The IBJ Podcast

She went from a master’s in social work to tech firm CEO

Amy Brown is the founder and CEO of Indianapolis-based Authenticx Inc., one of the hottest technology firms the state. Despite the national slowdown in venture capital funding in 2022, Authenticx raised $20 million just before the end of the year. That’s almost $30 million total since Brown founded the firm in 2018, which speaks to investor confidence in the idea behind Authenticx as well as the management team’s level of experience and ability to execute.

But Brown took a very unusual route to becoming a first-time entrepreneur in her early 40s. As an undergrad at Indiana University, she earned a bachelor’s degree in human development and family studies. She then earned a master’s of social work in policy and program administration. She had several jobs with a focus on health care policy and health insurance programs. Before deciding to take the leap to create Autheticx, she was the chief operating office for a Carmel-based travel insurance firm.

It was there that the idea for Authenticx took shape: A company that could collect all of the feedback that health care companies get from their clients and suss out major weaknesses in the customer experience. The health care companies, such as pharmaceutical firms, insurers or medical care providers, could then use all of the data about their customers and their concerns to improve the bottom line.

In this week’s edition of the IBJ Podcast, Brown discusses what it took to bootstrap Authenticx and get it off the ground, including her desire to inspire her four children. She also sheds light on the experience of persuading venture capitalists to invest in Authenticx, including one distinction in her presentations that she said was invaluable.

The IBJ Podcast is brought to you by Taft.

A look back at celebrated Indy jazz guitarist Wes Montgomery

Celebrated jazz guitarist Wes Montgomery was born 100 years ago in Indianapolis and spent much of his career here, recording and performing on Indiana Avenue, sometimes with his brothers and often with some of the greatest jazz, soul and even pop musicians of his generation.

Montgomery died in 1968 at just 45 years old. But during his relatively short career, he won two Grammy Awards and was routinely selected as the top guitarist in Down Beat magazine polls, five times by critics in the 1960s and four times by readers.

We’re turning today’s episode of the podcast over to IBJ arts writer Dave Lindquist for an exploration of the ways that Wes Montgomery was an innovator of jazz guitar, why fellow guitarists continue to find inspiration in his playing 55 years after his death and how he was one of many world-class musicians to emerge from the Indiana Avenue jazz scene in the 1940s and ’50s.

Joining Dave for the conversation are Rob Dixon, a saxophone player and artistic director of the Indianapolis Jazz Foundation. And Lasana Kazembe, a poet, teaching artist and assistant professor of education at IUPUI.

Rob and Lasana will celebrate Montgomery’s legacy during a May 13 special event at The Cabaret, where Kazembe serves as the venue’s first artist in residence. The event is titled “In Our Own Sweet Way: Honoring the Artistic Legacy of Wes Montgomery.”

 

The IBJ Podcast is brought to you by Taft.

Internet banking pioneer Becker has bucket list but isn’t going anywhere

David Becker is considered one of the godfathers of the Indiana technology ecosystem, having started and sold several tech firms over the past four decades. But he’s probably best known for his current effort, which broke new ground in an entire tech sector. In 1999, he launched First Internet Bank of Indiana, an online-only bank that offered typical bank services without needing to maintain any physical branches.

First Internet Bank recently passed $4 billion in assets. Becker is 69 years old and says he has no plans to hand over the reins of CEO and chairman, given that developing new products and services for the bank scratches his entrepreneurial itch. In this week’s edition of the IBJ Podcast, Becker has a wide-ranging conversation with host Mason King, jumping from his motorcycle-trip bucket list to what he’s done to make the bank’s new headquarters in Fishers attractive to employees while the corporate world wrangles with the trend of working from home.

The IBJ Podcast is brought to you by Taft.

 

Jeff Wood’s white-knuckle ride from F-16 pilot to head of Tom Wood Automotive

Tom Wood Automotive Group is one of the best-known family businesses in central Indiana, with more than a dozen car dealerships and 1,000 employees. But relatively few people have heard of Jeff Wood, who took over the company after Tom Wood, his father, died from lung cancer in 2010.

