00:42:16 · S2, Charlie Gearside
[00:42:16] S2: With with this kind of new voice of Australia and, you know, this kind of the Gearside channel, what do you think are the inputs we need or the inputs you've kind of thought about of something that can have widespread interest and kind of get broad enough to make, you know, the impact that you desire, plus also say concentrated in, like, almost elevating Australians. Like, of your first, you know, videos was around how equity works in startups and how that can be a path to wealth. Yeah. [00:42:43] S0: I think it's about, like, people... Where young people are in a position where it's like, you have to, like, look after yourself first. So this, like, self actualization is step one. Who cares about how the country's going if I can't afford a house? I can't I can't even pay rent in the suburb that I wanna live. Right? So, like, it's... The... Step one is definitely, how can I achieve some sort of wealth for myself and my family and be able, you know, be able to have a family? And then we can sort of move up... Move further up and worry about bigger and bigger [00:43:20] S2: issues. Entrepreneurship is that path to wealth? [00:43:24] S0: Yeah. So entrepreneurship or working at a company that produces value, that creates value. And so that... You know, not everyone should be an entrepreneur. Far from it. But there are so many jobs out there of companies that are actually producing value. It's like the, you know, there was that fake jobs thing a few years ago. Do you remember that in the media where it's like, a lot of people have jobs that shouldn't really exist.
00:43:24 · Charlie Gearside, S2, Adam Miller
[00:43:24] S0: Yeah. So entrepreneurship or working at a company that produces value, that creates value. And so that... You know, not everyone should be an entrepreneur. Far from it. But there are so many jobs out there of companies that are actually producing value. It's like the, you know, there was that fake jobs thing a few years ago. Do you remember that in the media where it's like, a lot of people have jobs that shouldn't really exist. [00:43:53] S2: Mhmm. [00:43:53] S0: Right? But it's almost like the next the next step of the fake jobs... Understanding whether people have fake jobs is, like, whether people have jobs that are actually, like, accretive to society. So it's like, we've got so many smart people working in finance, and they're, like, you know, like, finding ways to, like, save com... CommBank, like, couple... A 100,000,000 a year or something like that. Like, they're not actually doing things that move the needle at all, and they're getting paid well for it. How can we put those people into things that create a lot more, like, value for everyone? Oh, yeah. A lot more prosperity for everyone. So it's not just, like, young people coming through, but it's how do we redirect people from, like, ineffective sort of spaces. Mhmm. [00:44:39] S1: Yeah. Is this always gonna be a problem? Because we just touched on the best founders, like, moving to SF, there's quite a quantity of them. Like, if we want those people to go away from finance to tech, like, we're just gonna need to build more companies here. Right?
00:44:39 · Adam Miller, Charlie Gearside, S2
[00:44:39] S1: Yeah. Is this always gonna be a problem? Because we just touched on the best founders, like, moving to SF, there's quite a quantity of them. Like, if we want those people to go away from finance to tech, like, we're just gonna need to build more companies here. Right? [00:44:50] S0: Yeah. Yeah. We are. But I think we... I think, like, that's happening. A lot of people say, oh, there's... You know, I think cynical people say, oh, there's the same amount of quality companies and, like, there's a lot more, like, shitty companies. I don't I don't buy that. I think it scales pretty linearly. [00:45:06] S2: And, [00:45:08] S0: yeah. We just need to, like, increase the number of companies coming through.
00:45:14 · S2
[00:45:14] S2: Yeah. I think there's increased number of companies coming through, but there's this important gap for education around what creates avenger scalable outcome, how to actually, like, sell properly, how to do all these kinds of things. And, like, there there was a book released recently about, like, how to fundraise, which a lot of people... It's pretty one zero one, but a lot of people have got a lot of value from. And I think Harvey's booked? Yeah. And I think there's there's an education gap in the market. Like, you can say, oh, like, education is freely available or not, but, you know, I think all three of us are industry insiders, and there's things you hear in the industry inside that really help your journey. And, you know, I think Americans are more open about democratizing that knowledge quite easily. You go to any SF party, someone will help you and tell you something, and they'll introduce you to four people that could help you. And then, you know, there's this there's this openness of... Which we were really surprised about in America. You think culturally Australia would have that more Yeah. But there's not as much. There is with with insiders, but I think there's still this knowledge that's trapped inside. And then as it gets born and brought out, hopefully, we have more companies that VCs think of can produce venture scalable companies. Hopefully, we have more people that are, you know, messaging the Aesop in a right way, messaging the fact that, hey. This is actually a path to it to a to a degree of wealth. And that, you know, thirdly, that we have people that can then... When they go to US and they go to all these places, they can, you know, sell and and and kind of message in the right way.
00:46:43 · Charlie Gearside, Adam Miller
[00:46:43] S0: Totally. Yeah. I think that's so true about ESOP and just, like, how the actual... This idea of owning parts of companies works. Like Yeah. The average person just has no idea. Yeah. But even, like, a step further, like, if if I hadn't worked at Koala, which is, a d to c company, but for all intents and purposes intents and purposes, a start up Yeah. Like like, I wouldn't have never I would have never started a company. Because I had to, like, say that, like, hey. Starting a company is hard, but it's like... It's not impossible. Like, these are the things you need to do. And making sure we maximize the number of opportunities people have to actually, like... Like, do you guys remember the moment you decided, hey, we're actually, like... I mean Yeah. You were in VC. Yeah. Like, what was the moment for you, Adam, where you're like, okay, I can see that starting companies within my reach? [00:47:38] S1: Yeah. Like, I think we had a lot of sort of collective belief about it, and we were trying to nut out the details. And we had this... The pathway was literally we were gonna move overseas. That's what it was gonna be. We always wanted to do something together. Sachin was at Airtree, I [00:47:53] S0: was at Deloitte. Yeah. We're about
00:47:53 · Charlie Gearside, Adam Miller, S2
[00:47:53] S0: was at Deloitte. Yeah. We're about [00:47:54] S1: to either move to The UK or The US, and it's like, if we start something together, it's probably gonna be... You know, it might not even happen because it might be 30, you might live overseas. And it's like, is now actually time? And that's what we'll that's what the thought was. And it was like, for some reason, we just, I'm glad we have this collective belief to do it at a time that felt really young. [00:48:13] S2: But there there was doubt and there was this pushing the can down the road. Right? And we probably had the... One of the highest rates of, like, advantage in in studying company and the fact that we've had all these people on our show. They've started companies, and I worked in VC, and all of our friends have started companies, etcetera. We've done angel investing. They'll steal this out. So I can't imagine what it's like for [00:48:34] S0: you overheating person. Exactly. Crazy. [00:48:37] S1: Yeah. There's just like... I think there's all these funny fears and risks you think that exist, but they don't really exist. Like, looking back at it, I'm like, a 100 times out of a 100, we should have, like, started that company. There should have been no doubt. Like, all the difficulties that would have arisen, like, they arise for most people. Like, I would tell almost, like, most young people, it depends, but, like, start that company you're thinking of starting.