Podcasts about VC

This week, we discuss Claude and the ongoing AI acceleration, AI's impact on VC and SaaS, and the latest draft of the CLARITY Bill. We also dig into BitGo's upcoming IPO, Polygon's latest acquisitions, the Farcaster Sale, Larry Fink's WEF comments, and more. Enjoy! -- Follow Jason: https://x.com/JasonYanowitz Follow Rob: https://x.com/HadickM Follow Santi: https://x.com/santiagoroel Follow Empire:https://x.com/theempirepod    -- Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral. Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here:  https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire  -- Timestamps: (00:00) Intro (02:55) Claude And The AI Acceleration (11:53) Leveraging Expertise, Competing Models & Company Structure (21:02) AI's Impact On VC And SaaS (31:590 Ads (Coinbase) (32:44) Unpacking The CLARITY Bill (41:00) BitGo's IPO (53:53) Polygon Acquisitions (01:00;47) Farcaster Sale & Decentralized Social (01:08:30) Larry Fink And Content Of The Week -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, Rob and our guests may hold positions in the companies, funds, or projects discussed.

While Jess is off being “Davos-famous,” the squad kicks things off with the classic California vs. New York debate. From there, it's straight into AI and VC chaos: absurd mega-seed rounds that break portfolio math, why even a great early bet like Anthropic wouldn't return a seed fund, and a revisit of Sam's view that there are only two ways to win right now—(1) have a real secret and stay capital-efficient, or (2) own the narrative. Dave flags a new “walkout culture” in AI, where executives jump ship the moment incentives shift. The crew then debates whether AI is actually shaping ideas or just polishing them (a fancy spellcheck?), why the question matters more than the answer, and how personal, computer-driving “Clawdbots” feel inevitable and maybe exactly where Apple should be headed, despite the security concerns. The episode rounds out with The Information's breaking news on Apple's AI pins, shrinking subscription moats and business-model shifts, plus detours into the New York Times' sauna-bros piece, Sam's WTF Conference protest merch, Super Bowl plans, and more.Chapters:01:00 – Hello Davos listeners!03:42 – SF vs. New York: where VC actually wins05:41 – The seed valuation "fairway" vs bloated-roads10:07 – Anthropic & OpenAI: good wins, but bad seed returns11:58 – AI founder drama: mercenary teams & narrative fundraising13:53 – Did Claude write its own constitution?15:18 – AI as spellcheck on steroids21:01 – Ralph: autonomous AI agent loop24:03 – What ClawdBot really is; symphony orchestrator26:51 – The Information breaks: Apple's AI wearable pin; are phones getting tired?29:02 – The rise of “orchestra compute” and hacked APIs31:44 – Subscription models are at risk: Whoop, Eight Sleep, Peloton, Apple41:18 – The New York Times' feature on Sauna Bros44:53 – Sam's WTF Conference merch & Montana shooting plans46:34 – Squad's Super Bowl plansWe're also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessYouTube: https://youtu.be/AgwMFLjxQa0Connect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

Deepak Sindwani is Managing Partner at Wavecrest Growth Partners, an active growth equity firm backing bootstrapped and lightly funded SaaS founders. They work with practical founders who've built profitable businesses to $5–$20M ARR and want help growing without VC pressure or losing control. Wavecrest invests in vertical SaaS companies growing 30–60% annually, typically profitable or breakeven. They help founders scale sales, pricing, analytics, and leadership teams while staying capital efficient. Investments are usually $10–$30M total, with founders often taking some liquidity while continuing to lead. Even with the excitement around AI-first companies from VCs, Deepak sees efficient growth equity in practical vertical SaaS as a great investment and a big opportunity for founders. AI is helping serious practical founders, not making them irrelevant. Key Takeaways Capital Efficiency Matters — Wavecrest only backs profitable or breakeven SaaS companies that already respect the business model fundamentals. Founder Liquidity Helps — Taking some money off the table reduces stress and helps founders make better long-term decisions. Vertical SaaS Wins — Deep industry knowledge and data create defensibility AI-first competitors struggle to replicate. AI Is Additive — Software plus AI and data creates more value than AI replacing SaaS systems of record. No One-Size Playbook — Growth equity works best when strategies are customized, not forced by rigid PE-style playbooks. Quote from Deepak Sindwani, Managing Partner at Wavecrest Growth Partners "We don't think B2B SaaS is dead. It may create great headlines to say, AI eats software. We think software plus AI is the right approach. Software, AI plus data. So they're harvesting and creating that data moat that is going to help make them defensible. "Then, using the AI tools, why not use the AI tools to provide more automation for customers? That's what we really think AI does: increase the ability to automate the use of their product and to get value.  "Every company that we're involved with has some AI initiative. How am I changing how I run my business? How am I changing marketing and sales and finance and customer success using AI? Every company is doing something in every function in terms of new tools and tests." Links Deepak Sindwani on LinkedIn Wavecrest Growth on LinkedIn Wavecrest Growth Partners website Podcast Sponsor – Lighter Capital This podcast is sponsored by Lighter Capital. In the last 15 years, Lighter Capital has helped over 600 software and SaaS founders secure simple, non-dilutive financing to grow a little faster—without giving up any precious equity or board seats to investors.  Simple debt funding from Lighter Capital can range from $50K to $10 million, with straightforward terms, no personal guarantees or covenants, and up to a 4-year payback period. Go to LighterCapital.com to apply and get a quick pre-qualification. Then talk with their experienced team to create a practical funding plan to achieve your goals.  The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com. Practical Founders CEO Peer Groups Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding.  A Practical Founders Peer Group is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by Greg Head.

Thanks to Mantle for supporting the pod—and launching the Global Hackathon 2025 with $150k in prizes, VC mentorship, and access to 7M+ Bybit users. Your next big idea could go live here The New York Stock Exchange just announced that it has developed a platform for the trading of tokenized equities with plans to unlock 24/7 trading for users. In this DEX in the City episode hosts Katherine Kirkpatrick Bos and Vy Le are joined by Superstate General Counsel Alex Zozos to unpack the implications of NYSE's move and how tokenization could reshape markets. Are traditional financial grants facing an Existential crisis? And will tokenization make most regulatory regimes redundant? Plus, Zozos explains why all tokenized equities are not the same. Hosts: Katherine Kirkpatrick Bos TuongVy Le Guests: Alex Zozos, General Counsel at Superstate Links: NYSE's Tokenized Trading Push Marks a Quiet Win for Crypto Inside Robinhood's Big Super App Plan: ‘There's Still a Lot of Work to Be Done' JPMorgan Launches Tokenized Money Market Fund on Ethereum Vy's paper on the evolution of capital markets Learn more about your ad choices. Visit megaphone.fm/adchoices

For episode 668 of the BlockHash Podcast, host Brandon Zemp is joined by Harvey Liu, CEO of LeveX Exchange.Harvey Liu is a global tech investor with over 15 years of experience in venture capital, digital assets, and emerging technologies. An early Bitcoin investor and former venture partner at a MAS-licensed Web3 fund, he has played key roles in evaluating major platforms like Huobi and OKCoin while building a diverse portfolio across CEX, GameFi, and blockchain infrastructure. With a background in Computer Science and an MBA from INSEAD, Harvey blends technical expertise with strategic vision, leading LeveX with a community-first, transparency-driven approach to the future of digital finance.  ⏳ Timestamps: (0:00) Introduction(1:02) Who is Harvey Liu?(6:52) What is LeveX?(12:08) Trading features of LeveX(13:24) Security & custody of user funds(14:52) Gamification on LeveX with rewards(17:55) Future of Crypto Trading(22:19) VC capital trends in Crypto(26:07) LeveX roadmap(30:19) Events & conferences(31:05) LeveX website, socials & community 

This week on The Data Minute, Peter sits down with Arian Ghashghai, Founding Partner at Earthling VC, to discuss his thesis of investing in "weird stuff early."Arian explains why he bets on robotic oyster farms, virtual reality, and ocean exploration when other investors are chasing the latest consensus trends. He breaks down his "pirate ship" approach to venture capital and why being the first check is often more valuable to a founder than being the "most helpful."They also discuss the current state of the VC market and why Arian believes many funds have shifted from true long-term investing to short-term trading. Plus, Arian shares his unfiltered advice on raising from LPs, why he ignores "signaling risk" from big funds, and why Zurich might have a higher talent density than San Francisco.Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/Chapters:00:00 – Intro: Investing in weird stuff02:07 – Intro to Earthling VC02:47 – The "weird stuff early" thesis03:57 – Who are the LPs backing weird tech?05:47 – Why VR is a polarizing investment08:55 – The value of transparency with LPs10:49 – Case study: Robotic oyster farms14:36 – Do LPs push back on style drift?16:06 – Why keep the fund size small?18:50 – Portfolio construction: Diversified vs. Concentrated19:56 – Fundraising advice: Find alignment, don't convince25:46 – Can a solo GP really support 50 companies?28:42 – The three types of investors: Biggest, First, Helpful30:50 – Speed as a competitive advantage33:03 – Why Safe caps are just demand-driven prices34:11 – The cynicism of modern venture capital38:02 – Are VCs investing or just trading?41:31 – Do we need more VCs?46:41 – Avoiding consensus deal flow48:17 – Why Zurich is an underrated tech hub50:50 – Why founders love explicit investorsThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2026 eShares, Inc., dba Carta, Inc. All rights reserved.

In this episode of Tank Talks, Matt Cohen sits down with Timothy Chen, the sole General Partner at Essence VC. Tim shares his remarkable journey from being a “nerdy, geeky kid” who hacked open-source projects to becoming one of the most respected early-stage infrastructure investors, backing breakout companies like Tabular (acquired by Databricks for $2.2 billion). A former engineer at Microsoft and VMware, co-founder of Hyperpilot (acquired by Cloudera), and now a solo GP who quietly raised over $41 million for his latest fund, Tim offers a unique, no-BS perspective on spotting technical founders, navigating the idea maze, and rethinking sales and traction in the world of AI and infrastructure.We dive deep into his unconventional path into VC, rejected by traditional Sand Hill Road firms, only to build a powerhouse reputation through sheer technical credibility and founder empathy. Tim reveals the patterns behind disruptive infra companies, why most VCs can't help with product-market fit, and how he leverages his engineering background to win competitive deals.Whether you're a founder building the next foundational layer or an investor trying to understand the infra and AI boom, this conversation is packed with hard-won insights.The Open Source Resume (00:03:44)* How contributing to Apache projects (Drill, Cloud Foundry) built his career when a CS degree couldn't.* The moment he realized open source was a path to industry influence, not just a hobby.* Why the open source model is more “vertical than horizontal”, allowing deep contribution without corporate red tape.From Engineer to Founder: The Hyperpilot Journey (00:13:24)* Leaving Docker to start Hyperpilot and raising seed funding from NEA and Bessemer.* The harsh reality of founder responsibility: “It's not about the effort hard, it's about all the other things that has to go right.”* Learning from being “way too early to market” and the acquisition by Cloudera.The Unlikely Path into Venture Capital (00:26:07)* Rejected by top-tier VC firms for a job, then prompted to start his own fund via AngelList.* Starting with a $1M “Tim Chen Angel Fund” focused solely on infrastructure.* How Bain Capital's small anchor investment gave him the initial credibility.Building a Brand Through Focus & Reputation (00:30:42)* Why focusing exclusively on infrastructure was his “best blessing” creating a standout identity in a sparse field.* The reputation flywheel: Founders praising his help led to introductions from top-tier GPs and LPs.* StepStone reaching out for a commitment before he even had fund documents ready.The Essence VC Investment Philosophy (00:44:34)* Pattern Recognition: What he learned from witnessing the early days of Confluent, Databricks, and Docker.* Seeking Disruptors, Not Incrementalists: Backing founders who have a “non-common belief” that leads to a 10x better product (e.g., Modal Labs, Cursor, Warp).* Rethinking Sales & Traction: Why revenue-first playbooks don't apply in early-stage infra; comfort comes from technical co-building and roadmap planning.* The “Superpower”: Using his engineering background to pressure-test technical assumptions and timelines with founders.The Future of Infra & AI (00:52:09)* Infrastructure as an “enabler” for new application paradigms (real-time video, multimodal apps).* The coming democratization of building complex systems (the “next Netflix” built by smaller teams).* The shift from generalist backend engineers to specialists, enabled by new stacks and AI.Solo GP Life & Staying Relevant (00:54:55)* Why being a solo GP doesn't mean being a lone wolf; 20-30% of his time is spent syncing with other investors to learn.* The importance of continuous learning and adaptation in a fast-moving tech landscape.* His toolkit: Using portfolio company Clerky (a CRM) to manage workflow.About Timothy ChenFounder and Sole General Partner, Essence VCTimothy Chen is the Sole General Partner at Essence VC, a fund focused on early-stage infrastructure, AI, and open-source innovation. A three-time founder with an exit, his journey from Microsoft engineer to sought-after investor is a masterclass in building credibility through technical depth and founder-centric support. He has backed companies like Tabular, Iteratively, and Warp, and his insights are shaped by hundreds of conversations at the bleeding edge of infrastructure.Connect with Timothy Chen on LinkedIn: linkedin.com/in/timchenVisit the Essence VC Website: https://www.essencevc.fund/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Kanwal Rekhi first came to the US in the 1960s. He took his company public on Nasdaq in 1987. As a young Indian in the US, he was laid off from his first three jobs. That experience pushed him towards entrepreneurship. At the time, Indians were known and hired for technical and mathematical skills, not as founders building companies on US soil.But Kanwal and his co-founders decided to bet on themselves. They faced rejection from nearly 50 investors before one VC agreed to invest $2 million for 50% of the company. In just five years, the company went public.From being appointed CEO overnight to being removed by the board two months before the IPO for a more “wall street-acceptable” CEO, this is a story of many firsts.After Excelan, Kanwal co-founded TiE in 1992 and has mentored tens of thousands of entrepreneurs. Beyond a personal story, Kanwal Rekhi is a turning point in how Indian founders came to be seen in Silicon Valley.0:00 – Trailer01:11 – How TiE was formed07:11 – DoT Hatao, Desh Bachao11:31 – Career opportunities in the 70s13:41 – When Indians weren't trusted to build companies15:44 – Pioneers in computer networking16:51 – Finding an Investor after 50 rejections20:31 – Becoming CEO overnight23:29 – Spare the story, show the numbers24:17 – The “Wall Street acceptable” CEO for IPO27:30 – Founders have to be financial thinkers28:14 – How Excelan could go public in just 5 years29:27 – Cost is unrelated to pricing in software31:12 – Do Indian companies need Americans to lead?34:05 – Benefits of registering in the US36:53 – $1 trillion to solve India's problems40:49 – Policies for India's startup ecosystem42:01 – Enabling entrepreneurs in villages44:41 – India in the 80s v/s today50:36 – US vs India vs China01:04:52 – How did IITs start allowing donations?01:07:25 – AI investments of Silicon Valley Quad01:18:29 – What Kanwal Rekhi looks for in founders?-------------India's talent has built the world's tech—now it's time to lead it.This mission goes beyond startups. It's about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that's done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we're doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

"There is a specific type of risk-taking that is always rewarded"Mikael Hajjar runs P1 Ventures. P1 Ventures has raised its first $50 million dollars fund at the beginning of 2025. But what's particularly interesting is that half of the fund will be invested in Francophone Africa. He tells Claude why Francophone Africa is the next investment hotspot.Plus: The biggest start-ups in Francophone Africa

Episode 144Happy New Year! This is one of my favorite episodes of the year — for the fourth time, Nathan Benaich and I did our yearly roundup of AI news and advancements, including selections from this year's State of AI Report.If you've stuck around and continue to listen, I'm really thankful you're here. I love hearing from you.You can find Nathan and Air Street Press here on Substack and on Twitter, LinkedIn, and his personal site. Check out his writing at press.airstreet.com.Find me on Twitter (or LinkedIn if you want…) for updates on new episodes, and reach me at editor@thegradient.pub for feedback, ideas, guest suggestions.Outline* (00:00) Intro* (00:44) Air Street Capital and Nathan world* Nathan's path from cancer research and bioinformatics to AI investing* The “evergreen thesis” of AI from niche to ubiquitous* Portfolio highlights: Eleven Labs, Synthesia, Crusoe* (03:44) Geographic flexibility: Europe vs. the US* Why SF isn't always the best place for original decisions* Industry diversity in New York vs. San Francisco* The Munich Security Conference and Europe's defense pivot* Playing macro games from a European vantage point* (07:55) VC investment styles and the “solo GP” approach* Taste as the determinant of investments* SF as a momentum game with small information asymmetry* Portfolio diversity: defense (Delian), embodied AI (Syriact), protein engineering* Finding entrepreneurs who “can't do anything else”* (10:44) State of AI progress in 2025* Momentous progress in writing, research, computer use, image, and video* We're in the “instruction manual” phase* The scale of investment: private markets, public markets, and nation states* (13:21) Range of outcomes and what “going bad” looks like* Today's systems are genuinely useful—worst case is a valuation problem* Financialization of AI buildouts and GPUs* (14:55) DeepSeek and China closing the capability gap* Seven-month lag analysis (Epoch AI)* Benchmark skepticism and consumer preferences (”Coca-Cola vs. Pepsi”)* Hedonic adaptation: humans reset expectations extremely quickly* Bifurcation of model companies toward specific product bets* (18:29) Export controls and the “evolutionary pressure” argument* Selective pressure breeds innovation* Chinese companies rushing to public markets (Minimax, ZAI)* (21:30) Reasoning models and test-time compute* Chain of thought faithfulness questions* Monitorability tax: does observability reduce quality?* User confusion about when models should “think”* AI for science: literature agents, hypothesis generation* (23:53) Chain of thought interpretability and safety* Anthropomorphization concerns* Alignment faking and self-preservation behaviors* Cybersecurity as a bigger risk than existential risk* Models as payloads injected into critical systems* (27:26) Commercial traction and AI adoption data* Ramp data: 44% of US businesses paying for AI (up from 5% in early 2023)* Average contract values up to $530K from $39K* State of AI survey: 92% report productivity gains* The “slow takeoff” consensus and human inertia* Use cases: meeting notes, content generation, brainstorming, coding, financial analysis* (32:53) The industrial era of AI* Stargate and XAI data centers* Energy infrastructure: gas turbines and grid investment* Labs need to own models, data, compute, and power* Poolside's approach to owning infrastructure* (35:40) Venture capital in the age of massive GPU capex* The GP lives in the present, the entrepreneur in the future, the LP in the past* Generality vs. specialism narratives* “Two or 20”: management fees vs. carried interest* Scaling funds to match entrepreneur ambitions* (40:10) NVIDIA challengers and returns analysis* Chinese challengers: 6x return vs. 26x on NVIDIA* US challengers: 2x return vs. 12x on NVIDIA* Grok acquired for $20B; Samba Nova markdown to $1.6B* “The tide is lifting all boats”—demand exceeds supply* (44:06) The hardware lottery and architecture convergence* Transformer dominance and custom ASICs making a comeback* NVIDIA still 90–95% of published AI research* (45:49) AI regulation: Trump agenda and the EU AI Act* Domain-specific regulators vs. blanket AI policy* State-level experimentation creates stochasticity* EU AI Act: “born before GPT-4, takes effect in a world shaped by GPT-7”* Only three EU member states compliant by late 2025* (50:14) Sovereign AI: what it really means* True sovereignty requires energy, compute, data, talent, chip design, and manufacturing* The US is sovereign; the UK by itself is not* Form alliances or become world-class at one level of the stack* ASML and the Netherlands as an example* (52:33) Open weight safety and containment* Three paths: model-based safeguards, scaffolding/ecosystem, procedural/governance* “Pandora's box is open”—containment on distribution, not weights* Leak risk: the most vulnerable link is often human* Developer–policymaker communication and regulator upskilling* (55:43) China's AI safety approach* Matt Sheehan's work on Chinese AI regulation* Safety summits and China's participation* New Chinese policies: minor modes, mental health intervention, data governance* UK's rebrand from “safety” to “security” institutes* (58:34) Prior predictions and patterns* Hits on regulatory/political areas; misses on semiconductor consolidation, AI video games* (59:43) 2026 Predictions* A Chinese lab overtaking US on frontier (likely ZAI or DeepSeek, on scientific reasoning)* Data center NIMBYism influencing midterm politics* (01:01:01) ClosingLinks and ResourcesNathan / Air Street Capital* Air Street Capital* State of AI Report 2025* Air Street Press — essays, analysis, and the Guide to AI newsletter* Nathan on Substack* Nathan on Twitter/X* Nathan on LinkedInFrom Air Street Press (mentioned in episode)* Is the EU AI Act Actually Useful? — by Max Cutler and Nathan Benaich* China Has No Place at the UK AI Safety Summit (2023) — by Alex Chalmers and Nathan BenaichResearch & Analysis* Epoch AI: Chinese AI Models Lag US by 7 Months — the analysis referenced on the US-China capability gap* Sara Hooker: The Hardware Lottery — the essay on how hardware determines which research ideas succeed* Matt Sheehan: China's AI Regulations and How They Get Made — Carnegie EndowmentCompanies Mentioned* Eleven Labs — AI voice synthesis (Air Street portfolio)* Synthesia — AI video generation (Air Street portfolio)* Crusoe — clean compute infrastructure (Air Street portfolio)* Poolside — AI for code (Air Street portfolio)* DeepSeek — Chinese AI lab* Minimax — Chinese AI company* ASML — semiconductor equipmentOther Resources* Search Engine Podcast: Data Centers (Part 1 & 2) — PJ Vogt's two-part series on XAI data centers and the AI financing boom* RAAIS Foundation — Nathan's AI research and education charity Get full access to The Gradient at thegradientpub.substack.com/subscribe

