Episode 129: Richard Kestenbaum Triangle Capital - Venture Exit, AI and Retail

Gaule's Question Time

This interview between Andrew Gaule (linkedin.com/in/andrew-gaule-aimava) of Aimava and Richard Kestenbaum (https://www.linkedin.com/in/rkestenbaum/) of Triangle Capital covers insights on preparing startups for successful exits and liquidity events through M&A. They discuss how founders should focus on building profitable, high-growth businesses ready for acquisition, rather than purely pursuing valuation and fundraising. Kestenbaum emphasizes focusing on the fundamentals of running a strong business. They also explore the potential impacts of AI on industries like retail, predicting it will enable new business models we can't yet envision. Kestenbaum shares his perspective on navigating innovation in retail, noting cultural resistance and the challenges of implementing new technologies. Overall, he provides valuable advice for startups on positioning themselves for successful acquisitions by focusing on sustainable, long-term fundamentals rather than short-term goals. See Key Topics below.
For a book on corporate innovation and venturing see "Purpose to Performance - Innovative New Value Chains" by Andrew Gaule. ( shorturl.at/dfDTW ) - Includes a chapter on China from the years of travelling in China and taking leading corporates.
You can listen to this interview as a podcast on Gaule's Question Time on Apple, Spotify, Google and many other podcast channels. https://www.podomatic.com/podcasts/gaulesqt
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See this and other video content at Aimava Purpose to Performance Channel - https://www.youtube.com/channel/UCV9o-htFNIk9Yt7jp2XcdWw
5 Key Topics:
Preparing for Exits and Liquidity Events
- Focus on long-term fundamentals and profitability
- Don't get distracted prematurely planning exits
- Build a business ready for acquisition
The Future Impact of AI
- We're only at the very beginning of AI's potential
- AI will enable innovations we can't yet foresee
- Will transform industries like retail, finance, law, etc.
Challenges for Retail Startups
- Overcoming organizational resistance to change
- Developing both tech and marketing capabilities
Blending Online and Offline Retail
- Each channel has unique strengths
- Integration is complex and will take time
- Focus on choosing strategic areas for tech
The State of Physical Retail
- Need experience customers can't replicate online
- Implement tech for better data and service
- Omnichannel is key but difficult to achieve