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Tech Deciphered

Tech Deciphered

Author: Bertrand Schmitt & Nuno G. Pedro

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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.


To understand what's really happening behind the surface, join our hosts, Nuno Goncalves Pedro, investor, co-founder and managing partner at Strive Capital, and Bertrand Schmitt, entrepreneur, co-Founder & Chairman at App Annie. They have been each in tech for almost 25 years, are now based in Silicon Valley, having both previously worked and lived in Europe and Asia.


With Tech DECIPHERED, discover how the best entrepreneurs pitch, how investors think, and what are the deep trends underlying the tech industry


Our tone is a little bit like us: passionate, irreverent, nerdy. We are strong-minded, but convey informed opinions. We will always be trying to aim for the truth and that means there will be no BS allowed. We won't be afraid to disagree, but we will be having quite a lot of fun in the process.


To learn more about Tech DECIPHERED, head over to www.decipheredshow.com for more info about the podcast, show notes, resources and complete transcripts.
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In this episode, the second part of our SaaS Primer trilogy, we deep dive into Sales and Pricing in the Software-as-a-service space. For further context, please listen to episode 15, in which we did an Overview of SaaS and its intrinsic Business Models. Please look out for our next episode that will conclude our Primer, with deep-dives on Financing/Fundraising, Benchmarking/KPIs, Lessons Learnt and Predictions. Navigation: Introduction (01:24) Section 1 - Sales Section 2 - Pricing Conclusion Resources Please check below to download our SaaS Primer PDF deck, serving as reference for our episodes 15-16-17 Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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. Download Tech Deciphered SaaS Primer PDF Deck Subscribe To Our Podcast Intro (01:24) Nuno: Today in episode 16, we will have our second episode on our "software as a service" primer. For further reference, please also listen to our episode 15, where we started this discussion. Today, we will talk about sales and pricing, and we will go a little bit in depth into these topics. And we will see where the discussion heads. As always, we always get very verbose when we get excited, as you guys know. Section 1 - Sales Bertrand: Exactly. Let's start today on the sales side. The sales motion, the sales process is obviously a critical part of any business. But, SaaS has its own approach to sales, and it's very tightly connected to the financing, obviously, we'll talk later about financing.  What do we see as a benchmark of percentage spend of sales and marketing, as a percentage of ARR? What we can see, and we are leveraging some slides from Openview Partners, is that across the range, you are at the lowest, around 30 percent of spend in sales and marketing early on, below the $2.5 million ARR barrier.  And then it goes up, 35, 40, potentially 45 percent of spend, on median. From $2.5 million, to 10, to 20, to 50, beyond 50. This is a median, so we see a pretty wide range, plus or minus, 15 percent of these numbers. So if I were to take a different stage, we can see that the wider range would be from 15 to 60 percent being spent in sales and marketing. So widely different range, and usually it depends on the business model. If you have a more product-led growth, you will spend less in sales and marketing. If you're a more traditional, I would call it old-school, SaaS approach, you will usually end up with higher sales and marketing spend.  Nuno: And I would highlight two interesting pieces of this chart.  One. It seems once you get to a certain critical mass of ARR, let's say about $15 million in this case that the costs will start reducing as a percentage of your ARR, which makes sense. You can start optimizing you have a certain scale and a certain brand, and there's a lot of things you can do. The second effect, which might actually correlate to that as well is in many cases, companies are growing really fast to get into the 50 million ARR or a hundred million ARR. So they are spending way into the market, and we discussed it in our previous episode, they're doing a land grab type strategy. And so there may be overspending on sales or on marketing overall for customer acquisition. And therefore, once they taper at 50 million or 100 million, they might actually then optimize their sales and marketing costs.  Also underlines at some point, let's say the a hundred million mark, 120 million mark , would you want to go public as a company and therefore at that stage, you definitely need to align your sales and marketing costs so that the marke...
In this episode, we start our Primer on SaaS - Software-as-a-Service - a trilogy on everything you need to know about SaaS. We will give an Overview of SaaS, as well as discuss the intrinsic Business Models. Please look out for our next episodes that will deep-dive into Sales, Pricing, Financing, Benchmarking/KIPs, Lessons Learnt and Predictions.Navigation:Introduction (01:24)Section 1 - Overview (04:39)Section 2 - Business Model (17:59)Conclusion (45:19)ResourcesPlease check below to download our SaaS Primer PDF deck, serving as reference for our episodes 15-16-17Our co-hosts:Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmittNuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @ngpedroOur 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. Download Tech Deciphered SaaS Primer PDF Deck Subscribe To Our Podcast Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errorsIntro (01:24)Bertrand: Welcome to episode 15. In today's episode, we will talk about SaaS. What is SaaS?What does SaaS mean? SaaS means Software-as-a-Service. This is, and we will talk more about that later on, but this has become over the past decade, one of the most successful way to distribute and monetize software. Why is that? We'll talk more    about that, but in a nutshell, SaaS is really a new philosophy and approach to software, that emerged around 20 years ago, as a way to deliver, a centrally-hosted application over the internet, as a service.In the past, you had to have your own server. You have to install your server. You have to upgrade and maintain your server, and you have to install software on every user laptop or desktop. It was very complex to maintain, to manage, but also on the pricing side, in the past, you would pay a very big license fee for your server, for your desktop license, and you would keep paying, a smaller amount, a maintenance fee, every year, usually for technical improvement. But you will have to keep managing your software server and clients side, for years. And it will become very difficult and complex, and you would have to keep up with improvements in the software. And it was difficult to keep up.What SaaS enabled, software-as-a-service, was, you don't have to manage the server side anymore. It was pioneered by companies like Salesforce, like Netsuite. So no more central IT costs to manage all of this, and the software would be distributed on the internet through your browser, so no need to install a specific software. And pricing was also changed as a result, no need for a big upfront license cost. You would pay every month, every quarter, every year. You could stop any time, or once a year, using the service, suddenly become much easier to consider trying a new service. It would become much easier to distribute that new service, and more important, much more alignment, between customers and supplier.Why? Because suddenly, the customer can leave anytime. Or at least once a year in most cases. And what this means is that it pushed suppliers to make sure their software was of really good quality. And on top of it, usually, much more focused on satisfying end user and consumers, not just making sure they check boxes with central IT.So it has been an evolution. It started 20 years ago. It started to ramp up with the last financial crisis in 2008, when companies decided it's time to give it a try. There was at the time, still some worries around storing your data somewhere else, not controlling your server equipment, infrastructure, and while there is still that worries, there is probably an acknowledgement today that these guys,
