We spoke with a CEO from Silicon Valley and one from Australia to understand what they are building and the advantages and disadvantages of each ecosystem.

In today’s email:

• Matterport CEO RJ Pittman: Silicon Valley’s comeback and how AI changes everything.

• Lumary CEO Joe Mercorella: How AI is changing healthcare.

MATTERPORT CEO RJ PITTMAN

Investing smarter with artificial intelligence

Episode Details & Transcript

In a recent interview with CEO.com, RJ Pittman, Chairman and CEO of Matterport, shared insights from his extensive career in technology and entrepreneurship. Pittman’s journey began at nine, and by 14, he had written his first business plan.

Despite initial rejections from his father, he persisted and eventually launched a venture to transform photocopy shops into desktop publishing centers using the Apple Macintosh. Reflecting on this early experience, Pittman noted, “I think I knew that technology was my calling at a pretty early age.” 

His passion for innovation led him to Silicon Valley in the early 1990s, coinciding with the emergence of the World Wide Web. He contributed to several startups there before taking on significant roles at tech giants such as Google, Apple, and eBay. At Apple, Pittman helped launch the iPad in 2010, a product that redefined the tablet market. He described this period as “a very interesting period of time for Apple, experiencing an extraordinary inflection point of growth.” 

Pittman discussed the rapid pace of technological advancement and highlighted the evolution of self-driving cars. He shared a personal anecdote: “I have two now-rising teenage kids who have never been in their own Uber, but I’m very comfortable putting them in a Waymo.” This reflects his confidence in the safety and reliability of autonomous vehicles, a concept that seemed improbable just a few years ago. 

Pittman also addressed the cyclical nature of innovation and Silicon Valley’s resilience. He observed that despite economic downturns, the region remains a hub for groundbreaking ideas and startups. He emphasized, “Even in the toughest of times or the biggest and sharpest of downturns, Silicon Valley is still orders of magnitude more enabling for companies.” 

Since joining Matterport in 2018, Pittman has led the company through significant growth, focusing on the digital transformation of the built environment. Matterport’s platform creates digital twins of physical spaces, enhancing accessibility and value. Under his leadership, the company continues to innovate, contributing to the evolving landscape of technology and real estate. 

LUMARY CEO JOE MERCORELLA

How Joe Mercorella turned technological hesitancy into opportunity with Lumary

Episode Details & Transcript

In a recent episode of the CEO Podcast, we interviewed Joe Mercorella, CEO and Co-Founder of Lumary, a pioneering company in Australia’s disability and aged care sector. The discussion delved into Mercorella’s journey, Lumary's inception, and the transformative impact of technology on healthcare services.

Mercorella emphasized the significance of intertwining personal passion with entrepreneurial endeavors. Reflecting on his path, he noted, “As an entrepreneur, it’s always nice to be connected with your passion. If you can combine the two with the entrepreneurial spirit and what is meaningful to you at heart, I think you nailed it.” This philosophy guided him to merge his enthusiasm for technology with a commitment to meaningful work, ultimately leading to the establishment of Lumary.

The Australian government’s 2014 reforms in the disability sector played a pivotal role in Lumary’s formation. These reforms mandated technology adoption, compelling organizations to transition from legacy systems to digital solutions. Mercorella recounted, “The Australian government introduced a major reform to the disability sector in 2014… it did mandate the use of technology and establishment of digital business more profoundly than whatever had been done in the past.” He recognized a market gap and was driven to develop solutions to bridge this divide.

Introducing cloud-based solutions to a traditionally conservative sector posed significant challenges. Mercorella shared, “Many of the providers I went to engage with as prospective clients thought I was a bit crazy. I was talking about this thing called the cloud, and everyone wanted something on-premise.” Despite initial resistance, his perseverance led to the acquisition of foundational clients who became advocates, facilitating broader market acceptance.

Establishing a tech company in Australia, particularly in regions like South Australia and Adelaide, presented unique obstacles due to limited entrepreneurial networks and resources. Mercorella observed, “Whilst there are innovative things that are present in our community, there isn’t really a playbook or a group to be part of to truly know how to seed and find a business like Lumary.” He emphasized the necessity of robust support systems to nurture emerging entrepreneurs.

The venture capital landscape in Australia has evolved over the past decade. Mercorella noted, “There’s been an uplift in the last five or six years; each city has tried to introduce a tech silicon slopes-type thing to some degree, and there are far more funds now available.” This growth has enhanced opportunities for startups, though challenges remain.