Jeff Wood grew up in central Indiana and worked in the family business for a while, but he found his calling in the United States Air Force. He served for 20 years as a combat pilot who flew F-16s. As nerve-wracking as it might be to fly an armed aircraft at 1,400 miles per hour at an altitude of 40,000 feet, Jeff Wood wasn’t entirely prepared for the white-knuckle ride of taking over a huge family business at the request of his father.

It's been more than a dozen years since Jeff Wood became company president, and he has used that time to diversify Tom Wood Automotive Group—often following his own interests to see where they lead. In this week’s edition of the IBJ Podcast, he discusses his dad, flying F-16s and the hair-raising transition to company leader in 2010. It’s been a tough year for the car sales industry, and Wood provides an insider’s look and a sense of how the group is trying to ride out the turbulence. And he provides a 30,000-foot view of this sprawling conglomerate and how he has been able to keep aviation in his life—flying as often as once per week.

The IBJ Podcast is brought to you by Taft.

 

Digging into Salesforce’s ‘restructuring’ and what it could mean for Indianapolis

On Wednesday, global tech giant Salesforce revealed in a sparse regulatory filing that it planned to lay off about 10% of its employees companywide. The reason, in a nutshell: Salesforce hired too many people during a recent period of massive growth, and customers now are cutting back on spending in the uncertain economic environment. And speaking of uncertainty, cities with a significant Salesforce presence were left with many questions, since the firm declined to provide any more details about the layoffs than what was in the filing.

The company has about 80,000 employees worldwide, about 2,300 of which work in Indianapolis, where its operations are based in the 48-story Salesforce Tower. Although the company is about as high-profile as you can get in Indianapolis, one suspects many local folks are only vaguely familiar with what the company does here and why it’s an important part of the technology ecosystem.

For this week’s edition of the IBJ Podcast, host Mason King and reporters Susan Orr and Mickey Shuey discuss what they’ve learned so far about the restructuring. It's not just a tech story: Salesforce has revealed, somewhat cryptically, that it also plans to shrink its real estate footprint, which could have serious ramifications for Indianapolis’ premier office tower. It all sounds ominous for downtown, which is still trying to recover from the effects of the pandemic on its urban workforce.

The IBJ Podcast is brought to you by Taft.

 

Jeff Smulyan talks radio, owning a baseball team and David Letterman

IBJ reporter Dave Lindquist, in this week for Mason King, talks with Emmis Corp. founder Jeff Smulyan about his 2022 memoir “Never Ride a Roller Coaster Upside Down: The Ups, Downs and Reinvention of an Entrepreneur”

The book—which he wrote at his daughter’s urging—caps a year of tremendous transition for Smulyan, whose roster of former employees includes David Letterman, Mike Pence, Isaac Hayes and Ken Griffey Jr.

Emmis sold four Indianapolis radio stations and Indianapolis Monthly magazine in 2022, ending the company’s four-decade run as a media powerhouse. Although Emmis still owns two radio stations in New York City, the company is now focused on three assets it has in the fields of e-commerce, ergonomics and corporate podcasting.

Lindquist talks with Smulyan about his career, his successes and some of his initiatives that didn’t go so well, including NextRadio—a costly effort to make mobile phones act like smart portable radios that never took off.

The IBJ Podcast is brought to you by Taft.

 

 

Shari Jenkins of Noah Grant’s, Salty Cowboy on taking a third leap

Given what we know about inflation and the chances for a recession, you could assume this isn’t the best time to start a business that depends on consumer discretionary spending.

Shari Jenkins isn’t too concerned. She’s the restauranteur behind the Zionsville mainstays Noah Grant’s Grill House & Oyster Bar and Salty Cowboy Tequileria. She’s now in the process of opening a new restaurant in Zionsville that’s designed to make patrons feel like they’re on vacation and don’t have a care in the world. It’s called Tipsy Mermaid Conch House & Cocktails, and getting it open this spring will require a seven-figure startup investment.