In this episode, we will deep dive into the world of productivity tools, processes, habits and hacks. We will share our principles of productivity, calendaring, favorite communication, hardware and broader productivity tools (e.g. CRM). Finally, we will share what tools we are still missing and wish we had. As an “easter egg”, we will also share how to best get in touch with us, so do listen in. Navigation: Introduction (01:24) Section 1 - Principles of Productivity (02:20) Section 2 - Calendaring & Tasks (13:35) Section 3 - Communication Tools (28:30) Section 4 - Broader Productivity Tools (Note taking, CRM, LinkedIn, etc) (43:51) Section 5 - Hardware (51:54) Section 6 - Tools We Wish We Had (59:03) Conclusion (1:03:10) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Nuno: Episode 14. In this episode, we will deep dive into the world of productivity tools, processes, habits, and hacks. We will share our principles of productivity, calendaring, favorite communication, and broader productivity tools like CRM. Finally, we will share what tools we're still missing and wish we had. We will also share some hardware and some gadgets. As an Easter egg, we will also share how to best get in touch with us. So do listen in  Bertrand: Hi Nuno, I think that's so very interesting topic for today. Definitely more tactical than usual coming out of a trilogy of the next decade but I think we got a lot of interest on this topic as well, and ultimately that's one topic that can make us better hopefully near immediately. I hope at least you will find some interesting habits and ideas.  Section 1 - Principles of Productivity (02:20) Nuno: And the first section today is going to be around some principles of productivity. So just sharing the high level, how do we think through productivity for ourselves? How do we organize ourselves? What do we optimize for, you know, how do we think through things? And so maybe I'll start and we'll go from there. The first thing for me is, productivity is everything, you know, the ability to optimize my time. To make the most out of my time, so that I have time for myself on a personal level, but I also have time to interact with people, have meetings, calls, time to work, time to actually do some works, do some thinking, write a memo, do a power point presentation, review actual work. All of that's really, really important. So I spend  a ton of time, literally, normally, actually on my Sundays planning my week, thinking through what are the flows of my week. We'll get to calendaring in a second, but really thinking through what sort of things am I trying to get out of this? And it's very easy to get sort of stuck into tactical stuff, the day to day, do I do 30 minutes conversations or do I do one hour conversations? Do I do a coffee for this? And then I need to go for that. Under COVID, life is a bit easier because we're just back to back in zoom calls, but actually during normal life, we actually have to travel. So, you know, thinking through, do I want to go to that place that day to San Francisco, do you want to go to Menlo park? Do I want to fly to somewhere else? And how many days would I stay there? So all of that, I spent an actual amount of time just around planning.  Once in a while I have moments, I can't say they're very well established, but I have moments maybe a couple of times a year where I go back to the dr...
In this, the third and final episode on the 2020s decade, we look forward, with our scenario planning methodology, into the late 2020s and specifically discuss Next Platforms & Structural Tech, Venture Capital & Start-ups and end with an overall framing of the decade ahead of us. This concludes our 2020s “Time Travel Trilogy”, in which in episode 11, we deep-dived into what lies ahead on the Governmental/Geopolitical and Non-Governmental arenas, as well as shifts in User Paradigms around Work, Home and Mobility. In episode 12, we continued projecting forward in the decade, delving into the future of Energy & Climate Change, Healthcare, Education, Financial Services, Retail & Commerce, Leisure & Entertainment and Social & Communication. Please listen to these episodes, as well. Navigation: Introduction (01:24) Section 1 - Next Platforms & Structural Tech (02:30) Section 2 - Venture Capital & Start-ups (32:48) Section 3 - Overall framing of the 2020s (50:46) Conclusion (56:07) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Nuno: In this episode 13, on the decade of the 2020s, the decade ahead of us, we will be resuming our scenario planning exercise for a couple of other topics. We will be discussing next platforms, technology infrastructure, and the structural tech layers, VCs and startups and how that world will evolve, and we will then bring it all together in some overall framing of the 2020s and their scenarios. For further reference, please listen to our episode 11 and 12, where we talk a lot about a variety of things: the home, work and mobility use cases, we discuss various industries like healthcare, energy, climate change. So listen to our previous episodes that are concluded today in our trilogy of the 2020s. Let's start today with next platforms, the scenarios for what the world will look like in 2029, 2030, around next platforms Section 1 - Next platforms & Structural Tech (02:30) Next platforms - Deep tech Bertrand:  So let's talk about deep tech and deep tech is a fantastic topic to start,   episode 13 today. There are of course, a lot of topics in deep tech and we cannot cover all of them, but let's start with space. I think what has been amazing was just a few days ago, SpaceX, sent humans to the space station and it worked,  they are in great shape. I believe it was nine years, since the last time astronauts have been sent to the ISS from the US, not needing a hitch from the Russians.  I must say it has been amazing. The last 10 years, what SpaceX has achieved, moving from... I'm not sure they had a single rocket working 10 years ago, to sending now humans, and not just sending humans to the ISS, but sending humans through a very, very cost-effective rocket with a state-of-the-art shuttle. It's really amazing. So when you think about 10 years from now, what could be there? Could we ready be on Mars? Nuno what's  Nuno: I don't know. everyone keeps saying it's the next frontier. There are certainly a lot of things that we can do in space, around low orbits, around communication, around infrastructure that helps us, for example, visualize what's happening earth, and making more powerful, our decision making processes here on earth. So there's certainly a lot of potential that I see in space. I'm not sure we're gonna start colonizing things by the end of the decade, so I'm not sure we'll have people in the moon or we will get to M...
