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		<title>Track Record by Tramlines</title>
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		<copyright>© Tramlines Ventures Ltd, 2026</copyright>
		<itunes:keywords>venture capital,AI,investment,finance,business,tramlines,economy,economists,founders,startups,artificial intelligence,investing,entreprenuership,technology,economics</itunes:keywords>
		<itunes:author>Tramlines</itunes:author>
		<itunes:subtitle>Hosted by Albert Azis-Clauson</itunes:subtitle>
		<itunes:summary><![CDATA[<p><strong>Track Record by Tramlines</strong> explores how AI is reshaping investment, finance, and business. </p><p>Each episode brings financial leaders, investors, founders, economists, and policymakers into conversation about what is changing now and where money and opportunity are moving as a result.</p><p>Made for investors, founders, and business owners, it offers a practical view of the AI economy from the people doing the work.</p><br><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
		<description><![CDATA[<p><strong>Track Record by Tramlines</strong> explores how AI is reshaping investment, finance, and business. </p><p>Each episode brings financial leaders, investors, founders, economists, and policymakers into conversation about what is changing now and where money and opportunity are moving as a result.</p><p>Made for investors, founders, and business owners, it offers a practical view of the AI economy from the people doing the work.</p><br><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
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			<itunes:name>Tramlines</itunes:name>
			<itunes:email>max.middleton@tramlines.com</itunes:email>
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			<title>Craig Donaldson | Create Fans: Why Business is About People</title>
			<itunes:title>Craig Donaldson | Create Fans: Why Business is About People</itunes:title>
			<pubDate>Tue, 06 Oct 2026 23:15:00 GMT</pubDate>
			<itunes:duration>55:09</itunes:duration>
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			<itunes:subtitle>The Chair of Tramlines and founding CEO of Metro Bank explains what it takes to build a bank</itunes:subtitle>
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			<itunes:episode>8</itunes:episode>
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			<description><![CDATA[<p>Craig Donaldson grew up during the miners&#39; strike, ran 84 bank branches in East Africa at 25, and went on to be the founding CEO of Metro Bank. Now he is the Executive Chairman of Tramlines. </p><p>He tells Albert what pubs taught him about people, why he started a bank when everyone else was cutting costs, and why domain experts with the right support deserve a chance even if they never become unicorns.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:44 A background to Craig&#39;s early life</p><p>03:10 From technologist to banker</p><p>04:13 Pubs, tills and &quot;business is people&quot;</p><p>05:08 84 branches in East Africa at 25</p><p>06:14 Why people took a chance on him</p><p>07:37 RBS and the global financial crisis</p><p>08:08 Learning from the hard times</p><p>09:08 Intellect, interpersonal skills and hard work</p><p>10:15 Resilience and boss watching</p><p>11:56 From doing to leading</p><p>13:50 Dave Craggs and the curve on the graph</p><p>16:24 Energy from someone else closing the deal</p><p>17:29 Why start a bank?</p><p>18:17 The zig and the zag</p><p>19:38 A call from Vernon Hill</p><p>20:52 The first new high street bank in over 100 years</p><p>22:23 Printing cards in store</p><p>24:04 Create fans</p><p>24:51 Fail fast</p><p>25:31 Seven years to IPO</p><p>27:17 Proof points and stage gates</p><p>28:48 Statements, post boxes and mirrors</p><p>30:41 What Metro taught him</p><p>32:21 Human-led businesses in an AI world</p><p>34:24 Leaving Metro Bank</p><p>38:37 Meeting Albert and telling him everything</p><p>41:37 How Tramlines started</p><p>44:33 Discipline, and AI as a tool</p><p>46:17 What excites Craig now</p><p>48:54 Why experienced people come to Tramlines</p><p>51:44 The £100m question</p><p>52:52 Advice for Albert</p><p>54:52 Close</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>Craig Donaldson grew up during the miners&#39; strike, ran 84 bank branches in East Africa at 25, and went on to be the founding CEO of Metro Bank. Now he is the Executive Chairman of Tramlines. </p><p>He tells Albert what pubs taught him about people, why he started a bank when everyone else was cutting costs, and why domain experts with the right support deserve a chance even if they never become unicorns.