From investment banker to crypto fund strategist, Stas Sukhinin shares insider perspectives on how credit committees really make decisions, why over-leveraged companies fail fast during downturns, and where stablecoins are creating trillion-dollar transaction opportunities. In this episode of the DealQuest Podcast, host Corey Kupfer sits down with Stas Sukhinin, a finance veteran with over 19 years of experience spanning investment banking, corporate lending, and alternative asset management. Stas began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products in Eastern Europe. By age 29, he had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio. WHAT YOU'LL LEARN: In this episode, you'll discover what really happens inside credit committees when your loan application gets reviewed and why factors unrelated to your business can determine outcomes. Stas explains how strong companies can go from healthy to restructuring in just three to four months when leverage catches up with them, and the critical difference between how first-time owners and experienced operators approach debt decisions. You'll learn the two key factors that determine how much debt your business can handle, why working capital provisions in purchase agreements deserve more attention than most buyers give them, and how sellers legally present financials in the most favorable light. The conversation also covers Stas's experience investing in the 2017 ICO boom where 90% of projects went to zero but winners returned 50x to 100x, why venture capital investors sometimes block deals that would be life-changing for founders, and where stablecoin transaction volume is already reaching trillions while most people remain unaware. STAS'S JOURNEY: Stas's path into finance started at age 14 when a classmate brought a business magazine to school. Reading about business owners selling companies for millions crystallized his direction. He knew he wanted to be in corporate lending where he could see businesses, analyze financials, and speak directly with owners while working with numbers at a bank. His first role as a junior credit analyst gave him exactly that. He progressed from working with small businesses that had no financials to mid-sized companies to large corporations. Each step taught him more about how deals really get done from inside the institutions making funding decisions. CREDIT COMMITTEE INSIGHTS: Stas pulls back the curtain on what actually happens when loan applications reach credit committees. The reality differs dramatically from what most business owners imagine. Factors affecting approval can seem completely unrelated to the specific deal. Maybe the bank already has a competitor in their portfolio. Maybe the receivable financing department has a different relationship with someone in your industry. One offhand comment from a committee member who hasn't read the full memo can change the entire trajectory of a conversation or result in higher interest rates. DEBT MANAGEMENT LESSONS: The pattern Stas has seen destroy companies in months follows predictable steps. Revenue drops or stagnates. Margins deteriorate because of increased competition and client uncertainty. Debt ratios that looked comfortable suddenly reach concerning levels. Refinancing options disappear just when needed most. Interest rates climb. Everything compounds simultaneously. The difference between experienced and first-time business owners comes down to scenario planning. Experienced operators build safety margins and stress-test assumptions. First-time owners assume conditions will continue as they are. That assumption determines survival. ALTERNATIVE INVESTMENTS: Stas joined a crypto investment fund at its inception in 2017 during the ICO boom. Out of many investments, approximately 90% went to zero. The winners returned 50x or 100x. His observation about liquidity cycles was particularly interesting. Traditional venture now averages seven-year holding periods while crypto projects can reach liquidity events in three or four years through token distributions. On stablecoins, Stas sees enormous opportunity in programmable money. Transaction volume is already in the trillions though most people in developed countries don't realize the scale. Goldman Sachs reportedly reduced bond settlement time from three days to minutes using blockchain technology. Perfect for business owners considering debt financing, entrepreneurs navigating capital raising, and anyone interested in how credit decisions really get made and where alternative investments are creating new opportunities. FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/stassukhinin FOR MORE ON STAS SUKHININ: https://www.thesourcer.so https://www.linkedin.com/in/stassukhinin/ FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps: [00:00] - Introduction: Stas Sukhinin's 19 years in finance from investment banking to crypto [03:26] - First deal experience: Structuring a real estate development loan with disbursement tied to sales [05:47] - Hidden factors: Why deals get rejected for reasons unrelated to underwriting criteria[08:20] - Committee dynamics: How one comment from an uninvolved member changes deal trajectories [11:41] - Timing and instruments: When companies use the wrong type of capital [15:55] - Risk assumptions: The difference between first-time and experienced business owners [18:29] - Volatility factors: How income stability determines appropriate leverage levels [21:09] - M&A implications: Structuring adjustment provisions for concentration risk [24:09] - Liquidity advantages: Why crypto offers shorter holding periods than traditional venture[27:55] - Venture math: The story of a VC blocking a life-changing exit for 1x returns [29:27] - Due diligence limitations: Legal ways sellers present favorable financials [32:14] - Stablecoins explained: Digital tokens designed to maintain dollar parity [36:31] - Programmable money: Smart contracts that execute automatically on conditions [38:00] - Financial advisory services: How Stas helps business owners understand their financials[39:14] - Freedom defined: Removing gatekeepers and accessing financial systems without barriers Guest Bio: Stas Sukhinin has over 19 years of experience in finance spanning investment banking, corporate lending, and alternative asset management. He began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products and shaped the market in Eastern Europe. By age 29, Stas had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio. He later served on boards of several private companies, deepening his expertise across credit investments and corporate governance. Recognizing early opportunities in alternative assets, Stas joined a crypto investment fund at its inception in 2017 and continues to lead its strategy and operations. He now helps business owners run more efficiently from the lens of financials through his advisory practice. Host Bio: Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker deeply passionate about deal-driven growth. He is the creator and host of the DealQuest Podcast. Show Description: Do you want your business to grow faster? The DealQuest Podcast with Corey Kupfer reveals how successful entrepreneurs and business leaders use strategic deals to accelerate growth. From large mergers and acquisitions to capital raising, joint ventures, strategic alliances, real estate deals, and more, this show discusses the full spectrum of deal-driven growth strategies. Get the confidence to pursue deals that will help your company scale faster. Related Episodes: Episode 350 - Tom Dillon: When NOT to Take Venture Capital Money: Explore alternative funding sources including private credit, SBA loans, and sale-leasebacks with a fractional CFO who works with startups on capital strategy. Episode 370 - Gerry Hays: Democratizing Venture Capital Through VentureStaking: Discover alternative approaches to early-stage investing that don't require massive checks or exclusive networks. Episode 85 - Nick Adams: Seed Stage Venture Capital Funds: Understand how traditional VCs think about early-stage deals and what metrics they evaluate from the investor perspective. Episode 351 - Solocast: Deal Structures Beyond M&A and Capital Raising: Learn about joint ventures, strategic alliances, licensing agreements, and other creative partnership models for business growth. Episode 324 - Sejal Lakhani-Bhatt: Tech Due Diligence in M&A: Explore how technology systems and cybersecurity impact business valuation and deal outcomes. Episode 330 - Pete Mohr: Preparing Your Business for Exit: Understand why sellers often cause deals to fail and how to prepare for the emotional aspects of selling a business. Follow DealQuest Podcast: LinkedIn: https://www.linkedin.com/in/coreykupfer/ Website: https://www.coreykupfer.com/ Follow Stas Sukhinin: LinkedIn: https://www.linkedin.com/in/stassukhinin/ Website: https://www.thesourcer.so Keywords/Tags: corporate lending insights, credit committee decisions, debt management for businesses, mezzanine lending, alternative asset management, crypto investment strategy, stablecoin business applications, EBITDA management, leverage risk, working capital due diligence, venture capital exits, ICO investing, blockchain finance, programmable money, business financing, capital structure, due diligence strategies, financial advisory, dealmaking, business growth strategies

From time to time, we'll re-air a previous episode of the show that our newer audience may have missed. During this episode, Santosh is joined by Matthew Perkins, the Founder & CEO of Macro Oceans, a company that transforms 100% traceable kelp into potent marine bioactives and innovative materials. The discussion centers on Macro Oceans' innovative transformation of kelp into low-carbon biomaterials as sustainable alternatives to petrochemical products. Matthew shares insights into kelp farming in Alaska, the benefits of kelp in beauty and skincare products, and the company's commitment to sustainability and transparency. The episode highlights the intersection of technology, sustainability, and consumer demand, showcasing Macro Oceans' efforts to utilize 100% of harvested kelp and promote eco-friendly practices. Don't miss it!Highlights from their conversation include:Macro Oceans Overview (1:10)Matthew's Background and Journey to Macro Oceans (2:19)Kelp in Beauty Products (3:23)Kelp Industry Overview (6:23)Post-Harvest Processing (8:26)Consumer Demand for Transparency (10:28)Operationalizing Traceability (12:21)Green Premium Concept (15:30)Zero Waste Philosophy (17:28)Final Thoughts and Takeaways (19:50)Dynamo is a VC firm led by supply chain and mobility specialists that focus on seed-stage, enterprise startups.Find out more at: https://www.dynamo.vc/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

2025 was, undoubtedly, the year of AI. In the first episode of 2026 Beezer Clarkson, Partner at Sapphire Partners, and Nick Chirls, Partner at Asylum Ventures revisit some of their favorite moments from the year before to see what the top voices in VC saw as emerging AI trendlines and how the venture ecosystem and global markets might respond next. In this episode we'll hear from – among others – Sarah Tavel of Benchmark about what it means to be truly AI native, Sunil Dhaliwal & Mike Dauber of Amplify about finding technical VCs in the age of AI, and Micah Rosenbloom of Founder Collective on how early stage venture often misses major trends like AI until it's too late.Learn more about Sapphire Partners: sapphireventures.com/sapphire-partnersLearn more about OpenLP: openlp.vcLearn more about Asylum Ventures: asylum.vcLearn more about Benchmark: benchmark.comLearn more about Amplify: amplifypartners.comLearn more about Founder Collective: foundercollective.comLearn more about Curie.Bio: curie.bioRead Sarah's Substack Posts: sarahtavel.comCHAPTERS:0:00 Welcome to Origins3:36 Being AI Native with Sarah Tavel10:36 Finding Technical Founders with Mike Dauber & Sunil Dhaliwal14:31 Early Stage Founders Are 7 Years Too Late with Micah Rosenbloom23:04 What AI CAN'T Do with Zach Weinberg28:37-Technical vs. Product Genius with Sarah Tavel38:49 Nick & Beezer's AI Trends to Watch In 2026For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: subscribe.openlp.vcOrigins is produced by Sapphire Ventures in partnership with⁠ Pod People.Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures' views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.

What does it really take to acquire 26 SaaS businesses—and keep them growing? In this episode, Jaryd Krause sits down with SaaS M&A professional Guillaume Lussato for a behind-the-scenes look at how successful software acquisitions actually happen. Guillaume breaks down his unconventional path from software sales at a cybersecurity company to sourcing and closing deals at Constellation Software, one of the most disciplined acquirers in the SaaS world. Guillaume reveals why the best SaaS acquisitions aren’t rushed deals but relationships built over years. He shares how patience, credibility, and consistent founder outreach led to his first acquisition at SaaS Group—a low-profile digital calendar tool called DacBoard—and why targeting under-the-radar SaaS companies can unlock outsized opportunities. The conversation dives deep into today’s hyper-competitive M&A environment, including how to stand out when every founder is being pitched. Guillaume unpacks the red flags most buyers miss, from risky customer concentration to weak net dollar retention, and explains SaaS Group’s clear acquisition framework—capital-efficient, product-led growth businesses with strong fundamentals. The episode wraps with a powerful discussion on how to balance organic growth with acquisitions, avoid overextension, and make smarter strategic decisions when scaling a portfolio of software companies. If you’re serious about SaaS acquisitions, this episode is a must-watch. Click through and watch the full video to learn exactly how Guillaume evaluates, sources, and scales SaaS businesses. Episode Highlights 02:52 Transition from Sales to M&A Origination 05:52 The Art of Deal Sourcing 09:04 Evaluating Founders and Their Businesses 11:47 Understanding Acquisition Criteria 15:10 Growth Strategies: M&A vs. Organic Growth 18:00 Identifying Red Flags in Due Diligence 21:06 Navigating Operational Complexity 23:57 AI Risks and Opportunities in Software 27:06 Balancing Capital Allocation and Diversification Key Takeaways ➥ You need to build relationships, build trust, build credibility. ➥ It can take a really long time to acquire a business. ➥ We try to identify red flags as early as possible. ➥ We don't manage our portfolio through spreadsheets; we're not finance people. ➥ Should we buy it? Why? For how much? About Guillaume Lussato Guillaume Lussato is a senior business development and M&A professional at saas.group, where he helps identify, acquire and scale profitable B2B SaaS companies. He hosts discussions on SaaS M&A, growth, and founder transitions and frequently speaks at industry events about how to grow without VC and what makes SaaS acquisitions succeed or fail. Guillaume focuses on sourcing deals, operational playbooks for scaling post-acquisition, and practical insights that matter to anyone buying online businesses to replace income, scale a portfolio, or prepare for exits. Connect with Guillaume Lussato ➥ https://www.linkedin.com/in/guillaumelussato/ Resource Links ➥ Connect with Jaryd here - https://www.linkedin.com/in/jarydkrause➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/➥ Sell your business to us here - https://buyingonlinebusinesses.com/sell-your-business/ ➥ Google Ads Service - https://buyingonlinebusinesses.com/ads-services/ Buy & Sell Online Businesses Here (Top Website Brokers We Use)

Today on the Invest In Her Podcast, host Catherine Gray interviews Judyanna Yu, Founding Partner of One Six 8 Ventures. Judyanna is a seasoned finance executive and venture capitalist with nearly two decades of experience as a CFO across VC-backed public and private medtech and biotech companies. Based in Calgary, she leads One Six 8 Ventures, a venture capital fund focused on high-growth medtech opportunities in active M&A markets, with a particular emphasis on under-ventured regions. Drawing from a global career that spans eight cities across North America and Asia, Judyanna brings deep expertise in capital formation, financial governance, and scaling breakthrough technologies with real-world, life-saving impact. In this episode, Catherine and Judyanna explore what it takes to evaluate and scale transformative medical technologies, the importance of disciplined financial leadership in venture-backed companies, and how global networks can accelerate innovation beyond traditional venture hubs. Judyanna shares insights from her transition from CFO to fund founder, discusses the role of physician and operator-led diligence in medtech investing, and offers perspective on how founders can position themselves for sustainable growth and successful exits. The conversation also highlights the critical need to support innovation in overlooked markets and how intentional capital deployment can bring world-changing healthcare solutions to a global stage.

