Sands Capital - What Matters Most

Sands Capital
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Go inside the businesses driving global innovation, changing the way we live and work. Sands Capital is an active, long-term investor, and each podcast in our What Matters Most series offers investors an in-depth look at a particular company, explains how our high-conviction strategy led us to target them, and why we expect them to be a leader going forward. https://www.sandscapital.com/WMM-Disclosure

  1. RedSift: Digital Trust as Critical Infrastructure

    11h ago

    RedSift: Digital Trust as Critical Infrastructure

    In this episode, Red Sift CEO Rahul Powar and Sands Capital Global Venture Partner Mark McGovern discuss why digital trust has become foundational infrastructure in the modern economy and how organizations can defend against increasingly sophisticated phishing, impersonation, and AI-driven cyber threats. The conversation explores the evolution of cybersecurity, the role of resilience in enterprise systems, and why protecting trust at scale is emerging as one of the most important challenges for businesses and investors alike. Show Notes: (00:33 Rahul and Mark’s Backgrounds (05:05 What drew Sands Capital to Red Sift (08:51 How Sands Capital thinks about cybersecurity investing (00:10:36 Why email remains a persistent vulnerability (17:00 How Red Sift applies AI to cybersecurity (20:38) Red Sift as an investment (23:17) The founder-investor relationship (28:17)The future of cybersecurity (35:13) What’s ahead for Red Sift Transcript available here. Review our podcast season and episode disclosures here.Learn more about Sands Capital, sign up for our newsletters, and follow us on LinkedIn.

    38 min
  2. Building Resilience in an AI Driven World

    Apr 24

    Building Resilience in an AI Driven World

    In this episode, Michael Graninger, Global Venture Managing Partner, discusses how AI and cybersecurity are reshaping industries, national security, and investment opportunities within the Sands Capital Global Venture strategy. He explains how rapid advances in technology are creating both new risks and powerful tools, and how the firm is identifying companies that are well positioned to benefit from this shift.  Episode Transcript Available Here Show Notes: 00:00 Exploring Global Resilience  05:41 Defining Global Resilience  08:36 The Current State of Global Resilience  10:24 The Role of AI and Cybersecurity  11:58 Investment Focus Areas in AI andCybersecurity  21:17 Evaluating AI and Cybersecurity Companies  25:34 Exciting Opportunities in AI andCybersecurity  28:10 Disclosure    Review our podcast season and episode disclosures ⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠. Learn more about ⁠⁠⁠⁠⁠Sands Capital⁠⁠⁠⁠,⁠ sign up for ⁠⁠⁠⁠⁠our newsletter⁠⁠⁠⁠⁠, and ⁠⁠⁠⁠⁠follow us on LinkedIn⁠⁠⁠⁠.⁠

    29 min
  3. Globant Takes A Design-First Approach to Pure Play Digital Service

    06/02/2025

    Globant Takes A Design-First Approach to Pure Play Digital Service

    If you’ve never thought about investing in IT services, this podcast episode could change your mind. Sands Capital Sr. Research Analyst Eric Black takes you through the investment case for Globant, the world’s largest pure play design-first digital services provider. Asset-light businesses such as Globant can be hard to evaluate, but the opportunities in the 1.5 trillion market of IT Services are undeniable. Eric helps us see why, unpacking the potential of AI, Globant’s strategic business partnerships, and the loyalty the company has generated from the more than 1,500 Fortune 500 and Fortune 2000 companies on its client list. Globant’s cutting-edge software solutions have made their way into products at Disney, ESPN, and Google and are making lives easier around the globe. Episode Transcript Available Here (01:50) Not a labor-cost arbitrage model(03:44) The Disney Magic Band. The Globant product you’ve probably already seen.(05:14) Tech companies don’t do everything in-house. Enter: Globant.(06:59) What makes Globant a growth business?(08:41) A Thought Leader in AI for the last decade and MaganifAI(11:45) The research process into digital transformation(14:31) A one-size-fits-all all approach would be antithetical to the way Globant operates(18:26) The pandemic boost and a global presence(21:51) “Value-added focus” and the power of a leader(25:10) The competitive moat for a huge market and Globant’s potential advantages(28:24) Competitors have the same advantages? Why we like Globant’s pure play angle.(31:19) The disruptors lying in wait(34:21) Staffing costs and flexing to keep margins high and remain profitable(36:25) Researching a company operating in intangibles: what’s different?(39:04) The portfolio managers visit Buenos Aires(40:44) From “why would you invest” to “what’s the insight”?(43:04) Responsible investing in human capital, labor rights and gender diversity(44:49) Nefarious digital technology and cybersecurity - Globant’s response.(49:26) Under the radar companies and enablers of big trends can make for great investments(52:56) Quick recap of Season 2 episodes Related content from Sands Capital ⁠Sign up to receive our monthly Perspectives newsletter: ⁠Our latest thinking on innovation investing, long-term capital, and culture In case you missed it: What Matters Most Episode 6: Revolutionizing Public Safety: The Axon Ecosystem ⁠Catch our most popular episodes from this season: ⁠Kaspi: The Super App Reshaping Kazakhstan’s Financial LandscapeInside Cadence: The Software Powering Semiconductor Breakthroughs ⁠Follow What Matters Most⁠ wherever you listen to podcasts and never miss an episode. Learn more about ⁠Sands Capital⁠, sign up for ⁠our newsletter⁠, and ⁠follow us on LinkedIn⁠. Review our podcast season and episode disclosures ⁠here⁠.

