This Week in Startups E36: “Angel” Podcast: Ajay Agarwal, Partner at Bain Capital shares insights on culture evolving from sales-driven to product-driven, why enterprise software is the ideal business, best investments & anti-portfolio
Mar 4, 2020
Ajay Agarwal, Partner at Bain Capital, shares his expertise in venture investment within enterprise software. He discusses the evolution from sales-driven to product-driven company culture, emphasizing the potential profitability of software. The conversation veers into the challenges of capitalism and declining social mobility, and Ajay highlights his successful investments, such as FourKites, while lamenting missed opportunities like Pinterest. The dialogue also touches on the transformative power of entrepreneurship and the critical importance of gross margin in the software industry.
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Late-Stage Capitalism and Upward Mobility
- Late-stage capitalism, a term suggesting capitalism's decline, is debated.
- Despite free online education, upward mobility is hindered by lack of motivation, not access.
Education and Family Dynamics
- Ajay Agarwal's parents prioritized education, investing time despite limited resources.
- Many families today struggle with single parenthood and overwork, hindering at-home learning.
Entrepreneurial Beginnings
- Agarwal's college advisor encouraged real-world experience over grades.
- This led to meeting Joe Lemont, who introduced him to enterprise software's potential.