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:44 A background to Craig&#39;s early life</p><p>03:10 From technologist to banker</p><p>04:13 Pubs, tills and &quot;business is people&quot;</p><p>05:08 84 branches in East Africa at 25</p><p>06:14 Why people took a chance on him</p><p>07:37 RBS and the global financial crisis</p><p>08:08 Learning from the hard times</p><p>09:08 Intellect, interpersonal skills and hard work</p><p>10:15 Resilience and boss watching</p><p>11:56 From doing to leading</p><p>13:50 Dave Craggs and the curve on the graph</p><p>16:24 Energy from someone else closing the deal</p><p>17:29 Why start a bank?</p><p>18:17 The zig and the zag</p><p>19:38 A call from Vernon Hill</p><p>20:52 The first new high street bank in over 100 years</p><p>22:23 Printing cards in store</p><p>24:04 Create fans</p><p>24:51 Fail fast</p><p>25:31 Seven years to IPO</p><p>27:17 Proof points and stage gates</p><p>28:48 Statements, post boxes and mirrors</p><p>30:41 What Metro taught him</p><p>32:21 Human-led businesses in an AI world</p><p>34:24 Leaving Metro Bank</p><p>38:37 Meeting Albert and telling him everything</p><p>41:37 How Tramlines started</p><p>44:33 Discipline, and AI as a tool</p><p>46:17 What excites Craig now</p><p>48:54 Why experienced people come to Tramlines</p><p>51:44 The £100m question</p><p>52:52 Advice for Albert</p><p>54:52 Close</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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			<title>Daniel Lanyon | The Journalist Who Became an Investor</title>
			<itunes:title>Daniel Lanyon | The Journalist Who Became an Investor</itunes:title>
			<pubDate>Wed, 30 Sep 2026 00:48:42 GMT</pubDate>
			<itunes:duration>46:57</itunes:duration>
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			<itunes:subtitle>From writing about money to backing founders: fintech, domain experts and keeping a clear head about AI</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>7</itunes:episode>
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			<description><![CDATA[<p>Daniel Lanyon started out as a journalist in Istanbul in 2010, joined The Times&#39; foreign desk as a freelancer, and followed the money into financial journalism. </p><br><p>He went on to help build AltFi, a publication covering fintech, from around 2016 until it was bought by a family office. Along the way he met the early teams at Revolut and Monzo, when Revolut had just one product and a team of 10 or 20.</p><br><p>He is now Managing Director of Funds at Tramlines. In this episode of Track Record, Albert asks how that career shaped the way Daniel now thinks about founders, investing and AI. They cover how his years as a reporter taught Daniel to judge founders, why he thinks domain experts could overtake the &#39;Stanford dropout&#39;, and how to keep a clear head about AI.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:43 Daniel&#39;s role at Tramlines</p><p>02:40 Istanbul, Tintin and becoming a journalist</p><p>05:28 The Times, The Grocer and following the money</p><p>06:31 From financial markets to fintech</p><p>08:19 Why UK Fintech took off</p><p>09:15 Branches: from moat to millstone</p><p>10:08 Revolut, Monzo and Starling in the early days</p><p>11:50 Three tracks: a business, a cycle and investors</p><p>13:28 A football hedge fund and a buoy on a beach</p><p>14:17 AltFi and learning to sell</p><p>16:49 Inside versus outside</p><p>17:18 The 2021 boom and the downturn</p><p>18:49 Deciding to become an investor</p><p>20:12 Meeting Albert</p><p>21:23 VC as a five-year-old&#39;s football match</p><p>22:24 Where the value lies now</p><p>23:31 Why the best founders are domain experts</p><p>25:12 When the big names caught on</p><p>25:53 &quot;I will never have an app-only bank&quot;</p><p>27:25 Scaling domain expertise with AI</p><p>28:52 Going earlier: meeting founders before they quit</p><p>31:10 Consultancy as a way in</p><p>32:59 What AI changes for investors</p><p>35:09 Everyone at Tramlines was at the front</p><p>36:19 Keeping two sets of books</p><p>38:29 Analog in an AI world</p><p>39:13 How to get to the front of AI</p><p>40:40 Think, plan, do</p><p>41:40 Three ways to use two sets of books</p><p>43:06 The £100m question</p><p>45:21 Advice for Albert</p><p>46:24 Closing remarks</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>Daniel Lanyon started out as a journalist in Istanbul in 2010, joined The Times&#39; foreign desk as a freelancer, and followed the money into financial journalism. </p><br><p>He went on to help build AltFi, a publication covering fintech, from around 2016 until it was bought by a family office. Along the way he met the early teams at Revolut and Monzo, when Revolut had just one product and a team of 10 or 20.</p><br><p>He is now Managing Director of Funds at Tramlines. In this episode of Track Record, Albert asks how that career shaped the way Daniel now thinks about founders, investing and AI. They cover how his years as a reporter taught Daniel to judge founders, why he thinks domain experts could overtake the &#39;Stanford dropout&#39;, and how to keep a clear head about AI.