The VC view: Defensibility during the rise of AI-native companies
May 5, 2026
Shannon Scott sits down with Paul Bassat, Co-Founder of Australian VC firm Square Peg, to unpack what actually sets AI winners apart. They talk about why it’s not about chasing new tools, but tackling problems that weren’t solvable before, how founders can move quickly without losing focus, and why having strong conviction, loosely held, matters more than ever. The conversation offers a practical lens on identifying real AI opportunities, navigating constant change, and building companies that last.
The VC view: Defensibility during the rise of AI-native companies
In this episode of The Airwallex Podcast, Shannon Scott sits down with Paul Bassat to unpack what actually sets AI winners apart. They talk about why it’s not about chasing new tools, but tackling problems that weren’t solvable before, how founders can move quickly without losing focus, and why having strong conviction, loosely held, matters more than ever. The conversation offers a practical lens on identifying real AI opportunities, navigating constant change, and building companies that last.
What you will learn:
- Where the most durable moats come from for businesses navigating the AI boom
- How VCs recognise world-class founders in the AI era
- What questions investors are now asking around safety, trust, and compliance
- The infrastructure and tech challenges that still slow global growth
- How to avoid the trap of starting with technology instead of problems
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Paul Bassat is the Co-Founder of Square Peg, an Australian venture capital firm, and a seasoned early-stage investor known for his expertise in identifying transformative technology trends. With a background spanning the internet era as the founder of SEEK (1997) and two decades of venture investing, Paul brings deep insights into how disruptive technologies reshape industries.
Shannon Scott is the Chief Product Officer at Airwallex, bringing deep expertise in product strategy and the architectural design of complex financial platforms. With over six years at Airwallex, Shannon has been instrumental in expanding the platform from cross-border money movement into an AI-native finance platform for global businesses.
Episode Resources: