BETA May 15, 2020 9:25:25 AM 10 min read

Staying Grounded During Times of Economic Uncertainty

JP Morgan Industry Executive, Mike Gietl  hosts Jodi Hubler in a discussion about Jodi’s experience at Definity Health (the VC backed insurance innovation bought by United) during 9/11 and the dot-com bubble burst, leading Lemhi Ventures during the Great Recession and thaw of 2008-2010, and the how she’s applying those lessons to today.


  1. First, stop, assess challenge, make a decision — focus on what’s controllable.
  2. Have courage and stay mission focus — being a founder is not for the faint of heart.
  3. Look for competitive advantages that differentiate your business — you may have to pivot.
  4. The ability to demonstrate financial and operational discipline will be important to attract investors.
  5. Be authentic about your marketing and sales strategy.
  6. Don’t be afraid to lean in and ask questions.


Jodi Hubler is the CEO and Managing Director of Lemhi Ventures and President and Board Director of Bind On-Demand Health Insurance (a Lemhi Ventures portfolio company). Jodi has held executive positions in both public and private companies, including Cargill, Alcoa, and Definity Health. She offers a distinctive combination of executive leadership, board governance, and venture capital investing expertise. Jodi has served as a board member or chair of more than a dozen health care services companies and is valued for her keen insight and skillful stewardship of organizations.

Jodi is especially adept at leading and governing in industries facing transformative change, drawing on her experience across global organizations and multi-industry domains. In addition to serving on the privately held company boards of Anser Innovation/Omcare, Bind On-Demand Health Insurance, Central Logic, and Digital Reasoning (Chair), she serves on the non-profit boards of Caring Bridge (Vice-Chair) and Medical Alley Association (Secretary). She serves as a confidential advisor to many including the University of Minnesota Discovery Capital Investment Advisory Board, State of Minnesota’s LaunchMN Advisory Board (Chair), Dougherty Family College Advisory Board, and the Women Business Leaders (WBL) of the U.S. Health Care Foundation Strategic Advisory Committee.



Mike is an Industry Executive with J.P. Morgan Securities LLC, based in Minneapolis, MN.  Mike leads the Life Sciences and Healthcare Services commercial banking team across the Midwest and Canada.  The focus of the team is to provide innovative financial products and networking to start-up through small-cap companies in the space.  Mike’s team specifically focuses on companies in the medical device, pharmaceutical, biotech, tools and diagnostic, specialty contract manufacturing and contract research spaces, as well as healthcare IT and those professional companies in the orthopedic, dental, ophthalmic, physical therapy and general outpatient ASC space.

Mike’s nearly 20 years of experience at J.P. Morgan includes structuring and implementing wide-ranging credit transactions and managing relationships with a range of life science, healthcare, manufacturing and industrial corporations, large research universities, and private colleges.  He has worked with taxable and tax-exempt financing structures, syndications and participations for these entities.  He also brings expertise in treasury management for companies looking for efficient ways to manage their operations.

Mike received a B.B.A. in Finance, Investments, and Banking from the University of Wisconsin – Madison.


"Surviving a Recession" is a five-part series presented by BETA and Launch Minnesota featuring local and national thought leaders sharing how they are applying lessons learned from their experiences weathering multiple recessions (such as the dot com bubble, September 11 and the 2008 housing crisis) to their businesses today.



How to Survive and Thrive When Your Business Doesn’t 

Moderated by Kelly Buhl, Operations Lead at BETA

Elaine Rasmussen,  Founder and CEO of Social Impact Strategies Group (SISG), shares how she overcame losing everything in 2001 to become a successful entrepreneur and community activist today. 


The Adventures of Code42 Post-911 

Moderated by Cihan Behlivan, Entrepreneur in Residence at BETA

Mitch Coopet, shares his co-founder journey and how he and his fellow co-founders scaled Code42 in the aftermath of the dot-com bubble. 


It's Ok to Cry

Moderated by Eri O'Diah, CEO at Digital

In this session of ‘Surviving a Recession’, Seena Hodges, Founder and CEO of The Woke Coach, guides us through an unfiltered conversation around becoming our best, most understanding, and empathetic selves during challenging times.


How Rapid Adaptation Can Save Your Business
Moderated by Casey Shultz, Executive Director at BETA

Lili Hall, Founder & CEO of Knock, Inc, Janet Johanson, Founder and CEO of BevSource and The Lab, and Scott Burns, Co-founder & CEO of Structural are no strangers to global recessions. All three were leading companies in the aftermath of 9/11 and through the housing crisis of 2008, but each agrees that something about COVID-19 feels different.

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