Pediatric neuropalliative medicine is an emerging area of subspecialty practice that emphasizes the human experience elements of serious neurologic illness. Child neurologists care daily for patients who can benefit from the communication strategies and management practices central to pediatric neuropalliative medicine, whether at the primary or subspecialty level. In this episode, Gordon Smith, MD, FAAN, speaks with Lauren Treat, MD, author of the article "Neuropalliative Medicine in Pediatric Neurology" in the Continuum® December 2025 Neuropalliative Care issue. Dr. Smith is a Continuum® Audio interviewer and a professor and chair of neurology at Kenneth and Dianne Wright Distinguished Chair in Clinical and Translational Research at Virginia Commonwealth University in Richmond, Virginia. Dr. Treat is an associate professor in the divisions of child neurology and palliative medicine at the University of Colorado School of Medicine in Aurora, Colorado. Additional Resources Read the article: Neuropalliative Medicine in Pediatric Neurology Subscribe to Continuum®: shop.lww.com/Continuum Earn CME (available only to AAN members): continpub.com/AudioCME Continuum® Aloud (verbatim audio-book style recordings of articles available only to Continuum® subscribers): continpub.com/Aloud More about the American Academy of Neurology: aan.com Social Media facebook.com/continuumcme @ContinuumAAN Host: @gordonsmithMD Full episode transcript available here Dr Jones: This is Dr Lyell Jones, Editor-in-Chief of Continuum. Thank you for listening to Continuum Audio. Be sure to visit the links in the episode notes for information about earning CME, subscribing to the journal, and exclusive access to interviews not featured on the podcast. Dr Smith: This is Gordon Smith. Today I've got the great pleasure of interviewing my good friend Dr Lauren Treat about her article on neuropalliative medicine in pediatric neurology practice. This article appears in the December 2025 Continuum issue on neuropalliative care. Lauren, welcome to the Continuum podcast, and maybe you can introduce yourself to our listeners. Dr Treat: Such a delight to be here, Gordon. Thank you. I am a pediatric neurologist and palliative medicine doctor at the University of Colorado, Children's Hospital Colorado, and I am practicing in both areas. I do general child neurology, and I also run a pediatric neuropalliative medicine clinic. So, I'm happy to be here to talk about it. Dr Smith: And, truth in advertising, I tried very hard to get Dr Treat to move to VC to work with me. And I haven't given up yet. I'm looking forward to the conversation. And Lauren, I wonder- one, I'm really excited about this issue, by the way. This is the second podcast I've done. And I'd like to ask the same question I asked of David Oliver, who's amazing. What a great article and conversation we had. And that question is, can you define palliative care? I think a lot of people think of it as, like, end-of-life care or things like that. And is the definition a little different in the pediatric space than it is in the adult space? Dr Treat: Such a great place to start, Gordon. I absolutely think that there are nuances that are very important in pediatrics. And we especially acknowledge in pediatrics that there is a very longitudinal component of this. And even moreso, I think, then in adult neuropalliative medicine, in pediatrics, we are seeing people=even prenatally or early in their first hours and days of life, and walking with them on a journey that might last days or weeks, but might last years or decades. And so, there is this sense that we are going to come alongside them and be part of the ups and the downs. So yes, neuropalliative medicine is a kind of medicine that is a very natural partner to where neurology is in its current field. We're doing a lot of exciting things with modifying diseases, diagnosing things early, and we have a very high reliance on the things that we can measure in medicine. And not all things can be measured that are worthwhile about one's quality of life. A family very poignantly told me very recently, making sure someone stays alive is different from making sure they have a life. And that's what neuropalliative medicine is about. Dr Smith: Well, great summary, and I definitely want to follow up on several aspects of that, but there's one point I was really curious about as I've been thinking about this, you know, these are really exciting times and neurology in general and in child neurology in particular. And we've got all of these exciting new therapies. And as you know, I'm a neuromuscular person, so it's hard not to think back on SMA and not be super excited. And so, I wonder about the impact of these positive developments on the practice of neuropalliative care in kids. You know, I'm just thinking, you know, you mentioned it's a journey with ups and downs. And I wonder, the complexity of that must be really interesting. And I bet your job looks different now than it did seven or eight years ago. Dr Treat: That's absolutely true. I will self-reference here one of the figures in the paper. Figure 2 in my section is about those trajectories, about how these journeys can have lots of ups and downs and whether this person had a normal health status to begin with or whether they started out life with a lot of challenges. Those ups and downs inherently involve a lot of uncertainty. And that's where palliative medicine shines. Not because we have the answer---everyone would love for us to have the answer---but because we consider ourselves uncertainty specialists in the way that we have to figure out what do we know, what can we ground ourselves in, and how can we continue to move forward even if we don't have all the answers? That is a particular aspect of neurology that is incredibly challenging for families and clinicians, and it can't stand as a barrier to moving forward and trying to figure out what's best for this child, what's best for this family. What do we know to be true about them as people, and how can we integrate that with all of the quantitative measures that we know and love in neurology? Dr Smith: So, I love the comment about prognostication, and this really ties into positive uncertainty or negative undercertainty in terms of therapeutic development. I wonder if you can talk a little bit about your approach to prognostication, particularly in a highly fluid situation. And are there pearls and pitfalls that our listeners should consider when they're discussing prognosis for children, particularly maybe young children who have severe neurological problems? Dr Treat: It's such a pivotal issue, a central issue, to child neurology practice. Again, because we are often meeting people very, very early on in their journey---earlier than we ever have before, sometimes, because of this opportunity to have a diagnosis, you know, prenatally or genetically or whatever else it is---sometimes we are seeing the very early signs of something as compared to previously where we wouldn't have a diagnosis until something was in its more kind of full-blown state. This idea of having a spectrum and giving people the range of possible outcomes is absolutely still what we need to do. However, we need to add on another skill on top of that in helping people anchor into what feels like the most likely situation and what the milestones are going to be in the near future, about how we're going to walk this journey and what we'll be on the lookout for that will help us branch into those different areas of the map down the road. Dr Smith: So, I wonder if we can go back to the framework you mentioned, two answers ago, I think? You and the article, you know, provide four different types of situations kind of based on temporal progression. I wonder if maybe the best way of approaching is to give an example and how that impacts your thoughts of how you manage a particular situation. Dr Treat: Absolutely. So, this figure in particular is helpful in multiple ways. One is to just give a visual of what these disease trajectories are doing, because we're doing that when and we take a history from a patient. But actually, to put it into an external visual for yourself, for your team, but also perhaps for the family can be really powerful. It helps you contextualize the episode of care in which you're meeting the family right now. And it also helps, sometimes, provide some sense of alignment or point out some discrepancies about how you're viewing that child's health and quality of life as compared to how the family might be viewing it. And so, if you say, you know, it sounds like during those five years before we met, you were up here, and now we find ourselves down here, and we're kind of in the middle of the range of where I've seen this person's health status be. Do I have that right? Families feel really seen when you do that and when you can get it accurately. And it also invites a dialogue between the two parties to be able to say, well, maybe I would adjust this. I think we had good health or good quality of life in this season. But you're right, it's getting harder. It's kind of that "show, don't tell" approach of bringing together all the facts to put together the relative position of where we are now in the context of everything they've been through. Dr Smith: You know, I wonder if you could talk a little bit more about the differences between palliative care and adult patients and in children? Dr Treat: Absolutely. One of the key features in pediatrics is this kind of overriding sense of an out-of-order event in the family's life. Children are not supposed to have illness. Children are not supposed to have disability. Children are not supposed to die before their parents. And that layer of tragedy is incredibly heavy and pervasive. It's not every encounter that you have in child neurology, but it does kind of permeate some of the conversations that neurologists have with their patients, especially patients who have serious neurological disease. So that could be things like epileptic encephalopathies, birth injuries, other traumatic brain injuries down the line. In the paper, I'd go through many different categories of the types of conditions that are eligible for pediatric neuropalliative medicine, that kind of support. When we think about that layer of tragedy in the relation to where we're meeting these families, they deserve extra support, not just to think about the medicines and the treatments, but also, what can we hope for? How can we give this child the best possible life in whatever circumstance that they're in? How can we show up in whatever medical decision-making circumstances present themselves to us and feel like we've done right by this child? It's a complex task, and pediatric neural palliative medicine is evolving to be able to be in those spaces with families in a very meaningful way. Dr Smith: So, of course, one of the differences is the, you know, very important role of parents in the situation, right? Obviously, parents are involved in adult palliative care issues and family is very important. But I wonder if you can talk about specific considerations given the parent-child relationship? Dr Treat: So, pediatric neuropalliative medicine really helps facilitate discussions not just about, again, those things that we have data on, but also about what is meaningful and foundational for those families. What's possible at home, what's possible in the community. In pediatrics, parents are making decisions on behalf of their child, often as a dyad, and I don't think this gets enough attention. We know from adult literature that making decisions on behalf of someone else is different from making decisions on behalf of oneself. We call this proxy decision-making. And proxies are more likely to be conservative on behalf of someone else than they are on behalf of themselves, and they're also more likely to overestimate the tolerability of a medical intervention. So, they might say, I wouldn't want this, or, I wouldn't accept this risk on behalf of myself, or, I don't think I'd want to have to persevere through something, but on behalf of this other person, I think they can do it or I will help them through it or something else like this, or, I can't accept the risk on behalf of them. So that's not good or bad. That's just different about making a decision on behalf of oneself as compared to making a decision on behalf of someone else. When there's two people trying to be proxies on behalf of a third person, on behalf of a child, that's a really, really complex task, and it deserves support. And so, pediatric neural palliative medicine can function, then, as this neutral space, as this kind of almost coaching opportunity alongside the other medical doctors to give parents an opportunity when their minds are calm---not in the heat of the moment---to talk about how they see their child, how they've shown up themselves, what they've seen go well, what they've struggled with. And how,, then we can feel prepared for future decision making times, future high-stress encounters, about what will be important to ground them in those moments, even though we can't predict fully what those circumstances might be. Dr Smith: It sounds, you know, from talking to you and having read the article, that these sorts of issues evolve over time, right? And you have commented on this already from your very first answer. And you do describe a framework for how parents think---their mental model, I guess---of, you know, a child with a serious illness. And this sounds like appreciation of that's really important in providing care. Maybe you can talk us through that topic? Dr Treat: I refer to this concept of prognostic awareness in all of the conversations that we have with families. So, what I mean by prognostic awareness is the degree of insight that an individual has about what's currently happening with their child and what may happen in the future regarding the disease and/or the complications. And when we meet people early on in their journey, often their prognostic awareness, that sense of insight about what's going on, can be limited because it requires lived experience to build. Oftentimes time is a factor in that, we gain more lived experience over time, but it's not just time that goes into building that. It's often having a child who has a complication. Sometimes it's experiencing a hospitalization. That transfer from a cognitive understanding of what's going on, from a lived experience about what's going on, really amplifies that prognostic awareness, and it changes season by season in terms of what that family is going through and what they're willing to tolerate. Dr Smith: You introduced a new term for me, which is hyper-capableism. Can you talk about that? I found that really interesting and, you know, it reminds me a lot of the epiphanies that we've had about coma and coma prognosis. So, what's hyper-capableism? Dr Treat: Yes. In neurology, we have to be very aware of our views on ableism, on understanding how we prognosticate in relation to what we value about our abilities. And hyper-capableism refers to someone who feels very competent both cognitively and from a motor standpoint and fosters that sense of value around those two aspects to a high degree. I'm referencing that in the article with regard to medicine, because medicine, the rigors of training, the rigors of practice, require that someone has mental and motor fortitude. That neurology practice and medical practice in general can breed this attitude around the value of skills in both of those areas. And we have to be careful in order to give our patients and families the best care, to not overly project our values and our sense of what's good and bad in the world regarding ableism. Impairments can look different in different social contexts. And when the social context doesn't support an impairment, that's where people struggle. That's where people have stigma. And I think there's a lot of work that we can do in society at large to help improve accommodations for impairment so that we have less ableism in society. Dr Smith: Another term that I found really interesting kind of going back to parents is the "good parent identity." Maybe you can talk about that? Dr Treat: Good parent identity, good parent narrative, is something that is inherent to the journey when you're trying to take care of and make decisions on behalf of a child. And whether you're in a medical context or outside of a medical context, all parents have this either explicit or implicit sense of themselves about what it means to do right by their child. This comes up very poignantly in complex medical conditions because there are so many narratives about what parents ought to do on behalf of their child, and some of those roles can be in tension with one another. It's a whole lot of verbs that often fall under that identity. It's about being able to love and support and take good care of and make good decisions on behalf of someone. But it's also about protecting them from harm and treating their pain and being able to respond to them and know their cues and know these details about them. And you can't, sometimes, do multiple of those things at once. You can't give them as much safety and health as possible and also protect them from pain and suffering when they have a serious illness, when they need care in the hospital that might require a treatment that might be invasive or burdensome to them. And so, trying to be a good parent in the face of not being able to fulfill all those different verbs or ideas about what a good parent might do is a big task. And it can help to make it an explicit part of the conversation about what that family feels like their good parent roles might be in a particular situation. Dr Smith: I want to shift a little bit, Lauren, that's a really great answer. And just, you know, listening to you, your language and your tongue is incredibly positive, which is exciting. But, you know, you have talked about up and downs, and I wanted you to comment on a quote. I actually wrote it down, I'm going to read it to you, because you mentioned this early on in your article: "the heavy emotional and psychological impacts of bearing witness to suffering as a child neurologist." I think all of us, no matter how excited we are about all the therapeutic development, see patients who are suffering. And it's hard when it's a child and you're seeing a family. I wonder if you could talk a little bit about that comment and how you balance that. You're clearly- you're energized in your career, but you do have to bear witness to suffering. Dr Treat: You're right. Child neurologists do incredible work, it's an incredible, exciting field, and there are a lot of challenges that we see people face. And we see it impacts their lives in really intense ways over the course of time. We bear witness to marriages that fall apart. We bear witness to families that lose jobs or have to transition big pieces of their identity in order to care for their children. And that impacts us. And we hold the collective weight of the things that we are trying to improve but sometimes feel less efficacious than we hoped that we could around some of these aspects of people's lives. And so, pediatric neuropalliative medicine is also about supporting colleagues and being able to talk to colleagues about how the care of the patients and the really real effort that we exert on their behalf and the caring that we have in our hearts for them, how that matters. Even if the outcome doesn't change, it's something that matters for our work and for our connections with these families. It's really important. Dr Smith: I wonder, maybe we can end by learning a little bit about your journey? And maybe this is your opportunity to- I know we have students and residents who listen to us, and junior faculty. I think neuropalliative care is obviously an important issue. There's a whole Continuum issue on it---no pun intended---but what was your journey, and maybe what's your pitch? Dr Treat: I'm just going to give a little bit of a snippet from a poem by Andrea Gibson, who's a poet, that I think speaks really clearly to this. They say a difficult life is not less worth living than a gentle one. Joy is simply easier to carry than sorrow. I think that sums these things up really well, that we find a lot of meaning in the work that we do. And it's not that it's easier or harder, it's just that these things all matter. I'm going to speak now, Gordon, to your question about how I got to my journey. When I went into pediatrics and then neuro in my training, I have always loved the brain. It's always been so crucial to what I wanted to do and how I wanted to be in the world. And when I was in my training, I saw that a lot of the really impactful conversations that we were having felt like we left something out. It felt like we couldn't talk about some of the anticipated struggles that we would anticipate on a human level. We could talk about the rate and the volume of the G tube, but we couldn't talk about how this was going to impact a mother's sense of being able to nourish and bond and care for their child because we didn't have answers for those things. And as I went on in my journey, I realized that even if we don't have answers, it's still important for us to acknowledge those things and talk about them and be there for our patients in those conversations. Dr Smith: Well, Lauren, what a great way to end, and what a wonderful conversation, and what a great article. Congratulations and thank you. Dr Treat: Thank you, Gordon. It was a pleasure to be here. Dr Smith: Again today, I've been interviewing Dr Lauren Treat about her really great article on neuropalliative medicine in pediatric neurology practice. This article appears in the December 2025 Continuum issue on neuropalliative care. Be sure to check out Continuum Audio episodes from this issue and other issues. And thanks again to you, our listeners, for joining us today. Dr Monteith: This is Dr Teshamae Monteith, associate editor of Continuum Audio. If you've enjoyed this episode, you'll love the journal, which is full of in-depth and clinically relevant information important for neurology practitioners. Use the link in the episode notes to learn more and subscribe. AAN members, you can get CME for listening to this interview by completing the evaluation at continpub.com/audioCME. Thank you for listening to Continuum Audio.

This Week In Startups is made possible by:Circle.so - http://Circle.so/twistDeel - http://deel.com/twistUber AI Solutions - http://uber.com/twistToday's show:Not long ago, promising young Japanese graduates wanted to go work for the largest, most established, and even oldest corporations: Sony, Mitsubishi, and the like. But now, just over the last few years, more and more Japanese people are becoming entrepreneurs and founders. TWiST Japan continues with a fascinating look inside the country's growing startup ecosystem with special guest, venture capitalist Shinichi “Shin” Takamiya. He'll walk Jason through how Japan stayed ahead of the rest of the world in technology, but started falling behind when it came to founding companies, and how the Japanese are now starting to level the playing field.PLUS why his fund, Globis, sees other VC firms as collaborators rather than the competition… How AI is helping Japanese and American founders build their companies more quickly… Why Jason prefers training younger people to become VCs rather than hiring more experienced players… Shin's guide to eating out in Tokyo… and much more!Timestamps: (00:00) We're so excited to bring Founder University in Japan!(04:15) Jason and our guest first met 15-25 years ago…(06:06) How is Japan always so far ahead of the rest of the world?(08:29) Globis is one of Japan's largest and oldest venture capital firms!(10:48) Circle.so -  the easiest way to build a home for your community, events, and courses — all under your own brand. TWiST listeners get $1,000 off Circle's Professional Plan by going to http://Circle.so/twist(12:38) Why founders need to play the long game when it comes to networking(15:03) “The founder is the most precious resource in the startup community”(16:50) Shin takes us inside his Mercari (a massive Japanese marketplace site) investment(18:20) How startups became “cool” in Japan, just recently(19:43) Deel - Founders ship faster on Deel. Set up payroll for any country in minutes and get back to building. Visit http://deel.com/twist to learn more.(21:09) You don't have to tell an investor your whole story… just get them interested(25:28) Why Jason likes to train young folks to be VCs, rather than hiring for experience(28:44) The differences between being candid and rude(29:44) Uber AI Solutions - Your trusted partner to get AI to work in the real world. Book a demo with them TODAY at http://uber.com/twist(35:40) Why Globis sees other VC firms as collaborators(39:08) The world's OLDEST company is 1500 years old… and it's from Japan…(39:54) Why a lot of great businesses aren't right for VC investment(43:34) Why picking the right market is so crucial(48:37) When you know the direction of change but can't predict the timing(50:34) How founders are using AI to build better companies faster(54:39) Shin's guide to eating out in Tokyo*Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/Check out the TWIST500: https://twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcp*Follow Lon:X: https://x.com/lons*Follow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelm/*Follow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanis/*Thank you to our partners:(10:48) Circle.so -  the easiest way to build a home for your community, events, and courses — all under your own brand. TWiST listeners get $1,000 off Circle's Professional Plan by going to http://Circle.so/twist(19:43) Deel - Founders ship faster on Deel. Set up payroll for any country in minutes and get back to building. Visit http://deel.com/twist to learn more.(29:44) Uber AI Solutions - Your trusted partner to get AI to work in the real world. Book a demo with them TODAY at http://uber.com/twistCheck out all our partner offers: https://partners.launch.co/

一位生活在首都的委内瑞拉青年，在美军突袭那晚经历了一场怎样的惊心动魄？从小到大，他又如何见证了国家从石油时代的繁荣巅峰，一步步坠入动荡与贫困的深渊 ？ 2026 年 1 月 3 号，美军突袭委内瑞拉首都并抓捕其总统马杜罗的消息震惊全球。而这场突如其来的巨变，也让这个命运多舛的国家再次被推到了命运的十字路口。 这期节目，我们采访了从小生活在首都加拉加斯的委内瑞拉青年 Andrés，他回忆了自己在 1 月 3 日凌晨亲历的恐怖时刻，也通过回忆带我们穿过了他所感受到的，委内瑞拉这二十多年来的繁荣与崩塌、希望与离散。 希望这个来自加拉加斯的声音，能为你理解委内瑞拉，提供一些真实、有温度的线索。 *特别感谢：杰米、星斗、小冯、蔓蔓 本期人物 Andrés Viloria，一位生活在加拉加斯的委内瑞拉青年 赛德，中文配音、「声东击西」后期制作人 可宣，「声东击西」监制 徐涛，声动活泼联合创始人 主要话题 [01:37] 1 月 3 日的凌晨，加拉加斯发生了什么？ [11:03] 童年记忆中，委内瑞拉曾经的繁荣 [15:46] 查韦斯的去世和马杜罗时代的到来 [19:38] 委内瑞拉何以至今：过去十几年发生了什么 [28:40] 委内瑞拉的此刻，和人民期望的未来 延伸阅读 Mene Grande：委内瑞拉第一口真正商业产油的油井是 Zumaque I，位于 Mene Grande地区（wikipedia：Zumaque I (https://en.wikipedia.org/wiki/Zumaque_I)） Misión Vivienda（Gran Misión Vivienda Venezuela）：是委内瑞拉政府玻利瓦尔使命的一项计划，旨在为生活在不稳定条件下的人们提供住房（wiki：Great Mission Housing Venezuela (https://en.wikipedia.org/wiki/Great_Mission_Housing_Venezuela)） Chamba Juvenil：一项针对15至35岁青年群体的全面保护政策。该政策由国家政府制定，旨在通过培训和融入劳动力市场来保障青年的发展。（Minister of the Popular Power for Planning (https://www.mpppst.gob.ve/mpppstweb/index.php/2017/09/26/conozca-el-plan-chamba-juvenil/#)） Repsol 雷普索尔是西班牙的能源与石化公司（Repsol (https://en.wikipedia.org/wiki/Repsol)）。2025 年 3 月，美国告知 Repsol 其授予该公司在委内瑞拉运营的许可证已被撤销。根据之前的许可，雷普索尔同意接收委内瑞拉国家石油公司（PDVSA）的石油作为债务偿还。雷普索尔表示，委内瑞拉欠其 5.86 亿欧元（6.8363 亿美元）。 Chevron 目前还在委内瑞拉正常运营。 国家企业 PDVSA（委内瑞拉国家石油公司 Petróleos de Venezuela）还在运营 (https://abc.az/en/news/193838/venezuela-restores-oil-production-and-exports) 给声东击西投稿 「声东击西」一直在寻找来自不同社会和群体的真实声音。我们曾经采访过为特朗普竞选生产 MAGA 帽子的中国制造商、记录过七位在美国大选中经历起伏的华人个体，也讲述了委内瑞拉青年的故事。 如果你也有一些特别的经历、观察或想法，不论是亲身体验的故事，还是你在某个行业、社区中的所见所闻，都欢迎你向我们投稿。 你的声音可能出现在未来的节目当中，我们非常期待你的分享！ 投稿入口 (https://eg76rdcl6g.feishu.cn/share/base/form/shrcne1CGVaSeJwtBriW6yNT2dg) 你也可以直接通过邮箱直接联系节目组：kexuan@shengfm.cn 加入我们 声动活泼目前开放【商业发展经理、节目监制，以及内容实习生（可远程）、早咖啡实习生、商业实习生和运营实习生】岗位，详情点击招聘入口：加入声动活泼（在招职位速览） (https://eg76rdcl6g.feishu.cn/docx/XO6bd12aGoI4j0xmAMoc4vS7nBh)，点击相应链接即可查看岗位详情及投递指南。 招聘 https://media24.fireside.fm/file/fireside-uploads-2024/images/8/8dd8a56f-9636-415a-8c00-f9ca6778e511/1TCNqViU.jpg 幕后制作 监制：可宣 后期：赛德 实习生：梁梁 运营：George 设计：饭团 商务合作 声动活泼商业化小队，点击链接可直达商务会客厅（商务会客厅链接：https://sourl.cn/QDhnEc ），也可发送邮件至 business@shengfm.cn 联系我们。 关于声动活泼 「用声音碰撞世界」，声动活泼致力于为人们提供源源不断的思考养料。 我们还有这些播客：不止金钱（2024 全新发布） (https://www.xiaoyuzhoufm.com/podcast/65a625966d045a7f5e0b5640)、跳进兔子洞第三季（2024 全新发布） (https://www.xiaoyuzhoufm.com/podcast/666c0ad1c26e396a36c6ee2a)、声东击西 (https://etw.fm/episodes)、声动早咖啡 (https://sheng-espresso.fireside.fm/)、What's Next｜科技早知道 (https://guiguzaozhidao.fireside.fm/episodes)、反潮流俱乐部 (https://fanchaoliuclub.fireside.fm/)、泡腾 VC (https://popvc.fireside.fm/)、商业WHY酱 (https://msbussinesswhy.fireside.fm/) 欢迎在即刻 (https://okjk.co/Qd43ia)、微博等社交媒体上与我们互动，搜索 声动活泼 即可找到我们。 也欢迎你写邮件和我们联系，邮箱地址是：ting@sheng.fm 获取更多和声动活泼有关的讯息，你也可以扫码添加声小音，在节目之外和我们保持联系！ 声东击西 https://media24.fireside.fm/file/fireside-uploads-2024/images/8/8dd8a56f-9636-415a-8c00-f9ca6778e511/wEYE7jJa.jpg Special Guests: Andrés Viloria and 赛德.

