In the early 2000s, Silicon Valley saw massive growth as a largely unregulated internet allowed for a “move fast and break things” era of innovation. Billions were made by taking legacy businesses and digitizing them, while startups faced minimal compliance and overhead costs in a period of laissez-faire legislation. Globalization encouraged founders to frame their company as eventually serving every nation on earth. National security concerns were largely an afterthought.
All that has changed.
There are many terms thrown out in the venture world like SaaS, workflow solutions, productivity tools, analytics suites, data orchestrations, and smart integrations. Here are 5 key factors that drive our scorecard when we evaluate a new venture in software.
Just as the internet only became practically usable for millions after the advent of modern web browsers and graphical user interfaces, many synthetic data tools and consumer-facing use cases may only see widespread adoption once an easy to use workflow solution is implemented.
Productivity tools will allow power companies to shift skilled labor away from mundane tasks. Faster and better inspections will allow companies to maintain higher run times and mitigate tail risk. Localized assets like the standby generator in your home and smart thermostats will work in tandem with advanced modeling to reduce blackouts during times of peak demand and reduced supply. And behind it all will be numerous artificial intelligence platforms.
A good venture partner should be a collaborative advisor and sounding board, helping founders sort through the various strategic paths as the company grows. And good founders should know how to leverage their VC’s knowledge and experience while still being a decisive leader.
