Getting increasingly frustrated with some Australian VCs.

I keep hearing from Australian founders that Australian VCs keep pushing them to prop up industry incumbents through B2B SaaS when their real goal is (and should be) to disrupt legacy players with a product led, radically improved, direct to customer competitor.

There is room for B2B SaaS. There is also profound opportunity in full stack, B2C disruption.

Canva didn’t build a tool for agencies. Netflix didn’t build a DVD rental management CRM for blockbuster. Uber didn’t build dispatch software for Taxi.

There’s a reason for that.

If you’re a “VC” that doesn’t understand how this works - please delete your account.

Thinking of making a list.

Founders: Please tell these VCs they’re wrong (directly) and walk out of the meeting. Instead, focus on product and product led growth, hit and maintain 20% MoM growth as fast as possible, consider raising from multiple strategics/angels that understand how their legacy parent companies won’t change, and go international (for both users and investors) ASAP.