Hans Swildens is a partner and Head of Industry Ventures at Goldman Sachs. Industry Ventures is one of the pioneers in the secondary market for venture capital, managing several billion in assets across LP stakes, direct secondaries, and primary fund investments. In October of 2025, Goldman Sachs announced they were acquiring Industry Ventures in a deal worth over $900 million dollars. In this episode of World of DaaS, Hans and Auren discuss:The evolution of secondaries from distressed deals to 70% of VC exits Why Goldman Sachs paid almost $1 billion to acquire Industry Ventures How Industry Ventures uses data from 700+ fund LP positions as a competitive edge The future of venture fund structures and permanent capital vehiclesYou can find Auren Hoffman on X at @auren and Hans Swildens on X at @hansswildens.Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

This week we chat with Haseeb Qureshi!Haseeb is the Managing Partner at Dragonfly, a multibillion-dollar leading crypto VC firm, and is a longtime technology-focused crypto investor.He was previously a General Partner at Metastable Capital (now acquired by Dragonfly). Earlier in his career, Haseeb founded a stablecoin startup, worked as a blockchain engineer at Earn.com (acquired by Coinbase), and served as an anti-fraud engineer at Airbnb. Before entering tech, he was among the top heads-up no-limit Hold'em poker players in the world, becoming a sponsored professional and self-made millionaire by age 19. He later authored a best-selling poker book, donated the bulk of his poker earnings—about half a million dollars—to charity, and pursued an earn-to-give path that led him into software engineering and eventually blockchain.Haseeb has taught a Web3 Entrepreneurship course at UC Berkeley and is widely followed for his technical expertise in crypto. Today, he continues to write, invest, and contribute to the ecosystem while committing a third of his pre-tax income to charitable causes.✨ This episode is presented by Brex.Brex: brex.com/trailblazerspodThis episode is supported by RocketReach, Gusto, OpenPhone & Athena.RocketReach: rocketreach.co/trailblazersGusto: gusto.com/trailblazersQuo: Quo.com/trailblazersAthena: athenago.me/Erica-WengerFollow Us!Haseeb Qureshi: @hosseeb@thetrailblazerspod: Instagram, YouTube, TikTokErica Wenger: @erica_wenger

בפרק השלישי של סדרת "דור המהפכה", דריה ורטהיים ורוני הרניב מארחות את דני כהן, שותף בקרן סטיקר ונצ'רס ומי שנמצא בעולם ה-VC כבר 25 שנה. דני חווה את המהפכות והמשברים הגדולים של התעשייה, מהבועה של שנות ה-2000 ועד השיאים של 2021, והוא מגיע לתת פרספקטיבה עם רגליים על הקרקע על מה באמת השתנה הפעם ומה נשאר בדיוק אותו הדבר. בשיחה דני משתף למה הוא לא מחפש רק טכנולוגיה אלא חדשנות במוצר, איך הוא מזהה יזמים שיודעים להגיע להישגים אדירים עם מעט כסף (כן, אפילו צוות של שני אנשים), ואיפה עולמות ה-B2C פוגשים את מהפכת ה-AI ביום-יום. בין השאלות על בועה אפשרית לתחרות הגוברת בין הקרנות, מעבר למספרים ולתחזיות, יש מבט מפוכח, על העובדה שאנחנו כנראה עוד לא מבינים עד הסוף את עוצמת השינוי שקורה עכשיו. דני משתף במחשבות שלו על עולם שבו שוק העבודה ישתנה לחלוטין, ועל התחושה שאולי בעוד חמש שנים נסתכל אחורה על השיחה הזו ונבין רק אז כמה המהפכה הזו הייתה עמוקה. כתבו לנו מה חשבתם על הפרק בתגובות בספוטיפיי או דרך הלינקדאין של Startup for Startup האזינו לפרקים הקודמים בסדרה: דור המהפכה 1: שני סטארטאפים בסערה המושלמת של עידן ה-AI דור המהפכה 2: איך מודדים הצלחה של סטארטאפ בעידן ה-AISee omnystudio.com/listener for privacy information.

(0:00) Intro(1:45) About the podcast sponsor: The American College of Governance Counsel(2:31) Start of interview(3:04) Jeff's origin story. Began career in investment banking at First Boston before transitioning to a 25-year run as CFO across media companies (King World, Nielsen) and tech (DoubleClick, Oracle).(7:16) Transitioning to Bessemer Venture Partners.(8:40) Focusing on his board career and audit committee member. ValueClick, Priceline (Booking Holdings).(11:06) Growth in Public vs. Private Markets(12:49) The State of European Entrepreneurial Ecosystem(13:41) The Role of BVP CFO Council(15:31) Understanding California and Silicon Valley's Unique Culture(18:44) AI's impact on the CFO role(20:54) Dynamics Between CEOs and CFOs(23:12) CFOs in Startups vs. Public Companies "We've observed that about 5% of the headcount of any co' at any size is in the finance dpt.")(25:25) CFOs as Board Members(27:35) Board decisions on CEO hiring and firing. "The CEO's role is to articulate an effective strategy, to hire a great team, and then to execute that strategy well using that great team." "If over five years the CEO has never changed their mind based on board input, you have the wrong board."(30:36) On effective Board Composition(32:41) Navigating Shareholder Activism, including his experience at Twilio(37:35) The Debate: Stay Private or Go Public. "There are three ownership structures: public companies, PE-owned companies (where PE controls CEO), and founder-controlled private companies" "I think you're going to see quite a few companies stay private forever or for decades."(39:30) Preparing for the Future of Venture Capital (41:13) Optimizing Board Meeting Content. "Effective boards: 2/3 of time on未made decisions. Ineffective boards: show and tell." "Best-run companies: CEO encourages board members to meet with executives outside board meetings."(45:50) Books that have greatly influenced his life:The Snowball: Warren Buffett and the Business of Life by Alice Shroeder (2008)My Early Life by Winston Churchill (1930) How to Talk So Kids Will Listen & Listen So Kids Will Talk by Adele Faber and Elaine Mazlish (1980)(47:07) His mentors (50:50) Quotes that he thinks of often or lives his life by "You want to live your life to have a seamless web of deserved trust" by Charlie Munger(53:15) An unusual habit or an absurd thing that he loves. Reading adventure stories from G.H. Henty(54:01) The living person he most admires: Warren BuffettJeff Epstein is an operating partner of Bessemer Venture Partners where he leads BVP's CFO Council. He is a former CFO of Oracle and currently serves on the boards of Autodesk, AvePoint, Okta, and Twilio (previously at Kaiser Permanente and Booking Holdings). You can follow Evan on social media at:X: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Startup success is often explained through geography, capital, or timing.But the real story is about people, resilience, and long-term commitment.In this episode of Couchonomics with Arjun, Arjun is joined by Allen Taylor, Managing Partner at Endeavor Catalyst, to unpack how world-class companies are being built far beyond Silicon Valley.Allen shares how Endeavor identifies and backs the top 1% of founders across emerging and underserved markets, why venture outcomes are shaped over decades not fund cycles, and how resilience and ambition matter more than location. From Latin America and Eastern Europe to the Middle East and frontier markets like Nigeria and Pakistan, the conversation explores what it really takes to build billion-dollar companies from anywhere.The episode also dives into how venture capital is evolving, why the traditional 10-year fund model no longer reflects reality, how AI is changing both startups and investing, and what creates durable entrepreneurial ecosystems over time.

Simon Schmincke, General Partner bei Creandum, spricht über die radikalen Veränderungen im Venture Capital der letzten Jahre. Er erklärt, warum Wachstum und Wettbewerb auf einem neuen Level angekommen sind, wie sich Gründerprofile und Teamstrukturen verändern und was das für Startups, Investoren und den europäischen Tech-Standort bedeutet. Außerdem gibt er Einblicke in die aktuelle IPO-Landschaft, den Secondary-Markt und die Herausforderungen, die mit immer größeren Fonds und globalem Wettbewerb einhergehen. Was du lernst: - Wie sich die VC- und Startup-Welt in Rekordzeit verändert - Warum Geschwindigkeit, technisches Know-how und globale Perspektive entscheidend sind - Wie du als Gründer heute Product-Market-Fit und Defensibility wirklich aufbaust - Welche Rolle IPOs, Secondaries und Fondsgröße für den Erfolg spielen - Warum jetzt die spannendste Zeit für Tech und Innovation ist ALLES ZU UNICORN BAKERY: https://stan.store/fabiantausch Mehr zu Simon: LinkedIn: https://www.linkedin.com/in/simonschmincke/ CREANDUM: https://www.creandum.com/ Join our Founder Tactics Newsletter: 2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach: https://www.tactics.unicornbakery.de/ Kapitel: (00:00:00) Einstieg & Status Quo im VC (00:03:09) Ständiger Wandel & Lernkurve im VC (00:06:38) Neue Gründerprofile & Teamstrukturen (00:12:50) Go-to-Market & Sales-Strategien (00:16:05) Sourcing, Auswahl & Investment-Entscheidungen (00:19:46) Wettbewerbsfähigkeit & Marktpositionierung (00:21:58) Product-Market-Fit heute (00:29:38) Defensibility & Burggraben (00:32:36) Teamgrößen, Effizienz & neue Organisationsmodelle (00:37:14) Flight to Quality & Fonds-Konzentration (00:47:37) IPOs, Secondaries & Exits (00:55:17) Europa vs. USA & Kapitalmärkte (00:56:44) Portfolio-Highlights & Fund-Returner

On today's episode, we welcome Jacob Zuppke, CEO of Whisker — the company behind Litter-Robot, one of the most iconic and trusted products in modern pet care.Under Jacob's leadership, Whisker has grown into a multi-hundred-million-dollar consumer technology company, surpassing $1 billion in revenue over the past four years—all without raising a single dollar of venture capital. What began as a niche solution for cat owners has evolved into a category-defining brand built on product obsession, deep customer insight, and a relentless focus on design, performance, and autonomy.In this episode, Jacob shares how Whisker transformed convenience into connected care, why data and design are shaping the future of intelligent pet care, and what it takes to build a true consumer love brand outside Silicon Valley. We also dive into scaling DTC alongside retail, leading without VC pressure, and how Whisker's newest generation of products is moving beyond cleaning into personalized, proactive pet health. This conversation is packed with insights for founders, operators, and anyone building enduring consumer brands. Are you interested in sponsoring and advertising on The Kara Goldin Show, which is now in the Top 1% of Entrepreneur podcasts in the world? Let me know by contacting me at karagoldin@gmail.com. You can also find me @‌KaraGoldin on all networks. To learn more about Jacob Zuppke and Whisker:https://www.linkedin.com/in/jacobzuppke/ LinkedInhttps://www.instagram.com/jzuppke/https://www.instagram.com/thelitterrobot/https://www.whisker.com Sponsored By:BetterWild - up to 40% off your order at betterwild.com/KARAGOLDINLinkedIn Jobs - Head to LinkedIn.com/KaraGoldin to post your job for free.Wix -Ready to create your website? Sign up for free at Wix.comStamps.com - Go to Stamps.com and use code kara to get sixty days risk-free! Check out our website to view this episode's show notes: https://karagoldin.com/podcast/789

Dan Stein is a former recruiter at Google, SnapChat, and the VC firm A16Z. His wellness journey was featured in Men's Health and he launched an athletic apparel brand focused on mental health called Pax. Dan has also visited over 30 countries. In this episode we discuss: -The best career advice from a recruiter's perspective -Why money is a renewable resource, advice from his dad that has helped him take more calculated risks -How a cross-country move and a chance encounter with a waitress helped him land a job at Google -Why "being seen" matters more than the perfect resume -Why your manager can make or break your career -The most important life lesson from visiting 31 countries -What he means by 'finding what works for you' around health & fitness and more Get my free Career Pivot Playbook to help navigate your next move: www.omaid.me/newsletter Follow me on LinkedIn: www.linkedin.com/in/omaidhomayun/

This podcast is part of our new shortened podcast and You Tube series called Yellowstone Weekly where we answer questions you guys send to us and we also discuss current events in the park that may affect your trip this summer. In this podcast, Dave from Florida asked us "which Visitors Center its the best one to visit??" And hands down, that is the VC at the Canyon Area. And for a little icing on the cake, we also discuss one of my other favorite stops in the park, the fabulous Map Room in the Mammoth Hotel which was designed by famed park architect Robert Reemer who also designed the Old Faithful Inn that many of you have probably already seen. CLICK HERE TO ORDER THE GUIDEBOOK https://www.exploreyellowstonelikealocal.com

Marco DeMeireles, co founder and managing partner at ANSA, breaks down how a modern VC firm wins by being focused, data driven, and allergic to hype. If you want a clearer view of how investors evaluate open source, mission critical industries, and AI categories, this is a practical, operator minded look behind the curtain. Marco explains ANSA's focus on what they call undercover markets, from open source and open core businesses to defense, intelligence, cybersecurity, healthcare IT, and infrastructure companies that become deeply embedded and rarely lose customers. We also get into how they raised their first fund, why portfolio concentration changes everything, and how they push founders toward efficiency and profitability without killing ambition. Key Takeaways• In open source, two things matter more than most people admit: founder DNA tied to the project, and what you put behind the paywall that enterprises will pay for• Concentration forces rigor, fewer bets means deeper diligence, clearer underwriting, and more hands on support post investment• Great early stage support is not just advice, it is people, capital planning, and operating help that changes outcomes• AI investing gets easier when you start with category selection, avoid fickle demand, then hunt for non obvious wedges in real workflows• Long term winners tend to show compounding growth, improving efficiency, real demand, durable business models, founder strength, and an asymmetric risk reward at the price Timestamped Highlights00:00 Marco's quick intro and what ANSA invests in00:36 Undercover markets, open source, and mission critical industries explained01:54 The two open source filters that change how ANSA underwrites a deal03:31 Why open source can work in defense, plus the Defense Unicorns example05:29 How a new firm raises a first fund, and what the right LP partners look for10:50 The three levers ANSA pulls with founders: people, capital, operations15:22 Marco's six part framework for evaluating investments17:39 How to tell who wins in crowded AI categories, and why niche wedges matter21:41 The first investment they will never forget, and the air gapped cloud problem A line worth stealing“You can't outsource greatness. You can't outsource people selection.” Pro Tips• If you are building open source, be intentional about what is free versus paid, security, compliance, and auditability tend to earn real pricing power• If your business depends on paid acquisition, test a path to organic growth early, it can unlock profitability and give you leverage in fundraising and exits• In crowded AI spaces, pick a wedge where documentation is heavy, complexity is low, and ROI is obvious, then expand once you own that lane Call to ActionIf this episode helped you think more clearly about investing and building, follow the show, subscribe, and share it with one founder or operator who is navigating funding, pricing, or go to market right now

Send us a textThe world today and of Jesus' day aren't so different.  The undermining of important institutions happened then, and happens now. In this episode the VC looks at how Jesus answered that challenge and what that means for us as his people.  

"How do I create the 'wow' moment for my end user? And slowness never creates the wow moment." PolarGrid founder and CEO Rade Kovacevic believes GenAI video and voice will be killer apps once they can function in real-time. Enabling real-time GenAI requires uncorking the inference bottleneck that the hyperscalers have helped build. The BetaKit podcast is presented by Fasken Emerging Tech, supporting trailblazing startups, venture capital funds and acquirers of high-growth tech companies for over 30 years. If you're curious about the health of Canada's tech M&A scene, you've got to check out Exit InSights. It's a first-of-its-kind report from Fasken's Emerging Technology & Venture Capital Group that analyses private M&A activity among VC-backed and high-growth tech companies. You'll learn how buyers and sellers are maximizing value, minimizing risk, and navigating one of the most vibrant tech ecosystems out there. Download your free copy of the report.

Loïc Houssier (CTO, Superhuman) joins VC.fm to unpack the Grammarly acquisition of Superhuman and what it signals about the future of AI-native productivity tools.We talk AI in the workflow vs standalone AI tools (ChatGPT/Gemini), voice-first computing, vibe coding vs production engineering, AI's impact on hiring, and why UX taste and product design may be the real moat in an era where everyone has access to the same LLMs.Keywords: Grammarly acquires Superhuman, Superhuman email, Loïc Houssier, AI productivity, AI-native software, email AI, workflow AI, OpenAI, Anthropic, LLMs, vibe coding, Cursor, UX design moat, product-led growth, startup defensibility, AI hiring.Follow the PodcastInstagram: https://www.instagram.com/venturecapitalfm/Twitter: https://twitter.com/vcpodcastfmLinkedIn: https://www.linkedin.com/company/venturecapitalfm/Spotify: https://open.spotify.com/show/7BQimY8NJ6cr617lqtRr7N?si=ftylo2qHQiCgmT9dfloD_g&nd=1&dlsi=7b868f1b72094351Apple: https://podcasts.apple.com/us/podcast/venture-capital/id1575351789Website: https://www.venturecapital.fm/Follow Jon BradshawLinkedIn: https://www.linkedin.com/in/mrbradshaw/Instagram: https://www.instagram.com/mrjonbradshaw/Twitter: https://twitter.com/mrjonbradshawFollow Peter HarrisLinkedIn: https://www.linkedin.com/in/peterharris1Twitter: https://twitter.com/thevcstudentInstagram: https://instagram.com/shodanpeteYoutube: https://www.youtube.com/@peterharris2812#Superhuman #Grammarly #AI #Productivity #Startups #VentureCapital #Email #LLM #OpenAI #Anthropic #VibeCoding #UXDesign #ProductManagement #Engineering

#751 What if your credit card points could take you farther — literally? In this episode, host Brien Gearin sits down with Jay Reno, founder and CEO of Pointhound, a company revolutionizing how we use credit card points to book flights. Jay shares his entrepreneurial journey, from launching a VC-backed furniture rental startup to building Pointhound after discovering the hidden value in points most people waste. He explains how his search engine helps travelers find the best flight deals using points — sometimes turning 100,000 points into a $6,000 business class ticket. You'll learn how to choose the right cards, optimize your everyday spending, and avoid the biggest mistakes people make when redeeming rewards. If you've got points sitting around, this episode could change how you travel forever! (Original Air Date - 5/27/25) What we discuss with Jay: + Why most people waste credit card points + How Pointhound finds 10x flight value + Best cards for transferable points + Manual MVP before building tech + How Jay earned 20M+ points at Feather + Using points for business class flights + Personalized flight deal emails + How Pointhound makes money + $200B in unused points annually + Plans to scale to 100M+ users Thank you, Jay! Check out Pointhound at ⁠Pointhound.com⁠. Follow Jay on ⁠Instagram⁠ and ⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠. Watch the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠video podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ of this episode! To get access to our FREE Business Training course go to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MillionaireUniversity.com/training⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To get exclusive offers mentioned in this episode and to support the show, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠millionaireuniversity.com/sponsors⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

