Why Startups Shouldn’t All Be Pitched As ‘Tech Companies’

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 30 October 2019

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest episode of Exchanges at Goldman Sachs was recorded at the firm’s recent 2019 Builders + Innovators Summit, which convened nearly one hundred entrepreneurs from various industries to share their stories and learn from one another. Host Jake Siewert was joined by Investment Banking Division co-head Gregg Lemkau, as well as Brynn Putnam, founder of fitness startup Mirror, and Ryan Petersen of the logistics company Flexport. The group discussed today’s environment for entrepreneurship as well as the highs and lows of startup life. “The future of entrepreneurship is exciting,” Lemkau said. “And just being around people like [Putnam and Petersen], who started their own businesses, and the passion you feel for what they’re trying to build. I think the ability to start a business and scale it, given where technology is now, is phenomenal and only growing.”

Transcript

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0:00.0	This is Exchanges of Goldman Sachs when we discuss developments currently shaping markets, industries
0:13.2	in the global economy.
0:14.4	I'm Jake Stewart, and I run corporate communications here at Goldman.
0:18.7	So today we're at the Goldman Sachs Builders and Innovators Conference in Santa Barbara.
0:22.7	This is a conference where we pulled together 100
0:25.2	intriguing entrepreneurs from all across the country
0:28.5	and around the world.
0:29.7	And today we're going to be joined by two of those entrepreneurs and also Greg Lemkow
0:34.8	our co-head of Investment Banking.
0:37.1	Brin Putnam is here and she's the founder and CEO of Mira, a fitness startup and
0:42.2	Ryan Peterson is here, he's the founder and CEO of Flexport, which is a logistics company.
0:48.0	So thank you all for joining us.
0:50.0	Great to be here.
0:51.0	So, Greg, give us a little context around kind of the state of entrepreneurship.
0:55.8	You've been coming to this conference for a long time and been helping bank entrepreneurs for even longer.
1:01.1	What's the environment like right now for startups and for funding? for of the environment for entrepreneurship which is hugely energizing a bunch of great
1:13.0	ideas and it's been interesting to see the exchange amongst the entrepreneurs about what they're doing
1:16.9	across so many different categories. I think the state of entrepreneurship generally is quite exciting right now.
1:22.0	The public equity markets and the private
1:23.9	equity markets are so focused on growth and attracting growth and
1:26.7	they're looking for new businesses and new business ideas and new categories that have
1:30.2	been developed and so to be able to be here and talk to the various people
	...

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