Jenkins has faith in her customer base in her native city of Zionsville. Their support helped keep Noah Grant’s going during the Great Recession, and patrons remained loyal to both of her restaurants during the worst of the pandemic. Jenkins also overcame a devastating fire at the original Noah Grant’s during a key period in which she was relocating the restaurant to a new spot in Zionsville. Fears of a mild recession don’t give her much pause.

IBJ reporter Daniel Bradley featured the plans for Tipsy Mermaid in the latest issue of IBJ, and Jenkins joined IBJ Podcast host Mason King for a deeper conversation about her emergence as a restauranteur after working as a teacher in Indianapolis Public Schools. She also explains how she surmounted a litany of obstacles over the last 14 years, although elevated food costs continue to be a problem.

The IBJ Podcast is brought to you by Taft.

Pete the Planner on making the best of a terrible year for investments

This is the time of year, for better or worse, that we usually take stock of our investments and either count our blessings or lick our wounds. Sad to say, there hasn’t been a year when traditional equity investments—aka the stock market—have behaved this poorly since 2008, and we all know what happened there.

Of course, 2022 can’t compare to the financial meltdown and Great Recession, but that doesn’t take any of the sting out of seeing your portfolio slip 20 percent into the red. IBJ personal finance columnist Pete the Planner is in the same boat and isn’t looking forward to his annual financial review on New Year’s Eve, but Pete does have a pocket full of silver linings to pull out.

Markets go down and then they go up. It’s a healthy cycle. To benefit from the cycle, you need to make sure that you are taking advantage of opportunities to save money and eliminate. In the podcast this week, Pete shares the questions he asks himself at the end of every year to make sure he’s positioning himself for success. It all boils down to a concept Pete calls the “power percentage,” which he will explain. And he also ventures to make a few optimistic predictions for 2023.

 

The IBJ Podcast is brought to you by Taft.

Former budget hawk flips role, makes case for big increase in state health spending

No one disputes that Indiana residents rank very low among all Americans in terms of their health. The operative question, which will be posed to Indiana legislators in their budget-writing session beginning next month, is to what extent the state should try to intervene and do something about it.

Last year, Gov. Eric Holcomb convened a special commission to conduct the first comprehensive assessment of Indiana’s public health system in more than three decades. It was co-chaired by former state senator Luke Kenley, the chair of the Senate Appropriations Committee from 2009 to 2017 and one of the most powerful holders of state purse strings for many years.

This summer, the commission released its findings and recommendations. Its overarching proposal is that the state increase annual public health funding from about $55 per person—which ranks 48^th in terms of state funding per capita in the nation—to $91 per person. That would cost another $242.6 million a year.

Kenley’s job now is to convince skeptical state legislators that this added expenditure is worth it. In this week’s edition of the IBJ Podcast, Kenley discusses his strategy, as well as why the state’s public health spending has been so relatively meager up to this point. And he’s joined by Dr. Kristina Box, Indiana state health commissioner, to discuss the need to improve the health of Hoosiers and how best to deploy the proposed annual injection of $242.6 million.

The IBJ Podcast is brought to you by Taft.

Indy-based airline charting path to more diverse workforce

The U.S. airline industry isn’t just short of the pilots needed to meet travel demand. The demographic makeup of the industry’s pilot workforce remains overwhelmingly male and white.

Indianapolis-based Republic Airways, one of the largest regional airlines in America, has a vested interest in trying to stock its talent pipeline—not just with pilots but for other aviation careers as well, including maintenance. And Republic has made a concerted effort in recent years to recruit more women and people of color and to eliminate barriers that might stand in the way of successful careers at the company.

The airline’s initiatives include a three-day aviation career summit that in October attracted 1,100 attendees—including 750 students of color—from across the state. Republic is also in in the process of launching a campaign to raise $24 million to help 300 central Indiana students of color start careers in aviation.

For this week’s edition of the IBJ Podcast, host Mason King is joined by Rob Lowe, Republic’s vice president of people and culture, and Alisha Spires, senior manager of talent acquisition for pilot recruiting, to discuss the barriers that women and people of color face when they consider aviation careers, and what Republic is doing to widen those horizons.

 

The IBJ Podcast is brought to you by Taft.