In this episode, the second part of our discussion on the 2020s, we will use our scenario planning methodology to project forward into the latter part of the 2020 decade, so that we can deep-dive into the future of Energy & Climate Change, Healthcare, Education, Financial Services, Retail & Commerce, Leisure & Entertainment and Social & Communication.  Please also listen to our previous episode 11, where we started our time traveling and discussed the Macro landscape - both Governmental/Geopolitical and Non-Governmental, and also User Paradigms around Work, Home and Mobility. Join us for our next episode, episode 13, which will conclude our “Time Travel Trilogy” of the 2020 decade, by delving into Next Platforms & Tech, Venture capital & Start-ups and an overall framing of the 2020s.  Navigation: Introduction (01:24) Section 1 - Energy & Climate Change (02:03) Section 2 - Healthcare (06:30) Section 3 - Education (10:06) Section 4 - Financial Services (14:49) Section 5 - Retail & Commerce (18:13) Section 6 - Leisure & Entertainment (25:26) Section 7 - Social & Communication (41:18) Conclusion (47:13) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Bertrand: Welcome back to Tech Deciphered episode 12 on the 2020s.  If you remember our previous episode, episode 11, we started talking about the 2020s, our view about the next decade. Trying to do some scenario planning, trying to project what are the  possible scenarios in 10 years from now of where the world will be. Where some technologies will be. Where some consumer habits will be, and try to walk back from that perspective  and think carefully about what it means and how it could happen or not happen. And obviously, share our opinions of the most likely  scenarios. Section 1 - Energy & Climate Change (02:03) Nuno: And we will start today with energy and climate change. I'm generally optimistic about the discussion around climate change coming out of this shelter in place and lockdowns that we've had around the world. Where people are seeing the effects that we actually have on the environment, and those effects are very obvious. You know, we've taken a little bit of pause. There's a reduction in pollution, and we see the world changes around us. So the momentum, I believe for climate change after this will be a positive one. Just by the nature of what we're observing. There will be two negative levers to this. the first lever that will be negative is the fact that we need to have an economic recovery. And at this moment in time, that economic recovery needs to be fast. So we need to start moving and we need to start moving even faster. In some ways, that will generate probably the impetus for certain governments and certain corporations to more aggressive about manufacturing, logistics and things that we know are implicitly creating pollution. And then the second piece that is negative to this climate change agenda, and us obviously adopting more renewable energies, better technologies, and everything that would make this world that we're currently in, in lockdown, more sustainable into the future is the fact that obviously the price of oil has come down plummeting to levels never seen before. And so it's actually very, very cheap.  So those are the two forces that I believe we're having infighting on. There's many other forces we could have around this,
In this episode, we will start discussing the 2020s. We will introduce a unique and novel framework that we will follow around scenario planning, frame when exactly the 2020s start (hint: starts with a C and ends with 19), debate the macro landscape - both governmental/geopolitical and non-governmental and finalize with the user paradigms around Work, Home and Mobility. We will continue this discussion of the 2020s in the next episodes, including the second part of our analysis of the 2020s, in which we will delve into the future of Energy + Climate Change, Healthcare, Education, Financial, Retail & Commerce, Leisure & Entertainment and Social & Communication. Look out for episode 12.  Navigation: Introduction (01:24) Section 1 - When did the 2020s start? (02:41) Section 2 - Macro, World Governance, Geopolitics and Non-Governmental (03:24) Section 3 - User Paradigms (28:08) Conclusion (53:49) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Nuno: In today's episode, episode 11 we will start talking about the 2020s, the decade that we have ahead of us. We will drive this into different episodes and we will choose a framework that's a little bit different than those normally followed by people that we normally listen to. We will choose a scenario planning framework. The difference between a scenario planning framework and simply a forecast framework is in forecasting. We're trying to extrapolate the future from where we start today. In a scenario planning exercise, we really doing a little bit of time traveling to start with. We're moving ourselves into the future and to 2025, 2029 and we're trying to figure out, from there, what things would need to happen to give rise to those scenarios. In some cases, we will share very strong views, which we hope you're okay with, but in others we will really structure two or three potential scenarios for some of the elements that we will discuss. The objective is to start the discussion going and to the best of our knowledge, really frame what's ahead of us in the next five to 10 years. Section 1 - When did the 2020s started? (02:41) Bertrand:  We will start with, where does it start? When did the 2020s started? And I guess everyone will agree that right now under shelter in place we have a pretty momentous event with us. We're in the middle of COVID-19 emergency, we are in a new world, a brave new world, I guess, and that's how the 2020s started. Obviously it will be more difficult to guess exactly when this decade will be over, beyond, the digits, but more based on inflection points. Nuno: So we start with crisis. Bertrand: We start with crisis. Hopefully we don't end with crisis  Nuno: It seems like every decade has been defined by crisis. So the likelihood of that we shall see.   Bertrand: Indeed Section 2 - Macro, World Governance, Geopolitics, Non-Governmental (03:24) Nuno: We are gonna talk about scenarios for what the world will look like in 2029, 2030, from what I call the outlandish, to the predictable. And we're going to start with the macro space, world governance, geopolitical, and non-governmental elements. 2.1 Covid-19 impact So we'll start with coronavirus, which is obviously in our minds today, and we've already dedicated episode 9A and 9B to the discussion around coronavirus. So today we will not repeat what we discussed in that episode. So go back to episode 9A and 9B to really see our...
We split this episode into two parts: in this, the second and final part (10B), we discuss the significant shifts in business models and the funding landscape that happened in the 2010s. We deep-dive into these business models, e.g. freemium, advertising/free at the point of consumption, subscription, and we give you the no-BS view on the fundraising landscape, what REALLY changed and what (mostly) stayed the same. Please also listen to the first part of this episode (10A), in which we discussed the macro-trends of the 2010 decade and the underlying technological tectonic shifts, including analyses of the OS, platform and product & application spaces Navigation: Introduction (01:24) Section 1 - A brave new world ... of business models (01:56) Section 2 - The switch in funding landscape (27:59) Section 3 - The end ... of the world, as we know it?! (37:38) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Bertrand: Welcome back in this , the second part of Episode 10, Episode 10B, we're still focus on the 2010s, that incredible decade that we spent some time discussing in Episode 10A and now, we are going to be focus on the dramatic changes in business model that happened, as well as the switch in funding landscape. For further reference, listen to the first part of this Episode, Episode 10A. Let's start today with dramatic changes in business models.   Section 1 - A brave new world ... of business models Nuno: So software is eating the world, Marc Andreessen famously wrote, I believe in 2011 and the world was going to be basically not only fully digitized as software was going to entrench itself and disrupt every single industry. Part of that promise, I believe, was realized in the last decade where we have the advent of a lot of things that we discussed in episode 10A, but also I believe that the whole thesis around software is eating the world is not the full story. In some ways, the world got totally digitized, but the physical world didn't catch up. And one of the stupid examples I always give is in a world where, for example, we are going to have self driving cars, well, the cabin of a car needs to change because you don't need to drive anymore. So what is it going to become? Is it going to become an office, a living room, a bedroom? Is it going to be a flexible space or not. So Mark's comment I think is well taken. The comment that digitalization is going to overrule many industries. There is not any other moment, but the current moment in which we're in the midst of COVID, that would make that point. But I do think it missed part of the story. Part of the story is that the physical world will have to change as well. And it's very interesting that Marc just published a manifesto of sorts on how the world needs to change going forward. And he talks a lot about core infrastructure in that manifesto, which is, by the way, an exceptionally well written piece of text. But as I said, I think software wasn't the only part of the story. There is also a hardware and physical part of the story. Bertrand: Yes, totally. It's as you say, pretty interesting that he started the decade with this very famous article and is starting a new decade with a new article. I think he was definitely right on the first one. Software is indeed eating the world, but as you say, the physical world was not following up. The good news is that these days the physical world is...
