BuiltForward: The Future of Construction

Jason Jacobs
  • 5.0 (1)
  • Entrepreneurship
  • Weekly

BuiltForward explores the future of construction and what it takes to build great construction businesses. Hosted by longtime entrepreneur and investor Jason Jacobs, the show features conversations with contractors, operators, founders, investors, and industry experts about the challenges and opportunities shaping the industry. From leadership, operations, and productivity to technology, AI, workforce development, succession planning, and new ownership models, BuiltForward explores how construction businesses are built, managed, and transformed. Jason is learning about the industry in public, one conversation at a time, with the people who know it best.

  1. 3d ago

    Building the Autopilot for Commercial HVAC with Rahul Subramany of Monaire

    Most commercial HVAC and refrigeration systems provide building operators with little visibility or control. Facilities teams often learn something is wrong only after receiving a complaint, while technicians arrive without the equipment data needed to diagnose the problem efficiently. Rahul Subramany is the co-founder and CEO of Monaire, which adds a low-cost layer of wireless sensors, controls, software, and AI to existing commercial equipment. Monaire helps multi-site operators monitor their assets, optimize energy use, predict failures, coordinate repairs, and verify that the work was completed successfully. In this episode: 00:00 — Introduction 01:00 — What Monaire does for multi-site operators 03:00 — The USPS experience that inspired Monaire 06:00 — Why commercial HVAC equipment still lacks connectivity 08:00 — Why Monaire sells directly to building operators 11:00 — The reality of reactive facilities management 16:00 — What an ideal connected HVAC system would look like 18:00 — Why BACnet hasn’t solved interoperability 21:00 — Connecting equipment from different manufacturers 24:00 — Monitoring, optimization and predictive maintenance 26:00 — How Monaire keeps installation costs low 27:00 — Using AI to predict equipment faults 29:00 — How commercial HVAC equipment gets purchased 32:00 — Working with existing HVAC service contractors 34:00 — Predictive maintenance and flattening seasonal demand 36:00 — HVAC contractors as a potential sales channel 38:00 — Why no one manages the building as one system 42:00 — Expanding into plumbing and electrical equipment 44:00 — Technician shortages, cooling demand and grid pressure 48:00 — How AI can improve HVAC service and energy efficiency 50:00 — Working within the system versus reinventing it 52:00 — Partnerships with major HVAC manufacturers 54:00 — What commercial HVAC could look like in 10 years 55:00 — Building the Samsara of commercial buildings 57:00 — Closing thoughts Learn more: Monaire: https://www.monaire.ai/ Rahul Subramany: https://www.linkedin.com/in/rahul-subramany BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  2. 5d ago

    Process Improvement in Construction: How Contractors Scale and Protect Profits | Mike Kanaby

    Show NotesMike Kanaby has spent decades in construction, from working in the field to leading a $1.5 billion operation at Johnson Controls. Today, as Managing Partner at Profitability Works, he helps trade contractors improve their processes, strengthen operations, and scale more effectively. We get into: Why contractors often hit operational growing pains around $20–30 million in revenueHow small breakdowns in execution quietly erode profitabilityWhy change order management is such a significant opportunityHow to build processes that employees actually adoptWhy technology implementations fail, even when the software is goodWhat contractors need to fix before AI can deliver meaningful valueHow private equity-backed contractors can standardize operations without losing local strengthsCHAPTERS00:00 – Introduction to Mike Kanaby and Profitability Works03:00 – Why contractors hit a breaking point at $20–30M05:00 – The three reasons owners pursue process improvement08:00 – Why change management determines whether improvements stick12:00 – The Building Excellence Blueprint: diagnostics, workshops, and implementation17:00 – Why piloting new processes is essential19:00 – Change orders: one of the biggest opportunities to improve profitability22:00 – Finding root causes instead of treating symptoms25:00 – Fixing handoffs between estimating, operations, and the field28:00 – Why contractor data is often fragmented and unreliable31:00 – Why construction software implementations fail34:00 – Getting field-level buy-in for process improvement38:00 – Measuring the financial impact of operational improvements42:00 – Why contractors aren't ready for AI47:00 – The relationship between technology adoption and operational excellence52:00 – What private equity should standardize across acquired contractors55:00 – Private equity's growing role in construction58:00 – The future of ownership and the skilled trades LINKS & RESOURCESProfitability Works: https://profitabilityworks.comBuilding Excellence — Mike Kanaby's book on process improvement for trade contractors: https://profitabilityworks.com/building-excellence/ BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  3. Oct 22

