#017 - Andrius Sutas - Exiting Fintech To Construction Tech & Solving Contractual Issues On Site
What happens when someone decides to automate contracts that were once (and probably still are!) delivered through shipping containers and cranes?
Yes, this is a true story...
Today we welcome Andrius Sutas of Simple Construction Software.
In this episode we deep dive into:
Andrius' story from exited founder to his new venture
ToDo's and not to-do's in the construction tech and start-up world
Why buzzwords suck
Why small steps win over giant leaps
If you’re enjoying our podcast, please leave us a review! This helps us get more amazing guests to give you guys the best and most informative content on technology in the built world.
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Andrius Sutas:
Founder & CEO Simple Construction Software | Co-Author The Founder Handbook | Founded AimBrain (exited to BioCatch) | Forbes 30 under 30
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Today's Sponsor:
@Beta
Construction and technology network platform - connecting the tech industry with traditional partners.
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00:00:00 --> 00:01:39 - Intro
00:01:39 --> 00:02:20 - Sponsor
00:02:20 --> 00:03:55 - History of Andrius Sutas
00:03:55 --> 00:07:32 - Forbes 30 and under 30
00:04:55 --> 00:07:32 - Background about AimBrain
00:07:32 --> 00:08:26 - Is Aimbrain the foundation of Simple Construction Software
00:08:26 --> 00:15:09 - Simple Construction Software
00:15:09 --> 00:15:35 - Does Simple Construction Software use blockchain?
00:15:35 --> 00:18:11 - A related new area that could be tackled?
00:18:11 --> 00:20:24 - The Founder Handbook
00:20:24 --> 00:21:21 - Time management
00:21:21 --> 00:23:37 - Are mentors important? What qualities should they have?
00:23:37 --> 00:27:12 - Are having experiences founding members in a startup important?
00:27:12 --> 00:29:05 - Is the fintech industry smarter than the construction industry?
00:29:05 --> 00:30:13 - Which industry is most exciting in the future
00:30:13 --> 00:32:34 - AI, Machine learning, Deep learning and general AI
00:32:34 --> 00:39:21 - To Do's and Not To Do's for starting a business
00:39:21 --> 00:42:06 - Hobby of Andrius
00:42:06 --> 00:42:26 - More about Andrius
00:42:26 --> 00:42:44 - Outros
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Check out the links in the comments
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Bricks & Bytes
#012 - Ben Richards - Entrepreneurship in construction
If you want to hear a story how Ben went from poker player to founding successful architectural practice and cofounding two other construction businesses - look no further.
In this episode we speak with Ben Richards of Aura Architecture, architectural practice.
Ben talks about his journey of setting up traditional construction businesses. He explains his approach to risk taking in business and also how he is disrupting "measured surveys" industry with his latest venture XP Surveys.
We hope you enjoy the podcast.
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Bricks & Bytes
#016 - Elie AlChaer - How to transition into construction tech & AI driven bot assistant
Do you have a full time job in traditional construction industry and thinking about moving into construction tech? Join us as we speak with Elie AlChaer.
Elie is also a product manager in Slate Technologies and is focused on bot assistants driven by machine learning.
Please see the link to the research article "Engineering Productivity Measurement: A Novel Approach" mentioned by Elie in the episode: https://ascelibrary.org/doi/abs/10.1061/%28ASCE%29CO.1943-7862.0001875
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Bricks & Bytes
Skanska Reveals - Why Construction Companies Have 300+ Software Tools But Still Can't Get Work Done
"One construction project required 18 different software tools just for daily operations - and that's considered normal in our industry."In today's episode of Bricks and Bytes, we had Michael and Danielle from Skanska and we got to learn about the brutal reality of construction tech adoption, why VCs keep backing the wrong startups, and how pricing models are completely broken for the industry... and many more!Tune in to find out about:✅ Why construction companies are drowning in software but starving for solutions✅ The real reason progress tracking tools cost a dollar per square foot✅ How AI hype is following the exact same pattern as the cloud revolution✅ What startup founders get completely wrong about enterprise sales in constructionThese insights from two innovation leaders at a global construction company will change how you think about construction tech.Listen now on Spotify and discover why the industry needs fewer tools, not more.------------------Our Sponsor: Archdesk - “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.io4M Analytics - Instant, reliable utility data you can trust and verify - https://www.4manalytics.com/--------------Chapters00:00 Intro02:48 Introduction to Emerging Technologies in Construction06:27 Navigating Software Complexity in Construction12:45 Trends and Innovations in Construction Tech15:06 Geographical Hubs of Innovation16:48 Partnerships with Startups and Compliance Challenges20:36 Adapting to Rapid Technological Changes22:49 Success Stories from Pilot Programs27:14 Defining Emerging Technology and KPIs31:06 Sources and Filtering for New Technologies33:38 The Role of AI in Construction Tech36:06 The Hype Cycle of AI and Big Data38:04 In-House Development and Proprietary Solutions39:07 Advancements in Safety Technology41:10 Challenges with Autonomous Robotics43:01 Evaluating Technology: Frustrations and Complexities48:11 Pricing Models and Industry Friction53:50 Building Partnerships with Startups57:42 Future of Construction Technology1:02:31 Emerging Technologies in Construction
AI, Low-Carbon Cement, and the Missing Science VCs: Hidden Pitfalls in Construction Tech Investing
Venture capital flooding into AI startups, but are we overlooking the real breakthroughs in construction materials?