We split this episode into two parts: in this, the first part (10A), we argue the 2010 decade actually started with the 2008 crisis, the advent of the iPhone, the App Store and the move of the world to the cloud. We go in-depth into the macro-trends of the decade and the underlying technological tectonic shifts, including analyses of the OS, platform and product & application spaces.  Look out for the second part of this episode (10B), where we will discuss the shifts in business models and the funding landscape that happened in the 2010s. Navigation: Introduction (01:24) Section 1 - When did the 2010s really start? (02:24) Section 2 - The Backdrop: Macro-trends and overall context (03:41) Section 3 - The Tech Stack: Operating Systems, Devices & Platforms (19:09) Section 4 - Products & Applications (38:18) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Bertrand: Hi Nuno, how are you today? Nuno: I'm well and you Bertrand, how are you? Bertrand: I'm doing good. I'm doing good, enjoying shelter in place.  In today's episode we're going to discuss, the 2010s, the past decade. A lot happened in that past decade in tech. So it will be a pretty, pretty high density episode. We will talk first about a more higher level, macro view of what has been happening in tech. We will deep dive into the underlying of the technology industry, operating systems, devices, technologies, platforms, and then we will talk about the dramatic changes we also saw in business models. It's actually pretty amazing when we think about everything that changed there. It's not just the technology. And finally, we will conclude around the switch in funding landscape and how much has changed as well. We will be splitting this episode in two. So that it's more digestible.  Section 1 - When did the 2010s really start? So Nuno, I will start with a question. When can we say that the 2010s really started? Nuno:  Well in my opinion, the 2010s start with the 2008 crisis that prolonged itself well into 2009 and to the beginning of the 2010s. And in some ways that's a really good timing to choose because 2008 was also the year in which the Apple app store launched for the iPhone. It's also the year where, in effect, Android became a real threat to iOS and Apple, and it really defined a lot of what was going to come into 2010s so we start with a crisis, as we'll see, we might end with a crisis as well, which will be interesting. So maybe decades actually do get defined by crisis, but for the purposes of this episode, we will go back a little bit in 2007, 2008 to give us more context into what the decade really looked like. Bertrand: Yes, it's might be sad to start and end with crisis, but at least it's pretty clearcut, and crises definitely generate very strong inflection points.  Nuno: And  we had the 2000/2001 already with the bubble. So  in effect, beware of  end of decades. Bertrand: Indeed, indeed. If we make a full comparison, the decades themselves are pretty good. It's the ending and the starting. Section 2 - The backdrop: Macro-trends and overall context   So let's talk about the more macro trends that we saw in tech. And I feel the first big macro trend was really how in the 2010s, technology started to insert itself right in the middle of society, in the middle of us. It has been pretty amazing, to see technology scope, enlarging, growing  into our daily interactions.
We split this episode into two parts: in this, the second and final part (9B), we discuss the implications of COVID-19 in the Venture Capital and the Start-up ecosystems. We share our no-BS view on how easy/how difficult it will be to fundraise, depending on the space you are in, on what will likely change when the “new normal” comes into play and what to focus on in order to make your business survive this, the biggest and most ruthless of all storms (recorded on April 16th). Navigation: Introduction (01:27) Section 1 - Impact on Venture Capital firms (01:44) Section 2 - Impact on Start-ups (14:37) Section 3 - Boards and Governance (31:02) Conclusion (38:23) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Nuno: In this, the 2nd part of episode 9, episode 9B, we will be discussing the impact of COVID-19 on VC firms and startups. For further reference, listen to the first part of this episode, episode 9A. Let’s start today with Venture Capital firms. Section 1 - Impact on Venture Capital firms (01:44) I recently shared with a number of you, on Twitter and a couple of other social networks my own views on what's happening in venture capital. And let's start from the bottom up. Let's start with the individual impact. I know it's shocking, but we, VCs are people, and therefore as people, we have the same issues as everyone else. When we go into shelter in place, we might have families that we need to take care of. We might have kids that we need to take care of, spouses, and we need to articulate complexities. Like, for example, all of a sudden, if you have two kids, if you have a spouse that's also working, you might have three or four zoom sessions at the same time. And you know, houses are not of unlimited space. So obviously people need to articulate. I was seeing a social media post from a well known general partner saying that he was taking his calls in his car because that seemed to be the only real quiet space in his house. So again, we as individuals are dealing with the same complexities as any other individual. And one needs to take that into account. What that implies is, there's a lag. You have a latency right now, if you're a company fundraising, you have to deal with this latency. The first step to that latency is what I just talked about. It's the fact that I as an individual, as a venture capitalist, need to deal with this new reality and this new complexity. I might not be more productive immediately. It might take me a while to get back to my productivity.  The second level of latency that I have to deal with, if I again, am a startup fundraising, and trying to fundraise from a venture capital firm, is the fact that VC firms have portfolio companies, and portfolio companies in some cases right now are going through complex times. And the way I normally categorize portfolio companies for a venture capital firm is you either have counter cyclical portfolio companies or cyclical portfolio companies. If they're cyclical, they're aligned with the current economic cycle we're in. If they're counter-cyclical, they're not. If they're counter-cyclical at this stage, you're probably doing fine, your companies are probably doing well. If the companies are cyclical, your portfolio companies are normally either positively correlated or negatively correlated to the cycle, and if they're positively correlated meaning they're doing really wel...
We split this episode into two parts: in this, the first part (9A), we discuss the broad implications of COVID-19, the short-term and long-term implications, how this is the “end of the world, as we know it”, but why there are many reasons to be hopeful about the future to come (recorded on April 16th).  Look out for the second part of this episode (9B), where we will be focusing on the impact of COVID-19 in the Venture Capital and Start-up ecosystems. Navigation: Introduction (01:27) Section 1 - COVID-19 - “the end of the world, as we know it” (02:36) Section 2 - What the future holds (05:53) Section 3 - Economic impact (12:03) Section 4 - Long term impact of COVID-19 (18:41) Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Nuno: In today's episode, we will be discussing the impact of COVID-19 and the pandemic. Specifically, we will go through an introduction. We are recording this on April 16th so the numbers that we have today, we will also talk about what the future holds. We will be sharing the opinions of several people that we've been reading as well as our own opinions. We will be discussing the core assumptions economically and how the world is supposed to recover from this. We will discuss the longterm impact of COVID-19 in our own view, and how do we expect to be exiting this pandemic? We will talk about the impact to venture capital firms in their own fundraising, in their own operations. We will discuss the impact on startups, how and where they play, their markets, their operating models, the complexities that they're going through. And finally, we will finish with the impact on board of directors and governance in these companies. We will, be splitting this episode into two so that it is more digestible. We will not be talking about the scientific ramifications of COVID-19, we are not experts in that space and therefore we will stay away from those discussions.  Bertrand a difficult start to this episode, it is the end of the world as we know it. The REM song is a little bit happier than this, but in some ways it is the end of the world as we know it. Bertrand: But it is not the end of the world.  Hopefully, we are going  to grow back. It's definitely tough times. As of today, we have more than 2 million cases, confirmed. Close to 150,000 dead. It's really, really, big numbers. It's amazing the change in society that have happened over the past few weeks, few months, since early January, since it was starting from Wuhan in China. Expanded to China, and then expanded step by step to the rest of the world. We saw Europe, we saw US, and many other countries are going to get even more impacted from South America to Africa. It's an event like you have every 50 or 100 years. So, it's a very, specific moment in time and, a surprising timing for us launching our podcast. Nuno? Nuno: It's been an interesting, and by interesting, obviously we can't really minimize the tragedy of what is going on. The stress that is basically affecting all our infrastructure hospitals, food supplies, the effect that we're having in our own lives as people are locked down, they're sheltered in place. So in this episode, although we will talk about a lot of things that we hope to be hopeful about and more positive about, we did want to start  in this more somber note of acknowledging all the deaths and all the people that have been affected dramatically by t...
