{"id":15964,"date":"2020-06-30T12:03:34","date_gmt":"2020-06-30T10:03:34","guid":{"rendered":"https:\/\/www.bm-t.de\/2023-en\/bmt-venture-insights-2-20-value-creation-and-value-capture\/"},"modified":"2024-03-08T12:05:31","modified_gmt":"2024-03-08T11:05:31","slug":"bmt-venture-insights-2-20-value-creation-and-value-capture","status":"publish","type":"post","link":"https:\/\/www.bm-t.de\/en\/2020-en\/bmt-venture-insights-2-20-value-creation-and-value-capture\/","title":{"rendered":"bm|t Venture Insights 2\/20: Value Creation and Value Capture"},"content":{"rendered":"
\n

While this model, which is the focus of Reid Hoffmann\u00b4s excel\u00adlent book Blitzs\u00adcal\u00ading, can pro\u00adduce excep\u00adtional win\u00adners, such as Ama\u00adzon or Face\u00adbook, it can also destroy large amounts of invest\u00adment cap\u00adtial when it does not work, such as in the cases of WeWork or per\u00adhaps Uber. Although we real\u00adize the jury is still out on the lat\u00adter exam\u00adple, we believe that this land-grab\u00adbing and heavy-loss-mak\u00ading-in-the-early-years approach is being employed to cre\u00adate value in more mar\u00adkets than actu\u00adally lend them\u00adselves to suc\u00adcess\u00adful value cap\u00adture. At least the mag\u00adni\u00adtude of value cap\u00adture is fre\u00adquently not ade\u00adquate to appro\u00adpri\u00adately com\u00adpen\u00adsate investors for the cap\u00adi\u00adtal deployed and the large risks taken. Actu\u00adally, this that are char\u00adac\u00adter\u00adized by extremely high net\u00adwork effects (Face\u00adbook) or mas\u00adsive invest\u00adment (Ama\u00adzon) which cre\u00adate sus\u00adtain\u00adable bar\u00adri\u00aders to entry.<\/p>\n

In Th\u00fcrin\u00adgen<\/strong>, we do not have suf\u00adfi\u00adcient cap\u00adi\u00adtal to fund such large-spend busi\u00adness mod\u00adels, nor do we have many com\u00adpa\u00adnies which are focused on large-scale B2C oppor\u00adtu\u00adni\u00adties, nor do we have the type and quan\u00adtity of avail\u00adable labor that could pur\u00adsue such mod\u00adels. Instead, due to the highly inno\u00adv\u00ada\u00adtive and dis\u00adci\u00adplined engi\u00adneer\u00ading and tech prowess<\/strong> with which Th\u00fcrin\u00adgen is blessed, we take a dif\u00adfer\u00adent approach that focuses first on the ele\u00adment of value cap\u00adture. We do this by devel\u00adop\u00ading truly ground\u00adbreak\u00ading tech\u00adnolo\u00adgies and pro\u00adtect\u00ading those tech\u00adnolo\u00adgies from direct com\u00adpe\u00adti\u00adtion and sub\u00adse\u00adquently, once the tech\u00adnol\u00adogy is ready to scale, pur\u00adsu\u00ading value cre\u00adation<\/strong> on top of a strong foun\u00adda\u00adtion of highly dif\u00adfer\u00aden\u00adti\u00adated prod\u00aducts and solutions.<\/p>\n

His\u00adtor\u00adi\u00adcally, the value cre\u00adation part of the equa\u00adtion was an area of weak\u00adness for our region; how\u00adever, over the last decade com\u00adpa\u00adnies here have become more adept at pack\u00adag\u00ading their tech\u00adno\u00adlog\u00adi\u00adcal break\u00adthroughs into attrac\u00adtive and eas\u00adily con\u00adsum\u00adable prod\u00aducts and solu\u00adtions and com\u00admer\u00adcial\u00adiz\u00ading on increas\u00adingly larger scales. In fact, we strongly believe com\u00adpa\u00adnies in Th\u00fcrin\u00adgen are gen\u00ader\u00adally well posi\u00adtioned<\/strong> to pro\u00adduce excel\u00adlent cor\u00adpo\u00adrate results and invest\u00adment returns<\/strong> in the years ahead as our world-class, break\u00adthrough tech\u00adnol\u00adogy increas\u00adingly seam\u00adlessly acesses the global economy.<\/p>\n<\/div>\n

At bm|t, we believe that investors can gen\u00ader\u00adate attrac\u00adtive returns pur\u00adsu\u00ading either model (focus\u00ading first on value cre\u00adation or focus\u00ading first on value cap\u00adture), but they must not com\u00admit the car\u00addi\u00adnal sin of employ\u00ading the wrong approach for the spe\u00adcific com\u00adpany<\/strong> and mar\u00adket oppor\u00adtu\u00adnity being pur\u00adsued. We know which approach gen\u00ader\u00adally works well for com\u00adpa\u00adnies in Th\u00fcrin\u00adgen and feel extremely for\u00adtu\u00adnate to have nearly 60 Investee-Part\u00adners which are work\u00ading on or already pos\u00adsess rev\u00ado\u00adlu\u00adtion\u00adary tech\u00adnolo\u00adgies and are bring\u00ading those tech\u00adnolo\u00adgies ever more suc\u00adcess\u00adfully to mar\u00adket, cre\u00adat\u00ading great value and returns.<\/p>\n

Your bm|t Team<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

While this model, which is the focus of Reid Hoffmann\u00b4s excel\u00adlent book Blitzs\u00adcal\u00ading, can pro\u00adduce excep\u00adtional win\u00adners, such as Ama\u00adzon or Face\u00adbook, it can also destroy large amounts of invest\u00adment cap\u00adtial when it does not work, such as in the cases of WeWork or per\u00adhaps Uber. Although we real\u00adize the jury is still out on [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":15567,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[149,250],"tags":[253],"class_list":["post-15964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2020-en","category-insights","tag-insights-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/posts\/15964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/comments?post=15964"}],"version-history":[{"count":0,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/posts\/15964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/media\/15567"}],"wp:attachment":[{"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/media?parent=15964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/categories?post=15964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bm-t.de\/en\/wp-json\/wp\/v2\/tags?post=15964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}