Founder Mode, SuperSaaS, Tech & Global Progress, CBDCs, US Immigration, and The Future of Open Source AI hosted by Dan Bowyer

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Founder Mode, SuperSaaS, Tech & Global Progress, CBDCs, US Immigration, and The Future of Open Source AI hosted by Dan Bowyer

Sep 06, 2024

Welcome to a new episode of the EUVC podcast, where our good friends Dan Bowyer and Mads Jensen from SuperSeed cover recent news and movements in the European tech landscape 💬

Here are the core take-aways:

SuperSaaS by SuperSeed

What it is: An initiative by SuperSeed, the SuperSaaS event serves as a one-day condensed accelerator designed to connect startups with major corporates to streamline the processes of building, selling, and raising capital.
Why it matters: The event underscores the crucial realization that despite their seemingly rigid structures, large corporations are actively seeking innovative solutions from agile startups. Key insights from the event emphasized the importance of relationship-building and strategic communication. With communication's effectiveness primarily determined by tonality (38%) and body language (55%), rather than just content (7%), startups are learning to refine their pitches to resonate more effectively with potential corporate partners.

Tech's Role in Global Progress

What it is:

Why it matters: The infographics, drawing from a comprehensive analysis, clearly depict a world progressively alleviating poverty, enhancing education, and improving health outcomes, with technology as a central catalyst. For instance, the number of people living in extreme poverty has dramatically decreased from 21 out of 100 in 1820 to only 9 in 2021, while basic education and literacy rates have soared. Vaccination rates have also surged, leading to a drastic reduction in child mortality. These visuals not only counter the narrative of global decline but provide a concrete representation of how technology has been instrumental in these achievements. However, the slower progress in spreading democracy underscores the limits and challenges where technological influence is less directly impactful.

International AI Regulation: A Step Towards Global Alignment

What it is: The US, EU, and UK have signed the Council of Europe's convention on AI, a legally binding international treaty focused on AI regulation.

Why it matters: As AI becomes increasingly powerful and pervasive, regulation becomes necessary to ensure responsible development and use. While this treaty sets a foundation for international cooperation, questions remain about its effectiveness, particularly regarding enforcement and the competitive implications for countries not bound by these rules. The discussion highlights the need to balance innovation with ethical considerations and global competitiveness.

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Paul Graham’s Founder mode vs. Manager mode.

Why it matters: The distinction between "founder mode" and "manager mode" in startup leadership represents two divergent approaches to scaling and guiding a company. "Founder mode" involves founders taking a hands-on, deeply involved approach to running their businesses, while "manager mode" advocates for hiring skilled individuals and allowing them autonomy in their roles.

Why it matters: This leadership dynamic is crucial for startups navigating the delicate balance of rapid growth and operational stability. Founders who remain actively engaged in all aspects of the business can drive innovation and adapt quickly to market changes, maintaining a direct line of influence over the company’s core activities. However, as startups scale, the need for specialized knowledge and delegation becomes critical. Effective management, characterized by empowering skilled professionals to lead, can enhance productivity and foster a more sustainable business structure. For venture capitalists and stakeholders, recognizing which mode a founder is operating in provides insight into the company's operational maturity and long-term viability, informing strategic decisions and investment considerations.

Immigration's Impact on the U.S. Labor Market

What it is: Since 2020, the U.S. has experienced its largest immigration wave in generations.

Why it matters: The US has experienced its largest immigration wave in generations since 2020, reshaping its labor force. The conversation examines the economic implications and potential lessons for European markets facing demographic challenges. This trend has substantial economic implications for both the U.S. and Europe, offering insights into the complex relationship between immigration, economic growth, and productivity.

Is the future of Ai open source?

What it is: WSJ thinks OpenAi is under threat from competition.

Why it matters: As tech giants consider significant investments in OpenAI, the discussion turns to the potential of open-source AI models. The increasing competition in the AI space raises questions about the sustainability of closed ecosystems and the role of open collaboration in driving innovation.

The future of AI is likely to involve a complex interplay between open and closed models, with factors like energy infrastructure, regulation, and global competition playing crucial roles in shaping the landscape. The potential for rapid advancement and increasing autonomy in AI systems underscores the importance of collaborative, transparent development approaches, which could favor open-source models in the long term.

