💡How to turn external tech teams into a strategic asset

If you are listening to the podcast you will notice that today’s guest was especially easy to introduce for me—finally, a French name that I could pronounce ;) I had the pleasure of speaking with Sean Languedoc, a serial entrepreneur and the founder & CEO of Outforce AI. His mission? To make tech outsourcing not just efficient, but actually strategic.

We’ve all been there—burned by agencies that send in their B team, delayed by months of inefficiencies, and exhausted by the mismatch between what’s promised and what’s delivered. Sean’s view? Outsourcing is broken. But fixable.

🧠 Matching Tech Talent with Precision

Outforce AI isn’t an outsourcing agency. It’s a data-driven matchmaker for engineering and data science services—curating top-performing agencies from a database of 79,000+ firms, based on domain expertise, tech stack depth, delivery history, and even cultural alignment.

Think of it like executive search, but for teams of engineers. Instead of “Do you do healthtech?” and getting a canned “Yes,” Outforce uses granular data to match companies with providers who’ve actually done the job—successfully, repeatedly, and with the right bench strength.

“Little data to make a big decision is a bad way of doing things.”
– Sean Languedoc

Outforce reduces the failure rate of outsourcing projects (often cited as 50–60%) to a stunning 98% success rate. The secret? Start with the team and timing—not just a brand name (or the price!)

⏱️ In PE, Speed Is the Alpha

Sean’s client base today includes mid-sized U.S. private equity firms, helping their portfolio companies build or refactor tech products fast. In private equity, speed to execution = value creation.

And nowhere is that more important than in the first 100 days post-acquisition. During that window, Sean says firms need to swarm:

• Audit the product and the codebase

• Evaluate decision-making logic (a nod to Conway’s Law)

• Determine who on the tech team is staying—and who needs to go

• Decide whether to scale the existing tech or rebuild it

In that contect, he offered two smart approaches:

1. Bring in a full team to re-architect while legacy engineers maintain the current product.

2. Augment the team internally to free up in-house talent for a rebuild.

Either way, the goal is the same: don’t lose momentum, speed is of the essence.

🤝 Outsourcing Can Be Strategic

Sean’s most provocative idea? That owning your tech staff isn't always necessary, especially in the early stages. Instead, the right outsourced team can:

• Accelerate product-market fit

• Free up equity allocation

• Enable faster scaling without the 9-month hiring drag

Outsource the right way, and you gain speed, quality, and flexibility. That’s the holy trinity.

His warning: price-first outsourcing leads to rewrites. Think “Ocean’s Eleven” teams instead—small expert agencies with pattern recognition, cultural fluency, and domain expertise.

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🛠️ Technical Debt, Culture & Communication

In PE, buying older assets often means confronting legacy tech. But solving for technical debt isn’t just a DevOps issue—it’s a people and culture issue too.

Outforce AI considers:

• Communication style (are they problem-solvers or order-takers?)

• Cultural mindset (do they question? or just say “yes”?)

• Team dynamics (can they handle feedback? work iteratively?)

They even worked with a neuroscientist trained in cultural adoption to understand how cross-cultural communication impacts productivity. Think agile American start-ups vs. deferential Southeast Asian engineering cultures—mismatched expectations can kill speed and results.

💡 Final Takeaway: Treat Outsourcing Like Interior Design

One of my favorite moments from the conversation? I compared using Outforce AI to hiring my interior designer. He got me discounts, knew where to go, and saved me a ton of time, money and stress. The value more than paid for itself.

The same is true here. Sean isn’t just matchmaking. He’s enabling transformation.

And in a world where funding cycles are tight, leadership churn is high, and talent is global, that's exactly the edge portfolio companies need.

📌 For more, check out Outforce AI and Sean’s upcoming video series on outsourcing best practices. And if you're a VC, PE investor, or a tech CEO: this one’s worth bookmarking.

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

✈️ Staying Global in a Deglobalizing World

Last week, I attended Burgundy’s annual forum in Toronto—a quiet powerhouse gathering for serious investors. This year’s theme, “Staying Global in a Deglobalizing World,” felt particularly timely. Two keynotes stood out and made me rethink what diversification actually means in a world where capital, narratives, and attention are all getting a little more domestic.

My takeaway? In a fragmented world, the best investment approach is still the simplest one: focus on compounding. Good businesses, bought at reasonable valuations, held through the cycles. Businesses that create value, adapt, and keep going—especially when markets get choppy. And they will get choppy. As one speaker put it: we’re all bound to pass through rough seas. That’s a feature of long-term investing, not a bug.

🔍 Rethinking Diversification – Anne Mette de Place Filippini

The second keynote came from Anne Mette de Place Filippini, CIO at Burgundy, and she did not disappoint. With a calm but pointed delivery, she challenged several lazy assumptions in investing today.