We demystify a whole lot in this episode of Tech DECIPHERED. We demystify Venture Capital and its nitty gritty decision-making processes and operating models. We demystify Private Equity vs Venture Capital and explain the differences between both. We discuss factors for Start-Up success and demystify entrepreneur “ageism”. Last but not least, we disagree … on the Tesla Cybertruck. Navigation: The other side of the table - Entrepreneurs who become VCs (02:31) Decision-making and the operating model of Venture Capital (05:10) VCs have to make lot of decisions with incomplete information (08:23) Are VCs much less ambitious that PEs? (23:39) Key reasons why start-ups succeed (31:27) What successful second time founders do differently? (43:59) Are older entrepreneurs more successful than younger ones? (56:08) Tesla's new Cyber-truck (59:28) Resources: Andreas Goeldi, What I Didn’t Understand About VCs When I Still Was a Founder - https://bit.ly/3bbf4UU Auren Hoffman, Venture Capitalists are MUCH LESS ambitious than their private equity siblings - https://bit.ly/2V5itin Alex Ponomarev, The Five Reasons Why Startups Succeed, According to a Legendary Investor - https://bit.ly/34wQuLy Feliks Eyser, What Successful Second-Time Founders Do Differently - https://bit.ly/3b86aYn Mark Travers, For Entrepreneurs, 45 Is The New 25 - https://bit.ly/3a3ypWz MotorTrend, Tesla Cybertruck - https://bit.ly/2V6jSoY Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Intro (01:24) Bertrand: Welcome to Tech Deciphered Episode 8.  Hi, Nuno, how are you today? Nuno: Hey, Bertrand, how are you? I'm well. Bertrand: Pretty good, thank you, Nuno.  So, what are we going to discuss today? Nuno: So we're gonna discuss a couple of different areas.  One, we're going to demystify VC: a couple of articles on the venture capital space and we'll agree with some of the points made, we will disagree with others, we'll again go in depth and try to demystify the discussion. Then some other articles on de-mystifying startups and founders in particular, and what it takes to be a successful entrepreneur. And finally we'll talk about gadgets and we'll talk about cars today, which is really, really cool. Bertrand: I know you are very excited. Nuno: I am super excited. We only have one article on cars, but I think we can go on for some time. Bertrand: And which car are we going to talk about?  Nuno: We are going to talk about the cyber truck, that thing that does Tesla announced. And we're going to talk about other stuff that's cooler and what's happening in the space. There was a recent announcement as well, of a couple of new electric cars, and so we'll go a little bit off piste on that one. The other side of the table - Entrepreneurs who become VCs (02:31) So, let's start with our first topic today , and we'll start with this good article, from Andreas Goeldi,  titled "What I Didn't Understand About VCs When I Was Still a Founder". It's great that he's coming with his perspective having been a founder, an entrepreneur, now on the venture capital side, and being able to relate, in a way, more easily, from a founder perspective, entrepreneur perspective what it is to be a VC.  And let's go point by point on this one. So the first point that he makes, I agree actually with all of his points. I think there's some nuances around some of the explanations and rationale that he's giving ...
We launch into why 100 Bn in value just evaporated from “Silicon Valley” and why that is a good thing for private companies and investors going forward. We discuss the rationality of public markets and go into the IPO landscape... B2B vs B2C, as well as hardware vs software. We analyse direct listings and why that may (or may not) matter. Finally, we discuss secret teams at Apple, the controversy around its Activation Lock and Amazon steadily making their role noticed in the Tablet market. Navigation: Silicon Valley bubble bursts? (02:18) Hardware IPOs continue to struggle, but public performance is not always bad (11:53) B2B vs. B2C IPOs (22:49) Direct listings (28:33) Apple’s (not so) secret satellite team (37:32) iFixit controversy (43:17) State of the Tablet market (47:20) Resources: WSJ, Silicon Valley adjusts to new reality as $100B evaporates - https://on.wsj.com/2TRGKYD Top Tier, B2B vs B2C IPOs - http://bit.ly/2INnoxz Tech Crunch, Hardware IPOs continue to struggle - https://tcrn.ch/2IQXZmJ CNBC, NYSE proposes allowing companies to raise fresh capital in direct listings - https://cnb.cx/39TjMWx Bloomberg, Apple Has Secret Team Working on Satellites to Beam Data to Devices - https://bloom.bg/39VjVsy Walt Mossberg, Apple has added the infamous "Activation Lock" to Macs, and it's going to cause tons of perfectly good laptops to go to waste -  http://bit.ly/2wYuGMe iFixit, Apple’s Activation Lock Will Make It Very Difficult to Refurbish Macs - http://bit.ly/33mrCWr Business Wire, Strategy Analytics: Prime Day and Alexa Catapult Amazon to #2 Tablet Spot Globally - https://bwnews.pr/38U1Nyb Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Nuno: Episode 7.  In this episode, we're gonna discuss news around IPOs, initial public offerings, or exits, as we like to call them. We will be talking about , the de-mystification of venture capital and startups. And finally, we'll end up with some gadget news. Bertrand: Excellent Nuno, thank you.  Let's start with IPOs and as you say, sometimes we talk about IPOs and we equate that with exit. I think that might be actually  dangerous to think too much as an exit, at least from an entrepreneur perspective. Yes, from a VC perspective, but from an entrepreneur perspective, it's often a stepping stone, to getting bigger and getting, maybe out of your teenage years, but definitely an exciting time when it happens. Nuno: Correct. And you get to ring bells and do all sorts of funny things that are interesting.  Silicon Valley bubble bursts? (02:18) That said, sometimes reality sets in, which brings us to the first article today, which is the article on Silicon Valley, adjusting to the new reality as a $ 100 Billion evaporates, the Wall Street journal article. This article goes into quite a lot of detail on the significant haircuts that have happened with companies that have IPOed in the last few years. So companies that have lost a lot of value from their initial public offering price,  and also companies that almost IPOed and manage not to IPO and had significant hair cuts in their private market caps, with the case of WeWork being obviously, probably the most discussed one. Bertrand: Exactly. I think today in this article, actually the most value lost has been by private companies moving from one private round to another private round instead of an IPO per se.
