Practical Nerds

Practical Nerds

By Patric HellermannTechnology
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Practical Nerds episodes

  • 020⎢Five bold predictions for Constru-Tech in 2024⎢Data is greater than AI⎢One mega acquisition⎢Robots beat migrant ed-tech⎢Building energy renovation⎢India to US corridor for AEC-founders

    This week:

    • Data > AI: Data infrastructure and databases for AEC gain faster adoption than AI tools built on top, as firms still lack data foundations
    • One mega acquisition: Legacy AEC software vendors will acquire modern SaaS design platforms that pose existential threats, gaining next-gen capabilities
    • Robotics > migrant ed-tech: Construction robotics firms automating repetitive low-fidelity trades will scale faster than educating migrant workforces facing policy declines
    • Building energy renovation hits another inflection: Europe's home energy renovations will accelerate further as solar subsidies fall, grid costs climb, and governments maintain and increase renovation incentives
    • India to US corridor becomes dominant for Constru-Tech: Indo-American hybrid construction tech startups will proliferate, benefiting from strong funding, talent pools and construction growth across both regions

      • This week's episode makes bold predictions across architecture, engineering and construction for 2024. It sees data pipelines and infrastructure gaining rapid traction as firms still lack adequate data systems for effective AI. Legacy vendors will feel threatened by new entrants, acquiring one key competitor for modern web capabilities and platform business models. Construction robotics adoption will outpace workforce education facing anti-immigration policies. Europe's building renovation wave will hit another inflection as energy prices increase while renovation incentives stay. And Indian-American collaborations among investors, founders and dual-market services firms will dramatically proliferate. Tune in for expert perspectives on these 2024 predictions and the market shifts underlying each.

      51 min
    • 019⎢Behind the scenes war stories: Where Constru-Tech met unethical behaviors over the years⎢And why we passed

      This week has some behind the scenes war stories:

      • Questionable behaviors in Constru-Tech deals that Patric and Shub have seen over the years, and led them to pass on those deals
      • Founders botching revenue recognition and other cases of book-cooking
      • Founders setting up hidden corporate structures which could lead to personal gains
      • VC's blocking deals and making deals for personal enrichment at expense of the startup or their partners
      • Straight up, Board members charged with bribery accusations


        • Patric and Shub discuss hidden stories of questionable behaviors that have led investors to walk away from deals in the construction tech sector. Examples include a botched funding round due to problematic revenue recognition, a VC blocking an outside investment in one company to force a quid pro quo investment in another company they partially owned, vague accusations of "book cooking" by a prominent founder's past investors, a founder secretly enriching themselves through an offshore subsidiary, bribery accusations against a board member, and sibling VCs scheming to promote one of themselves through a shaky deal. These stories demonstrate issues around greed, self-enrichment, abuse of power, and deception that can undermine deals even at the last minute. The podcast covers ways founders can safeguard their companies and partnerships to avoid these pitfalls.

        58 min
      • 018⎢Snaptrude's $14M Series-A⎢How new technologies unlock big challengers to the 3D/CAD incumbents⎢Why the community plays a big role in changing the AEC design stack

        This week:

        • Snaptrude's $14M raise for 3D AEC design
        • New technologies are enabling next-gen platforms
        • Why the time for challenging legacy 3D/CAD incumbents has never been better
        • Leveraging community, open source and multiplayer unlocks new distribution forms
        • Software spend per 3D user will double in the next years


          • This episode explores the major shifts happening in construction tech and AEC software. We discuss Snaptrude's recent $14 million Series A raise to build a "Figma for 3D AEC" led by Foundamental and Accel, and how they aim to bring real-time collaboration to 3D design.


          We also examine the frustrations with legacy construction tech vendors and their closed-off, desktop-centric tools. However, new startups have an opportunity to disrupt them by utilizing cloud, APIs, multiplayer, browser and better optimization for concurrency.


          3D design startups in architecture, engineering and construction (AEC) can gain an edge through community building and embracing open source, compared to the incumbent's historical top-down approach. And workforce shrinkage means construction firms will double their software spend per user as they automate more workflows. New technologies are enabling the creation of next-gen construction platforms.

          52 min
        • 017⎢The AI-procurement-agent opportunity in construction supply chains⎢How VC processes (in AEC-Tech) work and vary⎢Why diligence with strategic can be misleading for VC's in AEC

          This week:

          • AI procurement agents in construction, and why construction supply chains are perfect for it
          • Raising capital from generalists vs specialists (and from Foundamental specifically)
          • Why diligence that heavily relies on strategics can be very mis-leading


            • This week Patric and Shubhankar discuss the potential for AI "procurement agents" to streamline purchasing for construction companies. They compare raising capital from generalist investors versus specialists focused on construction tech, explaining how their diligence process and priorities differ. The episode wraps up with them sharing what they are looking forward to in the coming week, including a new opportunity in timber/lumber and an exciting 3D reconstruction software company.

            58 min
          • 016⎢Why construction firms are increasing their software budgets⎢Why that is counter-cyclical to other sectors⎢AI applications emerging in Constru-Tech

            This week's main topic:

            • Construction firms increasing software budgets despite cuts in other sectors
            • Utilization and margins driving need for process improvements and new software
            • Construction projects provide flexibility to trial software on select projects
            • Supply chain and working capital financing software of interest right now

              • We also chat about:

              • AI applications emerging in construction tech deals; use cases matter for defensibility
              • (Tech) conferences often echo chambers with little ROI; why small, focused events prove useful
                • 31 min
              • 015⎢Fundamental shifts in construction⎢The state of Constru-Tech VC funding in Q4-2023⎢17 Constru-Tech Unicorns

                This week:

                • Several fundamental shifts for founders and venture investors in the construction markets
                • Why solving for a shortage transformers, cables and power infrastructure is a billion-dollar opportunity in AEC
                • The state of Constru-Tech VC funding per Q4-2023
                • How Constru-Tech outperforms the total venture market since 2021 by 3x, and why constru-Tech hubs grow faster outside USA
                • Sneak peek at upcoming analysis of the 17 Constru-Tech Unicorns across the globe
                  • 39 min
                • 014⎢Rayon: The future multiplayer design software stack⎢2D vs. 3D⎢BIM lite and CAD light⎢The future design software stack

                  This week with Bastien Dolla, co-founder at Rayon (https://www.rayon.design)

                  • How Rayon changes the space-design game for millions of designers, architects, office managers, facility managers, event planners, contractors and many others
                  • In what ways multiplayer, concurrency and github-like solutions are becoming the default in the future 2D/3D design stack
                  • Why incumbent tools are having a tough time to switch their legacy stack over to a multiplayer solution with object-level versioning
                  • What in Rayon's founders' backgrounds led them to create Rayon
                  • How "right-fidelity" is key to crack the millions of design professionals that are under-served by incumbent tools
                  • Why BIM-lite / CAD-lite is the next big thing
                    • 59 min

                  About Practical Nerds

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                  The latest in venture and technology in the real world, from construction-tech to design-tech. Two early-stage investors shooting the breeze about startups, founders and venture funding. We talk about…