One of her early comments—half joke, half truth—set the tone:
“Why not invest in more of the winners and less of the losers?”
A 20/20 insight, of course, but a reminder that performance attribution often comes with hindsight and that conviction needs to be earned in real time, not retroactively justified.

She revisited diversification—not as a spreadsheet exercise, but as a principle of humility. To quote Buffett, “Diversification is protection against ignorance,” but Anne Mette was quick to point out: not at the cost of understanding. Diversification only works if you understand what you own, why you own it, and how each piece contributes to the whole.

Her skepticism of endowment-style investing was striking. Too much complexity, too many fees, and not enough transparency. Institutions chasing premium returns with premium structures, but with no actual premium showing up in the results. It’s a good reminder: complexity doesn’t equal quality, and diversification without clarity can actually destroy value.

She pointed to opportunities outside the U.S.—in smaller and mid-sized companies, and in regions that don’t dominate the headlines. Today, U.S. stock markets are lagging, even as the U.S. economy is supposedly stronger than Europe’s. So much for American exceptionalism. There’s a large hunting ground in the rest of the world, filled with underappreciated opportunities just waiting to be discovered.

She emphasized that investing isn’t about chasing market trends, but about recognizing that price is not the same as value. That achieving balance doesn’t mean swinging between extremes, but rather holding firm to discipline through volatility. From volatility comes the ability to compound—and that’s where the real value lies.

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🌍 Europe: Relic or Rising Opportunity? – Kenneth Broekaert

The third keynote, delivered by Kenneth Broekaert, SVP and Portfolio Manager, brought a slightly different flavor to the day: more narrative, more history, and even a touch of dry humor. He posed a provocative question:
“Europe: relic or rising opportunity?”

Since Liberation Day, he said, investors have asked themselves whether they were too concentrated in the U.S. That question is still relevant—and increasingly worth revisiting.

Kenneth’s answer was unequivocal: Europe is not just relevant—it’s robust. It houses some of the best companies in the world, particularly in healthcare, consumer goods, and industrials. Many of these businesses are leaders in their categories and geographies. They benefit from real scale—like Heineken 0% leveraging Verstappen in global advertising—and they’ve built resilient models with high recurring revenues and limited exposure to global supply chain disruptions.

His preference? Companies that produce where they sell—a structural edge in an era of tariffs and fractured trade routes.

He made the case that European equities offer stability, lower valuations, and higher dividends—a rare combination in today’s market. Healthcare companies, in particular, provide essential products in every economic environment. Industrial firms in Europe are often treated as boring—but boring with recurring revenue can be a beautiful thing when you're looking to compound earnings over time.

What struck me most was Kenneth’s quiet confidence in the compounding power of European returns. Not as a contrarian bet, but as a smart, grounded strategy for investors willing to go beyond headlines and lean into fundamentals.

🎯 Final Thought

In a world turning inward, looking outward may be the edge.
Staying global doesn't mean owning “the market.” It means owning what compounds.
And more often than not, that means looking beyond what’s obvious.

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes value creation, strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

🏡 The Leak, the Ladder, and the Illusion of Trust

During the two days of non-stop rain in Toronto at the end of May, my better half and I were awakened in the middle of the night by water dripping from the ceiling—right in the middle of our bedroom.

After installing the necessary bucket and towels, we reached out to our roofer and general contractor, who had worked on our roof (and redone it) not once but twice in the past five years. I don’t think anyone ever expects a leak, but with a new roof and new windows, this was definitely not on our radar.

Obviously, when morning came—after pretty much a sleepless night—I called our insurance company to get organized. In the meantime, our roofer called to let us know he would be there a few hours later. I was unfazed. Not my first leak, not their first leak—a pain in the butt, but in the grand scheme of things, a non-problem. Of course, I had to cancel my meetings to accommodate the visits and calls, but still—no biggie.

As expected, the roofer came toward the end of the morning to check things out. First thing he asked for was a ladder to get on the roof. Well, I don’t know about you, but I don’t have a ladder. I’m not in the habit of climbing onto my roof—I’m sure it’s a lovely vantage point, but that’s what rooftop patios are for. And with that, the shitshow began: where can we get a ladder? And not just any ladder—a ladder of a specific height.

Okay, so now I’m calling a friend on my street who—Murphy’s Law—happens to be in NYC on business. Thankfully, she answers and thinks she has the right type of ladder. Then I have to reach out to her husband, which I promptly do after she shares his number. Thankfully, he answers—yes, he’s home, yes, he has the ladder.

So here I am, climbing into the roofer’s truck—clearly not expecting passengers—while it’s still pouring rain. We make it to the end of my street and, after some back and forth, leave with the lighter ladder with fewer features (it doesn’t wash the dishes). Back to my house. Naturally, some Uber is parked across the edge of my driveway, which hadn't been an issue earlier when the roofer just parked in front of my neighbor’s garage. Thankfully, the driver saw that I looked partially disheveled and clearly on the verge of a nervous breakdown and promptly vacated the spot. This didn’t stop the roofer from blocking my other neighbor’s driveway—because why not?