    Why Private Equity Is Flocking to Construction | Chuck Fenske

    In This Episode00:00 – Meet Chuck Fenske of Carleton McKenna02:30 – From the family construction business to investment banking05:30 – Labor shortages and the aging construction workforce08:30 – Why private equity is investing in construction11:00 – What motivates contractor owners to sell14:00 – Preparing for a sale and maximizing valuation16:00 – What makes one contractor worth more than another18:30 – Financial discipline, cash flow, and quality of earnings23:00 – Bonding and surety considerations25:00 – Why the highest offer isn't always the best27:00 – What good private equity buyers do differently30:00 – Roll-ups and valuation multiples32:00 – Independent sponsors and long-term holding companies34:00 – Building successful buyer-owner partnerships37:00 – The future of consolidation in construction38:00 – Technology, productivity, and labor challenges44:00 – Owner dependency and succession risk47:00 – Business brokers vs. investment bankers50:00 – A construction M&A case study53:00 – Strategic acquirers55:00 – Choosing the right M&A advisorLinks & ResourcesCarleton McKennaChuck Fenske LinkedIn BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  4. Oct 20

    The ESOP Advantage in Construction | Chuck Mazzanti, Christensen Group

    In this episode of BuiltForward, I sit down with Chuck Mazzanti, who leads the construction practice at Christensen Group, a 100% employee-owned insurance and risk management firm. Chuck is also the founder of the Construction ESOP Collective. We explore why construction companies are particularly well-suited to employee ownership, how Employee Stock Ownership Plans (ESOPs) work, and how they compare with private equity and other succession options. We also discuss the practical realities of ESOP transactions, including valuation, financing, bonding capacity, and insurance, along with the importance of building an ownership culture. Beyond ESOPs, we explore the coming wave of retirements in construction, the challenge of preserving institutional knowledge, and how AI and emerging technologies could reshape the industry. Show Notes00:00 – Introduction to Chuck Mazzanti and Christensen Group02:00 – Chuck's background and how he found his way into construction insurance05:00 – Understanding the complexities of insuring contractors07:00 – Why employee ownership is particularly relevant to construction10:00 – Chuck's personal experience with ESOPs and the financial benefits of employee ownership16:00 – How ESOP transactions affect financing, balance sheets, and bonding capacity20:00 – Building an employee ownership culture and getting buy-in22:00 – When does an ESOP make sense for a construction company?25:00 – ESOPs vs. private equity: Valuation, liquidity, and owner priorities28:00 – Employee retention and the potential advantages of employee ownership30:00 – How construction companies are valued in ESOP transactions33:00 – What separates well-managed contractors from higher-risk businesses37:00 – How safety, risk management, and insurance can create competitive advantages41:00 – The relationship between insurance, surety, and bonding capacity44:00 – The coming retirement wave and the challenge of attracting younger talent47:00 – How contractors are adopting AI and emerging technologies50:00 – Preserving institutional knowledge before experienced workers retire55:00 – AI, workforce concerns, and the importance of bringing employees along58:00 – What construction might look like in 10 years1:01:00 – Final thoughts on embracing change and opportunity Links & ResourcesChristensen GroupBuiltForward on YouTubeBuiltForward Newsletter BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  5. Oct 13

    Construction's Golden Age: AI, Automation, and What's Next — Eldar Sadikov (Field Materials)