In this episode of Bricks, Bucks and Bytes, we explored Findable, a Norwegian startup transforming building documentation, which raised €9 million in Series A funding.
We discussed Holcim's investment in Sublime Systems' innovative low-carbon cement technology, sparking a conversation about sustainable building materials.
Also, we delved into a VC's perspective on the challenges faced by startups valued between $50-200 million in revenue but struggling to find exit opportunities.
Tune in to find out about:
✅ The potential and challenges of AI-driven document management in real estate
✅ Why scientific breakthroughs in building materials can't be rushed with capital
✅ The importance of distribution advantages in AI-powered construction tech
✅ The complexities of valuation and exit strategies for mid-sized startups
Listen to the full episode on Spotify to gain valuable insights into construction tech, venture capital, and sustainable building materials.
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Bricks, Buck$ And Bytes
Enscape's Journey From Idea To Exit - Moritz Luck, Co-Founder & CEO
From garage startup to major exit: The Enscape story
In this episode, we had Moritz, co-founder of Enscape, and we got to learn about his journey from a university project to a game-changing 3D rendering software... and many more!
Tune in to find out about:
✅ How Enscape evolved from a VR treadmill idea to revolutionizing architectural visualization
✅ Why focusing on customer happiness trumps optimizing for investor metrics
✅ The power of community-driven marketing in the AEC industry
✅ The future of AI in rendering and its impact on existing tools
Listen now on Spotify to hear Moritz's insights on building a successful startup, navigating acquisitions, and the future of design technology.
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Company Mentioned:
Enscape
Chaos
Autodesk
Lumion
Twinmotion
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Timestamps
00:00 Introduction and Guest Introduction
03:02 The Evolution of Enscape
06:07 Understanding Rendering in Architecture
09:01 The Role of Rendering in the Design Process
12:01 Enscape's Position in the Rendering Market
15:02 Innovations and Challenges in Rendering Technology
18:00 The Journey of Enscape: From Founding to Exit
20:59 Acquisition Insights and Market Dynamics
23:55 Customer-Centric Approach to Business
26:54 The Future of Rendering and AI Integration
29:59 The Design Stack: Merging Tools and Technologies
32:59 Community and Distribution Strategies
35:48 Final Thoughts and Future Directions
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Bricks, Buck$ And Bytes
Can Small Modular Nuclear Reactors Solve Big Energy Problem? - Last Energy's $40M Bet on Energy Independence
Nuclear power's comeback? Last Energy raises $40M for micro modular reactors
In this episode of Bricks, Bucks and Bytes, we got to learn about Last Energy's $40 million Series B funding for developing 20 MWe micro modular nuclear power plants.
We also explored how nuclear energy fits into the broader energy landscape, including its role in providing baseload power for data centers.
Additionally, we delved into venture capital fund economics and the challenges of generating returns for large funds.
Tune in to find out about:
✅ The potential for modular nuclear reactors in energy independence
✅ How nuclear power complements other energy sources on the grid
✅ Why fund size impacts venture capital returns
✅ The bifurcation of VC into large platforms and specialized early-stage funds
Listen to the full episode on Spotify to hear on the future of energy and venture capital.
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Company Mentioned:
- Last Energy
- Sequoia
- Andreessen Horowitz
- Tiger Global
- Revolut
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Timestamps
00:00 Welcome Back and Episode Recap
02:25 Exploring Nuclear Power and Last Energy
12:47 The Future of Nuclear Energy in the West
19:24 Regulatory Challenges and Market Demand for Nuclear
24:46 Understanding Baseload Energy and Its Importance
29:27 Venture Capital Insights and Market Dynamics
44:19 The Economics of Fund Sizes and Return
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Bricks, Buck$ And Bytes
New Scheduling Tools, US Startups High Failure Rate, & How Supply-Side Focus is Reshaping Tech Companies
Is the traditional construction scheduling software about to become obsolete?
In this episode of Bricks, Bucks and Bytes, we discussed Planera's fresh take on construction scheduling, which just secured $13.5M in Series A funding.
We also explored the surprising uptick in US startup failures and what it reveals about the current market.
Additionally, we delved into the potential shift from demand-focused to supply-focused business models in tech.
Tune in to discover:
✅ How Planera aims to simplify complex construction scheduling
✅ Why more startups are failing, but it might not be all bad news
✅ The rising importance of vertical integration in tech companies
✅ How emerging markets are driving innovation in B2B platforms
Want to stay ahead in construction tech and startup trends? Listen now on Spotify.
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Company Mentioned:
Planera
Oracle (specifically their Primavera P6 software)
OpenAI
Microsoft
Uber
Meta (formerly Facebook)
SpaceX
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Timestamps:
02:12 Planera: Innovating Construction Scheduling and Planning
06:42 The Challenges of Traditional Scheduling Tools in Construction 0
9:01 The High Failure Rate of Startups: A Natural Evolution
24:07 The Role of AI in Startups and the Construction Industry
30:01 The Shift towards Collaborative and Visual Solutions in Construction
31:15 The Dominance of the US Startup Market
32:39 The High Failure Rate in US Startups
33:54 Profitability of European Venture Funds
41:30 The Shift Towards Vertical Integration and B2B Marketplaces