Finally, we make it to the top level. Still pouring rain. He gets on the roof. I’m lighting a candle, expecting to see him fall through one of my skylights any second.

Eventually, he comes back. Diagnosis? Uncertain. Could be a pipe. Of course, it started leaking during torrential rain—it must be a pipe! Oh wait, there’s no pipe in that room. Could be the neighbor’s skylight. He shows me pictures of how badly the neighbor’s skylight was installed. But based on its location—even if there is a problem—I really don’t see how we’d be affected. Not the top candidate. Could be one of our fans—maybe getting warmer. But based on the photo, there’s no water accumulation around the fans, and the water seems to accumulate in a spot above… hmm. Seems like a clue that the issue is actually right there. Then: could be our fireplace exhaust. And then—ta-da—a picture of the exhaust, not only rusty but corroded, with a massive hole in it.

I’ll spare you the many back-and-forths related to the leak, but—as always—every experience is an opportunity for reflection.

First: who on freaking earth shows up to inspect a roof without a suitable ladder?

Second: the roofer and his team had been on this roof many times over the past five years and never thought to mention that the fireplace exhaust was damaged? That didn’t seem like valuable information to share?

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Third: I assume roof leaks are pretty standard for a roofer. So how did this become a game of "spot the 7 differences"? I’d think there are obvious ways to test where a leak is coming from. Put some dye in the high-suspicion areas and see what color shows up in the bedroom, for example. I haven’t ChatGPT’d it, but I’m pretty sure there’s a structured decision tree to track a leak—probably 10 ways to do it efficiently. Which brings me to my fourth point…

Every possible reason—even the most random—was thrown out except the most obvious one: the brand new, still-under-warranty roof is leaking.

⁉️So What Do We Learn?

That fiduciary duty should be extended to any relationship based on asymmetric information and expertise.

What is fiduciary duty, exactly? TY Google for the following definition:

“A fiduciary duty is a legal and ethical obligation of a person (the fiduciary) to act in the best interest of another person or entity (the beneficiary). It involves a relationship of trust and confidence, where the fiduciary is entrusted with powers and responsibilities for the benefit of the beneficiary. Fiduciary duties are often implied in certain relationships, such as between a lawyer and client, a director and a corporation, or an agent and a principal. The most common fiduciary relationships involve legal or financial professionals who agree to act on behalf of their clients.”

“Generally, a roofer does not have a fiduciary duty to their client. Fiduciary duties are a high standard of care, requiring a party to act in the best interests of another.”

So expecting a party to act in the best interest of another is not a basic requirement in most commercial relationships—excluding law and finance (more or less). Ironically, I’m better equipped to pressure-test my lawyer or financial advisor than I am my roofer or car mechanic.

Why the double standard? I doubt the average person knows more about construction or mechanics than they do about finance or law. Shouldn’t we assume we’re all vulnerable when it comes to specialist knowledge?

In the very straightforward context of this leak, fiduciary duty would have meant: 1) the roofer shows up with a ladder, 2) he tells us years ago that the exhaust is damaged, and 3) he takes responsibility that the brand-new roof he installed might be leaking. But he’s not obligated to do any of that. His only obligation was to install the roof—properly or not seems to be up to his discretion. Maybe offering him a coffee helps? Not even sure anymore.

In an ideal world, we wouldn’t need fiduciary protections. We’d all be ethical, and all would be well. But we don’t live in that world. In this one, integrity is seen as boring, nitpicky, and business-unfriendly.

Which is why trust matters even more. And micro-social recommendations. Can you trust a Kardashian to point you to the best product for you? Probably not. But your friend? Probably yes. That’s why the rise of micro-social networks, niche communities, and micro-influencers is one of the most significant trends shaping the digital and social landscape today.

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Since we can only hope that the other side of a commercial relationship will act in our best interest—at a time when everything seems to be monetized and monetizable—having trustworthy people around us is key. Of course, that brings its own challenge: loyalty, nepotism, incompetence—“Yes, he sucks, but I trust him.” But that’s a topic for another time.

So what did we learn?

In any relationship, keep an eye on:

• Who has a conflict of interest?

• Who has integrity?

• And never underestimate the power of a second, unbiased opinion. 😉

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

🏒What the Maple Leafs’ Playoff Defeat Can Tell Us About the Corporate World

I don’t follow sports. But living in Toronto, even I couldn’t escape the Maple Leafs playoff drama. The story unfolded for me in fragments—each conversation offering a curious window into not just hockey, but power, politics, and performance.

First, a friend cheerfully told me the Leafs were up 2–0. But she quickly added, “Don’t get too excited—they haven’t won in decades.” Fifty-seven years, to be exact.