    Show NotesThere's been a lot of investment in construction technology over the past decade, but how much has really changed? Eldar Sadikov, co-founder and CEO of Field Materials, believes we're still in the early days. While many expect the construction software market to consolidate, Eldar thinks there's room for many more large, successful companies to emerge. Field Materials uses AI to automate the administrative work involved in purchasing and managing construction materials, including purchase orders, delivery tickets, invoices, and inventory. Eldar grew up around construction in Russia, where his father ran a general contracting business and his mother was the controller. He started programming at 13, went on to build an AI company that was acquired by PayPal, and eventually returned to construction after reconnecting with a friend from Stanford. Eldar is optimistic about where the industry is heading. He believes we're entering a golden age for construction, driven in part by the enormous demand for AI infrastructure and the shortage of skilled labor needed to build it. In his view, those pressures could finally accelerate the productivity improvements and technology adoption that construction has struggled with for decades. We also spend time on the experience of building Field Materials, including how Eldar and his team found their initial customers, what they learned along the way, and why they decided to focus on eliminating manual data entry rather than simply making existing workflows more efficient. We cover a lot of ground, including: Eldar's background, from growing up in a construction family in Russia to building and selling his first AI company to PayPal.How a conversation with an old Stanford friend led him back to construction and eventually to starting Field Materials.Why materials procurement is still so manual, and how AI could change the way contractors handle purchase orders, deliveries, invoices, and inventory.What Eldar learned from talking to contractors before building the product, including why he would approach some things differently today.Why Field Materials initially focused on smaller specialty contractors rather than large general contractors.How feedback from early customers led to the decision to make eliminating data entry a central part of the product.Why Eldar believes the combination of AI infrastructure demand and labor shortages could usher in a golden age for construction.His prediction that traditional workflow software will become increasingly obsolete as AI takes on more of the work itself.How contractors might eventually build their own AI agents to automate tasks specific to their businesses.Why he disagrees with the idea that construction technology is overcrowded and headed toward consolidation.A real-world example of how Field Materials changed the purchasing and accounts payable processes at Worth & Company, a large mechanical contractor in Pennsylvania.How contractors evaluate the ROI of automation, from reducing administrative work to improving purchasing controls and capturing missed discounts.Why labor shortages, employee retirements, and growing project backlogs are driving interest in AI.What's next for Field Materials, and how Eldar sees the industry evolving over the next five to ten years.Thanks to Eldar for joining me! Links: Field Materials: https://www.fieldmaterials.com/Eldar Sadikov: https://www.linkedin.com/in/eldarsadikov/ Chapters00:00 Introduction01:46 Welcome to BuiltForward02:48 Growing up in a construction family in Russia04:24 How Eldar found his way back to construction06:45 The early days of Field Materials08:37 Figuring out what to build09:03 Why existing procurement tools weren't solving the problem09:59 How ChatGPT changed the opportunity11:57 Finding the first customers13:10 What Eldar would do differently starting over15:15 Why smaller specialty contractors were the right initial customers18:30 Why selling technology to contractors is difficult21:39 Learning from customer feedback23:39 The decision to eliminate manual data entry24:52 Why Eldar believes construction is entering a golden age27:57 AI infrastructure, labor shortages, and productivity29:21 Who buys Field Materials and why30:16 Why traditional workflow software could become obsolete32:57 Can contractors build their own software with AI?35:05 The future of custom AI agents36:29 Construction software fatigue and consolidation38:10 Why construction tech isn't as crowded as people think40:19 How Field Materials transformed procurement at Worth & Company45:33 Building trust and demonstrating ROI46:26 How quickly contractors can see results47:02 What's driving contractors to adopt AI49:19 Four ways automation delivers ROI51:32 Why customers increasingly want custom AI agents53:17 What's next for Field Materials55:05 Where construction technology is heading55:43 Final thoughts56:49 Outro BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  6. Oct 6

    The Future of Construction Procurement: A Conversation with Micah Rodman of Kojo

    Micah Rodman is the CEO and co-founder of Kojo, a procurement, warehouse management, and finance platform built for trade contractors. Kojo started with a simple observation: trade contractors were still spending enormous amounts of time moving information manually between the field, purchasing teams, and accounting systems. The founders spent months visiting job sites, talking with contractors, and watching how materials actually moved through their businesses before building their first product. In this episode, Micah and I talk about how that initial wedge grew into a broader procure-to-pay platform, why contractors that initially appear completely unique eventually reveal what he calls “patterns of snowflakes,” and why he says Kojo isn’t really selling software—it’s selling organizational change. We also get into what AI changes when software can understand operational data and take action, how contractors should think about building versus buying technology, whether AI will lead to fewer construction software vendors, and why robotics may reach construction through prefab and industrialized construction before it transforms the job site. Episode highlights: 00:00 — Introduction and a timely Kojo implementation03:25 — What Kojo does and the “operational debt” inside construction05:35 — Why the founders chose construction and the trades09:25 — Buying donuts, visiting job sites, and finding the initial wedge11:25 — The manual purchase-order workflow that helped inspire Kojo15:40 — From $30–100M contractors to billion-dollar customers17:00 — Why contractors are “patterns of snowflakes”19:00 — The seven steps of the procure-to-pay process24:00 — Why contractors tolerate operational pain for so long26:30 — “We’re not selling a product. We’re selling organizational change.”29:00 — Meeting contractors where they are vs. changing inefficient workflows32:00 — How AI changes what construction software can actually do35:30 — Build vs. buy in the age of AI40:00 — Does venture capital fit construction tech?43:20 — Services as software and the next generation of construction technology48:20 — Will contractors have more software vendors or fewer?50:20 — The “holy grail” of a unified construction operating platform55:35 — Robotics, prefab, and industrialized construction58:15 — What construction can learn from automotive manufacturing1:00:00 — Why Micah believes this is construction technology’s most exciting moment BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  7. Sep 29