IWhat is our children's future? What skills should they be developing? How should schools be adapting? What will the fully functioning citizens and workers of the future look like? A look into the landscape of the next 15 years, the future of work with human and AI interactions, the transformation of education, the safety and privacy landscapes, and a parental playbook. Navigation: Intro The Landscape: 2026–2040 The Future of Work: Human + AI The Transformation of Education The Ethics, Safety, and Privacy Landscape The Parental Playbook: Actionable Strategies Conclusion Our co-hosts: Bertrand Schmitt, Entrepreneur in Residence at Red River West, co-founder of App Annie / Data.ai, business angel, advisor to startups and VC funds, @bschmitt Nuno Goncalves Pedro, Investor, Managing Partner, Founder at Chamaeleon, @ngpedro Our show: Tech DECIPHERED brings you the Entrepreneur and Investor views on Big Tech, VC and Start-up news, opinion pieces and research. We decipher their meaning, and add inside knowledge and context. Being nerds, we also discuss the latest gadgets and pop culture news Subscribe To Our Podcast Bertrand SchmittIntroduction Welcome to Episode 72 of Tech Deciphered, about our children’s future. What is our children’s future? What skills should they be developing? How should school be adapting to AI? What would be the functioning citizens and workers of the future look like, especially in the context of the AI revolution? Nuno, what’s your take? Maybe we start with the landscape. Nuno Goncalves PedroThe Landscape: 2026–2040 Let’s first frame it. What do people think is going to happen? Firstly, that there’s going to be a dramatic increase in productivity, and because of that dramatic increase in productivity, there are a lot of numbers that show that there’s going to be… AI will enable some labour productivity growth of 0.1 to 0.6% through 2040, which would be a figure that would be potentially rising even more depending on use of other technologies beyond generative AI, as much as 0.5 to 3.4% points annually, which would be ridiculous in terms of productivity enhancement. To be clear, we haven’t seen it yet. But if there are those dramatic increases in productivity expected by the market, then there will be job displacement. There will be people losing their jobs. There will be people that will need to be reskilled, and there will be a big shift that is similar to what happens when there’s a significant industrial revolution, like the Industrial Revolution of the late 19th century into the 20th century. Other numbers quoted would say that 30% of US jobs could be automated by 2030, which is a silly number, 30%, and that another 60% would see tremendously being altered. A lot of their tasks would be altered for those jobs. There’s also views that this is obviously fundamentally a global phenomenon, that as much as 9% of jobs could be lost to AI by 2030. I think question mark if this is a net number or a gross number, so it might be 9% our loss, but then maybe there’re other jobs that will emerge. It’s very clear that the landscape we have ahead of us is if there are any significant increases in productivity, there will be job displacement. There will be job shifting. There will be the need for reskilling. Therefore, I think on the downside, you would say there’s going to be job losses. We’ll have to reevaluate whether people should still work in general 5 days a week or not. Will we actually work in 10, 20, 30 years? I think that’s the doomsday scenario and what happens on that side of the fence. I think on the positive side, there’s also a discussion around there’ll be new jobs that emerge. There’ll be new jobs that maybe we don’t understand today, new job descriptions that actually don’t even exist yet that will emerge out this brave new world of AI. Bertrand SchmittYeah. I mean, let’s not forget how we get to a growing economy. I mean, there’s a measurement of a growing economy is GDP growth. Typically, you can simplify in two elements. One is the growth of the labour force, two, the rise of the productivity of that labour force, and that’s about it. Either you grow the economy by increasing the number of people, which in most of the Western world is not really happening, or you increase productivity. I think that we should not forget that growth of productivity is a backbone of growth for our economies, and that has been what has enabled the rise in prosperity across countries. I always take that as a win, personally. That growth in productivity has happened over the past decades through all the technological revolutions, from more efficient factories to oil and gas to computers, to network computers, to internet, to mobile and all the improvement in science, usually on the back of technological improvement. Personally, I welcome any rise in improvement we can get in productivity because there is at this stage simply no other choice for a growing world in terms of growing prosperity. In terms of change, we can already have a look at the past. There are so many jobs today you could not imagine they would exist 30 years ago. Take the rise of the influencer, for instance, who could have imagined that 30 years ago. Take the rise of the small mom-and-pop e-commerce owner, who could have imagined that. Of course, all the rise of IT as a profession. I mean, how few of us were there 30 years ago compared to today. I mean, this is what it was 30 years ago. I think there is a lot of change that already happened. I think as a society, we need to welcome that. If we go back even longer, 100 years ago, 150 years ago, let’s not forget, if I take a city like Paris, we used to have tens of thousands of people transporting water manually. Before we have running water in every home, we used to have boats going to the North Pole or to the northern region to bring back ice and basically pushing ice all the way to the Western world because we didn’t have fridges at the time. I think that when we look back in time about all the jobs that got displaced, I would say, Thank you. Thank you because these were not such easy jobs. Change is coming, but change is part of the human equation, at least. Industrial revolution, the past 250 years, it’s thanks to that that we have some improvement in living conditions everywhere. AI is changing stuff, but change is a constant, and we need to adapt and adjust. At least on my side, I’m glad that AI will be able to displace some jobs that were not so interesting to do in the first place in many situations. Maybe not dangerous like in the past because we are talking about replacing white job collars, but at least repetitive jobs are definitely going to be on the chopping block. Nuno Goncalves PedroWhat happens in terms of shift? We were talking about some numbers earlier. The World Economic Forum also has some numbers that predicts that there is a gross job creation rate of 14% from 2025 to 2030 and a displacement rate of 8%, so I guess they’re being optimistic, so a net growth in employment. I think that optimism relates to this thesis that, for example, efficiency, in particular in production and industrial environments, et cetera, might reduce labour there while increasing the demand for labour elsewhere because there is a natural lower cost base. If there’s more automation in production, therefore there’s more disposable income for people to do other things and to focus more on their side activities. Maybe, as I said before, not work 5 days a week, but maybe work four or three or whatever it is. What are the jobs of the future? What are the jobs that we see increasing in the future? Obviously, there’re a lot of jobs that relate to the technology side, that relate obviously to AI, that’s a little bit self-serving, and everything that relates to information technology, computer science, computer technology, computer engineering, et cetera. More broadly in electrical engineering, mechanical engineering, that might actually be more needed. Because there is a broadening of all of these elements of contact with digital, with AI over time also with robots and robotics, that those jobs will increase. There’s a thesis that actually other jobs that are a little bit more related to agriculture, education, et cetera, might not see a dramatic impact, that will still need for, I guess, teachers and the need for people working in farms, et cetera. I think this assumes that probably the AI revolution will come much before the fundamental evolution that will come from robotics afterwards. Then there’s obviously this discussion around declining roles. Anything that’s fundamentally routine, like data entry, clinical roles, paralegals, for example, routine manufacturing, anything that’s very repetitive in nature will be taken away. I have the personal thesis that there are jobs that are actually very blue-collar jobs, like HVAC installation, maintenance, et cetera, plumbing, that will be still done by humans for a very long time because there are actually, they appear to be repetitive, but they’re actually complex, and they require manual labour that cannot be easily, I think, right now done by robots and replacements of humans. Actually, I think there’re blue-collar roles that will be on the increase rather than on decrease that will demand a premium, because obviously, they are apprenticeship roles, certification roles, and that will demand a premium. Maybe we’re at the two ends. There’s an end that is very technologically driven of jobs that will need to necessarily increase, and there’s at the other end, jobs that are very menial but necessarily need to be done by humans, and therefore will also command a premium on the other end. Bertrand SchmittI think what you say make a lot of sense. If you think about AI as a stack, my guess is that for the foreseeable future, on the whole stack, and when I say stack, I mean from basic energy production because we need a lot of energy for AI, maybe to going up to all the computing infrastructure, to AI models, to AI training, to robotics. All this stack, we see an increase in expertise in workers and everything. Even if a lot of this work will benefit from AI improvement, the boom is so large that it will bring a lot of demand for anyone working on any part of the stack. Some of it is definitely blue-collar. When you have to build a data centre or energy power station, this requires a lot of blue-collar work. I would say, personally, I’m absolutely not a believer of the 3 or 4 days a week work week. I don’t believe a single second in that socialist paradise. If you want to call it that way. I think that’s not going to change. I would say today we can already see that breaking. I mean, if you take Europe, most European countries have a big issue with pension. The question is more to increase how long you are going to work because financially speaking, the equation is not there. Personally, I don’t think AI would change any of that. I agree with you in terms of some jobs from electricians to gas piping and stuff. There will still be demand and robots are not going to help soon on this job. There will be a big divergence between and all those that can be automated, done by AI and robots and becoming cheaper and cheaper and stuff that requires a lot of human work, manual work. I don’t know if it will become more expensive, but definitely, proportionally, in comparison, we look so expensive that you will have second thoughts about doing that investment to add this, to add that. I can see that when you have your own home, so many costs, some cost our product. You buy this new product, you add it to your home. It can be a water heater or something, built in a factory, relatively cheap. You see the installation cost, the maintenance cost. It’s many times the cost of the product itself. Nuno Goncalves PedroMaybe it’s a good time to put a caveat into our conversation. I mean, there’s a… Roy Amara was a futurist who came up with the Amara’s Law. We tend to overestimate the effect of a technology in the short run and overestimate the effect in the long run. I prefer my own law, which is, we tend to overestimate the speed at which we get to a technological revolution and underestimate its impact. I think it’s a little bit like that. I think everyone now is like, “Oh, my God, we’re going to be having the AI overlords taking over us, and AGI is going to happen pretty quickly,” and all of that. I mean, AGI will probably happen at some point. We’re not really sure when. I don’t think anyone can tell you. I mean, there’re obviously a lot of ranges going on. Back to your point, for example, on the shift of the work week and how we work. I mean, just to be very clear, we didn’t use to have 5 days a week and 2 days a weekend. If we go back to religions, there was definitely Sabbath back in the day, and there was one day off, the day of the Lord and the day of God. Then we went to 2 days of weekend. I remember going to Korea back in 2005, and I think Korea shifted officially to 5 days a week, working week and 2 days weekend for some of the larger business, et cetera, in 2004. Actually, it took another whatever years for it to be pervasive in society. This is South Korea, so this is a developed market. We might be at some point moving to 4 days a week. Maybe France was ahead of the game. I know Bertrand doesn’t like this, the 35-hour week. Maybe we will have another shift in what defines the working week versus not. What defines what people need to do in terms of efficiency and how they work and all of that. I think it’s probably just going to take longer than we think. I think there’re some countries already doing it. I was reading maybe Finland was already thinking about moving to 4 days a week. There’re a couple of countries already working on it. Certainly, there’re companies already doing it as well. Bertrand SchmittYeah, I don’t know. I’m just looking at the financial equation of most countries. The disaster is so big in Western Europe, in the US. So much debt is out that needs to get paid that I don’t think any country today, unless there is a complete reversal of the finance, will be able to make a big change. You could argue maybe if we are in such a situation, it might be because we went too far in benefits, in vacation, in work days versus weekends. I’m not saying we should roll back, but I feel that at this stage, the proof is in the pudding. The finance of most developed countries are broken, so I don’t see a change coming up. Potentially, the other way around, people leaving to work more, unfortunately. We will see. My point is that AI will have to be so transformational for the productivity for countries, and countries will have to go back to finding their ways in terms of financial discipline to reach a level where we can truly profit from that. I think from my perspective, we have time to think about it in 10, 20 years. Right now, it’s BS at this stage of this discussion. Nuno Goncalves PedroYeah, there’s a dependency, Bertrand, which is there needs to be dramatic increases in productivity that need to happen that create an expansion of economy. Once that expansion is captured by, let’s say, government or let’s say by the state, it needs to be willingly fed back into society, which is not a given. There’re some governments who are going to be like, “No, you need to work for a living.” Tough luck. There’re no handouts, there’s nothing. There’s going to be other governments that will be pressured as well. I mean, even in a more socialist Europe, so to speak. There’re now a lot of pressures from very far-right, even extreme positions on what people need to do for a living and how much should the state actually intervene in terms of minimum salaries, et cetera, and social security. To your point, the economies are not doing well in and of themselves. Anyway, there would need to be tremendous expansion of economy and willingness by the state to give back to its citizens, which is also not a given. Bertrand SchmittAnd good financial discipline as well. Before we reach all these three. Reaping the benefits in a tremendous way, way above trend line, good financial discipline, and then some willingness to send back. I mean, we can talk about a dream. I think that some of this discussion was, in some ways, to have a discussion so early about this. It’s like, let’s start to talk about the benefits of the aeroplane industries in 1915 or 1910, a few years after the Wright brothers flight, and let’s make a decision based on what the world will be in 30 years from now when we reap this benefit. This is just not reasonable. This is not reasonable thinking. I remember seeing companies from OpenAI and others trying to push this narrative. It was just political agenda. It was nothing else. It was, “Let’s try to make look like AI so nice and great in the future, so you don’t complain on the short term about what’s happening.” I don’t think this is a good discussion to have for now. Let’s be realistic. Nuno Goncalves PedroJust for the sake of sharing it with our listeners, apparently there’re a couple of countries that have moved towards something a bit lower than 5 days a week. Belgium, I think, has legislated the ability for you to compress your work week into 4 days, where you could do 10 hours for 4 days, so 40 hours. UAE has some policy for government workers, 4.5 days. Iceland has some stuff around 35 to 36 hours, which is France has had that 35 hour thing. Lithuania for parents. Then just trials, it’s all over the shop. United Kingdom, my own Portugal, of course, Germany, Brazil, and South Africa, and a bunch of other countries, so interesting. There’s stuff going on. Bertrand SchmittFor sure. I mean, France managed to bankrupt itself playing the 75 hours work week since what, 2000 or something. I mean, yeah, it’s a choice of financial suicide, I would say. Nuno Goncalves PedroWonderful. The Future of Work: Human + AI Maybe moving a little bit towards the future of work and the coexistence of work of human and AI, I think the thesis that exists a little bit in the market is that the more positive thesis that leads to net employment growth and net employment creation, as we were saying, there’s shifting of professions, they’re rescaling, and there’s the new professions that will emerge, is the notion that human will need to continue working alongside with machine. I’m talking about robots, I’m also talking about software. Basically software can’t just always run on its own, and therefore, software serves as a layer of augmentation, that humans become augmented by AI, and therefore, they can be a lot more productive, and we can be a lot more productive. All of that would actually lead to a world where the efficiencies and the economic creation are incredible. We’ll have an unparalleled industrial evolution in our hands through AI. That’s one way of looking at it. We certainly at Chameleon, that’s how we think through AI and the AI layers that we’re creating with Mantis, which is our in-house platform at Chameleon, is that it’s augmenting us. Obviously, the human is still running the show at the end, making the toughest decisions, the more significant impact with entrepreneurs that we back, et cetera. AI augments us, but we run the show. Bertrand SchmittI totally agree with that perspective that first AI will bring a new approach, a human plus AI. Here in that situation, you really have two situations. Are you a knowledgeable user? Do you know your field well? Are you an expert? Are you an IT expert? Are you a medical doctor? Do you find your best way to optimise your work with AI? Are you knowledgeable enough to understand and challenge AI when you see weird output? You have to be knowledgeable in your field, but also knowledgeable in how to handle AI, because even experts might say, “Whatever AI says.” My guess is that will be the users that will benefit most from AI. Novice, I think, are in a bit tougher situation because if you use AI without truly understanding it, it’s like laying foundations on sand. Your stuff might crumble down the way, and you will have no clue what’s happening. Hopefully, you don’t put anyone in physical danger, but that’s more worrisome to me. I think some people will talk about the rise of vibe coding, for instance. I’ve seen AI so useful to improve coding in so many ways, but personally, I don’t think vibe coding is helpful. I mean, beyond doing a quick prototype or some stuff, but to put some serious foundation, I think it’s near useless if you have a pure vibe coding approach, obviously to each their own. I think the other piece of the puzzle, it’s not just to look at human plus AI. I think definitely there will be the other side as well, which is pure AI. Pure AI replacement. I think we start to see that with autonomous cars. We are close to be there. Here we’ll be in situation of maybe there is some remote control by some humans, maybe there is local control. We are talking about a huge scale replacement of some human activities. I think in some situation, let’s talk about work farms, for instance. That’s quite a special term, but basically is to describe work that is very repetitive in nature, requires a lot of humans. Today, if you do a loan approval, if you do an insurance claim analysis, you have hundreds, thousands, millions of people who are doing this job in Europe, in the US, or remotely outsourced to other countries like India. I think some of these jobs are fully at risk to be replaced. Would it be 100% replacement? Probably not. But a 9:1, 10:1 replacement? I think it’s definitely possible because these jobs have been designed, by the way, to be repetitive, to follow some very clear set of rules, to improve the rules, to remove any doubt if you are not sure. I think some of these jobs will be transformed significantly. I think we see two sides. People will become more efficient controlling an AI, being able to do the job of two people at once. On the other side, we see people who have much less control about their life, basically, and whose job will simply disappear. Nuno Goncalves PedroTwo points I would like to make. The first point is we’re talking about a state of AI that we got here, and we mentioned this in previous episodes of Tech Deciphered, through brute force, dramatically increased data availability, a lot of compute, lower network latencies, and all of that that has led us to where we are today. But it’s brute force. The key thing here is brute force. Therefore, when AI acts really well, it acts well through brute force, through seeing a bunch of things that have happened before. For example, in the case of coding, it might still outperform many humans in coding in many different scenarios, but it might miss hedge cases. It might actually not be as perfect and as great as one of these developers that has been doing it for decades who has this intuition and is a 10X developer. In some ways, I think what got us here is not maybe what’s going to get us to the next level of productivity as well, which is the unsupervised learning piece, the actually no learning piece, where you go into the world and figure stuff out. That world is emerging now, but it’s still not there in terms of AI algorithms and what’s happening. Again, a lot of what we’re seeing today is the outcome of the brute force movement that we’ve had over the last decade, decade and a half. The second point I’d like to make is to your point, Bertrand, you were going really well through, okay, if you’re a super experienced subject-matter expert, the way you can use AI is like, wow! Right? I mean, you are much more efficient, right? I was asked to do a presentation recently. When I do things in public, I don’t like to do it. If it’s a keynote, because I like to use my package stuff, there’s like six, seven presentations that I have prepackaged, and I can adapt around that. But if it’s a totally new thing, I don’t like to do it as a keynote because it requires a lot of preparation. Therefore, I’m like, I prefer to do a fire set chat or a panel or whatever. I got asked to do something, a little bit what is taking us to this topic today around what’s happening to our children and all of that is like, “God! I need to develop this from scratch.” The honest truth is if you have domain expertise around many areas, you can do it very quickly with the aid of different tools in AI. Anything from Gemini, even with Nana Banana, to ChatGPT and other tools that are out there for you and framing, how would you do that? But the problem then exists with people that are just at the beginning of their careers, people that have very little expertise and experience, and people that are maybe coming out of college where their knowledge is mostly theoretical. What happens to those people? Even in computer engineering, even in computer science, even in software development, how do those people get to the next level? I think that’s one of the interesting conversations to be had. What happens to the recent graduate or the recent undergrad? How do those people get the expertise they need to go to the next level? Can they just be replaced by AI agents today? What’s their role in terms of the workforce, and how do they fit into that workforce? Bertrand SchmittNo, I mean, that’s definitely the biggest question. I think that a lot of positions, if you are really knowledgeable, good at your job, if you are that 10X developer, I don’t think your job is at risk. Overall, you always have some exceptions, some companies going through tough times, but I don’t think it’s an issue. On the other end, that’s for sure, the recent new graduates will face some more trouble to learn on their own, start their career, and go to that 10X productivity level. But at the same time, let’s also not kid ourselves. If we take software development, this is a profession that increase in number of graduates tremendously over the past 30 years. I don’t think everyone basically has the talent to really make it. Now that you have AI, for sure, the bar to justify why you should be there, why you should join this company is getting higher and higher. Being just okay won’t be enough to get you a career in IT. You will need to show that you are great or potential to be great. That might make things tough for some jobs. At the same time, I certainly believe there will be new opportunities that were not there before. People will have to definitely adjust to that new reality, learn and understand what’s going on, what are the options, and also try to be very early on, very confident at using AI as much as they can because for sure, companies are going to only hire workers that have shown their capacity to work well with AI. Nuno Goncalves PedroMy belief is that it generates new opportunities for recent undergrads, et cetera, of building their own microbusinesses or nano businesses. To your point, maybe getting jobs because they’ll be forced to move faster within their jobs and do less menial and repetitive activities and be more focused on actual dramatic intellectual activities immediately from the get go, which is not a bad thing. Their acceleration into knowledge will be even faster. I don’t know. It feels to me maybe there’s a positivity to it. Obviously, if you’ve stayed in a big school, et cetera, that there will be some positivity coming out of that. The Transformation of Education Maybe this is a good segue to education. How does education change to adapt to a new world where AI is a given? It’s not like I can check if you’re faking it on your homework or if you’re doing a remote examination or whatever, if you’re using or not tools, it’s like you’re going to use these tools. What happens in that case, and how does education need to shift in this brave new world of AI augmentation and AI enhancements to students? Bertrand SchmittYes, I agree with you. There will be new opportunities. I think people need to be adaptable. What used to be an absolute perfect career choice might not be anymore. You need to learn what changes are happening in the industry, and you need to adjust to that, especially if you’re a new graduate. Nuno Goncalves PedroMaybe we’ll talk a little bit about education, Bertrand, and how education would fundamentally shift. I think one of the things that’s been really discussed is what are the core skills that need to be developed? What are the core skills that will be important in the future? I think critical thinking is probably most important than ever. The ability to actually assimilate information and discern which information is correct or incorrect and which information can lead you to a conclusion or not, for example, I think is more important than ever. The ability to assimilate a bunch of pieces of information, make a decision or have an insight or foresight out of that information is very, very critical. The ability to be analytical around how you look at information and to really distinguish what’s fact from what’s opinion, I think is probably quite important. Maybe moving away more and more from memorisation from just cramming information into your brain like we used to do it in college, you have to know every single algorithm for whatever. It’s like, “Who gives a shit? I can just go and search it.” There’s these shifts that are not simple because I think education, in particular in the last century, has maybe been too focused on knowing more and more knowledge, on learning this knowledge. Now it’s more about learning how to process the knowledge rather than learning how to apprehend it. Because the apprehension doesn’t matter as much because you can have this information at any point in time. The information is available to you at the touch of a finger or voice or whatever. But the ability to then use the information to do something with it is not. That’s maybe where you start distinguishing the different level degrees of education and how things are taught. Bertrand SchmittHonestly, what you just say or describe could apply of the changes we went through the past 30 years. Just using internet search has for sure tremendously changed how you can do any knowledge worker job. Suddenly you have the internet at your fingertips. You can search about any topics. You have direct access to a Wikipedia or something equivalent in any field. I think some of this, we already went through it, and I hope we learned the consequence of these changes. I would say what is new is the way AI itself is working, because when you use AI, you realise that it can utter to you complete bullshit in a very self-assured way of explaining something. It’s a bit more scary than it used to be, because in the past, that algorithm trying to present you the most relevant stuff based on some algorithm was not trying to present you the truth. It’s a list of links. Maybe it was more the number one link versus number 100. But ultimately, it’s for you to make your own opinion. Now you have some chatbot that’s going to tell you that for sure this is the way you should do it. Then you check more, and you realise, no, it’s totally wrong. It’s definitely a slight change in how you have to apprehend this brave new world. Also, this AI tool, the big change, especially with generative AI, is the ability for them to give you the impression they can do the job at hand by themselves when usually they cannot. Nuno Goncalves PedroIndeed. There’s definitely a lot of things happening right now that need to fundamentally shift. Honestly, I think in the education system the problem is the education system is barely adapted to the digital world. Even today, if you studied at a top school like Stanford, et cetera, there’s stuff you can do online, there’s more and more tools online. But the teaching process has been very centred on syllabus, the teachers, later on the professors, and everything that’s around it. In class presence, there’s been minor adaptations. People sometimes allow to use their laptops in the classroom, et cetera, or their mobile phones. But it’s been done the other way around. It’s like the tools came later, and they got fed into the process. Now I think there needs to be readjustments. If we did this ground up from a digital first or a mobile first perspective and an AI first perspective, how would we do it? That changes how teachers and professors should interact with the classrooms, with the role of the classroom, the role of the class itself, the role of homework. A lot of people have been debating that. What do you want out of homework? It’s just that people cram information and whatever, or do you want people to show critical thinking in a specific different manner, or some people even go one step further. It’s like, there should be no homework. People should just show up in class and homework should move to the class in some ways. Then what happens outside of the class? What are people doing at home? Are they learning tools? Are they learning something else? Are they learning to be productive in responding to teachers? But obviously, AI augmented in doing so. I mean, still very unclear what this looks like. We’re still halfway through the revolution, as we said earlier. The revolution is still in motion. It’s not realised yet. Bertrand SchmittI would quite separate higher education, university and beyond, versus lower education, teenager, kids. Because I think the core up to the point you are a teenager or so, I think the school system should still be there to guide you, discovering and learning and being with your peers. I think what is new is that, again, at some point, AI could potentially do your job, do your homework. We faced similar situation in the past with the rise of Wikipedia, online encyclopedias and the stuff. But this is quite dramatically different. Then someone could write your essays, could answer your maths work. I can see some changes where you talk about homework, it’s going to be classwork instead. No work at home because no one can trust that you did it yourself anymore going forward, but you will have to do it in the classroom, maybe spend more time at school so that we can verify that you really did your job. I think there is real value to make sure that you can still think by yourself. The same way with the rise of calculators 40 years ago, I think it was the right thing to do to say, “You know what? You still need to learn the basics of doing calculations by hand.” Yes, I remember myself a kid thinking, “What the hell? I have a calculator. It’s working very well.” But it was still very useful because you can think in your head, you can solve complex problems in your head, you can check some output that it’s right or wrong if it’s coming from a calculator. There was a real value to still learn the basics. At the same point, it was also right to say, “You know what? Once you know the basics, yes, for sure, the calculator will take over because we’re at the point.” I think that was the right balance that was put in place with the rise of calculators. We need something similar with AI. You need to be able to write by yourself, to do stuff by yourself. At some point, you have to say, “Yeah, you know what? That long essays that we asked you to do for the sake of doing long essays? What’s the point?” At some point, yeah, that would be a true question. For higher education, I think personally, it’s totally ripe for full disruption. You talk about the traditional system trying to adapt. I think we start to be at the stage where “It should be the other way around.” It should be we should be restarted from the ground up because we simply have different tools, different ways. I think at this stage, many companies if you take, [inaudible 00:33:01] for instance, started to recruit people after high school. They say, “You know what? Don’t waste your time in universities. Don’t spend crazy shitload of money to pay for an education that’s more or less worthless.” Because it used to be a way to filter people. You go to good school, you have a stamp that say, “This guy is good enough, knows how to think.” But is it so true anymore? I mean, now that universities have increased the enrolment so many times over, and your university degree doesn’t prove much in terms of your intelligence or your capacity to work hard, quite frankly. If the universities are losing the value of their stamp and keep costing more and more and more, I think it’s a fair question to say, “Okay, maybe this is not needed anymore.” Maybe now companies can directly find the best talents out there, train them themselves, make sure that ultimately it’s a win-win situation. If kids don’t have to have big loans anymore, companies don’t have to pay them as much, and everyone is winning. I think we have reached a point of no return in terms of value of university degrees, quite frankly. Of course, there are some exceptions. Some universities have incredible programs, incredible degrees. But as a whole, I think we are reaching a point of no return. Too expensive, not enough value in the degree, not a filter anymore. Ultimately, I think there is a case to be made for companies to go back directly to the source and to high school. Nuno Goncalves PedroI’m still not ready to eliminate and just say higher education doesn’t have a role. I agree with the notion that it’s continuous education role that needs to be filled in a very different way. Going back to K-12, I think the learning of things is pretty vital that you learn, for example, how to write, that you learn cursive and all these things is important. I think the role of the teacher, and maybe actually even later on of the professors in higher education, is to teach people the critical information they need to know for the area they’re in. Basic math, advanced math, the big thinkers in philosophy, whatever is that you’re studying, and then actually teach the students how to use the tools that they need, in particular, K-12, so that they more rapidly apprehend knowledge, that they more rapidly can do exercises, that they more rapidly do things. I think we’ve had a static view on what you need to learn for a while. That’s, for example, in the US, where you have AP classes, like advanced placement classes, where you could be doing math and you could be doing AP math. You’re like, dude. In some ways, I think the role of the teacher and the interaction with the students needs to go beyond just the apprehension of knowledge. It also has to have apprehension of knowledge, but it needs to go to the apprehension of tools. Then the application of, as we discussed before, critical thinking, analytical thinking, creative thinking. We haven’t talked about creativity for all, but obviously the creativity that you need to have around certain problems and the induction of that into the process is critical. It’s particular in young kids and how they’re developing their learning skills and then actually accelerate learning. In that way, what I’m saying, I’m not sure I’m willing to say higher education is dead. I do think this mass production of higher education that we have, in particular in the US. That’s incredibly costly. A lot of people in Europe probably don’t see how costly higher education is because we’re educated in Europe, they paid some fee. A lot of the higher education in Europe is still, to a certain extent, subsidised or done by the state. There is high degree of subsidisation in it, so it’s not really as expensive as you’d see in the US. But someone spending 200-300K to go to a top school in the US to study for four years for an undergrad, that doesn’t make sense. For tuition alone, we’re talking about tuition alone. How does that work? Why is it so expensive? Even if I’m a Stanford or a Harvard or a University of Pennsylvania or whatever, whatever, Ivy League school, if I’m any of those, to command that premium, I don’t think makes much sense. To your point, maybe it is about thinking through higher education in a different way. Technical schools also make sense. Your ability to learn and learn and continue to education also makes sense. You can be certified. There are certifications all around that also makes sense. I do think there’s still a case for higher education, but it needs to be done in a different mould, and obviously the cost needs to be reassessed. Because it doesn’t make sense for you to be in debt that dramatically as you are today in the US. Bertrand SchmittI mean, for me, that’s where I’m starting when I’m saying it’s broken. You cannot justify this amount of money except in a very rare and stratified job opportunities. That means for a lot of people, the value of this equation will be negative. It’s like some new, indented class of people who owe a lot of money and have no way to get rid of this loan. Sorry. There are some ways, like join the government Task Force, work for the government, that at some point you will be forgiven your loans. Some people are going to just go after government jobs just for that reason, which is quite sad, frankly. I think we need a different approach. Education can be done, has to be done cheaper, should be done differently. Maybe it’s just regular on the job training, maybe it is on the side, long by night type of approach. I think there are different ways to think about. Also, it can be very practical. I don’t know you, but there are a lot of classes that are not really practical or not very tailored to the path you have chosen. Don’t get me wrong, there is always value to see all the stuff, to get a sense of the world around you. But this has a cost. If it was for free, different story. But nothing is free. I mean, your parents might think it’s free, but at the end of the day, it’s their taxes paying for all of this. The reality is that it’s not free. It’s costing a lot of money at the end of the day. I think we absolutely need to do a better job here. I think internet and now AI makes this a possibility. I don’t know you, but personally, I’ve learned so much through online classes, YouTube videos, and the like, that it never cease to amaze me how much you can learn, thanks to the internet, and keep up to date in so many ways on some topics. Quite frankly, there are some topics that there is not a single university that can teach you what’s going on because we’re talking about stuff that is so precise, so focused that no one is building a degree around that. There is no way. Nuno Goncalves PedroI think that makes sense. Maybe bring it back to core skills. We’ve talked about a couple of core skills, but maybe just to structure it a little bit for you, our listener. I think there’s a big belief that critical thinking will be more important than ever. We already talked a little bit about that. I think there’s a belief that analytical thinking, the ability to, again, distinguish fact from opinion, ability to distinguish elements from different data sources and make sure that you see what those elements actually are in a relatively analytical manner. Actually the ability to extract data in some ways. Active learning, proactive learning and learning strategies. I mean, the ability to proactively learn, proactively search, be curious and search for knowledge. Complex problem-solving, we also talked a little bit about it. That goes hand in hand normally with critical thinking and analysis. Creativity, we also talked about. I think originality, initiative, I think will be very important for a long time. I’m not saying AI at some point won’t be able to emulate genuine creativity. I wouldn’t go as far as saying that, but for the time being, it has tremendous difficulty doing so. Bertrand SchmittBut you can use AI in creative endeavours. Nuno Goncalves PedroOf course, no doubt. Bertrand SchmittYou can do stuff you will be unable to do, create music, create videos, create stuff that will be very difficult. I see that as an evolution of tools. It’s like now cameras are so cheap to create world-class quality videos, for instance. That if you’re a student, you want to learn cinema, you can do it truly on the cheap. But now that’s the next level. You don’t even need actors, you don’t even need the real camera. You can start to make movies. It’s amazing as a learning tool, as a creative tool. It’s for sure a new art form in a way that we have seen expanding on YouTube and other places, and the same for creating new images, new music. I think that AI can be actually a tool for expression and for creativity, even in its current form. Nuno Goncalves PedroAbsolutely. A couple of other skills that people would say maybe are soft skills, but I think are incredibly powerful and very distinctive from machines. Empathy, the ability to figure out how the other person’s feeling and why they’re feeling like that. Adaptability, openness, the flexibility, the ability to drop something and go a different route, to maybe be intellectually honest and recognise this is the wrong way and the wrong angle. Last but not the least, I think on the positive side, tech literacy. I mean, a lot of people are, oh, we don’t need to be tech literate. Actually, I think this is a moment in time where you need to be more tech literate than ever. It’s almost a given. It’s almost like table stakes, that you are at some tech literacy. What matters less? I think memorisation and just the cramming of information and using your brain as a library just for the sake of it, I think probably will matter less and less. If you are a subject or a class that’s just solely focused on cramming your information, I feel that’s probably the wrong way to go. I saw some analysis that the management of people is less and less important. I actually disagree with that. I think in the interim, because of what we were discussing earlier, that subject-matter experts at the top end can do a lot of stuff by themselves and therefore maybe need to less… They have less people working for them because they become a little bit more like superpowered individual contributors. But I feel that’s a blip rather than what’s going to happen over time. I think collaboration is going to be a key element of what needs to be done in the future. Still, I don’t see that changing, and therefore, management needs to be embedded in it. What other skills should disappear or what other skills are less important to be developed, I guess? Bertrand SchmittWorld learning, I’ve never, ever been a fan. I think that one for sure. But at the same time, I want to make sure that we still need to learn about history or geography. What we don’t want to learn is that stupid word learning. I still remember as a teenager having to learn the list of all the 100 French departments. I mean, who cared? I didn’t care about knowing the biggest cities of each French department. It was useless to me. But at the same time, geography in general, history in general, there is a lot to learn from the past from the current world. I think we need to find that right balance. The details, the long list might not be that necessary. At the same time, the long arc of history, our world where it is today, I think there is a lot of value. I think you talk about analysing data. I think this one is critical because the world is generating more and more data. We need to benefit from it. There is no way we can benefit from it if we don’t understand how data is produced, what data means. If we don’t understand the base of statistical analysis. I think some of this is definitely critical. But for stuff, we have to do less. It’s beyond world learning. I don’t know, honestly. I don’t think the core should change so much. But the tools we use to learn the core, yes, probably should definitely improve. Nuno Goncalves PedroOne final debate, maybe just to close, I think this chapter on education and skill building and all of that. There’s been a lot of discussion around specialisation versus generalisation, specialists versus generalists. I think for a very long time, the world has gone into a route that basically frames specialisation as a great thing. I think both of us have lived in Silicon Valley. I still do, but we both lived in Silicon Valley for a significant period of time. The centre of the universe in terms of specialisation, you get more and more specialised. I think we’re going into a world that becomes a little bit different. It becomes a little bit like what Amazon calls athletes, right? The T-Pi-shaped people get the most value, where you’re brought on top, you’re a very strong generalist on top, and you have a lot of great soft skills around management and empathy and all that stuff. Then you might have one or two subject matter expertise areas. Could be like business development and sales or corporate development and business development or product management and something else. I think those are the winners of the future. The young winners of the future are going to be more and more T-pi-shaped, if I had to make a guess. Specialisation matters, but maybe not as much as it matters today. It matters from the perspective that you still have to have spikes in certain areas of focus. But I’m not sure that you get more and more specialised in the area you’re in. I’m not sure that’s necessarily how humans create most value in their arena of deployment and development. Professionally, and therefore, I’m not sure education should be more and more specialised just for the sake of it. What do you think? Bertrand SchmittI think that that’s a great point. I would say I could see an argument for both. I think there is always some value in being truly an expert on a topic so that you can keep digging around, keep developing the field. You cannot develop a field without people focused on developing a field. I think that one is there to stay. At the same time, I can see how in many situations, combining knowledge of multiple fields can bring tremendous value. I think it’s very clear as well. I think it’s a balance. We still need some experts. At the same time, there is value to be quite horizontal in terms of knowledge. I think what is still very valuable is the ability to drill through whenever you need. I think that we say it’s actually much easier than before. That for me is a big difference. I can see how now you can drill through on topics that would have been very complex to go into. You will have to read a lot of books, watch a lot of videos, potentially do a new education before you grasp much about a topic. Well, now, thanks to AI, you can drill very quickly on topic of interest to you. I think that can be very valuable. Again, if you just do that blindly, that’s calling for trouble. But if you have some knowledge in the area, if you know how to deal with AI, at least today’s AI and its constraints, I think there is real value you can deliver thanks to an ability to drill through when you don’t. For me, personally, one thing I’ve seen is some people who are generalists have lost this ability. They have lost this ability to drill through on a topic, become expert on some topic very quickly. I think you need that. If you’re a VC, you need to analyse opportunity, you need to discover a new space very quickly. We say, I think some stuff can move much quicker than before. I’m always careful now when I see some pure generalists, because one thing I notice is that they don’t know how to do much anything any more. That’s a risk. We have example of very, very, very successful people. Take an Elon Musk, take a Steve Jobs. They have this ability to drill through to the very end of any topic, and that’s a real skill. Sometimes I see people, you should trust the people below. They know better on this and that, and you should not question experts and stuff. Hey, guys, how is it that they managed to build such successful companies? Is their ability to drill through and challenge hardcore experts. Yes, they will bring top people in the field, but they have an ability to learn quickly a new space and to drill through on some very technical topics and challenge people the right way. Challenge, don’t smart me. Not the, I don’t care, just do it in 10 days. No, going smartly, showing people those options, learning enough in the field to be dangerous. I think that’s a very, very important skill to have. Nuno Goncalves PedroMaybe switching to the dark side and talking a little bit about the bad stuff. I think a lot of people have these questions. There’s been a lot of debate around ChatGPT. I think there’s still a couple of court cases going on, a suicide case that I recently a bit privy to of a young man that killed himself, and OpenAI and ChatGPT as a tool currently really under the magnifying glass for, are people getting confused about AI and AI looks so similar to us, et cetera. The Ethics, Safety, and Privacy Landscape Maybe let’s talk about the ethics and safety and privacy landscape a little bit and what’s happening. Sadly, AI will also create the advent of a world that has still a lot of biases at scale. I mean, let’s not forget the AI is using data and data has biases. The models that are being trained on this data will have also biases that we’re seeing with AI, the ability to do things that are fake, deep fakes in video and pictures, et cetera. How do we, as a society, start dealing with that? How do we, as a society, start dealing with all the attacks that are going on? On the privacy side, the ability for these models and for these tools that we have today to actually have memory of the conversations we’ve had with them already and have context on what we said before and be able to act on that on us, and how is that information being farmed and that data being farmed? How is it being used? For what purposes is it being used? As I said, the dark side of our conversation today. I think we’ve been pretty positive until now. But in this world, I think things are going to get worse before they get better. Obviously, there’s a lot of money being thrown at rapid evolution of these tools. I don’t see moratoriums coming anytime soon or bans on tools coming anytime soon. The world will need to adapt very, very quickly. As we’ve talked in previous episodes, regulation takes a long time to adapt, except Europe, which obviously regulates maybe way too fast on technology and maybe not really on use cases and user flows. But how do we deal with this world that is clearly becoming more complex? Bertrand SchmittI mean, on the European topic, I believe Europe should focus on building versus trying to sensor and to control and to regulate. But going back to your point, I think there are some, I mean, very tough use case when you see about voice cloning, for instance. Grandparents believing that their kids are calling them, have been kidnapped when there is nothing to it, and they’re being extorted. AI generating deepfakes that enable sextortion, that stuff. I mean, it’s horrible stuff, obviously. I’m not for regulation here, to be frank. I think that we should for sure prosecute to the full extent of the law. The law has already a lot of tools to deal with this type of situation. But I can see some value to try to prevent that in some tools. If you are great at building tools to generate a fake voice, maybe you should make sure that you are not helping scammers. If you can generate easily images, you might want to make sure that you cannot easily generate tools that can be used for creating deep fakes and sex extortion. I think there are things that should be done by some providers to limit such terrible use cases. At the same time, the genie is out. There is also that part around, okay, the world will need to adapt. But yeah, you cannot trust everything that is done. What could have looked like horrible might not be true. You need to think twice about some of this, what you see, what you hear. We need to adjust how we live, how we work, but also how we prevent that. New tools, I believe, will appear. We will learn maybe to be less trustful on some stuff, but that is what it is. Nuno Goncalves PedroMaybe to follow up on that, I fully agree with everything you just said. We need to have these tools that will create boundary conditions around it as well. I think tech will need to fight tech in some ways, or we’ll need to find flaws in tech, but I think a lot of money needs to be put in it as well. I think my shout-out here, if people are listening to us, are entrepreneurs, et cetera, I think that’s an area that needs more and more investment, an area that needs more and more tooling platforms that are helpful to this. It’s interesting because that’s a little bit like how OpenAI was born. OpenAI was born to be a positive AI platform into the future. Then all of a sudden we’re like, “Can we have tools to control ChatGPT and all these things that are out there now?” How things have changed, I guess. But we definitely need to have, I think, a much more significant investment into these toolings and platforms than we do have today. Otherwise, I don’t see things evolving much better. There’s going to be more and more of this. There’s going to be more and more deep fakes, more and more, lack of contextualisation. There’s countries now that allow you to get married with not a human. It’s like you can get married to an algorithm or a robot or whatever. It’s like, what the hell? What’s happening now? It’s crazy. Hopefully, we’ll have more and more boundary conditions. Bertrand SchmittYeah, I think it will be a boom for cybersecurity. No question here. Tools to make sure that is there a better trust system or detecting the fake. It’s not going to be easy, but it has been the game in cybersecurity for a long time. You have some new Internet tools, some new Internet products. You need to find a difference against it and the constant war between the attackers and the defender. Nuno Goncalves PedroThe Parental Playbook: Actionable Strategies Maybe last but not the least in today’s episode, the parent playbook I’m a parent, what should I do I’ll actually let you start first. Bertrand, I’m parent-alike, but I am, sadly, not a parent, so I’ll let you start first, and then I’ll share some of my perspectives as well as a parent-like figure. Bertrand SchmittYeah, as a parent to an 8-year, I would say so far, no real difference than before. She will do some homework on an iPad. But beyond that, I cannot say I’ve seen at this stage so much difference. I think it will come up later when you have different type of homeworks when the kids start to be able to use computers on their own. What I’ve seen, however, is some interesting use cases. When my daughter is not sure about the spelling, she simply asks, Siri. “Hey, Siri, how do you spell this or this or that?” I didn’t teach her that. All of this came on her own. She’s using Siri for a few stuff for work, and I’m quite surprised in a very smart, useful way. It’s like, that’s great. She doesn’t need to ask me. She can ask by herself. She’s more autonomous. Why not? It’s a very efficient way for her to work and learn about the world. I probably feel sad when she asks Siri if she’s her friend. That does not feel right to me. But I would say so far, so good. I’ve seen only AI as a useful tool and with absolutely very limited risk. At the same time, for sure, we don’t let our kid close to any social media or the like. I think some of this stuff is for sure dangerous. I think as a parent, you have to be very careful before authorising any social media. I guess at some point you have no choice, but I think you have to be very careful, very gradual, and putting a lot of controls and safety mechanism I mean, you talk about kids committing suicide. It’s horrible. As a parent, I don’t think you can have a bigger worry than that. Suddenly your kids going crazy because someone bullied them online, because someone tried to extort them online. This person online could be someone in the same school or some scammer on the other side of the world. This is very scary. I think we need to have a lot of control on our kids’ digital life as well as being there for them on a lot of topics and keep drilling into them how a lot of this stuff online is not true, is fake, is not important, and being careful, yes, to raise them, to be critical of stuff, and to share as much as possible with our parents. I think We have to be very careful. But I would say some of the most dangerous stuff so far, I don’t think it’s really coming from AI. It’s a lot more social media in general, I would say, but definitely AI is adding another layer of risk. Nuno Goncalves PedroFrom my perspective, having helped raise three kids, having been a parent-like role today, what I would say is I would highlight against the skills that I was talking about before, and I would work on developing those skills. Skills that relate to curiosity, to analytical behaviours at the same time as being creative, allowing for both, allowing for the left brain, right brain, allowing for the discipline and structure that comes with analytical thinking to go hand in hand with doing things in a very, very different way and experimenting and failing and doing things and repeating them again. All the skills that I mentioned before, focusing on those skills. I was very fortunate to have a parental unit. My father and my mother were together all their lives: my father, sadly, passing away 5 years ago that were very, very different, my mother, more of a hacker in mindset. Someone was very curious, medical doctor, allowing me to experiment and to be curious about things around me and not simplifying interactions with me, saying it as it was with a language that was used for that particular purpose, allowing me to interact with her friends, who were obviously adults. And then on the other side, I have my father, someone who was more disciplined, someone who was more ethical, I think that becomes more important. The ability to be ethical, the ability to have moral standing. I’m Catholic. There is a religious and more overlay to how I do things. Having the ability to portray that and pass that to the next generation and sharing with them what’s acceptable and what’s not acceptable, I think is pretty critical and even more critical than it was before. The ability to be structured, to say and to do what you say, not just actually say a bunch of stuff and not do it. So, I think those things don’t go out of use, but I would really spend a lot more focus on the ability to do critical thinking, analytical thinking, having creative ideas, obviously, creating a little bit of a hacker mindset, how to cut corners to get to something is actually really more and more important. The second part is with all of this, the overlay of growth mindset. I feel having a more flexible mindset rather than a fixed mindset. What I mean by that is not praising your kids or your grandchildren for being very intelligent or very beautiful, which are fixed things, they’re static things, but praising them for the effort they put into something, for the learning that they put into something, for the process, raising the