Then came another update: 2–2. This friend made an unusually astute comment: “They get paid per game played. Of course they all want seven games.”
Indeed, players receive compensation for each playoff appearance. And beyond player compensation—sponsors, TV rights, venues—everyone makes more money when there are more games. It was a bold comment from my friend. Every time I’ve dared to hint at conflict of interest (or even light corruption) in sports, I’ve usually been met with indignation.
Not in my sport! Right.

At 3–3, someone else updated me again—this time to complain about players choking under pressure. Some rise. Others collapse. That’s the playoffs.

And finally: 1–6. The Leafs lost. Fans hurled their jerseys onto the ice in protest.
I shared this with my husband—not a Leafs fan, but a former player—and he got visibly annoyed.
“Do you know how many couch critics I’ve heard scream strategy who can’t even skate five feet?”
Fair. He empathized with the players.

Until I asked him:
“How many times could you choke and fail at your job before getting fired?”
That made him pause.

Because here’s the thing.
If a mid-tier hockey player chokes in a high-stakes game, he might not get re-signed.
But if a top-league player fails to perform? He’ll likely be back next year. And the year after that. He’s already too big to cut loose.

That’s what fascinates me—not the sport itself, but the double standard it reveals.
The “too big to fail” mentality—but applied to individuals.

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Same in the corporate world.
If a CEO tanks a strategy, they don’t get fired—they eventually (read: after years) “resign to spend more time with their family.”
But an executive two levels down? Miss your numbers?
Bye-bye. Thanks for playing.

Why is that?

Because once you're at the top, failure becomes too embarrassing—and too expensive—to address.
Too many people vouched for you. Too many reputations are invested in your success.
The board doubles down. The coach “stands behind his players.”
Narratives of resilience are spun.
We all nod, pretending this major screw-up was actually…a great learning opportunity.

“We’ll be stronger because of it.”
“This was necessary for our evolution.”

We’ve heard the script. Watch how quickly everyone aligns.

Recently, I was chatting with a Managing Director at a PE firm.
To get the job, he went through 13 interviews and a full case study.
How many interviews do you think his CEO had to go through? I’d bet not 13.
So why is someone four levels below getting more scrutiny?

This isn’t a rant about how high earners “shouldn’t be allowed to be human.” That’s not the point.
People are people—at the top or bottom of the food chain.
But why is compassion and leniency extended more generously upward than downward?
Shouldn’t it be the other way around?

Why do we normalize this?

We’ve seen similar dynamics in other sports.
In tennis, for instance, there’s been a lot of noise around harsh sanctions for low-ranked players—while top stars, like World No. 1 Jannik Sinner, receive far more lenient treatment for similar infractions.
The higher you go, the more grace you seem to be granted.
Why?

So next time you’re hiring an intern, ask yourself:
Who faced more scrutiny—your intern, or you?
And what does that say about the system?

Food for thought.
Peggy

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

💸How to Unlock Growth, Profitability, and Resilience Without a Single Acquisition

In finance, we’re wired to look outward—chasing the next deal, the next merger, the next growth story. But what if the biggest opportunity isn’t “out there”? What if it’s sitting quietly inside your business—or your client’s—waiting to be activated?

In a recent talk with financial services professionals, I challenged that M&A reflex—and offered a smarter, more strategic approach: adopt a private equity (PE) mindset to drive real, sustainable value from within.

This isn’t about financial engineering. This is about operational discipline, strategic clarity, and cultural alignment—the levers top-tier PE firms pull every day to create enterprise value. The best part? You can use these tools without a deal, a board shakeup, or a capital injection.

Let’s dig in.

💡 Why Internal Value Creation Beats M&A (Most of the Time)

70–90% of M&A deals fail to create value. Many destroy it.

So why are we still acting like growth is something you buy?

External growth is expensive, risky, and hard to control. Internal value creation? It’s faster, more capital-efficient, and often overlooked.

Whether you're running a company or advising one, now is the time to recession-proof by optimizing what you already own. The smartest businesses today are shifting from “buy” to “build.”

It’s time to shift focus—from growth at all costs to value on purpose.

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🔍 The Value Creation Playbook: A Strategic Framework in 3 Pillars

Forget the old-school play of slashing costs and piling on debt. This framework is about increasing the intrinsic value of your business—just like top-tier PE firms do with their portfolio companies.

1. Strategic Clarity

The biggest unlock for value is focus.
Know your core. Double down on what works. Exit the distractions.

➡ Identify what truly drives value in your industry—recurring revenue? IP? Customer retention?
➡ Get crystal clear on product profitability, customer segmentation, and complexity costs.
➡ Align your resources accordingly.

✅ Takeaway: Value starts with knowing what truly drives it. Align capital and effort there.

🧠 Pro tip: Strategy is only powerful when it's specific. A clear 80/20 view will do more than any rebrand or new hire.

2. Operational Excellence

This is not about slashing costs. It’s about doing more with what you already have.