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:43 Daniel&#39;s role at Tramlines</p><p>02:40 Istanbul, Tintin and becoming a journalist</p><p>05:28 The Times, The Grocer and following the money</p><p>06:31 From financial markets to fintech</p><p>08:19 Why UK Fintech took off</p><p>09:15 Branches: from moat to millstone</p><p>10:08 Revolut, Monzo and Starling in the early days</p><p>11:50 Three tracks: a business, a cycle and investors</p><p>13:28 A football hedge fund and a buoy on a beach</p><p>14:17 AltFi and learning to sell</p><p>16:49 Inside versus outside</p><p>17:18 The 2021 boom and the downturn</p><p>18:49 Deciding to become an investor</p><p>20:12 Meeting Albert</p><p>21:23 VC as a five-year-old&#39;s football match</p><p>22:24 Where the value lies now</p><p>23:31 Why the best founders are domain experts</p><p>25:12 When the big names caught on</p><p>25:53 &quot;I will never have an app-only bank&quot;</p><p>27:25 Scaling domain expertise with AI</p><p>28:52 Going earlier: meeting founders before they quit</p><p>31:10 Consultancy as a way in</p><p>32:59 What AI changes for investors</p><p>35:09 Everyone at Tramlines was at the front</p><p>36:19 Keeping two sets of books</p><p>38:29 Analog in an AI world</p><p>39:13 How to get to the front of AI</p><p>40:40 Think, plan, do</p><p>41:40 Three ways to use two sets of books</p><p>43:06 The £100m question</p><p>45:21 Advice for Albert</p><p>46:24 Closing remarks</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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			<title>Francesca Hodgson | Start With the Problem, Not the Idea</title>
			<itunes:title>Francesca Hodgson | Start With the Problem, Not the Idea</itunes:title>
			<pubDate>Tue, 22 Sep 2026 23:35:26 GMT</pubDate>
			<itunes:duration>48:11</itunes:duration>
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			<itunes:subtitle><![CDATA[Why founders should get back to basics and ask "what is the problem that I'm solving?"]]></itunes:subtitle>
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			<itunes:episode>6</itunes:episode>
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			<description><![CDATA[<p>Francesca Hodgson has built a venture-backed fintech, coached hundreds of founders in the last few months alone, and runs the SPARK incubator at King&#39;s College, Cambridge. She talks to Albert about why founders should start with the problem rather than the idea, what raising money really cost her, and why AI makes it more important, not less, to know what you are looking for.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:23 Francesca&#39;s background</p><p>02:57 Relationships, trust and discovering your purpose</p><p>05:43 How Fran coaches: starting with the problem</p><p>07:56 The trouble with the big idea</p><p>10:31 Vision, the minimum viable business and the beachhead</p><p>11:25 Build with, not for</p><p>12:55 The seven validation gateways</p><p>15:11 Raising 15 million with 5% of the equity</p><p>16:32 Revenue, the funding people overlook</p><p>17:58 There&#39;s always a cost</p><p>19:27 Women founders and the funding gap</p><p>24:40 Why venture capital is a hammer</p><p>25:58 The loneliness of a venture-backed founder</p><p>27:45 Separating governance from management</p><p>29:01 Psychological safety and leadership styles</p><p>31:03 Shared ownership and collaboration</p><p>33:41 AI amplifies what you put in</p><p>36:15 The false sense of security</p><p>39:02 Domain expertise plus AI expertise</p><p>40:32 Thought processing, AI slop and checking the output</p><p>42:43 Where the opportunity is for founders</p><p>44:13 The barrier to innovation is now the ability to speak</p><p>45:38 Where Francesca would invest £100m</p><p>47:31 Closing remarks</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>Francesca Hodgson has built a venture-backed fintech, coached hundreds of founders in the last few months alone, and runs the SPARK incubator at King&#39;s College, Cambridge. She talks to Albert about why founders should start with the problem rather than the idea, what raising money really cost her, and why AI makes it more important, not less, to know what you are looking for.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:23 Francesca&#39;s background</p><p>02:57 Relationships, trust and discovering your purpose</p><p>05:43 How Fran coaches: starting with the problem</p><p>07:56 The trouble with the big idea</p><p>10:31 Vision, the minimum viable business and the beachhead</p><p>11:25 Build with, not for</p><p>12:55 The seven validation gateways</p><p>15:11 Raising 15 million with 5% of the equity</p><p>16:32 Revenue, the funding people overlook</p><p>17:58 There&#39;s always a cost</p><p>19:27 Women founders and the funding gap</p><p>24:40 Why venture capital is a hammer</p><p>25:58 The loneliness of a venture-backed founder</p><p>27:45 Separating governance from management</p><p>29:01 Psychological safety and leadership styles</p><p>31:03 Shared ownership and collaboration</p><p>33:41 AI amplifies what you put in</p><p>36:15 The false sense of security</p><p>39:02 Domain expertise plus AI expertise</p><p>40:32 Thought processing, AI slop and checking the output</p><p>42:43 Where the opportunity is for founders</p><p>44:13 The barrier to innovation is now the ability to speak</p><p>45:38 Where Francesca would invest £100m</p><p>47:31 Closing remarks</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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		<item>