We discuss whether you can figure out if your idea is worth 1 Bn or not in advance (spoiler alert: NO), analyse several frameworks that are still useful in that analyses, why not being a lemming makes sense in the investment space, and why founders and CEOs shouldn’t waste time arguing with VCs. We go into the more nit gritty elements of product management and product portfolio management, including what one can learn from dead Google projects. Finally, we go into the new Mac Pro, including its $400 (!!!) wheels, why YouTubers like MKBHD (Fanboy alert) and iJustine matter so much, and finally we nerd out on Graphics APIs… because, well, why not.Navigation:How much is your start-up idea worth? (02:23)Pain vs frequency of use framework (03:26)Howard Marks framework (06:35)Lemming mentality in venture capital (10:27)The case for critical thinking in VC (11:11)Introducing feedback loops in VC (15:28)Pitching VCs - do’s and dont’s (18:01)Product management: agile vs waterfall (24:19)A decade of dead Google projects (32:43)Mac Pro (39:48)Marketing through Youtube celebrities (42:44)Apple’s Metal graphics API (45:05)Resources:Ali Zahid, How to know if your startup idea is worth $1 or $1B - http://bit.ly/2U7UhKLTren Griffin, Andy Rachleff, 2×2 matrix If you’re wrong, you don’t generate attractive returns. If you’re right and consensus returns get arbitraged away. The goal is to be in the lower right quadrant - http://bit.ly/3d1Aoh6Eric Paley, Don't Waste a VC Pitch Arguing - http://bit.ly/2xGvllWHBR, The Kind of Creative Thinking That Fueled WeChat’s Success - http://bit.ly/2QgvTVYThe Verge, What we can learn from a decade of dead Google projects - http://bit.ly/2WgpBcEBloomberg, Apple’s New Mac Pro Can Cost $52,000. That’s Without the $400 Wheels - https://bloom.bg/2QjlcSvFortune, Why YouTubers MKBHD and iJustine Got the First Sneak Peek at the New Mac Pro - http://bit.ly/2WffmFCApple Insider, Editorial: Mac Pro puts the pedal to Metal in Apple's race with Nvidia - http://bit.ly/2U9PtEpOur co-hosts:Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmittNuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Bertrand: Episode 6 of "Tech Deciphered."  How are you, Nuno, today? Nuno: I'm well, although today I'll be very grumpy throughout most of the episode. There's a couple of articles that we'll be discussing that I have some objections to. But overall I'm doing very well. How about yourself, Bertrand? Bertrand: I'm doing good, it's a good day. I'm not sure if I'm as grumpy as you on some of these articles, but we will see, we will see. Nuno: Maybe we'll get to get grumpy at each other as well? Bertrand: Oh, I hope not. So, we have a few articles today we will be talking about: 3 main topics.  One around, how to help you in term of start-up idea: how to evaluate it, how to get a good sense as an entrepreneur, does it make sense?  Talking as well about, product management - high level: what are different types of product management.  And finally, we will talk as usual, we'll have a section around gadgets, and this time we'll have a focus, of course, on the new Mac Pro. How much is your startup idea worth? (02:23) Nuno: Yes. So let's start with VC and startups and we're going to be discussing two articles to start with: one is actually, how to know if your startup ideas worth a dollar or $1 billion. Bertrand: And I prefer a billion, personally. Nuno: I think most people do, but maybe it's difficult to get to a billion,
We go in-depth on the ongoing media streaming wars touching upon Apple, Disney, Netflix, AT&T… and well, we spend a lot of time talking about Disney, our new Media overlord. We discuss whether we are at “Peak TV”, audio streaming and the Marvel Universe and how it changed the global movie landscape for all of us. Throughout this episode, we must warn our listeners that we will also share some strong opinions on specific movies and tv shows… don’t tell us we didn’t warn you! Navigation: Apple TV Plus: why it’s not about what you think it is (01:59) Are we at “Peak TV”? (09:34) AT&T’s new media strategy (16:10) Disney Plus: a new giant of streaming emerges? (21:40) How the Marvel Universe changed the movie arena (33:05) Peak TV and peak Media (41:40) Resources: Bloomberg, Apple TV+ launch - https://bloom.bg/3cZHQsU Hollywood Reporter, Apple TV+ shows getting 2nd season - http://bit.ly/3aZ0W0x Cult of Mac, Apple TV+ pulls in ‘millions of users’ in its first week - http://bit.ly/3b9uVTJ iMore, Apple TV+ analysis predicts initial demand falls behind Netflix's top offerings - http://bit.ly/3d1ds1c Ars Technica, As DirecTV tanks, AT&T says it will “re-bundle” TV with HBO Max - http://bit.ly/2U7oJVg App Annie, Mobile Minute: Disney+ Poised to Shake Up Mobile Streaming Market - http://bit.ly/3b2elVp Seattle Times, Disney Plus hits 10M subscribers in 1 day - http://bit.ly/2QcVjUz What is the Endgame for Disney+ - https://econ.st/2We6rnW Matthew Ball, Marveliad, Cinematic Universes Aren't New; They're the Oldest Stories on Earth - http://bit.ly/3b1piXE Matthew Ball, Disney, IP and returns to "Marginal Affinity" - http://bit.ly/2Wi96wH WSJ, Roku Getting Splashed by Streaming Wars - https://on.wsj.com/2WeOuFH Hollywood Reporter, Studio Chief Summit: All 7 Top Film Executives, One Room, Nothing Off-Limits (and No Easy Answers) - http://bit.ly/3dbG5Jo Hollywood Reporter, Liberty Media CEO Forecasts "Circular Firing Squad" for Hollywood's Streaming Wars - http://bit.ly/3d3j7Ec Matthew Ball, The Mining of Media (or The "Streaming Wars" are Just a Battle) - http://bit.ly/2UdnYtE WSJ, Expect Fewer Big Media Deals Next Decade - https://on.wsj.com/2Qi9lEp Bloomberg, TV Industry Suffers Steepest Drop in Ad Sales Since Recession - https://bloom.bg/2QkucXL Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Nuno: Welcome to episode 5.  Today we'll spend most of our time talking about media: the launch of Apple TV, Disney Plus, and a few other in-depth articles that we've had a chance to take a look at  Bertrand: Hello Nuno, how are you? Nuno: I'm well, how about you Bertrand? Bertrand: I'm doing good, thank you. I'm pretty excited to talk about the media space today. A lot of action in that space in the few months, so glad we find the time to talk about what's happening and what is all this media streaming war all about.  Apple TV Plus: why it's not about what you think it is (01:59) Nuno: So let's start with Apple TV.  So, Apple TV Plus launched November 1st, we have a bunch of articles that we've been talking about for the last few weeks around and interesting. So what are your thoughts early on, on Apple TV Plus?  Bertrand: If you look at Apple TV Plus alone by itself it's not a very interesting service  would be my take, in the sense that what's coming and what's unique from this service in term of unique shows you cannot get anywhere else,
