No idea about a transcript or recording, sorry. Unfortunately there wasn't an opportunity to ask questions though I should have crash tackled him and asked as I was sitting a few metres from him. From memory, I think it was for the simple fact that the super funds were designed to provide retirement funds, and high risk investment opportunities are just that...high risk. Never mind the fact Macquarie is a limited partner in Silicon Valley venture firms, and I'm sure many others are. Though that said, venture firms in the US perform poorly, and even the good ones are barely pulling their weight compared to other investment classes.
Before we cry it's the governments fault for not unlocking these funds, we should appreciate the entire venture industry in Australia is performing at a level that is disappointing where it doesn't make sense to risk our pension funds. I still maintain that capital or no capital, Australia will only have a thriving industry if we have global companies, and that's why building such a tight integration with America's economy is the best strategy yet. The exit market in Australia is too small both for trade sales and the stock market. As a case in point, if Atassian was to ever IPO (the next Aussie company most likely to hit the blocks), they'd get a 1x multiple on the ASX but a 10x multiple in the US...and yet if they list, people will cry they are being un-Australian.
Paul Wallbank <mailto:paulwallb...@gmail.com> October 21, 2012 3:36 PMHi Elias, it would have been interesting to push Beazley on the reasoning behind this. Is there a transcript or recording of that event?Regards, Paul Wallbank Decoding the New Economy .Writer .Broadcaster .Speaker Suite 236, 4 Young Street, Neutral Bay, NSW 2089 p...@paulwallbank.com <mailto:p...@paulwallbank.com> www.paulwallbank.com <http://www.paulwallbank.com> 0415 967 017 --You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for moreForum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en Elias Bizannes <mailto:elias.bizan...@gmail.com> October 21, 2012 3:28 PMAdvance (the semi-goverment expat Aussie networking organisation) hosted a Summit earlier this year when Kim Beazley was a guest speaker. He brought this topic up and said how the decision to limit investment from super funds into things like startups, was intentional. And that it was a non-negotiable. Would love to better understand this.Separately, I've had discussions with my old boss George Zachary about how the $1.4 trillion dollars slushing around in the Super funds (the fourth largest pension pool in the world) could be what unleases a gold rush for Australia's technology industry, much akin to how the freed convicts of present day Australia went to California in the 1850s only to come back and unleash a gold rush in Australia a decade later. He agreed with my assessment.Paul Wallbank <mailto:paulwallb...@gmail.com> October 21, 2012 2:19 PMWhen I was working on the Digital Economy programs for the NSW Government one of the questions that kept coming up "why won't super funds funds invest in startups?'Now I'm doing a bit of freelance writing I thought I'd explore this a bit further, and one of the results is this article in Technology Spectator.http://www-1.eurekareport.com.au/bs.nsf/Article/Superannuation-start-ups-innovation-investment-pd20121010-YWVQN?OpenDocumentIt's a fairly complicated topic which I couldn't do justice to in 700 words but the article's a reasonable summary of the issues.Particularly interesting is how some in the funds management community are looking how to adapt the JORC rules which tamed the notoriously shady mineral exploration industry in the 1980s to the start up sector. This assumes the start up community has the same kind of rogues that infest the mining sector and that investors needed to be protected from the resulting scams.What are your views on this? Should startups look for funding from superannuation funds or is it too hard when other funding channels exist?--You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for moreForum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
-- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
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