In this episode, I sit down with Adam Liposky, founder of Canopy Network, to dive into the next evolution of Web3 infrastructure — application-specific blockchains. We explore how Canopy is turning complex, costly L1 development into something anyone can launch in minutes. Adam shares how AI is changing developer workflows, what real value capture looks like in Web3, and why the future belongs to fast-moving, focused builders. Whether you're a founder, dev, or investor, this conversation breaks down what's really needed to scale Web3.⏱️ Key Takeaways with Timestamps(00:00) - Intro to Adam Liposky and Canopy's mission(02:48) - How Adam got into crypto via VC and gaming(05:23) - What Canopy solves: Fast, secure app chain deployment(07:18) - The real pain point: Complexity of building in Web3(09:56) - How AI and language agnostic design speed up dev(11:26) - Why games love Canopy's flexible and upgradable chains(13:56) - Devs care about value capture, not just building(16:34) - Canopy's win-win model using restaked security(18:11) - Fragmentation vs interoperability: Canopy's solution(20:59) - Progressive decentralization: Start fast, grow safely(21:08) - What devs love most: Speed and iteration(23:07) - VC appetite for L1s is down, but utility is up(28:14) - Projects to watch: Why Canopy stays focused(30:23) - Adam's advice: Focus on customers, not hype(31:10) - If he could restart: Get dev feedback earlier(33:17) - Go-to-market: Solo devs, indie hackers, launchpad(36:37) - Spending wisely: Team first, marketing second(39:50) - Biggest challenge: Finding and keeping great people(41:09) - Biggest ask: Join Canopy's beta and launch your chainIt would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend.

