Dr. Doug Kaufman: The TransLoc Story, His Pivot to AI, and Why Every CEO Needs a Coach (part 2)

Triangle Tweener Talks

What happens after you sell a company you helped turn around?

For Dr. Doug Kaufman, it’s a story of new ventures and hard-won lessons.

In this second part of a two-part series, Doug discusses his time at TransLoc, a mass transit technology company he helped lead to a successful sale to Ford.

He shares how he navigated a challenging acquisition process and the importance of a strong, collaborative board. He also talks about the challenges of his most recent venture, Belongly, including the difficult decision to pivot the business and raise capital in a shifting market.

Now, as a Duke professor, executive coach, and partner at an AI consulting firm, Doug offers insights on the critical importance of founder mental health and the power of vulnerability in leadership.

Tune in to hear:

• Why Doug was initially hesitant to get involved with TransLoc, a company focused on "mass transit technology".
• The red flags he ignored when joining TransLoc , and how he turned the company around after discovering it was not financially healthy.
• How TransLoc expanded its services beyond tracking buses to create a "mobility network" and provide data-driven insights to transit agencies.
• The story of TransLoc's acquisition by Ford , and the delicate process of bringing a Fortune 15 M&A team back to the table after walking away.
• Dr. Kaufman’s philosophy on how to run a board, including the importance of setting clear roles and fostering a collaborative team environment.
• A candid account of his experience with his next startup, Belongly, and the painful lessons learned from market shifts and fundraising challenges.
• The psychological impact of founder ups and downs , and why Dr. Kaufman believes vulnerability is a "superpower" for entrepreneurs.

Where to Find Dr. Doug Kaufman:

LinkedIn: https://www.linkedin.com/in/drdougkaufman/

Where to Find Scot Wingo:

• LinkedIn: https://www.linkedin.com/in/thescotwingo/
• Tweener Times: https://www.tweenertimes.com/
• X: https://x.com/scotwingo

In this episode:
(00:01:00) Dr. Kaufman describes how he got connected with TransLoc after leaving Spring Metrics. He initially thought "mass transit technology" was boring until a board member convinced him to talk to the founding CEO, Josh Whitten.
(00:06:00) Dr. Kaufman became the CEO and raised over $6 million in equity from investors like SJF Ventures and Fontinalis, and another $2 million in debt from Square One.
(00:11:00) Dr. Kaufman reveals that he and his team did walk away from the deal once.
(00:17:00) Dr. Kaufman describes the big idea behind Belongly as an effort to address the mental health crisis in young people
(00:28:00) Dr. Kaufman describes his specific type of executive coaching
(00:33:00) The conversation shifts to founder mental health.

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Triangle Tweener Talks is hosted by Scot Wingo, presented by Triangle Tweener Fund, and produced by Walk West.

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/