Between Two COO's with Michael Koenig

Seth Levine, Managing Director at Foundry Group and co-author of Capital Evolution, joins Between Two COOs to talk about how the American economy is changing - and what that means for the people actually running companies.

This is not a theoretical conversation. Seth explains why this moment is a structural shift, not a cycle. We talk about how power has moved from government to business, why companies are now carrying responsibilities they were never designed for, and how AI is accelerating both strong and broken operating systems inside organizations.

We also dig into what Seth is seeing from his seat as an investor and board member. How high-functioning executive teams behave during uncertainty. The traps leadership teams fall into when change outpaces their operating model. And a real crisis inside a portfolio company that shows what great operational leadership looks like when things break.

If you’re a CEO, COO, operator, or investor trying to understand how AI and economic realignment are reshaping leadership, this episode will give you a clearer view of what’s coming next.

Show Notes

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Guest: Seth Levine

Book: Capital Evolution

Podcast: Between Two COOs

Host: Michael Koenig

What we cover

  • Why Seth wrote Capital Evolution and why now
  • Why today’s economic shift is structural, not cyclical
  • How power has moved from public institutions to businesses
  • What companies are being asked to carry that they weren’t built for
  • How AI fits into this broader realignment
  • Early signals that companies are adapting well to AI
  • What strong executive teams do differently during uncertainty
  • Common leadership traps when change happens too fast
  • A real crisis from a portfolio company and what the executive team did well
  • The new leadership muscle operators need for the next decade

Episode Chapters / Timestamps

00:00 – Introduction

01:40 – Seth’s 30-second pitch for Capital Evolution

04:05 – Why this shift is structural, not cyclical

07:20 – What’s broken in the current economic model

11:00 – The power shift from government to business

15:10 – What leaders are quietly losing

18:45 – Where AI fits into this realignment

23:30 – What boards see when AI adoption works

28:05 – How strong executive teams handle uncertainty

33:40 – Leadership traps during rapid change

38:10 – A crisis inside a portfolio company

44:00 – The new muscle operators must build

48:50 – A moment Seth never thought he’d see

  • (00:00) - Between Two COOs - Seth Levine on Capital Evolution
  • (00:02) - Dynamic Capitalism
  • (01:47) - Introduction
  • (02:45) - The Book: Capital Evolution
  • (03:09) - Why This Book Now?
  • (11:57) - Friedman & Neoliberal Capitalism
  • (16:57) - Dynamic Capitalism
  • (17:56) - Definition of Dynamic Capitalism
  • (20:34) - AI & The Future of Work
  • (35:38) - Shifts in Operations
  • (41:18) - Crisis Management Story
  • (45:11) - Never Thought I'd See That
  • (47:18) - Wrap Up & Where to Find Seth

What is Between Two COO's with Michael Koenig?

Between Two COOs is hosted by veteran COO Michael Koenig and brings together Chief Operating Officers, executives, and business leaders to share real insights on operations, leadership, scaling, AI, and execution. Featuring COOs from companies like LVMH, Vodafone, Automattic, Lime, JumpCloud, Grafana Labs, and Cotopaxi, plus top VCs like Brad Feld and Seth Levine. Whether you're a COO, VP of Ops, founder, or aspiring operator — this is the podcast for people who actually run companies. New episodes weekly. betweentwocoos.com | b2coos.com