Tribe Talkin' Ep 30: Hope You Suffer! Emerging VC's Fear Big Super? Unicorn Deputy. Capital Raise Roundup. Stone & Chalk Deficit. Elaine Stead To Main Sequence. WiseTech Making Staff Rich.

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Tribe Global Ventures

Investing, Business:investing, Business, Entrepreneurship

5 • 1 Ratings

🗓️ 20 March 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Tribe Talkin': Financial Services Minister Stephen Jones has vowed to crack down on companies seeking to circumvent laws designed to 'staple' workers to a single superannuation fund during employee onboarding programs. (Capital Brief Anthony Galloway) Emerging venture capital managers have raised concerns about the influence super funds have gained over the local startup ecosystem. (Capital Brief Bronwen Clune) Australian workforce management software maker Deputy has cracked the billion-dollar valuation milestone, the first private technology “unicorn” company to emerge since the tech funding market soured in early 2022. (AFR: Tess Bennett). Seven Aussie startups that raised $11.8 million this week. (SmartCompany: Eloise Keating). Invoice payments startup Marmalade raises $16m. (Capital Brief: Prashant Mehra) Alumni of climate tech startup accelerator EnergyLab raised a record $289 million in 2023, with Australian-based startups accounting for $124 million of that total. (Business News Australia) Predictive intelligence marketing tech Prophet raises $5m in seed round backed by Catalano. (Business News Australia: Matt Ogg) Hola Health greets a new chapter in telehealth with $4.5m pre-Series A raise. (Business News Australia: Matt Ogg) Do the best deals have no "fanfare"? Sam Jacobs Jensen Huang hopes you suffer! Stone and Chalk touts resilience despite $7m loss. (Capital Brief: John Buckley and Bronwen Clune) Spacecubed and CORE Innvoation Hub Elaine Stead joins Main Sequence. (Capital Brief: Bronwen Clune) Of its 3300 employees, 85 per cent own WiseTech shares thanks to an employee share scheme. (AFR: Yolanda Redrup) For the first time in at least 5 years, there were more total job departures from companies on Carta than there were total new hires. Public Market & Macro Charts [email protected]

Transcript

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0:00.0	So we kicked off today going back to Employment Hero and what's happening there with the
0:13.0	Host Plus submission because the government has actually come out with their own position.
0:18.0	So that was interesting.
0:19.0	Yeah and then that led into a conversation around the flow of funds from super funds into the space
0:23.7	and how some emerging VCs were a bit fearful of the influence of those super funds
0:29.0	and the big checks that they're writing.
0:30.6	Yeah, and then we segued across to talk about an Australian workforce management software deputy,
0:35.9	which is the first unicorn in two years.
0:38.7	They're great to see. We then did a roundup of a whole lot of capital raises, but holy moly,
0:43.9	there's a lot of money flowing out. So I think we must have spoken about 10 or 12 different
0:47.9	companies from a range of articles. And then we'd segue into a post that discuss whether or not
0:53.9	the best deals are the ones that have the
0:55.8	least fan there and take the least amount of time. Which then took us into Jensen, CEO of
1:01.6	NVIDIA, was interviewed and he said, I hope you suffer. Now, he wasn't that aggressive. We unpacked
1:06.7	suffering and expectation and ambition and our views on that. I love that piece and that led into
1:13.6	the need for resilience at Stone and Chalk at the moment given that they just announced a $7 million
1:18.8	loss. And then the news that came out yesterday that Elaine Stead has taken a role with main
1:24.1	sequence ventures, which is awesome news and congratulations to Elaine, but also congratulations to main sequence ventures. is awesome news and congratulations to Elaine but also congratulations to main sequence ventures Richard White from
1:30.2	Weistech and an article out talking about how 85% of Weistak employees own shares
1:35.9	totaling 320 million and we talk about equity as a tool especially in the face of
1:41.2	some data that's come out from Carter where startup head growth
1:45.0	has actually started to go negative for the first time in many years and it's going negative
	...

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