			<title>Edward Keelan | AI, Growth and the future of VC</title>
			<itunes:title>Edward Keelan | AI, Growth and the future of VC</itunes:title>
			<pubDate>Tue, 15 Sep 2026 23:29:07 GMT</pubDate>
			<itunes:duration>50:18</itunes:duration>
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			<link>https://albertazisclauson.substack.com/p/how-ai-is-changing-what-venture-capital?r=3zrzjk</link>
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			<acast:episodeUrl>edward-keelan</acast:episodeUrl>
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			<itunes:subtitle>Why revenue growth, trusted relationships and vertical knowledge matter more as AI makes software easier to build.</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>5</itunes:episode>
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			<description><![CDATA[<p>As AI is makes software faster and cheaper to build, it changes what investors should look for, how companies sell, how enterprises adopt technology and where defensibility comes from.</p><br><p>In this episode of Track Record, Albert Azis-Clauson talks to Edward Keelan, a partner at Octopus Ventures, about the shift from traditional SaaS metrics to a world where pricing, retention and outcomes are still being worked out. They discuss why revenue and the speed of revenue growth matter earlier than many founders expect, why enterprise AI adoption is closer to workflow transformation than buying software off the shelf, and why customer relationships are becoming more consulting-like.</p><br><p>Ed also shares his experience of moving from Rolls-Royce and a startup into venture, and they discuss socio-economic access to capital, education, personal relationships and the risk of relationship-led investing reproducing existing networks.</p><br><p>The conversation ends with a shared challenge to early-stage VC: as technology becomes easier to build, domain expertise, customer knowledge and the ability to deliver in a specific vertical may become the more durable advantage.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction: Ed Keelan on AI and investment</p><p>02:29 From Rolls-Royce and startups to Octopus</p><p>05:24 Why entrepreneurs and small companies matter</p><p>09:39 AI outreach and the return of personal relationships</p><p>12:53 Socio-economic access, education and aspiration</p><p>20:29 How AI is changing growth-stage investing</p><p>23:54 Pricing, product-market fit and unsettled metrics</p><p>27:04 Enterprise adoption and transformation</p><p>30:16 Where AI creates value and changes work</p><p>33:57 Customer relationships, services and workflow design</p><p>36:54 Domain expertise and the changing sales team</p><p>41:09 Vertical software, defensibility and scale</p><p>44:28 What investors should measure now</p><p>46:58 The future of VC and the role of operating partners</p><p>49:03 Octopus Ventures and closing thoughts</p><br><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>As AI is makes software faster and cheaper to build, it changes what investors should look for, how companies sell, how enterprises adopt technology and where defensibility comes from.</p><br><p>In this episode of Track Record, Albert Azis-Clauson talks to Edward Keelan, a partner at Octopus Ventures, about the shift from traditional SaaS metrics to a world where pricing, retention and outcomes are still being worked out. They discuss why revenue and the speed of revenue growth matter earlier than many founders expect, why enterprise AI adoption is closer to workflow transformation than buying software off the shelf, and why customer relationships are becoming more consulting-like.</p><br><p>Ed also shares his experience of moving from Rolls-Royce and a startup into venture, and they discuss socio-economic access to capital, education, personal relationships and the risk of relationship-led investing reproducing existing networks.</p><br><p>The conversation ends with a shared challenge to early-stage VC: as technology becomes easier to build, domain expertise, customer knowledge and the ability to deliver in a specific vertical may become the more durable advantage.