➡ Eliminate waste (process bloat, excess inventory, underutilized systems)
➡ Invest in automation, digitization, and lean operations
➡ Leverage AI where it actually matters (not just for PR)

✅ Takeaway: You can’t cut your way to greatness, but you can fund growth by plugging the leaks.

🧠 Pro tip: Value creation doesn’t need to be revolutionary. It needs to be deliberate.

3. Cultural Alignment

Culture is not a “soft” topic. It’s a hard driver of execution.

➡ Are your people clear on priorities?
➡ Are they rewarded for outcomes?
➡ Are they continuously improving?

If the answer is no, no amount of strategy will save you. You don’t just need the right roadmap. You need the right drivers.

✅ Takeaway: Strategy sets the direction. Culture determines whether you get there—or stall out halfway.

🧠 Pro tip: Embed accountability at every level. Align incentives with value creation, not just activity. If no one owns it, it doesn’t get done.

🧰 Think Like PE—Without Selling to PE

Private equity isn’t just about capital. It’s about discipline.

Imagine bringing PE tools—100-day plans, KPI dashboards, pricing strategy—to your business or client portfolio. No deal required. Just the mindset and the method.

You don’t need to sell your company or take an investor to operate like a world-class firm.

This is what top PE firms bring to the table post-deal. But why wait? Use the playbook now—without giving up equity.

📈 In This Market, Internal Value Creation Isn’t a Nice-to-Have. It’s Survival.

With macro headwinds mounting—higher rates, inflation, geopolitical instability—the margin for error is thin. Businesses need to move now to become more resilient, more profitable, and more focused.

So I’ll leave you with one question:

💬 What value are you leaving on the table today?
Because that’s where your next 20% upside lies.

If you’re looking for an advisor, speaker, or board member who can bring a practical value creation lens to your company or clients—let’s talk. You can connect with me directly or reach out through my speaker agent, Shari Storm.

Let’s build value on purpose.

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Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

🧠 Founders, Play Your Own Game

Hi. Hello. Hello. 👋

Today’s guest is a dear friend, a repeat podcast guest, and someone I respect enormously for his deep thinking and straight talk: Brice Scheschuk.

If you know Brice, you already know he’s built, scaled, exited, and reinvested with wisdom. If you don’t, here’s the gist: he’s an operator turned investor with a rare lens—130 direct startup investments, 50+ VC fund LP positions, and most importantly, no one to please but the truth.

We ran into each other recently over drinks, and Brice shared his latest keynote: "Founders, Play Your Own Game."
It’s part tough love, part strategic blueprint. And it resonated with me on every level. You can find the link to his presentation here.

Here’s what we explored—and why every founder, funder, and advisor in the innovation ecosystem should read this.

🚨 The Most Consequential—and Irreversible—Decision a Founder Makes

Brice calls it out plainly: raising capital is not just a milestone—it’s a turning point.

Once you take money, especially VC money, you commit to a set of expectations that can change your culture, control, governance, and trajectory. The math changes. The growth expectations accelerate. The room for error shrinks.

My take: “It’s like a favor with the mafia. Once you’ve shaken that hand, you’re in the game.” ;-)

His core argument? Most founders don’t understand the rules of the game they’re entering. And worse, the ecosystem’s conventional wisdom makes it sound like VC is the only game in town.

📉 The VC Narrative: High Valuation, High Velocity… High Risk

Brice breaks down the past decade of venture into three chapters:

• 2016–2019: Risk-on boom and valuation creep

• 2020–2021: Pandemic stimulus, zero rates, digital hype—and a bubble that rivals Dotcom 1.0

• 2022–today: Reality check, capital contraction, and now… the AI frenzy

Most companies that raised big during the hype years are now struggling, gone, or playing catch-up. The capital created a treadmill they weren’t ready to run.

“99.9% of the oxygen in the ecosystem is about why to raise VC. But 99.9% of companies shouldn’t raise it.”

Oof. Let that sink in.

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🧭 Raising Capital (or Not) Is a Strategic Identity Question

So how do you know if raising capital is right for you?

Brice’s checklist is as nuanced as it is practical:

✅ Do you deeply understand your market, product, customer, and go-to-market math?
✅ Are you building something truly venture-scale—or just using the wrong financing for your actual growth model?
✅ Are you ready to lose some control to gain some capital?
✅ And most importantly: Who are you building for—and what kind of entrepreneur do you want to be?

He uses Shopify’s Tobi Lütke as a model: six years of patient exploration, only $1M raised, and a culture defined before VC ever entered the picture.

Contrast that with the standard: Demo Day, deck, $3M on $30M valuation, little customer insight, and a power-law investor expecting a billion-dollar exit. That’s a mismatch—and a slow-motion car crash.

🧠 Invert, Always Invert: The Power of Counter-Narratives

Brice is a fan of Charlie Munger, and his advice follows Munger’s “inversion” principle: figure out where failure lives and avoid it.

That means:

• Model your business as if you had to bootstrap it.