    54 min
  4. Revolutionizing Public Safety: The Axon Ecosystem

    06/01/2025

    Revolutionizing Public Safety: The Axon Ecosystem

    Its mission is simple: protect life, preserve truth, and accelerate justice. As Axon Enterprises innovates to try to achieve that goal, its solutions are rapidly becoming the industry standard. In this episode of What Matters Most, Sands Capital Portfolio Manager and Sr. Research Analyst Danielle Menichella, CFA discusses the business’ journey from Taser maker to artificial intelligence-powered software developer. We’re diving deep into how its wide range of technologies work in tandem, what the future of public safety might look like—and why we believe all of this makes the business an attractive investment opportunity. Episode Transcript ⁠⁠Available Here⁠. (2:22) Axon’s product line, from Tasers to body cameras(6:50) The ethical considerations of investing in a manufacturer of weapons and surveillance equipment(13:55) Eyeing untapped markets and finding opportunities in growing markets overseas(19:55) Using artificial intelligence for faster redactions, transcriptions, and archiving of bodycam footage(21:07) Navigating privacy concerns around surveillance devices and data storage(27:15) Preserving human accountability as public safety technology advances(35:50) The big question for Danielle: To be or not to be tased? Related content from Sands Capital ⁠⁠Sign up to receive our monthly Perspectives newsletter: ⁠⁠Our latest thinking on innovation investing, long-term capital, and culture. Catch our most popular episodes from this season: ⁠⁠⁠Globant Takes A Design-First Approach to Pure Play Digital Service⁠⁠⁠⁠Kaspi: The Super App Reshaping Kazakhstan’s Financial Landscape⁠⁠Inside Cadence: The Software Powering Semiconductor Breakthroughs ⁠⁠Follow What Matters Most⁠⁠ wherever you listen to podcasts and never miss an episode. Learn more about ⁠⁠Sands Capital⁠⁠, sign up for ⁠⁠our newsletter⁠⁠, and ⁠⁠follow us on LinkedIn⁠⁠. Review our podcast season and episode disclosures ⁠⁠here⁠⁠.

    44 min
  5. Credo AI: Driving Responsible Innovation

    03/11/2025

    Credo AI: Driving Responsible Innovation

    As artificial intelligence (AI) becomes a part of oureveryday lives, making sure it’s transparent and unbiased has become a high priority for businesses, governments, and ordinary people. In this episode of What Matters Most, Scott Frederick, a Sands Capital managing partner, explains howsoftware startup Credo AI is helping to keep AI models responsible. Join us as we look at how Credo AI aims to lead the way  in this vital new field.   Show Notes: (2:10) AI Has Evolved Over Decades (4:48) Responsible AI vs. Ethical AI (9:29) Simplifying AI Governance with Credo AI (14:10) Can Agents and Artificial Superintelligence beTransparent? (18:27) Solving the Alignment Problem (20:16) Industries Ripe for Credo AI’s Solution (22:14) Market Timing and Other Potential Headwinds (24:53) How Big of a Market Could AI Governance Be?   Review our podcast season and episode disclosures ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠. Learn more about ⁠⁠⁠⁠Sands Capital⁠⁠⁠⁠, sign up for ⁠⁠⁠⁠our newsletter⁠⁠⁠⁠, and ⁠⁠⁠⁠follow us on LinkedIn⁠⁠⁠⁠.