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction: Ed Keelan on AI and investment</p><p>02:29 From Rolls-Royce and startups to Octopus</p><p>05:24 Why entrepreneurs and small companies matter</p><p>09:39 AI outreach and the return of personal relationships</p><p>12:53 Socio-economic access, education and aspiration</p><p>20:29 How AI is changing growth-stage investing</p><p>23:54 Pricing, product-market fit and unsettled metrics</p><p>27:04 Enterprise adoption and transformation</p><p>30:16 Where AI creates value and changes work</p><p>33:57 Customer relationships, services and workflow design</p><p>36:54 Domain expertise and the changing sales team</p><p>41:09 Vertical software, defensibility and scale</p><p>44:28 What investors should measure now</p><p>46:58 The future of VC and the role of operating partners</p><p>49:03 Octopus Ventures and closing thoughts</p><br><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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			<title>Erica Young | How to Build a Network</title>
			<itunes:title>Erica Young | How to Build a Network</itunes:title>
			<pubDate>Tue, 08 Sep 2026 23:11:50 GMT</pubDate>
			<itunes:duration>51:16</itunes:duration>
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			<acast:episodeUrl>erica-young</acast:episodeUrl>
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			<itunes:subtitle>Turning network science into a practical tool for founders and organisations</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>4</itunes:episode>
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			<description><![CDATA[<p>In this conversation, Albert Azis-Clauson speaks with network scientist and Director of Networks at Tramlines, Erica Young.</p><br><p>Erica explains how a personal project to map the people she met after moving to London led her into network science, and why relationships create value that compounds over time.</p><br><p>We examine how AI could change relationship management, why trust becomes more important as products become easier to build and online content harder to verify, and why traditional networking events do not work for everyone.</p><br><p>The conversation explores how to approach new relationships without making them transactional, how a case of a junior job offer led to a board seat, and how different network shapes support discovery, coordination, and resilience. Erica closes by explaining why she would invest £100m in social capital and why one relationship-building habit, sustained for 10 years, can have an extraordinary effect.</p><br><p>Key moments:</p><p>00:00 Introduction</p><p>01:25 From a personal project to network science</p><p>05:33 Why network value compounds</p><p>07:39 How VC incentives weaken collective networks</p><p>12:11 How AI can transform relationship management</p><p>15:49 Why relationships become more defensible with AI</p><p>18:25 Networking beyond extrovert-designed events</p><p>19:47 Why investment-or-nothing is too narrow</p><p>21:31 How a junior job opportunity led to a board seat</p><p>22:48 Explore versus exploit</p><p>27:43 The daisy and the ball of yarn</p><p>32:29 How to assess your network</p><p>34:34 How a chance Airbnb encounter changed Erica's career</p><p>39:38 Why the teenagers were the AI experts in the room</p><p>41:14 How to cultivate and maintain relationships</p><p>45:39 Why some work friendships disappear</p><p>48:42 Where Erica would invest £100m</p><p>50:03 One habit sustained for 10 years</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>In this conversation, Albert Azis-Clauson speaks with network scientist and Director of Networks at Tramlines, Erica Young.</p><br><p>Erica explains how a personal project to map the people she met after moving to London led her into network science, and why relationships create value that compounds over time.</p><br><p>We examine how AI could change relationship management, why trust becomes more important as products become easier to build and online content harder to verify, and why traditional networking events do not work for everyone.</p><br><p>The conversation explores how to approach new relationships without making them transactional, how a case of a junior job offer led to a board seat, and how different network shapes support discovery, coordination, and resilience. Erica closes by explaining why she would invest £100m in social capital and why one relationship-building habit, sustained for 10 years, can have an extraordinary effect.</p><br><p>Key moments:</p><p>00:00 Introduction</p><p>01:25 From a personal project to network science</p><p>05:33 Why network value compounds</p><p>07:39 How VC incentives weaken collective networks</p><p>12:11 How AI can transform relationship management</p><p>15:49 Why relationships become more defensible with AI</p><p>18:25 Networking beyond extrovert-designed events</p><p>19:47 Why investment-or-nothing is too narrow</p><p>21:31 How a junior job opportunity led to a board seat</p><p>22:48 Explore versus exploit</p><p>27:43 The daisy and the ball of yarn</p><p>32:29 How to assess your network</p><p>34:34 How a chance Airbnb encounter changed Erica's career</p><p>39:38 Why the teenagers were the AI experts in the room</p><p>41:14 How to cultivate and maintain relationships</p><p>45:39 Why some work friendships disappear</p><p>48:42 Where Erica would invest £100m</p><p>50:03 One habit sustained for 10 years</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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			<title><![CDATA[Glen Robinson | AI isn't coming for your experts. It needs them.]]></title>
