I always tell people like if you're trying to decide if you should make the jump or whatever, then don't. It will become painfully obvious when you should quit your full-time job.
In this week’s newsletter Aaron Moncur has a conversation with Spencer Jones, a multi-time founder, Innovator and currently CEO of Lapovations.
In this episode:
Why Spencer advocates for customer discovery before building
How AI tool mastery is essential for modern entrepreneurs
Maximize non-dilutive sources before taking VC money
Bonus Content:
Podcast Spotlight
Spencer Jones: MedTech Innovator, Founder @ MedTech & CEO @ Lapovations
Spencer Jones shares his transition from ICU nursing to medtech entrepreneurship, including developing Safe Break Vascular and achieving FDA clearance. He provides tactical advice on navigating accelerator programs, VC fundraising strategies, and building XOMedTech's training community.
A significant portion focuses on AI tools for medtech founders: from ChatGPT and Claude for documentation to specialized tools like DIA Browser, Gum Loop workflow automation, and RoboFlow for computer vision. Jones identifies common startup pitfalls including insufficient customer discovery and over-engineering MVPs.
He concludes with strategies for accelerating product development through cross-functional "glue" team members and maintaining relentless focus while avoiding conference distractions.
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Where the Southwest’s elite engineers gather
Most conferences = sales pitches, no learning. PDX = hands-on learning and solving real world problems
What you WON'T find at PDX:
❌ Vendor sales pitches disguised as "education"
❌ Theoretical presentations you'll forget by Monday
❌ Networking events where everyone exchanges the same business cards
What you WILL find:
✅ DfAM best practices taught by Impac Systems
✅ Mastering GD&T presented by R. Dean Odell
✅ Sick 3D Robot Guidance by Clayton Controls
✅ 30+ other vendor experts ready to help solve your hardest problems
The catch? We’re limited on attendees. And we’re giving you exclusive access to some of the remaining available seats.
Mesa, AZ | October 21-22, 2025 | $295 (while space remains)
P.S. As subscribers of this newsletter, use code “WBH50” for $50 off registration!
P.S.S. Enter to win one of two free expo passes by filling out the survey.
What we can learn from history
Teaching Machines to Think: How the Miniaturization of Computers took CNC to the Next Level
The late 1960s marked the moment when manufacturing control systems evolved from mechanical slaves into thinking partners. While John Parsons had given machines memory and MIT had taught them to follow instructions, this era would grant them intelligence and fundamentally alter the economics of automated manufacturing forever.
Digital Equipment Corporation's 1965 introduction of the PDP-8 minicomputer represented more than technological progress - it was a philosophical break from the past that would democratize computing power previously reserved for room-sized mainframes costing millions. Priced at $18,000 (roughly $170,000 today), the PDP-8 delivered 12-bit processing power with 4K memory capacity in a desk-sized package that eliminated the vacuum tube failures plaguing earlier systems. This wasn't merely about making computers smaller, it fundamentally altered who could afford computer-controlled equipment and where it could be deployed.
A machine shop owner could now justify automated equipment without requiring a dedicated computer room, specialized cooling systems, or a team of programmers. The implications rippled through manufacturing as vendors throughout the late 1960s began developing minicomputer-based numerical control systems that would transition the industry from hardwired relay logic to software-programmable control. This shift represented the manufacturing equivalent of moving…
For more, visit the full article on The Wave.
Closing Thoughts
Highlighting four red flags when choosing an accelerator
Predatory Convertible Notes: Many accelerators structure investments as convertible preferred notes with accruing interest, creating compound obligations that can exceed the original investment by 2-3x over time. These terms particularly favor the accelerator if your company takes years to achieve liquidity.
I've seen some that are like a convertible like it's 20k or 50k or whatever but it's like a convertible preferred so it's accruing interest but it's also preferred stock. And if you take 10 years to get them their money back, that 8% note basically is accruing a lot of interest. So they may that you may be paying them back two and a half times before you could ever see a dime.Founder Rights Restructure: Accelerators that demand changes to your corporate structure, bylaws, or articles of incorporation often strip founders of decision-making authority. This control transfer can lead to being ousted from your own company later.
If there's an accelerator that's like, 'No, you have to redo your bylaws or articles of incorporation or whatever to be exactly how we want it and it strips your rights as a founder, I would just move on to the next one. It's not worth it.Using Their Legal Team Exclusively: Accelerators that insist you use their attorneys for documentation create inherent conflicts of interest. Their lawyers represent the accelerator's interests, not yours, in structuring deals and protecting your rights.
Don't think, oh, I'm going to trust them and I'm just going to go and we'll do the documents with their attorneys and it's like, no, don't do that.Non-Negotiable Terms: Programs that refuse to discuss or modify their standard terms demonstrate inflexibility that often extends to their operational approach. Quality accelerators understand that different startups have different needs and circumstances.
You can push back on things and if they want you bad enough, you'll be there. Have an attorney, look out for all that stuff because it can be difficult to get out of later or it'll put you in a really bad situation where you could very easily lose control of your company, be ousted, so on and so forth.