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#074 from a beer to a market leader with Jonathan Carson and Eric Kurtzman. Built For This Podcast, with Carly Pepin August 20, 2026 by Carly Pepin | No comments yet What happens when two lawyers who barely know each other sit down for a beer, discover they share the same frustration with an industry, and decide they can build something better? In this episode of Built For This, Carly Pepin sits down with Jonathan Carson and Eric Kurtzman, co-CEOs of Stretto, to explore a business partnership that has lasted more than 25 years and helped reshape the bankruptcy services industry. Jonathan and Eric first met as bankruptcy attorneys and quickly recognized a problem hiding in plain sight. The claims agencies supporting major bankruptcy cases were difficult to work with, their technology was outdated, and both lawyers and clients were frustrated with the experience. Their first thought was to acquire an existing business. But after looking more closely at what they would actually be buying, they came to a different conclusion: starting from scratch might be easier. That decision led to the creation of KCC, a technology company they grew into a market leader before eventually selling it to Computershare. Years later, Jonathan and Eric returned to the industry with an even bigger vision, building Stretto into a technology and services platform supporting corporate restructuring, bankruptcy trustees, and consumer bankruptcy. But this conversation is about far more than bankruptcy. Carly, Jonathan, and Eric explore the partnership behind their success and why being very different from one another has become one of their greatest strengths. Jonathan naturally gravitates toward relationships, marketing, business development, and the external face of the organization. Eric is more focused on numbers, operations, execution, and the internal mechanics of the business. Instead of both trying to control every decision, they learned to trust each other's strengths. Sometimes that means one of them disagreeing with a decision while still recognizing that the other person is better equipped to make it. That same clarity has shaped Stretto's approach to growth. Rather than following what Jonathan describes as a "spray paint strategy" and expanding into anything that might generate additional revenue, Stretto has remained deliberately focused on bankruptcy and insolvency. Its acquisitions are designed to deepen the company's expertise and capabilities within that market rather than take it into unrelated industries. That specialization is becoming even more valuable as AI transforms professional services. Instead of trying to create generic AI products for everyone, Stretto can apply the technology to very specific bankruptcy workflows and problems where decades of industry knowledge provide a significant advantage. Jonathan and Eric also share a candid look at acquisitions from the buyer's perspective. They discuss integrating companies and cultures, retaining founders and key employees, structuring earnouts, and understanding what the person selling the company actually wants from the transaction. Because sometimes it isn't simply money. For a founder who has spent 15 years building something, success might mean finally seeing their technology reach its full potential. It might mean watching their product become an industry standard or knowing the business they created has found the right home. The conversation also offers a glimpse into the culture Jonathan and Eric built along the way, including company trips, unconventional annual "board meetings," and a commitment to helping employees grow alongside the business. Many of the executives working with them today have been part of their journey for more than two decades. At its heart, this episode is a fascinating conversation about partnership, trust, acquisitions, AI, culture, leadership, and the many different ways entrepreneurs can define success. Key themes. Great Partnerships Are Built on Complementary Strengths Jonathan and Eric don't succeed because they think alike. In many ways, they succeed because they don't. Over the years, they've learned where each person's strengths lie and developed enough trust to give each other genuine ownership in those areas. That means accepting that sometimes the other person will make a decision you wouldn't make yourself. Instead of constantly second-guessing one another, they trust the person best equipped to make the call. The result is a leadership partnership with what Jonathan describes as twice the horsepower. Growth Doesn't Have to Mean Going Broader Stretto has resisted the temptation to become everything to everyone. Instead, Jonathan and Eric have chosen to go deeper into an industry they understand exceptionally well. That philosophy also guides their acquisitions. They aren't simply buying revenue. They're adding technologies, services, expertise, and capabilities that make Stretto more valuable within bankruptcy and insolvency. As AI creates opportunities to rethink how professional services are delivered, that depth of expertise gives Stretto an opportunity to create highly specialized solutions rather than competing as another generic technology provider. There Are Infinite Versions of Wealth One of the most thought-provoking parts of the conversation is Eric's perspective on what success actually means. Financial outcomes matter, but they're not the only way people measure the value of what they've built. For founders selling their companies, success might also mean seeing their product finally achieve widespread adoption, creating opportunities for employees, protecting their legacy, or becoming part of something bigger. Understanding what the person on the other side of a transaction genuinely values can change the entire nature of an acquisition, partnership, or negotiation. About Jonathan Carson. Jonathan Carson serves as co-CEO of Stretto, a bankruptcy technology and services firm retained in some of the country's largest corporate restructurings and providing