Visionary Investor | Paul Bassat | Business & Purpose #15

10 snips

Jul 27, 2023

Paul Bassat, co-founder of SEEK and Square Peg Capital, discusses his impactful journey in entrepreneurship and investment. He shares insights on the evolution of mental health awareness and the importance of treating it like any medical condition. Diving into his venture capital approach, Paul emphasizes the significance of founder-centric investing and the Australian startup ecosystem. He also reflects on generational changes in values, the synergy of profit and purpose, and the need for innovation amidst social challenges facing young men today.

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ANECDOTE

Family Roots And Quiet Resilience

Paul Bassat grew up in a close Melbourne family with parents in their mid-80s and strong values.
His mother was a Holocaust survivor whose experience informed gratitude but did not dominate their household.

ANECDOTE

Seek's Origin In Classified Frustration

Seek began from noticing frustration with newspaper classifieds and an idea for online listings in 1997.
The real estate idea morphed into a jobs marketplace and Seek launched in November 1997.

ANECDOTE

First Placement Email, Then A Reality Check

Early Seek highs included a user email saying she'd found a job through the site within a week of launch.
Shortly after, a recruiter complained of poor results, punching the founders back to reality and teaching resilience.

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Paul Bassat: Visionary Investor & Business Founder

Want to become a shareholder of STUFF? Find out more here - https://www.birchal.com/company/stuff

In this episode of “Real STUFF”, Hunter chats with one of Australia’s most prominent investors and business people, Paul Bassat.

Paul’s background is quite extraordinary and ranges from Co-Founder of one of Australia’s most successful online businesses ever, SEEK Limited, the biggest employment platform in the country which became an ASX top 100 listed company with a market cap of $4Bn, to being a commissioner of the AFL, to a board member of Wesfarmers, to being Co-Founder of Square Peg Capital – one of the most effective and successful VC firms in the country – holding more than $2.5bn under management.

Achievements aside, Paul is kind, genuine and full of energy and he and his family have been amazing supporters of STUFF and The Man Cave. Hunter is grateful to Paul for carving out the time to come on the Real STUFF podcast while travelling in Israel.

Hunter and Paul discuss a range of topics, from intergenerational trauma and post-traumatic growth, to managing mental health while being under immense pressure. Paul reflects on the generational shift in mental health awareness, and the power of being open and treating mental health like any other medical issue one might face.

The conversation moves onto business, with Paul elaborating on his role as a Venture Capitalist with Square Peg, and the strength of the startup ecosystem in Australia. Paul shares his enthusiasm for interacting with the next generation of Aussie Founders, and the shift towards a desire for businesses that are strongly linked to purpose, demonstrating innovative ways to tackle the broader challenges we face as a global community.

Paul’s outlook is optimistic - which is both refreshing and contagious - and this podcast is a great listen for those who are seeking an inspiring view of what’s possible when good ideas, good people and entrepreneurial rigour combine.

Discover more about Paul and Square Peg Capital at https://www.squarepegcap.com/people/paul-bassat

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