Automation Outside the Tech Bubble | Jason Kong | Run the Numbers

Jason Kong, General Partner at Base10 Ventures, discusses automation for the real economy, focusing on investments in non-tech industries. He argues that while much venture capital has been directed towards tech building for tech, significant opportunities lie in automating traditionally non-tech sectors, which constitute a large portion of the GDP. Kong highlights the importance of defensibility and durability of cash flows, favoring companies that demonstrate provable ROI and invest based on EBITDA rather than venture capital. He also touches on Base10's unique model of donating 50% of their profits to scholarships for underrepresented students, emphasizing purpose as key to profits and community success.

Outlines

Part 1: Background, Philosophy, and Mission

Part 2: Investment Strategy and Market Analysis

Part 3: Sector Focus and Practical Applications

Part 4: Career Advice and Future Outlook

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Automation Outside the Tech Bubble | Jason Kong

Run the Numbers

Part 1: Background, Philosophy, and Mission

Fantasy Football as a Training Ground for Investing and Term Sheet Negotiations

Base10 Ventures' Focus: Automation for the Real Economy and Global Productivity Gains

Vertical SaaS, Workflow Automation, and the Durability of Cash Flows

Overcoming the $15 Million ARR Plateau: Expanding Beyond Tech Echo Chambers

Base10's Commitment: Purpose-Driven Investing and Scholarships for Underrepresented Students

Part 2: Investment Strategy and Market Analysis

Thematic Investing Like a Hedge Fund: Identifying Overlooked Alpha in Vertical Software

Hedge Fund Thinking: Finding Great Businesses Ahead of Consensus and at Great Prices

Series B at Base10: Investing in B2B Software Businesses Outside the Bay Area

The Evolving State of Series B: Early-Stage Bets and the Return of 2021-Style Capital

The Breadbox for Traditional Series B: ARR, Growth Rate, and Valuation Disconnects

Part 3: Sector Focus and Practical Applications

Back Office Automation: ERP Integrations and Systems of Action

Fantasy Football as Investment Training: Opposing Viewpoints and Dynasty Leagues

Part 4: Career Advice and Future Outlook

Career Advice: The Shortest Path and Leaning into Fear

Venture Capital Realities: Incentives, Returns, and the Next Generation of Builders

Automation Outside the Tech Bubble | Jason Kong

Run the Numbers

Part 1: Background, Philosophy, and Mission

00:00Fantasy Football as a Training Ground for Investing and Term Sheet Negotiations

Fantasy Football as a Training Ground for Investing and Term Sheet Negotiations

01:18Base10 Ventures' Focus: Automation for the Real Economy and Global Productivity Gains

Base10 Ventures' Focus: Automation for the Real Economy and Global Productivity Gains

09:19Vertical SaaS, Workflow Automation, and the Durability of Cash Flows

Vertical SaaS, Workflow Automation, and the Durability of Cash Flows

11:35Overcoming the $15 Million ARR Plateau: Expanding Beyond Tech Echo Chambers

Overcoming the $15 Million ARR Plateau: Expanding Beyond Tech Echo Chambers

18:50Base10's Commitment: Purpose-Driven Investing and Scholarships for Underrepresented Students

Base10's Commitment: Purpose-Driven Investing and Scholarships for Underrepresented Students

Part 2: Investment Strategy and Market Analysis

23:30Thematic Investing Like a Hedge Fund: Identifying Overlooked Alpha in Vertical Software

Thematic Investing Like a Hedge Fund: Identifying Overlooked Alpha in Vertical Software

28:31Hedge Fund Thinking: Finding Great Businesses Ahead of Consensus and at Great Prices

Hedge Fund Thinking: Finding Great Businesses Ahead of Consensus and at Great Prices

34:31Series B at Base10: Investing in B2B Software Businesses Outside the Bay Area

Series B at Base10: Investing in B2B Software Businesses Outside the Bay Area

36:46The Evolving State of Series B: Early-Stage Bets and the Return of 2021-Style Capital

The Evolving State of Series B: Early-Stage Bets and the Return of 2021-Style Capital

40:44The Breadbox for Traditional Series B: ARR, Growth Rate, and Valuation Disconnects

The Breadbox for Traditional Series B: ARR, Growth Rate, and Valuation Disconnects

Part 3: Sector Focus and Practical Applications

44:36Back Office Automation: ERP Integrations and Systems of Action

Back Office Automation: ERP Integrations and Systems of Action

48:49Fantasy Football as Investment Training: Opposing Viewpoints and Dynasty Leagues

Fantasy Football as Investment Training: Opposing Viewpoints and Dynasty Leagues

Part 4: Career Advice and Future Outlook

52:05Career Advice: The Shortest Path and Leaning into Fear

Career Advice: The Shortest Path and Leaning into Fear

54:55Venture Capital Realities: Incentives, Returns, and the Next Generation of Builders

Venture Capital Realities: Incentives, Returns, and the Next Generation of Builders