proprietary software used to prepare more than 80% of consumer bankruptcy cases filed nationwide. Jonathan began his career as a corporate restructuring attorney with Kirkland & Ellis before leveraging his legal expertise to co-found Kurtzman Carson Consultants, or KCC, with Eric Kurtzman. Together, they grew KCC into a market leader in the administration of large Chapter 11 bankruptcy cases before its acquisition by Computershare. Their entrepreneurial leadership earned Jonathan and Eric widespread recognition, including the Ernst & Young Entrepreneur of the Year Award. Jonathan is also an adjunct professor at the University of Michigan Law School and is regularly called upon by the media to share his expertise in entrepreneurship and bankruptcy. About Eric Kurtzman. Eric Kurtzman serves as co-CEO of Stretto, where he directs the company's growth and expansion strategy. A former bankruptcy attorney and award-winning entrepreneur with more than 20 years of industry experience, Eric plays a central role in evaluating investments, conducting risk analysis, guiding acquisitions, and shaping the company's long-term strategic direction. Working alongside Stretto's executive leadership team, Eric helps establish financial, service, and development objectives across the company's business divisions while ensuring the organization continues strengthening its position as a leading bankruptcy technology and services provider. Together with Jonathan, Eric has spent more than two decades building businesses, developing teams, completing acquisitions, and challenging traditional approaches within the bankruptcy industry. Memorable Quotes "There are a lot of moments in our partnership where one of us looked at the other and said, 'I don't get it. I don't agree with you, but this is your area of the world.'" "Better, faster, cheaper. Everything that we're doing and everything that we get done through AI, it's done better, it's done faster and it's done cheaper." "There's an infinite versions of wealth, and it's up to each of us to decide what wealth means to us and what we're willing to sacrifice to reach that wealth." Jonathan Carson & Eric Kurtzman. Listen on. Connect & follow West Coast Growth Advisors. Join the conversation and follow on your favourite platform to stay connected Host: Carly Pepin. Co-Founder & Host Built For This West Coast Growth Advisors Don't miss out on great insights and updates

Walmart's ASPP is moving to Merrill: here's what You Need to know before July 31. If your inbox has been filling up with emails about Walmart's Associate Stock Purchase Plan (ASPP), you may be wondering whether there's something you need to do before the program transitions from Computershare to Merrill. For most associates, the answer is simple: probably not. Unless you were already planning to sell shares or make changes to your payroll contributions, your account, existing shares, and current contribution elections will transfer automatically. The biggest thing to know is that beginning July 31, the ASPP will enter a temporary blackout period while the transition takes place. During that time, you won't be able to access your account or make certain changes until the transition is complete. What's Changing? From July 31 through August 20, Walmart's ASPP will transition from Computershare to Merrill. Beginning on or about August 21, associates will access their accounts through Merrill's Benefits OnLine website and mobile app. The move is intended to create a more streamlined experience by bringing the ASPP and Walmart's 401(k) under the same provider. According to Walmart's transition materials, Merrill is expected to eliminate online trading commissions for Walmart shares in the ASPP. Other fees or charges may still apply. Review Merrill's current fee schedule for details. Based on Walmart's transition materials, the ASPP's core features including payroll contributions, contribution limits, and the company match are expected to remain unchanged. Do You Need to Take Action? For most associates, no action is required. However, if you were already planning to make changes to your account before the transition, you'll want to act before the blackout period begins. Specifically, July 30 is the last day to: * Sell shares. * Change your payroll contribution amount. Beginning July 31, your account will be temporarily unavailable while it transfers to Merrill. During the blackout period, you won't be able to buy or sell shares, transfer shares, or make changes to your payroll contribution elections. Access to your account will return once the transition is complete on or about August 21. Associates with unique circumstances such as a P.O. Box address or certain joint account arrangements may have additional requirements and should review Walmart's transition communications carefully. What to Expect After the Transition Once your account is active at Merrill, you'll manage your ASPP through the Benefits OnLine website or mobile app. You'll also be able to update payroll contributions, manage your account, and sell shares through the new platform once the blackout period has ended A Good Reminder to Check on Your Financial Plan While this transition is largely administrative, it can also serve as a helpful reminder to check in on your overall financial picture. Changes like this often prompt Willowfinancialnwa to log in to its accounts, review its benefits, and make sure everything is working as expected. As you're getting familiar with the new platform, consider taking a few extra minutes to review your broader financial plan. Are your savings still aligned with your goals? Have your financial priorities changed over the past year? Are your beneficiary designations and account information up to date? Using moments like this to pause, review, and stay organized can help you feel more confident about your financial future. If you have questions about how your employee benefits fit into your overall financial plan, consider speaking with a financial professional to evaluate your options based on your individual circumstances and goals.