• Build in plateaus. Assume the hype fades.

• Explore non-dilutive capital: consulting, grants, debt (when rational).

• Cut the clutter. Funded startups often spend because they have to, not because it makes sense.

In short: raise less, learn more, grow cleaner.

🧘‍♂️ Mindset Wins: Entrepreneurial Resilience Isn’t Optional

Brice also teaches a workshop on entrepreneurial resilience, rooted in 100+ expert interviews and years of observing founders under pressure. He breaks resilience down into:

• Personal: self-awareness, stress recovery, habits

• Team: decision hygiene, communication, cognitive load

• Organizational: governance, culture, structure that supports—not drains

“The 81st hour of the week might be better spent outside your business. It could save your next 80.”

This isn’t fluff. It’s a corrective to hustle culture, which has done real psychological and financial damage to founders.

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🔁 Conventional Wisdom? Strike It Out.

Brice’s final mic drop?

He wears a T-shirt that says:
“Conventional Wisdom” (with a red strike-through).

Everything you’ve been told—do the accelerator, avoid services revenue, raise fast and big—deserves a second look. The better path? One that fits your business, your goals, and your life.

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🧩 Takeaways for Founders (and Funders)

1. VC is a tool, not a destiny. Use it if and when it fits. Not before.

2. Founders must own their financing strategy. Don’t abdicate to what’s fashionable.

3. Building lean is not a bug—it’s a Canadian superpower.

4. Control is underrated. Dilution is forever.

5. The right capital, at the right time, for the right reasons. That’s the game.

And that’s the message we need to amplify across the Canadian tech ecosystem.

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Thanks again to Brice Scheschuk for bringing such clarity, candor, and courage to this conversation.

🎤 We'll definitely have him back in the fall—for a deep dive into resilience and the founder psyche.

Until then: Play your own game.

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

💸Value Creation: A Personal Playbook from the Past 25 Years

In the past 25 years, private equity has approached value creation in a more and more operational way (at least among the top players). It evolved from “put a shitload of debt on this business and cut costs drastically” to building teams of operational partners (or portfolio managers, or value creation experts—depending on the lingo of the moment).

There’s still a long way to go. The ratio of three investors for every one value creation expert—and compensation structures that sit on a different grid—make it far from ideal to fully support a real value creation agenda.

And let’s be clear: this evolution wasn’t driven by a sudden desire to do better by businesses. The shift was forced by economics. Near-zero interest rates are gone. The easy money that fuelled mega-funds, sky-high valuations, and financial engineering has vanished. Volatility is back. Trade tensions and tariffs are rising. Growth is slowing. And the cracks are showing.

The challenge isn’t that private equity no longer works.
It’s that the rules have changed—and most players haven’t.

Exits are harder. Continuation funds—once frowned upon—are now necessary lifelines, though not without scrutiny. LPs are asking tougher questions as they wait longer for distributions. And in this environment, value creation isn’t just a buzzword—it’s survival.

And not just cost-cutting or “synergy capture.” We’re talking about real, operational value creation:

• Launching new revenue streams

• Serving customers in smarter, more digital ways

• Using AI (yes, actual tools available today—not R&D dreams) to boost precision, decision speed, and outcomes

• Embedding technology at the core of transformation, not the periphery

Too many portcos still run like it’s 2005. But PE firms that embed digital strategy and operational excellence at the center of their playbook will be the ones who deliver returns—and earn the right to raise again.

Private equity isn’t dead.
But the multiple expansion party is over.

It’s time to get back to building businesses. Strategically. Intelligently. Creatively.

Some top-notch funds were already doing this 20 years ago. Some are discovering it the hard way now. Yes, PE is in trouble—and same old, same old won’t cut it.

I’ve been in value creation—or transformation/innovation, depending on the buzzword of the decade—for pretty much my entire career. I’ve always taken pride and pleasure in maximizing the value of an asset. Over the past 25 years, I’ve seen the good, the bad, and the ugly. What follows are some of those experiences—and the best practices I’ve carried with me, relevant both inside and outside of PE.

🍪United Biscuits (France): My First Foray into PE Value Creation

Right out of business school in the early 2000s, I worked in finance at United Biscuits, a snack manufacturer in France owned by Blackstone and PAI Partners. This was my first exposure to PE—via a portfolio company—and I couldn’t help but admire the discipline: going through absolutely every line of the P&L (and balance sheet) and linking it to a value creation initiative.

And I say value creation—not just cost cutting. Yes, we cut costs. But a lot of those savings were directly reinvested in the business.

We improved packaging—not just by using cheaper material, but by making it trendier and more fun. We automated and expanded production lines and increased our global footprint (that’s when I first heard of Costco:)). We upgraded the ERP and brought technology to the shop floor.

I was responsible for tracking and reporting the progress of dozens of these projects to management—meaning I had to understand each one in detail. This was my first real fire test in operational value creation. That experience sharpened my interest in the space and gave me firsthand exposure to what the best PE firms can bring to their assets.