This week on Hustleshare, host Ron Baetiong sits down with Julian Legazpi, founder and chief venture officer of Infi Group, to trace his journey from growing up Filipino-Canadian to becoming a global operator, angel investor, and venture builder across Southeast Asia. Julian shares hard-earned lessons on grit, diaspora identity, and what it really takes to build, fund, and scale companies in emerging markets—beyond the hype and into the real work.Ep Timeline:[00:02:30] – Julian's hustle: venture building, investing, and scaling across Emerging Asia[00:04:17] – Origin story: Growing up Filipino-Canadian in Vancouver[00:06:56] – Mr. Worldwide era: Austria, Taiwan, Indonesia, and everywhere in between[00:08:48] – First influences: Rich Dad Poor Dad and Tito Ray's real estate seminar[00:14:05] – Skill stack: What traveling the world taught him about confidence[00:18:18] – Building confidence vs. competence: embracing failure as fuel[00:22:32] – The Philippine diaspora: Why most Phil-Ams see home as "back there"[00:29:20] – Jumping into entrepreneurship during COVID (worst timing ever)[00:32:47] – From angel investor to VC: putting money where your mouth is[00:37:09] – What Julian looks for in founders: "You're a cockroach, bro"[00:40:45] – Why Southeast Asia is always one cycle behind[00:44:48] – The vintage problem: Fund One exits and the recycling capital game[00:52:22] – Why most startups shouldn't take VC money (and what to do instead)[00:59:02] – The B2C trap: Why product businesses struggle with VC math[01:05:18] – The hybrid model: How InfiGroup blends VC, PE, and venture building[01:11:14] – InfiCommerce: Rolling up boring logistics businesses across the region[01:18:14] – Bridging the diaspora: Julian's mission to bring talent home"I cannot stress enough that we all have to find our own superpower. And everyone is different. Everyone has something that is not categorized in math, science, social sciences, economics, like we learned in school, right? There are these gray area fringe type of personality skillsets that you only get by working and constantly analyzing yourself."Resources:LinkedIn: https://www.linkedin.com/in/jlegazpiWebsite: https://infigroup.co/Links/Sponsors:OneCFO: https://www.onecfoph.co/PLDT Enterprise: https://pldtenterprise.com- MSME Fiberbiz - https://bit.ly/pldtenterprise-ROId-nbsi-fiberbiz - 5G SIM Only - https://bit.ly/pldtenterprise-ROId-nbsi-smart-postpaidHustleshare is powered by PodmachineHustleshare is powered by PodmachineListen to our brand new podcast: Founders Only HEREDiamond Supporters: Sarisuki, PayMongo, SeekCap, Shoppable Business, Qapita, GoTyme Bank, Sprout Solutions, UNO Digital Bank. Hosted on Acast. See acast.com/privacy for more information.

Produced by Foundersuite (for startups: www.foundersuite.com) and Fundingstack (for emerging manager VCs: www.fundingstack.com), "How I Raised It" goes behind the scenes with startup founders and investors who have raised capital. This episode is with with Sam Lessin of Slow Ventures, a a generalist early stage venture capital firm based in San Francisco, Boston, and New York that has invested ~$1B in startups building in the security, fintech, buyouts/rollups, SaaS, crypto, consumer, healthcare, and the creator economy. Slow's portfolio includes companies like Airtable, Brightside, Gusto, Metropolis, OpenPhone, PillPack, Ro, Solana, Teamshares and more. In this episode we discuss what Slow invests in across its 5 funds, why Slow is a "generalist fund," how Sam and Kevin raised capital for their first fund from ex-Facebook employees, why Slow decided to launch a dedicated fund focused on the creator economy, his advice for emerging VC managers and much more. How I Raised It is produced by Foundersuite, makers of software to raise capital and manage investor relations. Foundersuite's customers have raised over $21 Billion since 2016. If you are a startup, create a free account at www.foundersuite.com. If you are a VC, venture studio or investment banker, check out our new platform, www.fundingstack.com

Enterprises aren't failing at AI. They're failing at data. Daniel Docter, Managing Director at Dell Technologies Capital, shares why the biggest barrier to enterprise AI isn't models or talent—it's the fractured, unstructured, and context-free data that most companies still struggle to harness. In this episode of Technovation, Daniel and Peter High explore: Why data context is critical to enabling enterprise reasoning How Redis and other startups are fixing the AI performance gap What Dell Technologies Capital looks for in early-stage enterprise AI How corporate VC has evolved into a founder-enabling force Why the next five years will reward enterprises that fix their data layer

AI, AI, and more AI. Do you even live in Silicon Valley if you're not talking about it every episode? This week, we go deep on how open-source vibe-coding tools are starting to replace the need for traditional SaaS contracts. Dave shows (and tells) how he used the open-source “Claude bot” to reverse-engineer his Mural photo frames and spin up a better web UI in under 30 minutes. Brit test-drives Anthropic's new Cowork, auto-mapping the entire seed VC market while it runs her browser, and celebrates how much these agents are boosting household productivity. Sam loves the power but calls local agents a massive security backdoor, argues trust will consolidate with Apple and Google, declares that “software is not a business,” and announces we've officially entered the fart-app era of AI toys. Jessica flags rising panic among SaaS vendors. Don't miss Sam's hot-chick analogy and Brit's Pop Corner to close it out

Tighe Burke is the founder of SRCH Partners, a boutique executive search firm that helps SaaS founders replace themselves as CEO without selling their companies. After years in large executive recruiting firms, Tighe built a practice focused on founders who want their business to keep growing while they step back from day-to-day leadership. Tighe works with profitable software companies typically in the $5M–$50M revenue range, helping founders hire experienced and scrappy operators who have already scaled businesses through the next phase. His team has completed more than 75 executive searches, often placing CEOs who take full P&L ownership while founders move into chairman, product, or portfolio roles. In this episode, we dig into when hiring a CEO makes sense, how compensation and incentives really work, and what founders must let go of for this transition to succeed. Tighe shares practical warning signs, real compensation structures, and why this "third door" can create more value and freedom than selling too early. Key Takeaways Founder Readiness Matters — This only works when founders clearly know what they want their life and role to become next. $5M+ Reality Check — Most companies need real profitability to afford a strong CEO with authority and incentives. Operators Are Different — The best CEOs have already scaled similar businesses and don't need to learn on your dime. Let Go Or Don't Hire — Founders who keep control undermine the hire and drive away the right operators. Comp Isn't Just Equity — Profit sharing, bonuses, and transaction payouts often work better than stock alone. Shadow Period Is Normal — The first few months require intentional transition, not instant disappearance by founders. Value Can Multiply — Hiring the right CEO can grow valuation faster than selling too early ever would. Quote from Tighe Burke, Founder of SRCH Partners "There are three doors as a founder entrepreneur. Door #1is keep running your business. Maybe you love your business. Door #2 is to exit the business and sell your company whenever you either get a good multiple, or the time is right, or a good buyer. " "Door #3 is where we come in. Hopefully, your business cash generating asset for you. There are a lot of founders who think of their business that way. Some particularly people who like start their own company, it's their baby, it defines who they are. That's great. But if for any reason you're feeling angst or like you think someone can get past 10 million when you've really struggled there, that's probably true.  "Let's bring in somebody else, an operator, a big O operator to run the business, to own the P &L, to make strategic decisions, to hire, to fire, to do all the things that you probably don't really like anymore.  "You don't have to sell the business. You can actually get a bigger multiple later on by having a strong management team in place if that is something you choose. And you get your life back. can be with your family. You can start another business. You can advise, invest, kind of do whatever you want." Links Tighe Burke on LinkedIn SRCH on LinkedIn SRCH website Podcast Sponsor – Designli This podcast is sponsored by Designli, a digital product studio that helps entrepreneurs and startups turn their software ideas into reality. From strategy and design to full-scale development, Designli guides you through every step of building custom web and mobile apps. Learn more at designli.co/practical. The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com. Practical Founders CEO Peer Groups Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding.  A Practical Founders Peer Group is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by Greg Head.

We kick off our CPG series with Dr. Erin Marasco, Senior Director of Global Biology at Cargill, who leads innovation in ingredient discovery, strain development, and biotech applications. Erin takes us on a fascinating journey from the fundamentals of fermentation to the complexities of scaling biotech products from lab bench to global supply chains. We explore Cargill's 30-year history in biomanufacturing, discuss why terms like "precision fermentation" might be doing more harm than good, and learn what it really takes for startups to partner with multinational companies. Erin shares insights on feedstock diversity across continents, the future of nutritional bioactives in everyday foods, and why success in biotech means moving from "novel" to "preferred." This conversation is essential listening for anyone interested in how biology is quietly transforming every aisle of the grocery store.Grow Everything brings the bioeconomy to life. Hosts Karl Schmieder and Erum Azeez Khan share stories and interview the leaders and influencers changing the world by growing everything. Biology is the oldest technology. And it can be engineered. What are we growing?Learn more at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.messaginglab.com/groweverything⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Chapters:(00:00:00) - Introduction & New Year Kickoff — Welcome to 2026 and the start of our CPG series!(00:01:00) - JP Morgan Conference & South Africa Travel(00:05:00) - New Food Pyramid Controversy(00:10:00) - Introducing Erin Marasco & Cargill's Role in Biotech(00:17:00) - Where Biotech Creates Real Leverage at Cargill(00:21:00) - Demystifying Fermentation: Why Now?(00:26:00) - How Cargill Partners with Startups(00:30:00) - Biggest Misconceptions About Working with Big Companies(00:33:00) - What Product Readiness Means to Cargill(00:38:00) - Plasmids to Pallets: Successful Partnership Examples(00:47:00) - Feedstock Diversity Across Continents(00:53:00) - The Future: Nutrition as Everyday Food(00:58:00) - Quick Fire Questions & Retiring "Precision Fermentation"(01:03:00) - Wrap-Up & What's Next in the CPG SeriesLinks and Resources:CargillCargill Fermentation BlogFermentation: nature's original biotech by CargillCantabria Labs (sunscreen from plant extracts)Viro - Sugarcane StrawsSawubona Mycelium Heliocare Cantabria Labs Andreesen Horowitz, VC fund, raised a $15 billion Topics Covered: biotech, industry, biomanufacturing, bioprocessing, agriculture, agritech, strain engineering, biotech R&D, feedstocks, chemical engineering, bioengineeringHave a question or comment? Message us here:Text or Call (804) 505-5553 Music by: Nihilore Production by:  Amplafy Media

Send us a textJoin hosts Alex Sarlin and Ben Kornell as they kick off 2026 with a wide-ranging Week in EdTech conversation covering tech backlash, AI in education, market consolidation, consumer learning tools, and major voices shaping the future of teaching and learning.✨ Episode Highlights:[00:00:00] Growing tech backlash around screen time, phone bans, and distrust of edtech.[00:03:55] PowerSchool layoffs reflect private equity pressure and profitability focus.[00:06:30] Layoffs highlight the human cost for educators working in edtech.[00:09:04] Screen time skepticism reaches adult learning and professional assessments.[00:10:52] Big Tech ramps up AI competition as Meta, Amazon, and Apple reposition.[00:12:42] Consumer AI learning startups draw VC attention amid edtech valuation gaps.[00:13:58] Funding: Obo raises $16M Series A for AI-generated, multimodal courses.[00:17:16] UX, speed, and multimodality emerge as key edtech differentiators.[00:19:10] Speechify secures NYC schools deal, blending accessibility with consumer-grade UX.[00:21:08] Engagement-first consumer learning apps challenge traditional edtech models.Plus, special guests:[00:23:48] Eli Luberoff, Founder of Desmos Studio, on creative math tools and Desmos Professional.[00:50:28] Rebecca Winthrop, Senior Fellow and Director, Center for Universal Education at The Brookings Institution, on how AI risks currently outweigh benefits for students without better guardrails.

Parable is building an end-to-end intelligence platform that quantifies how organizations spend their collective time—the foundation for measuring real AI impact. With a thousand data connectors ingesting activity and log data across the enterprise software stack, Parable constructs proprietary knowledge graphs that size opportunities and measure outcomes in hard dollars, not adoption metrics. In this episode of BUILDERS, I sat down with Adam Schwartz, Co-Founder & CEO of Parable, to explore why 95% of CFOs see no AI ROI, how his decade running profitable businesses under resource constraints shaped his focus on inputs over outcomes, and why 2026 requires moving AI from CapEx experimentation to measured OpEx. Topics Discussed: Why the 95% CFO stat on AI ROI matters as an arbiter of truth, despite backlash Building knowledge graphs from activity data to quantify collective time allocation across hundreds of people The fundamental problem: enterprises lack quantitative frameworks for operational efficiency pre-AI Running parallel ICP experiments to achieve sales-market fit before product-market fit Why Parable has never lost a POC once leaders see quantitative baselines Market dynamics creating false signals—unprecedented curiosity without buying intent The demarcation between companies treating AI as product work versus those waiting for vendor solutions Why AI transformation demands century-old management structures to be questioned GTM Lessons For B2B Founders: Engineer disqualification in momentum markets: Market-wide AI enthusiasm creates pipeline illusion. Prospects will engage indefinitely for education without purchase intent. Adam's framework: "How do we get people to say no to us and not drag us along... They want to keep talking because they want to learn and they want to know what's going on and they are genuinely interested." In enterprise sales during category shifts, build explicit qualification gates that force prospects to reveal resource commitment or disqualify. Extended evaluation cycles feel like traction but destroy unit economics. Use go-to-market as ICP discovery mechanism: Adam intentionally pursued multiple customer segments simultaneously—different company sizes and AI maturity stages—to let data reveal fit rather than rely on hypothesis. His memo to the team: "We're going to go after these three, you know, many different sizes of companies in order for us to decide like, who we like best." The key insight: get to problem-market fit and sales-market fit validation before optimizing product-market fit. This inverts conventional wisdom but works when TAM is massive and the bottleneck is identifying who feels pain acutely enough to buy now. Qualify on organizational structure, not verbal commitment: Every enterprise claims AI is strategic. Adam's hard filter: "Who in the organization is responsible for AI transformation? And if you don't have a one person answer to that question, you're not serious." Serious buyers have a named owner reporting to C-suite with dedicated budget and team. Buying Gemini, Glean, or other point solutions isn't a seriousness KPI—it's often passive consumption of AI as a byproduct of existing software relationships. Look for companies doing five-year work-backs on industry transformation and cascading effects on their operating model. Target post-experimentation, pre-scale buyers: Adam discovered the sweet spot isn't companies beginning their AI journey—it's those who've deployed initial programs and now need to prove value. "The market of people that have started to build AI into their operating model or into their strategy in like a coherent way, there's a team, there's an owner, there's budget... those are the people that we really want to be talking to." These buyers understand the problem viscerally because they're living it. They do product work daily—talking to stakeholders, generating use cases, building briefs, triaging roadmaps. They need your solution to professionalize what they're already attempting manually. Build measurement into your category narrative: The AI tooling market has over-indexed on soft efficiency claims that won't survive renewal cycles. Adam's warning: "There is too much hand waving around soft efficiency gains... you're going to have to renew and you need NRR and I don't think it's going to be that usage of the tool internally by employees and adoption is going to be enough." The last decade over-rotated to "everything drives revenue" due to VC pressure. This decade requires precision: does your product save time, reduce headcount needs, or accelerate revenue? Quantify it. Partner with measurement platforms if needed. Adam's insight on Calendly is instructive—it clearly saves time, but most buyers can't quantify how much, which weakens renewal economics. // Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co // Don't Miss: New Podcast Series — How I Hire Senior GTM leaders share the tactical hiring frameworks they use to build winning revenue teams. Hosted by Andy Mowat, who scaled 4 unicorns from $10M to $100M+ ARR and launched Whispered to help executives find their next role. Subscribe here: https://open.spotify.com/show/53yCHlPfLSMFimtv0riPyM