    The Future of HVAC: Thalo Labs and Predictive Maintenance

    Brendan Hermalyn is the founder and CEO of Thalo Labs, which builds connected technology that helps commercial HVAC contractors monitor equipment, diagnose problems, and identify potential failures before they happen. In this episode, Jason and Brendan discuss how technology could transform HVAC from a reactive service business into a predictive one — and what that could mean for technician productivity, contractor margins, equipment manufacturers, and the future structure of the industry. Episode highlights: 02:00 — What Thalo Labs does and why HVAC is ripe for change06:00 — Why Brendan chose HVAC and the role of electrification12:00 — Hundreds of millions of HVAC units vs. hundreds of thousands of technicians14:00 — Why Thalo started with commercial HVAC maintenance17:00 — How installation quality can make or break heat pump performance19:00 — Why selling energy savings isn't necessarily the best way to sell new technology24:00 — Moving from individual projects to fleet-wide HVAC monitoring27:00 — Escaping "pilot hell" and getting contractors to adopt new technology31:00 — Why a sensor needs to become a "robot technician," not just another source of data32:00 — How an air conditioner actually works37:00 — Predictive maintenance, first-time fix rates, and the future of HVAC service calls39:00 — Could HVAC ultimately be sold as a service?41:00 — The fragmented HVAC equipment landscape44:00 — Why third-party technology can have an advantage over individual OEMs47:00 — Vertical integration: could contractors start making their own equipment?50:00 — How Thalo sells into a fragmented, relationship-driven industry53:00 — The emergence of higher-margin, technology-enabled service businesses55:00 — Private equity, innovation teams, and who actually adopts new technology58:00 — What separates forward-thinking HVAC contractors from the rest1:01:00 — Regulation, refrigerants, electrification, and what could accelerate adoption1:04:00 — Why HVAC infrastructure is hiding in plain sight BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

  8. Sep 22

    Build vs. Buy in the Age of AI - Longtime Construction CIO Rob Spencer on the Future of Construction Technology

    Rob Spencer has spent more than 27 years inside construction companies, working his way from warehouse laborer to CIO and Chief Administrative Officer. He now runs BuiltTech Strategy Group, advising contractors on technology strategy, systems, AI and digital transformation. In this conversation, we dig into how contractors should think about build vs. buy, why app fatigue is becoming a problem, where bespoke AI fits alongside established software platforms, and what it takes to turn employee experimentation with AI into dependable company-wide workflows. We also get into data foundations, human-in-the-loop systems, shadow AI, technology budgets, and why Rob believes mid-sized contractors will increasingly need outside help to build and maintain custom AI tools. Episode Notes 00:00 — Introduction02:25 — Rob’s path from warehouse laborer to construction CIO05:25 — What’s consistent across contractors — and what differs08:25 — The acceleration of construction technology and growing app fatigue10:35 — When contractors should buy software vs. build it themselves14:30 — Getting the field involved in process and technology decisions17:40 — Connecting technology investment to the top line and bottom line20:25 — Leading edge vs. bleeding edge23:25 — How Rob evaluates and pilots new construction technology27:15 — What construction could look like 10 years from now31:55 — How much contractors should spend on technology33:30 — IT, innovation teams and frontline employees37:40 — Where humans need to stay in the loop with AI38:30 — Why the data foundation matters43:00 — Shadow AI and the importance of governance47:15 — Building an AI strategy around business objectives50:45 — Giving employees freedom to experiment — with boundaries53:45 — Turning an employee-built AI tool into a company-wide workflow55:20 — Why construction may be heading toward fewer software vendors57:15 — Where bespoke AI fits alongside the major platforms59:15 — How AI changes the build-vs.-buy equation1:00:40 — Who will build bespoke AI for mid-sized contractors?1:01:50 — What does “AI-native contractor” actually mean?1:03:45 — Rob’s new firm, BuiltTech Strategy Group1:07:25 — How Rob assesses a contractor’s technology operation1:09:30 — Repair, integrate or replace existing software?1:11:00 — Using outside AI firms to build custom solutions1:14:00 — Rob’s wish list for construction technology1:16:00 — How contractors can get their data ready for AI1:18:00 — Why owners should treat technology as part of delivering the project Learn more about Rob Spencer BuiltTech Strategy Group: builttechsg.comLinkedIn: linkedin.com/in/spencer-robert/ BuiltForward Exploring the future of construction and what it takes to build great construction businesses. Hosted by Jason Jacobs. More at https://builtforward.ai — or follow the weekly newsletter on LinkedIn: https://www.linkedin.com/newsletters/builtforward-7299979495069929472/

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BuiltForward explores the future of construction and what it takes to build great construction businesses. Hosted by longtime entrepreneur and investor Jason Jacobs, the show features conversations with contractors, operators, founders, investors, and industry experts about the challenges and opportunities shaping the industry. From leadership, operations, and productivity to technology, AI, workforce development, succession planning, and new ownership models, BuiltForward explores how construction businesses are built, managed, and transformed. Jason is learning about the industry in public, one conversation at a time, with the people who know it best.

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