And it challenged the lazy stereotype that PE is only about debt loading, pension raids, and layoffs. What I saw was a thoughtful, highly structured effort to grow value—with strategic reinvestment, clear governance, and disciplined execution.

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💻CGI (Canada): Bringing PE Thinking In-House

After crossing the Atlantic, I joined CGI. Not a PE firm—but an organization (and management team) that deeply understood how to grow enterprise value.

This was my first foray into tech. Around 2006, CGI positioned itself as a service company (a body shop) despite owning a wide suite of software solutions—used everywhere from defense to U.S. federal government, to major North American financial institutions.

The then new CEO, Mike Roach, saw what others didn’t: a gold mine of undervalued software assets, and a stock price that didn’t reflect their potential.

I was brought in as part of a SWAT team to rethink the software strategy: we restructured delivery models to grow recurring revenue (and thus attract higher multiples), automated and offshored low-value activities, and made tough calls on where to double down in product investment and where to sunset.

This approach worked. The company created long-term value. The stock climbed. And yes, my stock options benefited too. But what stayed with me was how powerful this combination of strategic independence and operational discipline could be.

But more importantly, CGI showed that this kind of value creation doesn’t require external consultants. We didn’t outsource the brainwork. We did it all in-house: no knowledge leakage, no future competitors trained on our dime, and no seven-figure consultant invoices.

One of CGI’s great strengths was its ability to apply PE-like portfolio logic within a corporate structure. It looked at each of its business lines not as cogs, but as standalone value drivers—with their own metrics, leadership, and performance levers. Head office didn’t command; it enabled.

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🏢Financial Institutions: The Missed Opportunity

Contrast that with what I later observed in financial institutions. The idea of managing businesses as independent value drivers just isn’t how banks or insurers typically operate. It’s either too macro or too micro.

Annual strategy reviews and tech capital allocations happen by business unit and roll up to a company-wide view—but the BUs are so large and fragmented that it becomes just an amalgamation of micro data points.

The result? A mountain of information, lots of reporting, massive resource allocation for processes that don’t really tie to value creation.. It becomes business-as-usual with incremental improvements—at best.

There’s also a pattern: big-bang transformation plans led by consultants: “Keep only six levels of hierarchy—save costs by firing the middle management (how useless!)” Or massive tech overhauls that fail quietly when the system glitches and everyone reverts to Excel. Or micro-level cost-efficiency efforts.

What I rarely see is a value creation approach starting from this simple but powerful question: What are the metrics that drive enterprise value in this business? Even if it’s not a standalone company, the question still applies. Let’s take the asset management groups in large banks. What if they were spun off tomorrow? How would they be valued? Then—and only then—should we look at the levers of value creation with that end state in mind. Versus macro or micro entry points.

CGI was good at this. They gave business lines autonomy—but with discipline, guidance, and friction. It creates healthy tension and accountability—traits that don’t always align with FI culture. But if institutions want real value creation, that’s the price.

🔭A Broader View: What I’ve Seen in Other Industries

After working across multiple industries and with companies of all sizes, I’ve developed several go-to litmus tests and because I’ve done a lot of digital transformation work, my eye tends to go there—especially since it’s often where the most value is hiding.

• Are the founders highly technical and involved in strategy? Usually means too much capital in product, not enough in commercialization.

• Is the CTO homegrown? If yes, digital transformation opportunities usually abound—new offerings, efficiency plays, customer experience, AI agents.

• Where is the company located? U.S. and Israeli firms tend to be strong in commercialization. Elsewhere, often a weak spot.

• What’s the cap table? Bootstrapped companies tend to be capital efficient. Those with large VC rounds often are not.

• Where are they in the lifecycle? Series F and stable businesses both have transformation potential—but of very different kinds. Digital transformation is often the priority for mature companies.

💰Where Real Value Creation Happens

Ultimately, value creation starts with the exit in mind—and a clear grasp of what multiples are used in that industry.

The most effective value creation experts combine horizontal and vertical expertise. For example, take healthcare or financial services and layer in digital transformation or sales and marketing reinvention.

It’s not enough to be a subject matter expert. You need someone who’s seen playbooks across industries and knows how to adapt them—not just repeat them.

Value creation is not about theory. It’s about connecting the dots between real-world outcomes. And today, digital transformation is often the most powerful connector.

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Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.

💪 Elbows Up: Why Repealing Anti-Circumvention Laws Is a Smart, Strategic Move for Canada

I recently read a fascinating article in the Financial Times—The digital countermove to Trump tariffs—and while it framed the issue as a geopolitical trade tactic, it sparked a deeper thought: repealing anti-circumvention laws may be one of the most underrated economic levers Canada can pull.

In the face of escalating tariffs, trade weaponization, and U.S.-centric tech monopolies, it’s time for Canada to put its elbows up—not with more tariffs, but with smarter regulation.