У каждого профессионала есть знания, которые ценны для других. Вопрос только в том, как превратить их в дополнительный доход, не перегружая себя и не жертвуя основной работой. Хорошая новость: это проще, чем кажется, и начать можно с малого.А дальше - все зависит от вас. То, что начинается как сайд-проект, собранный на коленке, может вырасти в полноценный бизнес или стартап. Многие успешные компании выросли именно так - основатели начинали с простого MVP параллельно с работой, находили своих клиентов, тестировали идеи, а потом масштабировали то, что сработало. Главное - начать правильно и понимать, куда это может привести.В прямом эфире ответим на ваши вопросы: Каким образом можно монетизировать свою экспертизу Как совместить с основной работой без выгорания и конфликта интересов Откуда брать силы, время и деньги для старта Как работать со страхами и неуверенностью в себе Где искать поддержку - комьюнити, менторов, первых клиентов Реальные истории тех, кто запустил свою практику параллельно с работойДенис Калышкин - инвестиционный директор американского венчурного фонда с 11+ лет опыта, основатель проекта для предпринимателей "Спроси VC": https://t.me/ask_vc https://www.linkedin.com/in/denis-kalyshkin-b634592a/Интенсив по запуску стартапов и бизнесов (новый 3-й поток стартует в январе 2025):https://t.me/prodcastUSA/1765Упомянутые в эфире эпизоды: Релокация в США через открытие своей компании (Дима Литвинов): https://youtu.be/1k64mD6wLSU Как открыть бизнес LLC, C-corp (Данил Кислинский): https://youtu.be/CP0PofO2WEIПредыдущие эфиры с Денисом Калышкиным: Тренды венчура 2026: Где инвестиции - там и работа. Новые стартапы и юникорны: https://youtube.com/live/7jNdCQsZHJ0 Мечтаешь о стартапе? 16 честных ответов от венчурного инвестора: https://youtube.com/live/6FR1KS9n0P4 Стартап-тренды 2025: что взорвет рынок и почему бездействие - ваш главный враг?: https://youtube.com/live/K3WRgBFU06s Как и где найти сооснователя стартапа? Как выбрать подходящего партнера для бизнеса?: https://youtube.com/live/-s1ZyqzL9bA Как придумать идею для стартапа? Кому нужно запускать бизнес? С чего начать?: https://youtube.com/live/uXBAtS11nYc Что нас ждет в 2025? Кризис, массовые увольнения, крах стартапов. Где искать работу?: https://youtube.com/live/ZbYm10zrfEAЗаписаться на карьерную консультацию (резюме, LinkedIn, карьерная стратегия, поиск работы в США):https://annanaumova.comКоучинг (синдром самозванца, прокрастинация, неуверенность в себе, страхи, лень):https://annanaumova.notion.site/3f6ea5ce89694c93afb1156df3c903abТелеграм: https://t.me/prodcastUSAИнстаграм: https://www.instagram.com/prodcast.usТикТок: https://www.tiktok.com/@us.job⏰ Timecodes ⏰ 00:00 Начало 21:07 Как заработать на экспертизе? 45:32 Консалтинг для PM 52:16 Как еще монетизировать свою экспертизу? 1:24:10 Неуверенность в себе и синдром самозванца

This one hits deeper than a startup story.I sat down with Kal Merhi, founder of iRoomit, and what began as a simple “Airbnb-for-roommates” conversation turned into a masterclass in resilience, reinvention, and building something that actually serves people.Kal grew up in Beirut during the civil war—fifteen years of survival, homelessness, and walking miles every morning just to get water. He came to Canada with ten family members and two dollars, learned the language on the fly, bought his first business with a handshake and a promissory note, scaled to 23 stores, lost everything, rebuilt five more businesses, burned out, lost his mother… and then found the idea that finally felt like purpose.iRoomit wasn't built to chase hyper-growth or squeeze users for revenue.It was built to solve a real, global problem:Rent is unaffordable. Loneliness is rising. Scams are everywhere. And millions of people just need a safe, stable place to live.In this episode, we break down:* How Kal's war-zone childhood shaped his belief that every person deserves “100 square feet called home.”* How bootstrapping forced him to design a real business, not a VC hallucination.* The scam problem in housing that nobody talks about—and how iRoomit engineered a zero-scam ecosystem using real-time ID + payment verification.* The rise of co-living, and why the next housing wave isn't ownership—it's shared space, affordability, and community.* Why landlords can make more by renting individual rooms than renting a whole house.* How iRoomit is scaling across Canada, the U.S., the U.K., Australia, Singapore, and the UAE—without investors or a dime of outside funding.* The mindset required to start from nothing, fail repeatedly, and still build something that matters.If you're a founder rebuilding from setback…If you're trying to build clarity around your next move…If you want an example of someone who's been through hell and still chose purpose over profit—This conversation will reset your bar.Listen in. Then turn insight into execution.Connect with Kalhttps://www.linkedin.com/in/kal-merhi-a40563161/https://www.iroomit.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dougutberg.com

技术在加速，规则在松动，不同代际对世界的感受也越来越不一样。当下的我们究竟正处在一个怎样的转变之中？ 这期节目，四位关注不同社会领域的节目制作人坐在一起，从科技变革引发的社会范式重构，到年轻人参与的谷子经济与情绪实感，再到青少年作为「数字原住民」的观察视角，聊聊我们在 2025 年的内容创作与对话中，捕捉到的一些关键线索。 希望这些真实而多元的体感，能为你理解 2026 带来一些判断的线索，也为浮动的情绪留下一两个安放的锚点。 本期人物 Yaxian，「科技早知道」节目监制 Mengyi，「声动早咖啡」主播 骞文，「Knock Knock 世界」执行主编 徐涛，声动活泼联合创始人 主要话题 [07:10] 被替代还是被重塑？AI 带来的工作焦虑是真实的吗 [14:41] 从谷子经济到 AI 陪伴，看当下消费者对「实感」的需求 [37:14] 时代剧烈摩擦的痛苦，如何降落在每一个个体身上 [47:44] 全球变暖、女厕所排队……我们的青少年都在关心什么议题 点击链接，查看「四张榜单」的完整内容 (https://mp.weixin.qq.com/s/dESwd9-27qtacCo2cNm09A) 在这篇文章中，你将看到来自不同节目的年终回顾——那些在过去一年里，被我们反复讨论、不断追问的关键事件。希望这四张榜单和本期节目，能成为你理解 2026 年将身处怎样的世界时，一组值得参考的坐标。

In this episode of Building the Base, Hondo Geurts and Lauren Bedula sit down with Paul Kwan, Managing Director at General Catalyst, where he leads the global resilience investment team, recorded live at the Reagan National Defense Forum in Simi Valley. Paul traces his path from reading The Hunt for Red October in sixth grade to becoming one of the original defense tech VCs, and walks through what venture capital actually is and how it differs from private equity. He discusses General Catalyst's 25 years in the space, including backing Anduril early on, and explains how private capital funds R&D for the next generation of defense companies. The conversation covers the economics of VC, common misconceptions about venture capital and technology development, and Paul's reaction to Secretary Hegseth's acquisition reform speech.Five key takeaways from today's episode:Venture capital funds operate on 10-year timeframes compared to private equity's typical 5-7 year windows—a structural difference that allows VCs to take a longer-term approach while defense companies work through the challenges of manufacturing hardware at scale.Private investors fund R&D upfront in the venture model, betting that a small percentage of portfolio companies will become large enough to go public or get acquired, a different approach than traditional models where government funded product development from the start.Re-industrialization requires investment across the entire industrial stack. Beyond defense platforms, success depends on building out manufacturing software, testing infrastructure, electronic supply chains, and energy systems to enable production at the speed and cost needed.Large fundraises reflect market confidence in future contract awards. When VCs invest significant capital, they're anticipating that government contracts will follow. If those contracts don't materialize, it creates challenges for the innovation ecosystem that funded product development.First-of-its-kind defense tech business models represent new market categories. These companies may be valued differently than traditional defense contractors, similar to how technology disruptors in other industries trade at different multiples than legacy incumbents in their sectors.

In this episode of Tank Talks, host Matt Cohen and recurring guest John Ruffolo kick off the new year with a true “only in 2026” combo: a front-row seat to a SpaceX Falcon 9 launch carrying Kepler Communications' satellites, followed by a hard reality check on Canada's venture capital slowdown. John breaks down what it felt like watching the rocket, the first-stage landing, and why Kepler's mission is bigger than a cool space flex: it's the early shape of space-based data centers and laser-linked networks.From there, Matt and John unpack an RBCx report arguing 2025 was Canada's worst VC fundraising year since 2016, and why “capital is fungible” is a comforting myth at the seed stage. They dig into how de-globalization and national self-interest are reshaping capital flows, why Canada is getting squeezed by the barbell effect in venture, and what policy levers (like a QSBS-style incentive) could actually restart domestic risk capital. The episode closes with two tension points that rhyme: Nvidia's $20B Groq (with a Q) deal showing how returns can flow outside Canada, and the escalating political drama of Trump's DOJ targeting Fed Chair Jerome Powell and what that uncertainty does to markets.If Canada can help put “data centers in the sky,” can it also build the domestic capital base to keep its best companies anchored at home?“A Data Center in the Sky” + Laser-Linked Networks (00:03:07)Kepler's satellites are positioned as more than comms hardware: think orbital compute + storage + real-time processing, with laser links connecting satellites like a network in space.The RBCx VC Report: 2025 Fundraising Hits a Low (00:05:51)Matt summarizes the report's headline numbers and why the pain concentrates on emerging managers and the long tail, not the handful of breakout founders who can raise anywhere.“Venture Investing Is Local” in a De-Globalizing World (00:08:39)John challenges the idea that foreign capital will fill gaps at the earliest stages. In this cycle, countries increasingly keep capital for their own ecosystems, making Canada's domestic shortage more dangerous.The Barbell Effect: Giants and Niche Funds Win, the Middle Gets Crushed (00:10:17)They outline how venture is polarizing into mega-platform funds and specialized micro-funds, while mid-sized generalists get squeezed, and why that dynamic is amplified in Canada.Nvidia's $20B Groq Deal and Canada's Return Profile (00:12:36)They break down the Groq (Q) story, Canadian ties among investors and operators, and the bigger question: if LPs can make outsized returns elsewhere, what keeps capital committed to Canada?Trump vs Powell: DOJ Pressure, Fed Independence, and Market Fallout (00:17:38)They react to the reported DOJ move against Jerome Powell, how even Republicans are uneasy about weaponization, and why political pressure campaigns tend to increase uncertainty, not lower it.Why Uncertainty Pushes Rates Up, Not Down (00:19:30)John's punchline: the intended outcome (lower costs, lower rates) can backfire as markets price in instability, and the Powell timeline may extend into a longer institutional fight.Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffoloConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

This Week In Startups is made possible by:Every.io - http://every.io/LinkedIn Jobs - https://www.linkedin.com/twistZite - http://zite.com/twistToday's show: Why do 40% of Japanese students want to build a company rather than join the corporate workforce?On TWiST, Jason considers this question along with special guest Kathy Matsui, general partner of the global VC fund MPower Partners.Their wide-ranging discussion also features a look inside one of Jason's favorite international companies, Japan's own fashion retailer Uniqlo, where Kathy is a board member. (While in town, he took the opportunity to check out their flagship store in Ginza.)They also take a look back at Japan's economic crisis in the ‘90s, and why recovery took such a very long time… MPower's philosophy while raising their second fund, and why they're so focused on what they call “Japan Dynamism”… the key question of whether Japanese startups should focus on the domestic market first BEFORE chasing global customers… why an ESG (environment, social, governance) focus in Japan is so different from DEI in the US… and much more.Timestamps:(00:00) Kathy Matsui is on the board of one of Jason's favorite companies, Uniqlo (and its parent, Fast Retailing)(10:52) Why deflation in the ‘90s was “poison” for Japanese businesses and workers(13:41) Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit http://every.io/(15:05) Why do American entrepreneurs keep falling in love with Japan?(18:17) How the Japanese government is encouraging more founders to start tech companies(20:05) LinkedIn Jobs - post your job for free at http://linkedIn.com/twist then promote it to get access to LinkedIn Jobs' new AI assistant.(21:15) Why more Japanese grads are becoming entrepreneurs(23:46) What MPower means by “Japan Dynamism” and why they're focused on it for Fund 2(24:26) The various reasons so few female founders are getting funded in Japan(27:38) The differences between MPower's approach and corporate DEI in the US(30:03) Zite - Zite is the fastest way to build business software with AI. Go to https:/zite.com/twist to get started.(31:48) Is the “first Japan, then the WORLD” approach a waste?(35:34) In Japan, you don't build trust in just one meeting…(39:19) Kathy's take on the complex relationship between Japan and the MENA region(42:13) Why the UAE and Saudi Arabia aren't “dumb money,” as some in Silicon Valley assume(43:49) Can Japan still rely on the United States as a strong geopolitical partner? There are question marks…(48:16) Regarding China: “When you move up the stack… be careful what you wish for!”(49:06) Q: Aladdin is developing smart trash cans… Kathy and Jason's tips on founder Yuki Kanai's pitch(54:31) Q: Maya Hojnacki from AltSource Capital asks about how MPower helps startups facing regulatory or policy obstacles(57:17) Q: Hiroki from Goi wants Jason and Kathy's take on Japan's point-based immigration policies(1:06:38) Why Japan desperately needs AI to start taking more jobs*Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/Check out the TWIST500: https://twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpThank you to our partners:(13:41) Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit http://every.io/(20:05) LinkedIn Jobs - post your job for free at http://linkedIn.com/twist then promote it to get access to LinkedIn Jobs' new AI assistant.(30:03) Zite - Zite is the fastest way to build business software with AI. Go to https://zite.com/twist to get started.Check out all our partner offers: https://partners.launch.co/

上周 Diane 在拉斯维加斯参加了一年一度的「科技春晚」-- 国际消费品电子展 （CES）。2026 年的 CES 给人一种略显反差的感受：趋势已经在台上被讲清楚了，但产品仍然在路上。一方面，在中央舞台上，英伟达、AMD 等公司已经把未来几年的技术路线、基础设施与生态叙事铺陈完毕，而在展馆中，很难看到真正「范式级」的 AI 原生产品。 在展会上，我们也邀请了一位长期深耕控制系统与基础设施层的创业者，从工程与系统视角重新审视 CES：机器人为什么「看起来很热，但离大规模交付还很远」？芯片、服务器、工业系统与 AI 基础设施有哪些创新的机会？在这轮 AI 浪潮中，中国公司面临的机会与风险又是什么？ 希望这期节目能帮你看清展会背后的趋势与挑战。 本期人物 秦井武，优联智能创始人兼 CEO 丁教 Diane，「声动活泼」联合创始人、「科技早知道」主播 主要话题 [02:37] 最大感受：趋势已经在主会场完成，英伟达「抢占的不是发布窗口，而是生态高地」 [04:30] 展馆里的反差：AI 原生、范式级产品稀缺，更多是升级、叠加与工程改进 [08:10] 产品之外，讲故事和营销能力成了新竞争力 [08:34] 一些有趣的小产品：AI 对话口罩、Pebble 手表复活背后的故事 [10:24] 成熟赛道的高度内卷，产品创新但并不意外 [12:30] 工业自动化视角看 CES：机器人、AI、系统与交付能力的真实差距 [15:07] 为什么今天的具身机器人更像“工程玩具”？ [17:43] 芯片之外，生态、服务器、系统能力是刚需 [19:09] 传统工业机器人正在被 AI 重构：封闭系统走向学习型系统的关键拐点 [24:00] AI 基础设施需求爆发，数据中心、控制系统、供电与冷却成为核心机会 [25:29] 在 AI Infra 时代，新玩家与巨头站在同一起跑线 [26:00] 一句话总结：趋势已经非常清楚了，但产品还在路上 2026 香港 Consensus 大会 在 2025 年首次亚洲举办、门票售罄之后，「Consensus大会」将于 2 月 10 日至 12 日回归香港，并以更大的规模亮相。本届大会预计汇聚来自 100 多个国家的 15,000 余名行业参与者和 6,000 多家企业，覆盖资本、技术、监管与应用等多个层面，被视为连接全球资本与亚太创新的重要平台。三天高密度交流，帮助你快速把握行业走向，捕捉真实的市场信号。诚邀你来到香港，与全球建设者一起，站在这轮变革浪潮的前沿。 如果你也有兴趣参与到香港「Consensus大会」(https://sourl.co/tZ3Chn ）中 ，欢迎点击链接购票（https://sourl.co/zD5myC ），输入「SHENGFM」获得「科技早知道」专属折扣！ Untitled https://media24.fireside.fm/file/fireside-uploads-2024/images/4/4931937e-0184-4c61-a658-6b03c254754d/biGyk45g.jpeg 幕后制作 监制：Yaxian 后期：迪卡 运营：George 设计：饭团 商业合作 声动活泼商业化小队，点击链接直达声动商务会客厅（https://sourl.cn/9h28kj ），也可发送邮件至 business@shengfm.cn 联系我们。 加入声动活泼 声动活泼目前开放商务合作实习生、社群运营实习生和 BD 经理等职位，详情点击招聘入口详情点击招聘入口 (https://eg76rdcl6g.feishu.cn/docx/XO6bd12aGoI4j0xmAMoc4vS7nBh?from=from_copylink) 关于声动活泼 「用声音碰撞世界」，声动活泼致力于为人们提供源源不断的思考养料。 我们还有这些播客：声动早咖啡 (https://www.xiaoyuzhoufm.com/podcast/60de7c003dd577b40d5a40f3)、声东击西 (https://etw.fm/episodes)、吃喝玩乐了不起 (https://www.xiaoyuzhoufm.com/podcast/644b94c494d78eb3f7ae8640)、反潮流俱乐部 (https://www.xiaoyuzhoufm.com/podcast/5e284c37418a84a0462634a4)、泡腾 VC (https://www.xiaoyuzhoufm.com/podcast/5f445cdb9504bbdb77f092e9)、商业WHY酱 (https://www.xiaoyuzhoufm.com/podcast/61315abc73105e8f15080b8a)、跳进兔子洞 (https://therabbithole.fireside.fm/) 、不止金钱 (https://www.xiaoyuzhoufm.com/podcast/65a625966d045a7f5e0b5640) 欢迎在即刻 (https://okjk.co/Qd43ia)、微博等社交媒体上与我们互动，搜索 声动活泼 即可找到我们。 期待你给我们写邮件，邮箱地址是：ting@sheng.fm 科技早知道 https://media24.fireside.fm/file/fireside-uploads-2024/images/4/4931937e-0184-4c61-a658-6b03c254754d/81NaqVaT.jpg 欢迎扫码添加声小音，在节目之外和我们保持联系。 Special Guest: 秦井武.

Rent is one of the biggest expenses for Americans — and for decades it's been one of the least rewarding. In this episode, Mosheh sits down with Ankur Jain, CEO of BILT, to break down how his company is trying to flip that equation — and reveals new details about BILT's newest credit cards launching next month. Jain explains how BILT has evolved from a simple idea — earning points on rent — into a platform now used in one in four U.S. apartment buildings, connecting rent payments to credit building, neighborhood rewards, and even future homeownership. He walks through how BILT partners with landlords, banks, and local businesses — and what's changing with its upcoming credit cards designed to make everyday spending, from housing to healthcare, work harder for consumers. The conversation widens to rising housing costs and how AI and other technologies could reshape the economics of cities. Beyond that, Jain shares his lessons from scaling BILT with a lean team, avoiding early VC pressure, and what founders often get wrong when trying to grow companies. Mosheh and Ankur also get personal about growing up with immigrant parents. Mosheh Oinounou (⁠⁠⁠⁠@mosheh⁠⁠⁠⁠) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022.