We really get into a discussion on Apple’s, Google’s, Nike’s, Fitbit’s and Garmin’s strategies. We talk about the evolution of Direct-to-Consumer (DTC 2.0), the “Google Squeeze”, and we end up disagreeing a couple of times, although no co-hosts were harmed in the making of this episode. Finally, we talk about the new Macbook Pro (Bertrand is a real fan), Apple’s foray into AR and VR, the new Moto RAZR and the “General Magic” movie. Navigation: Apple’s Vertical integration strategy (01:57) Peak Google or the Google Squeeze (08:49) Nike (really) goes Direct-to-Consumer (15:35) Cracks in Amazon’s Armor (16:06) Fitbit & Garmin in opposite directions (25:37) Macbook Pro (34:30) Apple going into AR/VR (41:17) New foldable Moto RAZR (44:46) General Magic - The Movie (46:47) Resources: Apple Insider, A6: How Apple's custom silicon and iOS optimized each other - http://bit.ly/2Um4bsn WSJ, Nike to Stop Selling Directly to Amazon - https://on.wsj.com/3d76W9x Stratechery, The Google Squeeze - http://bit.ly/2xGnGUJ  Business Insider, Google offer to buy Fitbit - http://bit.ly/2U9FMGg Fortune, Why Garmin’s Shares Are Hitting Record Highs As Rival Fitbit Sinks From View - http://bit.ly/2QeyiAw Daring Fireball, New MacBook Pro 16 - http://bit.ly/3d3qfjZ  Monday Note, Apple AR/VR: Reality Bites Virtual Reality - http://bit.ly/2U1TTgw Yanko Design, 2019 MOTO RAZR foldable phone - http://bit.ly/2UdkZ4q General Magic, The Movie - http://bit.ly/2WcFocF   Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Bertrand: Hello Nuno, how are you today?  Nuno: I am. Well, how are you Bertrand?  Bertrand: Pretty good, pretty good.  Nuno: Today we're going to talk quite a bit about strategy, and how some very significant players Apple, Nike, and Google are thinking through their integration in terms of business model. Also in terms of tech, we're going to leave some of the content discussion to another episode. In particular around some of the movements that Google, Apple, Facebook and others are doing around content, around gaming, et cetera.  Apple Vertical Integration Strategy (01:57) But maybe just start with a really fascinating article around the A6, and on how Apple has really innovated around the system on chip space, and how that really is linked to it's almost dominant position around the operating system stack as well.  Bertrand: Yes, I think there was this fantastic article on Apple Insider talking about how the A6, the Apple CPU that was launched  in 2012 is representative of how Apple works differently from other tech companies. And myself, I remember one of the first time I was surprised by how Apple was working, is when I heard that story about how they cornered, the aluminum  market for laptops: they will buy in advance most of the sources of aluminum to make sure nobody else could make a MacBook . And apparently that story was not just a wake up call for me, but a wake up call for execs at other tech companies, including Microsoft, when suddenly they fully realized what they were up against in term of vertical integration.  I think that the traditional PC space was not about this vertical integration. That's for sure. That was about Intel and Microsoft creating that ecosystem where everyone compete pretty aggressively and the profit goes to Microsoft and Intel at the end of the day. Apple has a different approach. Apple is Apple,
We do an in-depth episode on our “saviour generation” (as Nuno calls them), gen Z: who are they, what do they stand for, what are their aspirations and hopes, why does it matter so much, how entrepreneurial will they be, how will they engage, what products and services will they use - in commerce, social, entertainment, gaming, finance, how to reach and appeal to them.  Navigation: Definition of Gen Z (1:31) Aspirations & Hopes (4:13) Why should we care? (08:57) Openness & Consciousness (10:31)  More or less entrepreneurial? (12:33) Growing up ‘mobile-first’ (16:55) Institutions and political engagement (20:49) What apps do gen Zers use? (23:26) How do they play mobile games? (28:00) What social apps do they use and how? (30:27) What entertainment apps do they consume and how? (32:59) How do they use shopping and financial service apps? (34:25) Gen Z at work and their career development (39:33) How to reach and appeal to Gen Z (47:13) Gen Z - Conclusion (48:37) Resources: App Annie, How To Win Gen Z on Mobile - http://bit.ly/2w8TvVJ Criteo, Gen Z Report Based on the Criteo Shopper Story - http://bit.ly/2IOv0Qr  McKinsey, True Gen: Generation Z and its implications for companies - https://mck.co/39W0noe Morning Consult, Understanding Gen Z  - http://bit.ly/33pbeV1 IBM, What brands should know about Generation Z shoppers - https://ibm.co/33qWXXZ Imagen, Switched on Superfans - http://bit.ly/3aRZahA Deloitte, Understanding Generation Z in the workplace - http://bit.ly/38TT6nx  Google, Gen Z: A Look Inside Its Mobile-First Mindset - http://bit.ly/2TT65BK Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors
We discuss the future of direct to consumer brands and the long awaited reclaiming of end-consumer relationships by the L’Oreals and Philips of the world, and why Nuno won’t do “automatic toothbrush head re-ordering” any time soon. We talk about the importance of chicken (yes, CHICKEN!), why CostCo is locking in its production and the future of food delivery, including dark and cloud kitchens. In gadgets, we talk about the Apple Watch and Amazon Alexa. Navigation: Digitally Native Brands - from Direct to Consumer 1.0 to DTC 2.0 (01:51) The case for product differentiation in DTC (04:11) Innovations in packaging (10:13) Gaining direct relationships with consumers (13:22) Theses in food delivery (16:38) Emergence of dark and cloud kitchens (17:45) Take-out still key in the US (21:52) The importance of the Costco $4.99 Chicken (24:46) Apple leader in smart watch (31:02) After 5 years, why is Alexa barely better? (37:47) Resources:  Frederic Fernandez, FMCG CEOs: 10 Thoughts About The Future Of DTC - http://bit.ly/3cWe88a   Times of India, Cooking food to become as rare as making own clothes - http://bit.ly/2WdndU9, CNN Business, It's only $4.99. But Costco's rotisserie chicken comes at a huge price - https://cnn.it/3aXuls4 9to5Mac, Strategy Analytics: Apple Watch sales grew 51% in Q3, still the ‘clear industry leader’ - http://bit.ly/2QiAmr8  The Verge, After 5 years of Alexa, why isn’it it better - http://bit.ly/2WacdqJ Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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.  FMCG CEOs: 10 Thoughts About The Future Of DTC Subscribe To Our Podcast Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Bertrand: Hi Nuno, how are you today?  Nuno: I am well, and how are you Bertrand ?  Bertrand: I'm doing pretty good, so today we are going to talk about consumer, consumer goods, consumer tech and we have a few topics from consumer goods to food tech. Nuno: Yes, and that will make us hungry. So this is going to be an interesting show at the end of the day.  Digitally native brands - from DTC 1.0 to DTC 2.0 (01:51) Shall we go in? And to the direct to consumer analysis on digitally native brands. This really interesting article, by Frederick Fernandez, which really puts together a lot of research from ABI and a few other sources on the future of DTC, and he has 10 specific thoughts around it. And , to start with a non-controversial part, I think we will find it difficult to disagree tremendously with any of the 10 points. But maybe let's start at the beginning, right? So , let's start with definitions and what it is and what it's not. We're talking about, effectively the direct to consumer or, what we call digitally native brands. So brands that are F in the FMCG space, that are reaching out to consumers in their first instance, through mostly a digitally enabled value chain and also digitally enabled front office in front of the house. So, a lot of interesting analysis around it. I think let's start with sort of the obvious ones, and maybe go to the less obvious ones.  The point that he makes pretty early on is that, what got some of these digitally native brands to be so unique and so advanced, and really to take significant market shares is probably not going to work for the next wave of DTC 2.0. So DTC 1.0 was really focused on price arbitrage, on optimization of marketing, on paid traffic, and effectively there weren't a lot of barriers created there. And , if we're looking at the future of DTC and,