Digital Euro Could Reshape European Financial Landscape

What it is: The European Central Bank is planning to launch a digital euro, a central bank digital currency (CBDC) that would complement, not replace, physical cash.

Why it matters: The initiative may have a transformative effect on the European financial landscape. The implementation of this digital currency could lower transaction costs and offer a more secure alternative to deposits at commercial banks. There's anticipation for significant impacts on the banking and payments industry, with a pivotal update expected in Q4 2024 that could decide the project's future trajectory.

This development suggests that VCs should closely monitor CBDC advancements, considering their potential impact on fintech investments, payment systems, and the broader financial ecosystem. The contrasting effects on European and American payment companies also hint at possible shifts in the global financial technology landscape.

Nvidia's Market Position and AI's Energy Challenge

What it is: Nvidia's dominant position in the AI chip market, coupled with the broader implications of AI's energy requirements.

Why it matters: Nvidia's projected revenue growth from $16 billion four years ago to $120 billion in 2024 underscores its dominant position in the AI chip market. This growth reflects the increasing demand for AI technologies and Nvidia's key role in supplying the necessary hardware. However, the energy consumption associated with these technologies poses significant sustainability challenges. The shift towards renewable energy sources like solar and wind is seen as a viable solution to support this growth sustainably, aligning with global efforts towards achieving a net-zero energy paradigm. This balance between technological advancement and environmental responsibility is crucial for the long-term viability of AI-driven industries.

Upcoming Comprehensive Portfolio Modelling Masterclass in London with Marc Penkala

📅 24th October ⏰ 10:00 AM - 1:00 PM BST at Isomer Capital | 👨‍👩‍👧‍👦 Only 15 seats

This exclusive in-person masterclass integrates three key aspects of Venture Capital Fund Modelling: Fundamentals, Assumptions Sheet Construction and Portfolio Construction & Decomposition.

Led by Marc Penkala, Co-Founding Partner of āltitude and advisor to multiple European Family offices and VCs, this masterclass will be delivered in a small-group setting with just 15 seats available, providing rich opportunity to discuss, exchange perspectives and do hands-on work with the provided material and resources.

Tailored to emerging GPs and established fund managers, as well as family offices and senior CVC employees, the masterclass will cover:

Fund Modelling Fundamentals - Begin with a thorough introduction to the core elements of VC fund modelling, including fund structure, capital allocation, and the impact of management fees and carried interest on fund economics.
Assumptions Sheet Construction - Engage in a practical, hands-on session where you will learn to build and refine an assumptions sheet. This part of the workshop focuses on how these assumptions drive the fund’s performance and the strategic decision-making process.
Portfolio Construction and Decomposition - Delve deeper into strategic fund composition, exploring techniques for initial portfolio setup, follow-on investment strategies, and the intricate process of decomposing investments to assess and enhance fund performance.

General Admission Ticket (€500)

Community member ticket (€250)

Want to unlock the community ticket? Join here 💖

🧠 Upcoming advanced EUVC masterclasses

Advanced small-group sessions that take you from good to great. Lectured by leading GPs, LPs & Experts.

VC Portfolio Management: Capital Deployment and Reserve Planning
📅 Tue, September 24 | 4:00 PM - 6:00 PM CET | Lecturer: Anubhav Srivastava, Tactyc

Venture Debt: Structuring & Deal Terms
📅 Tue, October 8 | 11:00 AM - 1:00 PM CET | Lecturer: Hemal Fraser‑Rawal, General Partner at White Star Capital

Benchmarking Session for GPs & LPs
📅 TBD - preregistration open now | Lecturer: To be announced 🤫

Got ideas or requests for future topics to cover? Let us know here.

📺 Virtual events coming up

GP Roundtable: Leveraging AI in Portfolio Monitoring & Management
📆 Mon, Sep 9, 2024, 3:00 PM - 4:00 PM (CET) | Register here

This roundtable is a must for GPs looking to get an edge using AI. By tapping into AI-driven analytics and predictive modeling, VCs can unlock hidden trends and streamline their operations. Plus, tackling early risk assessment can save portfolios from tanking 💥. It's about staying ahead in a cutthroat world.