Christopher Schroeder on the Venn Diagram between the private & the public sector, unleashing entrepreneurial talent and US leadership in tech

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On this episode Pat sits down with the one and only Christopher Schroeder, author, investor, operator and advisor of startups in emerging markets. He has worn many heads during his stellar career amongst them CEO and President of Washington Post's online presence , founder of HealthCentral and President of Legi-Slate as well as senior policy positions.

Tl.dr:

• Intersecting Domains for Growth: There is a significant interplay between politics, policy, business, and technology, which calls for cross-sector collaboration to stimulate economic growth and innovation.
• Fintech as a Catalyst: Governments need to adopt a proactive stance in supporting tech entrepreneurship, the strides made in financial services in markets like Brazil and Indonesia serve as strong examples.
• Artificial Intelligence and Regulatory Challenges: Countries like the UAE could rise as tech innovators, emphasizing the need for a global dialogue that incorporates diverse perspectives beyond Western-centric views.
• MENA's Dichotomy of Progress and Struggle: Being a region of both triumph and adversity, it is crucial for the leadership to create conducive environments that unleash local talent and moving away against innovation-suppressing policies.

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Navigating the Nexus of Politics, Policy, and Business

Christopher Schroeder's journey from public policy in the late 1980s to entrepreneurship and investment is a testament to his versatile expertise. He's been at the forefront, from serving in leading public policy positions during George Bush's administration to being the CEO of LegiSlate and later moving to The Washington Post Online presence as a CEO and Publisher.?

Emerging Markets: A Canvas for Technological Innovation

Christopher offers an intriguing perspective on emerging markets and their technological growth, emphasizing the role of entrepreneurship in shaping economies beyond Silicon Valley.?

"I just fell in love with this concept that if everyone has a supercomputer in their pocket... Why would it not be that way?"?

In his book "Startups Rising", he sheds light on the entrepreneurial revolution in the Middle East, showcasing his deep understanding and believe in the power of technology to transform economies.?

"I've always had a strong view that the Venn diagram between politics, policy, business, and technology is massive... It's about how individuals can build things that have impact."

Christopher's eclectic career spans various sectors, offering a unique perspective on the intersection of politics, policy, and business. This triangle is also where he sees the necessity for collaboration for economic growth and innovation.?

Further, the investor highlights the innovative strides in fintech, particularly in emerging markets. He argues for more proactive and understanding government roles in supporting entrepreneurship. Citing examples from Brazil and Indonesia, he points out:?

“Innovative governments... lean forward saying, fintech is a winner for everybody.”

A Paradigm Shift in Tech Perception and Power Dynamics

Touching upon the rapid advancement of AI and its implications, as governments grapple with the pace of innovation, Christopher gives a glimpse into the potential and perils of premature AI regulation.

"AI is a case study that puts everything on steroids and a tremendous amount of uncertainty."

While the US and China are at the forefront, he suggests that other players like the UAE could emerge as significant innovators due to their unique positioning and approach.

"There's a different kind of a conversation, a different kind of understanding that...will continue to play a very big player.”?

As we consider how Western innovation is perceived globally, Christopher's experience underline the importance of understanding local contexts and challenges. The future of technology is not just about Silicon Valley; it's about co-authoring solutions with diverse global voices.?

Crucial Choices for MENA

MENA stands as a region of contrasts, with stories of triumph and tales of challenges. Christopher shares his insights into the dichotomy of progress and struggle within the entrepreneurial landscape.

"The Middle East is also a story of our times. It's a tale of what happens when talent is either unleashed or squashed by the macro environment."?

With the right conditions, this talent can now be unleashed to access markets of significant size, creating unprecedented opportunities for growth and innovation.

Following, Christopher highlights the delicate interplay between micro entrepreneurial spirit and the overarching macroeconomic and political climates. While entrepreneurs navigate the intricacies of launching and scaling businesses, the broader environment can significantly impact their trajectory.?

He calls for visionary leadership to unlock this potential and cautions against stifling innovation, which could prompt a “brain drain” in search of more favorable conditions.

The Liquidity Challenge in Emerging Markets

Discussing his global investment activities, Christopher reveals his strategy for managing deal flow across continents. He emphasizes the importance of local partnerships and the unique global perspective he offers, fueled by diverse pattern recognition across markets.

"I will never have the depth that is required to really understand the market the way any local person has... I bring... pattern recognition among sectors from around the world."?

Tackling the critical issue of liquidity in emerging markets, Christopher points out the disparity in exit opportunities compared to mature markets, suggesting that a track record of successful exits will attract more investment and enhance the ecosystem's vitality.

"Capital has choice... Once we have not one MercadoLibre, but 10, you can bet capital is going to start flowing. But the problem is getting to that point, getting the flywheel going."?

Unearthing Gems in Entrepreneurship

Asked about his approach to choosing founders and companies to invest in, Christopher discusses the significance of thorough reference checking and its surprising neglect in the industry.

"I want people of character... I'm a very, very thorough reference checker. Integrity and character are everything."

For Christopher, he stresses the vital importance of persistence in entrepreneurs, highlighting the balance between steadfast focus and the agility to pivot based on market feedback.

"They can be slowed down, but they just cannot be stopped... They're persistent with the flexibility and the humility to pivot when necessary."?

He prefers to align with those who are building for longevity rather than quick exits, nurturing enterprises destined to endure.

"I'm building a company for the ages... I want serious people who want to help me build a serious enterprise for the ages."?

Similar episodes you might enjoy

Pedro Conrade (Neon) dreaming up the future of financial services in Brazil, when is it the right time to introduce new products and lessons learned from 5 acquisitions

Fersen Lambranho (GP Investments) on what makes a great CEO, looking back onto 30 years of investing and differences between PE in Brazil vs. US

Tackling poverty through financial inclusion - Monica Brand Engel (Quona) on the intersection of profit and purpose, measuring impact and managing boards

Francisco Alvarez-Demalde (Riverwood Capital) on board dynamics, keeping the bar high in founder selection & the importance of human capital in building a generational fund

Dive into the full episode on:

?? Spotify

?? Apple Podcasts

?? All others

If you haven’t yet subscribed, join?the?+1,600 Enthusiasts?via Substack, Medium, or LinkedIn and follow the show wherever you are getting your podcasts. If you enjoy the work we are doing, drop us a review or rating on your preferred podcast app.