??Don't You…Forget about VC ?? in the "Late" 6th Edition (Mar '24)

Note: You can get the entire School Bulletin on time by enrolling here.

Welcome to the 6th Edition of Public School Ventures' School Bulletin!

In this month’s ‘Bulletin,’ you will find:

1. Club Recruitment: Why we believe the next digital revolution will be shaped by key operators who, to this point, have been generally ignored to help redefine digitization and scale venture-backed companies’ success.
2. Required Reading: This is a quick plug for two books I couldn’t put down this month, along with a handpicked list of articles that provide insights and strategies critical for navigating the venture capital and tech landscapes. (Full version included in the "late" edition. Enroll in the live version here.)
3. Field Trip Reports - Sharing insights from a panel discussion I participated in for Black History Month and a recap of Season 1 of "Swimming with Allocators," highlighting key discussions on venture funding and investment wisdom. (Not included in the "late" edition. Enroll in the live version here.)
4. Your Final Lecture Note - A quick parting note to always remember.

1. Club Recruitment: Who Are You Really?

As I sit to draft this month's newsletter for Public School Ventures (which next month will be one year old), my mind drifts to those formative school years, much like a scene from a 90s sitcom where every episode imparts a life lesson. Within those classrooms and corridors, where the bell dictated the rhythm of our days, lay the groundwork for what would become Public School Ventures—a nod to an inclusive, diverse environment rich with potential. But you might wonder, "What's the deal with Public School Ventures?"

Why Public School Ventures? A Homage to Learning and Growing Together

My life, influenced by an educator (Mom) and a CS-grad turned pastor (Dad), has always veered toward continuous learning and empowering others. These influences stoked my imagination and underscored the importance of sharing knowledge.

So imagine a Breakfast Club scenario, but instead of detention, it's a diverse gathering of software engineers and GTM specialists, each bringing unique insights from beyond the tech bubble. Like those iconic characters, these professionals are essential in driving innovation across all sectors, especially in the current climate of change and uncertainty. As an LP once told me, "Downturns are opportunities for industries to adapt."

Public schools are melting pots of societal microcosms where diversity fosters enriched learning. Public School Ventures embodies this principle in the venture world, aiming to democratize access to early-stage deals and nurture a community where diverse talents and perspectives catalyze innovation.

Venturing Beyond Traditional Paths: Uncovering Hidden Gems

We seek to build a community to help founders do the hard work in these cornerstone industries. Our original idea was to partner with groups that can drive success in our portfolio companies. We quickly identified two groups that could do that and were rarely asked to invest or advise: software engineers from outside the tech echo chamber and GTM specialists who navigate the complex terrains of sales and marketing.

Software Engineers: Building to Bridge Worlds

The digital era has blurred the lines between industries, heralding every company as a tech entity. A staggering 54% of software engineers work outside the tech industry, underscoring their pivotal role across various sectors. Here are some insights:

• The demand for software developers is projected to grow by 26% over the next decade, reflecting their critical role in our increasingly digital world.
• Key industries hiring software engineers include retail, healthcare, banking/financial services, and government/defense, showcasing the wide-ranging impact of tech skills.
• Retail is revolutionizing e-commerce and logistics, requiring tech expertise for everything from online shopping platforms to payment systems. Companies like Walmart, The Home Depot, Lowe’s Home Improvement, Albertsons Companies, Amazon, Lucid Motors, and PepsiCo are some of the largest employers of software developers.
• Engineers are vital in healthcare for developing diagnostic tools, improving patient experiences, and ensuring cybersecurity. CVS Health, UnitedHealth Group, and McKessen are a few leading the charge in hiring engineers.
• Financial services rely on software engineers to combat fraud, develop apps, and integrate new tech like cryptocurrencies. Capital One, Chase, Wells Fargo, Fidelity Investments, and Citi are hiring many software engineers.
• Tech Insight: "All industries are hiring developers to support or enhance their technology," notes Thomas Vick from Robert Half. Software engineers are at the forefront of transforming business operations, whether digitalization, security, or data migrations.

GTM Specialists: Steering the Market’s Course

GTM professionals are the strategic leaders in a rapidly evolving market landscape, guiding products to market success. Their deep understanding of customer needs and ability to navigate market dynamics is invaluable. Consider these trends:

• GTM teams in 2024 are focusing on increased productivity, requiring fewer but more experienced and well-supported sellers.
• The demand for product marketing skills is rising, emphasizing the need for clear messaging and tight alignment between product, sales, and marketing.
• Customer journeys are becoming more complex, increasing the need for strategic GTM approaches.
• Integrating AI into sales and marketing processes is becoming more prevalent, requiring teams to adapt and innovate.
• Market Insight: Companies aligning their revenue teams see 19% faster growth and 15% higher profitability, illustrating the critical role of effective GTM strategies in achieving business success.

Join the Movement: A Call for Collective Wisdom

Do you know a software wizard transforming healthcare or a GTM strategist reshaping retailtech narratives? We're building a community on Slack to share opportunities, advice, and insights (Let us know here if you are interested). Join us on this collaborative journey to foster innovation across legacy industries.

What's Next? Eyeing the Public Sector Professionals

Stay tuned for our next edition, where we'll explore why public sector professionals are the next frontier for our venture collective. It's about expanding our "Breakfast Club" with more diverse talents, each contributing to a richer, more innovative future.

In the spirit of The Breakfast Club, we sign off not as detention students but as pioneers, ready to redefine success and innovation together. We're not just passing notes; we're rewriting the curriculum for the next generation of leaders and innovators.

Sincerely yours, The Public School Ventures Club

2. Required Reading

The following are a few of my favorite reads this month. As always, if you want to follow the content I’m consuming on all things Venture Capital and tech, check it out here.?

Must-Read Books:

• "Getting There" and "Super Founders" are essential reads. They offer deep insights into the resilience and agility necessary for success in entrepreneurial ventures or venture capital. I recommend these books for anyone at a career crossroads. Trust me, you will be inspired and challenged by them.

3. Field Trip Notes: Extra Credit

4. Your Final Lecture Note: Resilience > Intelligence

Lastly, I have to share a clip that resonated with me last week: "Resilience matters in success.” Remember that.?

With gratitude,

Earnest Sweat, Public School Ventures