			<itunes:title><![CDATA[Glen Robinson | AI isn't coming for your experts. It needs them.]]></itunes:title>
			<pubDate>Tue, 01 Sep 2026 23:01:00 GMT</pubDate>
			<itunes:duration>47:40</itunes:duration>
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			<link>https://albertazisclauson.substack.com/p/technology-was-never-the-hard-part</link>
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			<acast:episodeUrl>glen-robinson</acast:episodeUrl>
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			<itunes:subtitle>Why the people who know the business best become more valuable as AI gets cheaper.</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>3</itunes:episode>
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			<description><![CDATA[<p>In this episode of Track Record, Albert Azis-Clauson speaks with Glen Robinson, Managing Director of C4VC, the Centre for Value Creation at Tramlines.</p><br><p>Glen explains why people are now the source code of technology. </p><p>As AI infrastructure, models, and tools become increasingly commoditised, he argues that the most durable advantage sits with domain experts and the tacit knowledge they have built over years inside an industry.</p><br><p>We trace Glen’s unconventional route into technology and his early experience at Amazon Web Services, before examining why Netflix’s transition from DVDs to streaming took eight years and what that teaches leaders about AI adoption. </p><br><p>The conversation explores how enterprises can apply venture-building methods to innovation, let 1,000 flowers bloom without losing control, and turn internal expertise into intellectual property that changes the value of the business. </p><br><p>Key moments:</p><p>00:00 Introduction</p><p>01:36 Glen’s unconventional route into technology</p><p>04:23 Discovering cloud and joining AWS</p><p>08:25 Why adaptability matters more than strength</p><p>09:29 Why Glen left Microsoft for Tramlines</p><p>13:19 Why Netflix beat Blockbuster</p><p>16:57 Peace, war, and wonder in technological change</p><p>18:44 How enterprises should balance delivery and innovation</p><p>19:49 How generative AI changes value creation</p><p>23:33 Scaling domain expertise inside enterprise</p><p>28:35 The transformation cliff and enterprise inertia</p><p>29:56 Applying venture-building methods inside enterprise</p><p>32:52 Why people are now the source code of technology</p><p>33:19 How to govern bottom-up innovation</p><p>35:27 How AI changes enterprise value</p><p>38:29 Why cost reduction is too narrow a goal</p><p>43:47 Where Glen would invest £100m</p><p>47:01 Next on Track Record</p><p> </p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>In this episode of Track Record, Albert Azis-Clauson speaks with Glen Robinson, Managing Director of C4VC, the Centre for Value Creation at Tramlines.</p><br><p>Glen explains why people are now the source code of technology. </p><p>As AI infrastructure, models, and tools become increasingly commoditised, he argues that the most durable advantage sits with domain experts and the tacit knowledge they have built over years inside an industry.</p><br><p>We trace Glen’s unconventional route into technology and his early experience at Amazon Web Services, before examining why Netflix’s transition from DVDs to streaming took eight years and what that teaches leaders about AI adoption. </p><br><p>The conversation explores how enterprises can apply venture-building methods to innovation, let 1,000 flowers bloom without losing control, and turn internal expertise into intellectual property that changes the value of the business. </p><br><p>Key moments:</p><p>00:00 Introduction</p><p>01:36 Glen’s unconventional route into technology</p><p>04:23 Discovering cloud and joining AWS</p><p>08:25 Why adaptability matters more than strength</p><p>09:29 Why Glen left Microsoft for Tramlines</p><p>13:19 Why Netflix beat Blockbuster</p><p>16:57 Peace, war, and wonder in technological change</p><p>18:44 How enterprises should balance delivery and innovation</p><p>19:49 How generative AI changes value creation</p><p>23:33 Scaling domain expertise inside enterprise</p><p>28:35 The transformation cliff and enterprise inertia</p><p>29:56 Applying venture-building methods inside enterprise</p><p>32:52 Why people are now the source code of technology</p><p>33:19 How to govern bottom-up innovation</p><p>35:27 How AI changes enterprise value</p><p>38:29 Why cost reduction is too narrow a goal</p><p>43:47 Where Glen would invest £100m</p><p>47:01 Next on Track Record</p><p> </p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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			<title>Emily Turner | The Five Things Every Founder Must Build</title>