    29 min
  6. Nubank: Reshaping Banking in Brazil and Beyond

    01/08/2025

    Nubank: Reshaping Banking in Brazil and Beyond

    In this episode of Season 3 of What Matters Most, Sands Capital’s Eduardo Leal explains how Brazil’s Nubank went from startup to the country’s second largest corporation in just 10 years — and the company’s digital-first banking platform.  Join us as we explore how mobile banking is opening financial doors for global citizens and how we believe Nubank is poised to remake the Brazilian banking industry. Show Notes (2:23) The State of Banking for 700 million Latin Americans (4:32) Founder David Vélez’ Story (7:32) How NuBank Serves a Fundamental Need (10:48) A Lean, Mean Business Model (13:45) Overcapitalization: A Good Problem to Have (17:06) How Sands Capital First Spotted NuBank (18:46) Potential Risks to Future Growth (21:01) Could NuBank Expand Beyond Latin America? (22:29) The Next 10 Years Review our podcast season and episode disclosures ⁠⁠⁠⁠here⁠⁠⁠⁠. Learn more about ⁠⁠⁠Sands Capital⁠⁠⁠, sign up for ⁠⁠⁠our newsletter⁠⁠⁠, and ⁠⁠⁠follow us on LinkedIn⁠⁠⁠.

    26 min
  7. Samsara: Steering the Future with Integrated Fleet Technology

    12/05/2024

    Samsara: Steering the Future with Integrated Fleet Technology

    In our first episode of season 3’s What Matters Most, Sands Capital’s Emerson Bluhm explains why Samsara’s integrated hardware and software technology continues to gain market share and why this investment opportunity is aligned with Sands Capital’s philosophy. Join us as we explore the future of real-world operations and why Samsara is poised to become a leader of this ~$4 billion North American market. Show Notes (1:17) From Private Funding to Public Success (3:50) A Software Company that Knows Hardware (4:43) Why Physical Operations is Ripe for Disruption (6:54) Leadership with a Proven Track Record (11:04) The Value of Samsara’s Integrated Platform (16:17) ‘AirTags’ for Cranes, Tools and Everything in Between (19:44) Third-party Integrations and Realtime Decision-making (21:07) Return-on-investment for End Users (22:34) Samsara’s Long-term Growth Potential (24:13) The Stickiness Subscription-based Revenue Learn more about ⁠⁠Sands Capital⁠⁠, sign up for ⁠⁠our newsletter⁠⁠, and ⁠⁠follow us on LinkedIn⁠⁠. Review our podcast season and episode disclosures ⁠⁠here⁠⁠.

    33 min
  8. The Hidden Player in the Semiconductor Boom

    09/30/2024

    The Hidden Player in the Semiconductor Boom

    You’ll find semiconductors in just about every device with a plug, a power button, or a battery. In this episode of What Matters Most, Sands Capital research analyst Daniel Pilling explains why Entegris, a critical player in the global semiconductor industry, is seeing rapid growth as the demand for artificial intelligence (AI) and machine learning intensifies. Transcript available here. (00:01:37) From vacuum tubes to artificial intelligence (AI) in 80 years—a quick history of semiconductors (00:04:51) How small is a nanometer really? Moore’s Law in action, shrinking chip circuitry. (00:07:33) Exponential complexity in chipmaking. Skyscrapers and bread? (00:09:00) But actually, how do you make a semiconductor? (00:15:18) Entegris: chemicals or technology analysts? Who covers it and why? (00:18:56) “One throat to choke”? And the chokepoint explained. (00:26:28) Why consumables have less “lumpy” capital expenditures (00:26:51) Chips that power EVs [electric vehicles] (00:30:22) Don’t bet on the winner in this market, and what to do instead. (00:33:57) Advantages and industry talent finding an employer of choice (00:40:32) The iPhone moment and where AI is going from here (00:42:17) Outlook for Entegris and semiconductor growth Related content from Sands Capital ⁠⁠Sign up to receive our monthly Perspectives newsletter: ⁠⁠Our latest thinking on innovation investing, long-term capital, and culture More from Daniel Pilling: Gen AI: Hype or Megatrend, Inside Cadence: The Software Powering Semiconductor Breakthroughs Season 3 is now live! Samsara: Steering the Future with Integrated Fleet Technology Catch our most popular episodes from last season: ⁠⁠Globant Takes A Design-First Approach to Pure Play Digital Service⁠⁠ ⁠⁠⁠Revolutionizing Public Safety: The Axon Ecosystem⁠⁠⁠ Kaspi: The Super App Reshaping Kazakhstan’s Financial Landscape ⁠⁠Follow What Matters Most⁠⁠ wherever you listen to podcasts and never miss an episode. Learn more about ⁠⁠Sands Capital⁠⁠, sign up for ⁠⁠our newsletter⁠⁠, and ⁠⁠follow us on LinkedIn⁠⁠. Review our podcast season and episode disclosures ⁠⁠here⁠⁠.

    45 min
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Ratings & Reviews

5
out of 5
7 Ratings

About

Go inside the businesses driving global innovation, changing the way we live and work. Sands Capital is an active, long-term investor, and each podcast in our What Matters Most series offers investors an in-depth look at a particular company, explains how our high-conviction strategy led us to target them, and why we expect them to be a leader going forward. https://www.sandscapital.com/WMM-Disclosure

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