Brendan Wallace
CEO & CIO, Fifth Wall. On 1 show, 3 appearances. The Shows tab opens the full record on each.
investorfounderexecutive@BrendanFWallace ↗LinkedIn ↗fifthwall.com ↗Wikipedia ↗Instagram ↗
Brendan Wallace is the CEO of Fifth Wall, a venture capital firm focused on technology and decarbonization in the built environment. Before Fifth Wall, he co-founded Latin American ridesharing platform Cabify as well as workforce analytics startup Identified, which was acquired by Workday in 2014.
1shows
3appearances
43statements
16resolved
12supported
1contradicted
75%fully supported
4said about them ↓ Everything Brendan Wallace said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Wallace: Left to their own devices, corporate VCs make terrible decisions
“While they have all this potential left to their own devices, corporates will make terrible decisions.”
Digitally native brands inevitably hit an online customer acquisition cost wall
“But what they all seem to face is this dynamic where they grow to a certain point. And at a certain point, whether it's five million dollars or ten million dollars or twenty million dollars, they hit this asymptote. And at that asymptote, the cost of acquiring…”
The era of the 1,000-store retail brand is permanently over
“The era of the thousand store brand is over, and I just don't think it's coming back.”
Consumer retail brands will not achieve $10 billion software-style exits
“What I don't think you'll see is the ten billion dollar exits that typically you see in true software, both enterprise and consumer software businesses, and like we look for out of our real estate technology fund,”
Legacy retail giants will be replaced by hundreds of niche brands
“I think we're not going to have the gaps and the banana republics and the major brands of the era previously replaced by five to 10 new brands, but instead they'll be replaced by hundreds of brands.”
The top 200 digitally native brands are growing faster than Amazon
“Actually, if you look at kind of the top 200 digitally native brands, they're actually growing faster than Amazon, independently of Amazon, and many of them don't sell their products on Amazon.”
Airport parking will be largely obsolete by 2027 due to AVs
“No one's going to park a car at an airport probably in 10 years, or very few people will.”
Real estate valuations will react to AVs well before mass adoption
“Even though the mass adoption might not happen for a long time now, I think the impact on real estate could happen on a much more accelerated basis.”
VTS holds a virtual monopoly in office leasing management software
“Literally this company has basically a monopoly on this category.”
Wallace: Venture capital is a boring industry that has never been disrupted
“VC is a pretty boring industry. Talk about an industry that's never been disrupted, right?”
Wallace: Silicon Valley echo chamber caused VCs to overlook proptech
“I do think there's an echo chamber that exists in Silicon Valley that has actually perpetuated some of the problems in venture capital in the Bay Area and overlooking huge categories like prop tech.”
Wallace: Corporate investors now account for 45% of all venture capital dollars
“Corporate investors represent 45% of all dollars into venture capital.”
Wallace: Corporate VC will exceed 50% of all venture dollars by 2031
“And I expect that sometime over the next decade, it'll be more than half.”
Wallace: Proptech sector will grow 10x to 20x from current levels
“Prop tech is 10 to 20 X from here.”
Amazon's Google AdWords spending makes customer acquisition prohibitive for upstart brands
“On frankly, Google AdWords to grow very quickly online, but now Amazon is the number one spender on Google AdWords, and frankly, they're making the cost of customer acquisition almost prohibitive for many of these new upstart brands”
Influencer marketing cannot scale brands to hundreds of millions in revenue
“You then run into challenges around scale, which is, that's not really a platform to build a Multi hundred million dollar revenue business.”
Series A and B retail startups carry lower loss risk than software
“I think the loss ratio generally should be lower because you can underwrite a more stable business. So because valuation multiples are lower within e-commerce and retail investing, the ability to massively overvalue a business with very low revenue Who might a…”
Proptech adoption will expand for a decade, creating trillion-dollar markets
“You're not just talking about opportunities in the billions of dollars with enormous total addressable markets. You're talking about opportunities in the trillions of dollars. So I think this is a trend that will go on for probably the next decade, frankly.”
Corporate incumbents determine winners and losers in proptech
“A handful of incumbents, a handful of big corporates really dictate who wins and who loses in real estate tech.”
Wallace: Fifth Wall invested in Hippo before finishing its first fund
“We hadn't even raised our fund. And the soft was like, you need to invest in our business. And I was like, I don't even have a fund yet. I don't know how I'm possibly going to do that. But ultimately we did.”
Wallace: States Title bought an entire business unit from a corporate LP
“Our idea was our corporates would just buy the products of the tech companies we were investing in. We didn't contemplate that our startups would be buying entire businesses from our corporates, which is precisely what Max did.”
Wallace: $64 billion was invested in proptech from 2016 to 2021
“Now, sixty four billion dollars has gone into the category in just the last five years.”
Wallace: Fifth Wall manages $1.4B and counts 4 top US homebuilders as LPs
“We're now with a 1,000,000,004 under management. We have four of the top five home builders as strategic LPs in our fund.”
Retail real estate owners require specialized tenant and customer engagement tech
“What we saw in engaging in fund one was that retail real estate owners had fairly idiosyncratic needs. What they were looking for was both technology for the plants, but they were actually looking to identify technologies that supported their engagement with b…”
The other half of the tape: Brendan Wallace's own voice is left out of every number here. Other people bring the name up 4 times in 3 episodes across the shows. every mention, with the transcript →
Who brings them up most Harry Stebbings 4
Every mention by year
tap a year for its mentions
20VC 4
2019 3 mentions in 2 episodes 2 per episode
- 20VC: Why Every Company Looks One Round Earlier Than It Should Be, Why Investors Don't Understand Term Sheet Psyche & How The Brand Behind The Investor Can Overweight The Attention Their Opinion Is Given with Assaf Wand, Founder & CEO @ Hippo
- 20VC: Lime CEO Brad Bao on How Lime Assess The Micro-Mobility Landscape and Competition Today, What It Takes To Launch and Win A New City & Why Lime Have Spent $0 on Marketing To Date
- every mention in 2019, scene by scene →
One line per show, most statements first. The link opens Brendan's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| 20VCLEDGER | CEO & CIO, Fifth Wall | 3 | 43 | 75% 12/16 | full record on 20VC → |