			<itunes:title>Emily Turner | The Five Things Every Founder Must Build</itunes:title>
			<pubDate>Tue, 25 Aug 2026 23:01:00 GMT</pubDate>
			<itunes:duration>50:46</itunes:duration>
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			<itunes:subtitle>The CEO of HSBC Innovation Bank on how AI is changing the way companies are built</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>2</itunes:episode>
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			<description><![CDATA[<p>In this episode of Track Record, Albert Azis-Clauson speaks with Emily Turner, CEO of HSBC Innovation Banking UK.</p><p>&nbsp;</p><p>Emily explains why every founder needs to develop five areas of their company: the product, customer, team, investor, and business model. As each develops at a different speed, founders should focus their attention on whichever is moving most slowly.</p><p>&nbsp;</p><p>The conversation explores how AI could give service businesses software-like economics, and why Emily is looking at companies outside London.</p><p>&nbsp;</p><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:42 The state of venture and innovation</p><p>04:44 Why global investors are backing UK companies</p><p>08:01 AI, deep tech, and commercialisation</p><p>11:14 The five areas every founder must develop</p><p>15:00 Founder factories and the value of experience</p><p>20:04 How venture economics are changing</p><p>27:02 How venture funds create returns</p><p>29:29 Choosing the right investors</p><p>32:24 Pensions, debt, and secondary liquidity</p><p>34:11 Where capital has yet to reach</p><p>37:06 How AI helps companies focus</p><p>38:31 Can service businesses achieve software economics?</p><p>42:58 Why early-stage investing comes down to people</p><p>44:22 Problem obsession and complementary founders</p><p>47:13 Equity, incentives, and employee liquidity</p><p>48:41 Why Emily would invest outside London</p><p>50:09 Next on Track Record</p><p>.</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>In this episode of Track Record, Albert Azis-Clauson speaks with Emily Turner, CEO of HSBC Innovation Banking UK.</p><p>&nbsp;</p><p>Emily explains why every founder needs to develop five areas of their company: the product, customer, team, investor, and business model. As each develops at a different speed, founders should focus their attention on whichever is moving most slowly.</p><p>&nbsp;</p><p>The conversation explores how AI could give service businesses software-like economics, and why Emily is looking at companies outside London.</p><p>&nbsp;</p><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:42 The state of venture and innovation</p><p>04:44 Why global investors are backing UK companies</p><p>08:01 AI, deep tech, and commercialisation</p><p>11:14 The five areas every founder must develop</p><p>15:00 Founder factories and the value of experience</p><p>20:04 How venture economics are changing</p><p>27:02 How venture funds create returns</p><p>29:29 Choosing the right investors</p><p>32:24 Pensions, debt, and secondary liquidity</p><p>34:11 Where capital has yet to reach</p><p>37:06 How AI helps companies focus</p><p>38:31 Can service businesses achieve software economics?</p><p>42:58 Why early-stage investing comes down to people</p><p>44:22 Problem obsession and complementary founders</p><p>47:13 Equity, incentives, and employee liquidity</p><p>48:41 Why Emily would invest outside London</p><p>50:09 Next on Track Record</p><p>.</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
		</item>
		<item>
			<title><![CDATA[Lionel Barber | From Disruption to Growth: Britain's AI Opportunity ]]></title>
			<itunes:title><![CDATA[Lionel Barber | From Disruption to Growth: Britain's AI Opportunity ]]></itunes:title>
			<pubDate>Tue, 18 Aug 2026 23:05:00 GMT</pubDate>
			<itunes:duration>33:52</itunes:duration>
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			<itunes:subtitle>What is stopping promising companies from reaching scale?</itunes:subtitle>
			<itunes:episodeType>full</itunes:episodeType>
			<itunes:season>1</itunes:season>
			<itunes:episode>1</itunes:episode>
