Founder Mode - 21 Oct 2026

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State of Product reveals what AI still hasn’t solved

80% of product professionals say AI helps them ship faster, but customers aren’t seeing value any sooner. Atlassian’s State of Product 2027 explores the gains AI is delivering and the challenges that remain, from decision-making that hasn’t kept pace to gut instinct overriding customer evidence.

Read the report

Hi there,

Welcome back to Founder Mode! If you missed the opportunities radar, it’s back.

It's been a while since the last issue of Founder Mode. Plenty has happened, and I thought it was about time to get this going again. A big warm welcome to the ~989 new subscribers!

But first, can we talk about the new Tesla Roadster?

My jaw dropped the when I first saw the live stream. Tesla has demonstrated a car that can drive upside down, fly briefly through the air and accelerate from 0 to 60 mph in less than a second. It's like something straight out of science fiction. Marketing stunt or not, this is what I love about innovation and ambitious engineering.

Meanwhile, the AI world hasn't slowed down either. New models keep appearing, Meta's Muse is gaining traction at an incredible pace, and AI agents are becoming increasingly capable.

There's also plenty happening on the StartupX front, with some interesting international opportunities and events coming up.

Thanks for reading!

🔥 Top Finds

Meta's Muse Is Growing Fast
Meta's personal AI agent Muse launched in September, and reports suggest it surpassed millions downloads in its first month with only the North American launch.

Meta's distribution advantage shows that it's still very much in the AI race. It already has billions of users across Facebook, Instagram and WhatsApp, and increasingly capable AI models.

Is AI Becoming the Biggest Risk to the Global Economy?
The International Monetary Fund (IMF) is warning that a sharp correction in AI investment could reduce global GDP by 1.1% by 2028. I think AI is absolutely transformational, but there's a difference between believing in the technology and believing that every dollar being poured into it will generate a return.

We've seen this before with the dot-com boom. The internet changed everything, but that didn't mean every internet company was worth its valuation. The same is true for AI.

Miro's $17.5 Billion Valuation Comes Back to Earth
Remember Miro? The collaborative whiteboarding platform that “everyone” was using during the pandemic?

Bending Spoons has agreed to acquire the company in a $1.36 billion cash deal, a fraction of Miro's $17.5 billion valuation back in 2021.

Here's the interesting part: Miro reportedly has around $600 million in annual recurring revenue, more than 100 million users and is profitable. But the market has changed, and so have the valuations investors are willing to pay for software companies.

Bending Spoons has also acquired Airtable and this interview is a great place to start understanding their model.

Websites Are Starting to Block AI Agents
OpenAI, Meta, Google and others are building agents that can browse websites, make purchases, book things and complete tasks on our behalf.

But many of those websites aren't particularly interested in letting AI agents in. Companies like Amazon, Delta and several financial institutions have restricted automated access, citing security, commercial and policy concerns.

It's an interesting contradiction. We're building increasingly capable AI agents, but much of the internet wasn't designed for them. There's a big opportunity for companies working on the infrastructure, standards and trust needed to make agentic AI more useful.

🎯 Opportunities Radar

1. [SG] The California Experience SWITCH Pre-Event
Singapore | 26–29 October 2026

As part of SWITCH 2026, we’re hosting 8 California organisations in Singapore, including UC Berkeley Bakar Labs, UC Riverside, San Diego State University and UC Davis' Aggie Square.

Great for startup and enablers exploring US market entry, soft-landing support, research collaborations and commercial partnerships.

• 26 Oct, 6:00–8:30 PM: California networking reception.

• 27–29 Oct: Request curated 1-on-1 meetings with the California delegation during SWITCH at Marina Bay Sands by replying to this email.

2. [HK] HKTDC Entrepreneur Day
Hong Kong | 19–20 November 2026

Join a StartupX-led delegation to explore Hong Kong and Greater Bay Area business opportunities, including networking and facilitated business matching.

Eligible delegates may receive one sponsored hotel night or up to HKD1,100 reimbursement. Flights and other expenses are self-funded.

Deadline: 26 October. Limited places. More information

3. [MY] Cradle LIVE! Summit
Kuala Lumpur | 4–5 November 2026

Explore ASEAN market opportunities, corporate partnerships and investor connections through startup showcases and networking.

StartupX is supporting a curated corporate-startup matching initiative with regional corporates. Meetings are subject to selection; the organiser's ASEAN CrossConnect matching requires a VIP Pass. If you are in corporate innovation and interested in joining as part of our delegation, please reach out to me. More information

4. [JP] SEMICON Japan
Tokyo | 9–11 December 2026

We're considering a delegation with Japanese partner, including potential corporate 1-on-1 meetings and a pitch event with Yokohama Tech Hub. Expressions of interest are open. Ideal for startups in semiconductors, AI, robotics, electronics and advanced manufacturing exploring Japan. More information

5. [JP] SusHi Tech Tokyo
Tokyo | 20–22 May 2027

A major international startup gathering offering exhibition, investor networking, corporate connections and pitch competition opportunities.

StartupX is collecting interest for a potential delegation. Standard exhibition booths cost JPY300,000; pitch applications are separate.

Application opens now. More information

6. [CN] HICOOL 2027 Global Entrepreneurship Competition
Beijing | 2027

For technology startups exploring China market entry, investors and potential competition funding.

First-prize awards of RMB 2 million, alongside other prizes and potential landing support, subject to eligibility. StartupX can assist with referrals and application coordination.

Application opens now. More information

Interested in any of these opportunities?

Simply reply to this email with the opportunity number(s) you're interested in, and we'll follow up where there's a suitable fit.

Alternatively, register your company through our interest form:

If you've registered with us before, there's no need to fill in the form again. Just reply with the opportunities you're interested in.

Hope to see you at one of these opportunities.

🛠 Tool of the Week

Happenstance

Search your professional network with natural language. For example, ask who can introduce you to venture capital investors, potential customers or specific companies.

Particularly relevant to founders who rely on warm introductions. It can map relationships across connected accounts.

💬 Founder Mode Quotes

🙂 Fun Mode

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