In this episode of Track Record, Albert Azis-Clauson speaks with Emily Turner, CEO of HSBC Innovation Banking UK.
Emily explains why every founder needs to develop five areas of their company: the product, customer, team, investor, and business model. As each develops at a different speed, founders should focus their attention on whichever is moving most slowly.
The conversation explores how AI could give service businesses software-like economics, and why Emily is looking at companies outside London.
Key Moments:
00:00 Introduction
01:42 The state of venture and innovation
04:44 Why global investors are backing UK companies
08:01 AI, deep tech, and commercialisation
11:14 The five areas every founder must develop
15:00 Founder factories and the value of experience
20:04 How venture economics are changing
27:02 How venture funds create returns
29:29 Choosing the right investors
32:24 Pensions, debt, and secondary liquidity
34:11 Where capital has yet to reach
37:06 How AI helps companies focus
38:31 Can service businesses achieve software economics?
42:58 Why early-stage investing comes down to people
44:22 Problem obsession and complementary founders
47:13 Equity, incentives, and employee liquidity
48:41 Why Emily would invest outside London
50:09 Next on Track Record
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