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			<description><![CDATA[<p>In this episode, Albert Azis-Clauson sits down with Lionel Barber, former editor of the Financial Times, to explore Britain’s economic future and whether AI could help the country rediscover its confidence, productivity and appetite for growth.</p><br><p>They discuss why Britain’s decline may be overstated, what prevents promising companies from reaching scale, and how AI is changing the relationship between talent, capital and value creation.</p><br><p>Lionel also reflects on the leadership lessons he learned at the Financial Times: setting a clear destination, adapting the business model, building closer customer relationships and knowing when to delegate.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:18 The agony of the entrepreneur</p><p>04:03 Britain's AI Opportunity</p><p>09:33 The Barriers and challenges to innovation in the UK</p><p>11:42 Masayoshi Son: Game Maker</p><p>13:44 The golden age for entrepreneurs</p><p>15:37 How will government adapt to AI?</p><p>20:10 The Changing Value Equation in an AI Economy</p><p>21:08 What does leadership look like?</p><p>25:40 Trust, Authority and the Human Factor</p><p>27:53 Where would Lionel invest £100m?</p><p>30:55 Lionel's advice for Albert</p><p>32:43 Closing remarks</p><p> </p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p>In this episode, Albert Azis-Clauson sits down with Lionel Barber, former editor of the Financial Times, to explore Britain’s economic future and whether AI could help the country rediscover its confidence, productivity and appetite for growth.</p><br><p>They discuss why Britain’s decline may be overstated, what prevents promising companies from reaching scale, and how AI is changing the relationship between talent, capital and value creation.</p><br><p>Lionel also reflects on the leadership lessons he learned at the Financial Times: setting a clear destination, adapting the business model, building closer customer relationships and knowing when to delegate.</p><br><p><strong>Key Moments:</strong></p><p>00:00 Introduction</p><p>01:18 The agony of the entrepreneur</p><p>04:03 Britain's AI Opportunity</p><p>09:33 The Barriers and challenges to innovation in the UK</p><p>11:42 Masayoshi Son: Game Maker</p><p>13:44 The golden age for entrepreneurs</p><p>15:37 How will government adapt to AI?</p><p>20:10 The Changing Value Equation in an AI Economy</p><p>21:08 What does leadership look like?</p><p>25:40 Trust, Authority and the Human Factor</p><p>27:53 Where would Lionel invest £100m?</p><p>30:55 Lionel's advice for Albert</p><p>32:43 Closing remarks</p><p> </p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
		</item>
		<item>
			<title>Introducing Track Record</title>
			<itunes:title>Introducing Track Record</itunes:title>
			<pubDate>Tue, 11 Aug 2026 16:16:29 GMT</pubDate>
			<itunes:duration>0:40</itunes:duration>
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			<link><![CDATA[https://albertazisclauson.substack.com/p/why-i-built-tramlines?r=3zrzjk&utm_campaign=post&utm_medium=web]]></link>
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			<itunes:subtitle>How AI is reshaping investment, finance, and business</itunes:subtitle>
			<itunes:episodeType>trailer</itunes:episodeType>
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			<description><![CDATA[<p><strong>Track Record by Tramlines</strong> is a new podcast; exploring how AI is reshaping investment, finance, and business.</p><p>Each episode brings financial leaders, investors, founders, economists, and policymakers into conversation about what is changing now, and where money and opportunity are moving as a result.</p><p>Made for investors, founders, and business owners, it offers a practical view of the AI economy from the people doing the work.</p><br><p>Full episodes available from 19 August.</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></description>
			<itunes:summary><![CDATA[<p><strong>Track Record by Tramlines</strong> is a new podcast; exploring how AI is reshaping investment, finance, and business.</p><p>Each episode brings financial leaders, investors, founders, economists, and policymakers into conversation about what is changing now, and where money and opportunity are moving as a result.</p><p>Made for investors, founders, and business owners, it offers a practical view of the AI economy from the people doing the work.</p><br><p>Full episodes available from 19 August.</p><p>Track Record is produced by Tramlines. We are industrialising AI through domain expert led startups, mid-market acquisitions, and enterprise partnership. If you'd like to learn more about how we're transforming industries, get in touch.</p><p>Learn more at <a href="https://www.tramlines.com" rel="noopener noreferrer" target="_blank">https://www.tramlines.com</a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>]]></itunes:summary>
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		<itunes:category text="Business">
			<itunes:category text="Entrepreneurship"/>
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    	<itunes:category text="Technology"/>
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