Construction companies are posting "impossible" growth numbers while tech giants can't spend their billions. What's really happening?
In this episode of Bricks, Bucks & Bytes, Owen, Dustin, and Patric dive deep into the shocking stories reshaping the construction industry, plus a special guest appearance from construction tech veteran Dex who just raised $3 million to solve the industry's biggest crisis.
What we cover:
Turner Construction's mind-blowing 44% revenue growth (and why it's "impossible")
The Figma IPO scandal that cost early investors millions
Why Meta can't spend $150 billion even though they want to
Construction's $20 billion labor shortage crisis
Why 85% of AI projects fail (and the patterns that actually work)
Energy bottlenecks blocking massive infrastructure spending
Dex's new startup Propel People tackling the skilled worker shortage
Key Quote: "This is highway robbery for the existing investors... they just lost a ton of value." - Patric on the Figma IPO controversy
From billion-dollar construction wins to IPO disasters, energy grid meltdowns to recruiting revolutions - this episode reveals the hidden forces driving massive changes across the industry. Whether you're in AEC, tech, or just curious about where the economy is heading, these insights will change how you see the business world.
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Chapters
00:00 Intro
01:00 Origins of 'Okay' and Its Cultural Significance
03:40 Turner's Impressive Growth in Construction
06:21 Diversification and Strategic Partnerships in Construction
09:23 Turner's Expansion into European Markets
12:14 Figma's IPO and Market Dynamics
15:01 Valuation Challenges and Investor Sentiment
18:16 Banking Practices and IPO Pricing Strategies
25:21 The State of AI in Enterprises
29:16 Challenges of Pilot Programs
30:53 Historical Insights on Project Failures
35:00 Ensuring Technology Adoption
41:43 Energy Infrastructure Bottlenecks
47:36 Introduction to Propel People
52:13 Building a Recruiting Platform for Construction
56:24 Sourcing Talent in the Construction Industry
58:18 Evolution of Technology in Construction
60:11 The Role of Social Media in Recruitment
63:04 Founder-Led Sales and Market Insights
67:05 Setting Foundations for Success in Startups