Specifically: repealing anti-circumvention laws.

🔐 What Are Anti-Circumvention Laws?

Anti-circumvention laws make it illegal to bypass digital locks—also known as Digital Rights Management (DRM)—even when a consumer has legally purchased the product. These laws apply to devices and software ranging from smartphones and tractors to e-books, printers, and household appliances.

Here’s what that means in practice:

• You can’t legally unlock your phone to use it with another carrier.

• You can’t use third-party software or parts to repair your own equipment.

• You can’t develop tools or products that integrate with locked systems—no matter how legitimate the purpose.

These laws were introduced in the U.S. under the DMCA (Digital Millennium Copyright Act) in 1998. The DMCA was designed to prevent piracy in the early internet era—but it also introduced sweeping restrictions that favored copyright holders over users.

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🌍 How Did These Laws Come to Canada?

Countries like Canada adopted these laws largely to comply with U.S.-led trade agreements—most notably the USMCA (United States-Mexico-Canada Agreement), which replaced NAFTA in 2020.

To avoid trade barriers and ensure access to the U.S. market, Canada agreed to adopt DMCA-style provisions, including the protection of digital locks—even if those locks restrict fair use, repair, or innovation.

In doing so, Canada handed over an enormous amount of economic and technological control:

• Our consumers became dependent on U.S. tech ecosystems.

• Our innovators were legally restricted from building around those ecosystems.

• Our digital sovereignty eroded—not through data theft or hacking, but through copyright law.

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💸 The Real Cost: Underestimated, But Enormous

While it’s difficult to quantify precisely, the financial implications of these laws are far-reaching—and likely underestimated:

• Monopoly Pricing & Lock-In
  Anti-circumvention rules help big tech players lock consumers into proprietary systems. This business model protects billions in revenue annually for U.S. firms. Companies like Apple, Amazon, and Microsoft generated over $2 trillion in global revenues in 2023 alone, with a substantial portion linked to locked ecosystems and restricted third-party access.

• Suppressed Innovation
  Canadian startups, researchers, and repair shops are legally blocked from improving, modifying, or even accessing many systems. The result? Lost opportunities for homegrown IP, stalled competition, and barriers to commercialization in fast-growing tech sectors.

• Repair and Sustainability Losses
  The global repair economy exceeds $100 billion a year, and anti-circumvention laws effectively bar Canadians from fully participating. Consumers are forced to replace rather than repair, pushing unnecessary spending toward original manufacturers and away from local businesses. It’s a tax on functionality—and it’s bad for the environment, too.

• Strategic Dependence
  These laws entrench Canada’s reliance on U.S. tech platforms and digital infrastructure. The hidden cost? Diminished bargaining power in digital trade, weaker domestic alternatives, and a system that exports not just money—but influence.

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🧰 If You’ve Ever Tried to Fix Your AirPods Max…

Anyone who’s ever attempted to repair their Apple AirPods Max, washing machine, or car infotainment system knows exactly what this is about.

And don’t even get me started on planned obsolescence—that delightful design feature where your device mysteriously dies the week after your warranty expires.

The system isn’t broken. It’s working exactly as designed—and consumers, innovators, and the planet are paying the price.

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💪Elbows Up: A Canadian Way to Push Back

This isn’t about chaos or copyright theft—it’s about restoring balance.

Repealing anti-circumvention laws would allow Canada to:

• ✅ Empower consumers to repair and adapt their own devices

• ✅ Enable startups to build around existing technologies

• ✅ Grow a sustainable, competitive tech economy

• ✅ Reduce foreign monopoly rents and reclaim economic value

• ✅ Strengthen digital sovereignty in an era of rising protectionism

Rather than retaliate with tariffs—which often backfire—this is a calm, intelligent, and high-impact policy move. It reflects our values, protects our future, and levels the playing field without violating trade rules.

It’s what "elbows up" looks like when we lead with strategy, not slogans.

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🧠 Final Thought

In today’s economy, control doesn’t just happen at the border—it happens in code, contracts, and copyright clauses.

Repealing anti-circumvention laws may seem technical, but it’s deeply strategic. It’s about reclaiming the right to innovate, repair, compete—and thrive—on our own terms.

Peggy Van de Plassche is a seasoned advisor with over 20 years of experience in financial services, healthcare, and technology. She specializes in guiding boards and C-suite executives through transformational change, leveraging technology and capital allocation to drive growth and innovation. A founding board member of Invest in Canada, Peggy also brings unique expertise in navigating complex issues and fostering public-private partnerships—key elements in shaping the Future of Business. Her skill set includes strategic leadership, capital allocation, transaction advisory, technology integration, and governance. Notable clients include BMO, CI Financial, HOOPP, OMERS, GreenShield Canada, Nicola Wealth, and Power Financial. For more information, visit peggyvandeplassche.com.