We get Tech DECIPHERED started by discussing the lessons learnt from the grandfather of Silicon Valley Venture Capital and founder of Sequoia Capital, Don Valentine… learn what the Don Valentine jacket was all about.  We go behind the curtain on how the Venture Capital landscape has systematically changed in terms of stages of investment, risk taking and across consumer vs enterprise and software vs hardware … and why VCs have actually benefited from angel investors.  We discuss common pitfalls in pricing your products & services and the importance of gross margin or “If you truly mispriced [your product or service] by 10X, you are probably a dead company or soon to be dead”.  We share our “no bs” views on obvious and less obvious lessons on pitching to a VC firm and, in gadgets, we discuss the death of the Red Phone and the new Airpods Pro. Navigation: Don Valentine’s Passing and his Jacket (01:29) The importance of targeting Big Markets (02:41) Example of a big market: the app Industry (04:16) How big is your market? (06:00) When Silicon Valley gets markets wrong (08:02) The new early stage landscape - from pre-seed to series A (09:31) The Gross Margin Problem (19:47) Non-obvious lessons on pitching (27:34)  Airpods Pro (34:06) Resources: Jeff Morris Jr., Don Valentine, target big markets: http://bit.ly/2Q8cnL9 Pear VC, Navigating The New Seed Landscape: http://bit.ly/2TMoz6G  Craft Ventures, The Gross margin Problem: Lessons for Tech-Enabled Startups: http://bit.ly/2vlLQ6a James Currier, Fundraising is not natural: http://bit.ly/2TMp14S The Verge, Airpods Pro launch: http://bit.ly/39OvOjY  Inverse, Red Phone getting killed: http://bit.ly/2wVEh6k   Our co-hosts: Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmitt Nuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Bertrand: Hi Nuno, how are you?  Nuno: I'm well.  Don Valentine's passing and his jacket (01:29) So today we're going to start with some news, some sad news around venture capital with the passing of Don Valentine, the founder of Sequoia capital, obviously one of the household names in the venture capital community here in the Bay area and around the world. Sequoia capital having become one of the most significant players in the venture capital space.  And Bertrand you actually met Don and Sequoia was an investor in your company? Some words around Don and around Sequoia? Bertrand: Yes, I met him a few years back  at a private Sequoia event where he was, giving his jacket, the Don Valentine jacket to one exec who did a lot for  a Sequoia family portfolio company. Nuno: And what is the Don Valentine jacket?  Bertrand: It's a nice looking colorful jacket, if I remember well . Nuno: Does it have a specific meaning attached to it? Is it like someone that's helped Sequoia or the portfolio company?  Bertrand: I think it's about someone who not only helped a portfolio company, but if I remember well, this person also helped quite a few other Sequoia portfolio companies, was available and open to meet with other fellow entrepreneurs, and that seemed to have been a tradition at Sequoia.  The importance of targeting big markets (02:41) Nuno: In the news we're sharing this week is obviously, one of, his speeches at Stanford graduate school of business, around targeting big markets. You know, obviously there's a lot to be said about big markets. And I think in some ways there's been a lot of emphasis in recent times in particular,
#0 – The Origin Story

#0 – The Origin Story

2020-03-0808:061

A short primer on what to expect of the new Tech Deciphered Show and why you should tune in.Learn more about what Tech Deciphered’s origin story, its format and tone, as well as an introduction and background of the 2 co-hosts: Nuno Goncalves Pedro, investor, co-founder and managing partner of Strive Capital, and Bertrand Schmitt, tech entrepreneur, co-founder & chairman at App Annie.Navigation:Origin Story (1:26)Format (2:55)Tone (3:16)Nuno Bio (3:39)Bertrand Bio (5:14)Our co-hosts:Bertrand Schmitt, Tech Entrepreneur, co-founder and Chairman at App Annie, @bschmittNuno Goncalves Pedro, Investor, co-Founder and Managing Partner of Strive Capital, @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 Full transcription: may contain unintentionally confusing, inaccurate and/or amusing transcription errors Welcome to Episode 0 Origin story  (1:26) Nuno: As it is always the case, there is an origin story to Tech Deciphered. Bertrand and I have had weekly discussions in different forms around the latest news, opinion pieces, and research for some time. We've also taken it to Twitter. As part of those discussions, in many cases, we've gone underneath the surface. And while doing that, we really tried to understand what goes beyond the snapshots that the journalists are portraying. What we are trying to bring is an entrepreneur, an investor view of big tech, VCs and startups, to help understand what's truly happening behind the surface. And it's usually pretty far from the caricatural view you can sometimes get, and both Nuno and I, we have spent quite some time living in Asia, living in the US, we are coming from Europe, and we believe we can have a more global best perspective versus what you usually get here in Silicon Valley. So our objective is to decipher the meaning of these news, to decipher the meanings of these announcements, opinion pieces, and to really bring the no BS view of what's really happening in the world, while adding our own inside knowledge and context that is, we think, very valuable. And also, also being both nerds, we couldn't resist discussing gadgets and sometimes pop culture news. Format (2:55) Bertrand: This is our first season. Typically, every episode will be split into two to four main segments on big tech VCs, and startups, and usually we're ending with gadgets because we love gadgets.  Once in a while we will bring amazing guests on topics they are experts. Tone (3:16) Nuno: Our tone will be a little bit like us. Passionate, irreverent, nerdy. We will be strong, but convey informed opinions. We will always be trying to aim for the truth and that means there will be no BS allowed. We won't be afraid to disagree, but we will be having quite a lot of fun in the process. Nuno Bio (3:39) Nuno: I am your co-host, Nuno Goncalves Pedro, investor, co-founder and managing partner of Strive Capital. I have been in Tech for almost 25 years as a computer engineer, product manager, operator and investor. I have worked in over 35 countries spanning Europe, Asia and North America and have lived in Lisbon, London, Beijing and the San Francisco Bay area.  I am an ex McKinsey senior expert and member of the Asia-Pacific Technology, Media and Telecom leadership team, as well as an operator , including senior roles with the GSM Association. I developed and product managed software products and custom systems at the beginning of my career and some of them are shockingly still in use today.  More importantly, I have been an entrepreneur in Venture Capital, having co-founded Strive Capital and having had senior roles with other VC firms in Silicon Valley. I have been an executive,
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