In this episode, Felix Neubeck (Playfair) breaks down why most VCs get deep tech wrong, how commoditisation curves kill “breakthrough” startups, and why policy not venture decides industrial winners.

From quantum and fusion to defence and manufacturing, this is a sharp, no-BS look at where the West is heading next.

Timestamps:

00:00 Intro – Why Deep Tech Is Back

02:45 Generalists vs Specialists: Who Wins in Deep Tech?

06:30 The Myth: “There Isn’t Enough Capital”

10:15 Why Technology Picking Is So Hard

14:20 One Shot at Goal: Selling to Concentrated Markets

17:05 The Danger of Ignoring Commoditisation Curves

20:10 How to Actually Diligence Deep Tech

24:00 Backing Teams vs Backing Technology

27:50 Venture vs Policy: Who Should Fund Sovereignty?

31:30 Defence, Government & VC Alignment

34:00 Europe’s Manufacturing Identity Crisis

38:45 Has China Overtaken the West?

46:20 Contrarian Conviction: Life Is Endless Struggles

49:15 What Truly Moves Felix Emotionally

Find Felix Neubeck online at:

LinkedIn: https://www.linkedin.com/in/fneubeck/

Twitter: https://x.com/FelixNeubeck

Playfair: http://www.playfair.vc

This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B.

Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/

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