Latest news with #Gull
Int'l Business Times
3 days ago
- Business
- Int'l Business Times
Jamie Gull's Perspective on Why Deep Tech Is Where the Next Wave of Innovation Lies
The world of venture capital is undergoing a structural realignment, one that rewards depth over speed, hardware over code, and defensible engineering over flashy repetition. At the center of this shift stands Jamie Gull, founder of Wave Function Ventures, a fund dedicated to pre-seed and seed investments in deep tech sectors like aerospace, energy, and robotics. With an experience that spans building reentry hardware at a renowned aerospace manufacturer, designing aircraft for an American aerospace company, and founding deep tech startups himself, Gull brings an insider's clarity to a rapidly evolving investment landscape. "Deep tech was long seen as too risky, too expensive, and too slow," Gull explains. "But the data and outcomes over the past decade tell a different story." Indeed, many early-stage investors have historically favored software startups for their low upfront capital needs and quick time to market. But Gull argues that the advantage is evaporating. "Back in the early 2000s, you could spend a few million, build a team of engineers, and get to market quickly," he says. "Now, IPO timelines for software have stretched to seven to 10 years. Software companies are spending huge amounts on customer acquisition and defending turf from competitors who can replicate products overnight, especially in the AI era." The old assumption that software scales cheaply and defensibly is proving false. "Your moat in software today is often just capital," he says. "In deep tech, it's the opposite. The upfront costs are higher, sure, but once you have built it, it is extremely hard to replicate." Gull's own investment track record underscores this conviction. His fund, Wave Function Ventures, has deployed capital into companies building humanoid robots for heavy industry, airships for transoceanic cargo, and advanced nuclear reactors. Many of these deals were oversubscribed, and Gull attributes his access to his founder-engineer background. "Founders want someone on the cap table who understands what it takes to build and scale real technology," he says. "That's where I come in." But Wave Function is not investing indiscriminately. Gull is openly cautious about sectors like space. He looks for niche, underexplored opportunities in space, not pie-in-the-sky ideas, and not overhyped data plays. His skepticism is not negativity; it's strategy. "You have to thread the needle between too speculative and too saturated," he explains. This nuanced view is shaped not just by sector analysis but also by career experience. After five years at a renowned aerospace manufacturer, where he worked on the aft thermal shield for the Falcon 9, a key part of the rocket's reusability, Gull co-founded a satellite antenna company and later, a startup focused on electric vertical takeoff and landing aircraft. He says, "I learned how to raise capital, win defense contracts, and build complex hardware at speed." It also gave him empathy for the founders. "Early-stage deep tech founders often face challenges that software peers don't understand, technical risk, regulatory hurdles, and long timelines. But they are also building something truly defensible. Something that matters," Gull shares. Part of what makes now the ideal moment to lean into deep tech is a confluence of positive forces. First, the talent pipeline. "Industry giants created a flywheel. They inspired a generation of engineers to build ambitious hardware," Gull says. "There are now enough experienced founders, and they are pulling in younger talent who want to do more than push pixels." Second, support from governing bodies has meaningfully improved. "Traditional programs used to be inefficient. Now, early-stage companies can get millions in non-dilutive funding early and scale to tens of millions in contracts without becoming a program of record. That's game-changing," Gull states. All of this means the traditional arguments against deep tech, capital intensity, long timelines, and uncertain exits are no longer persuasive. In fact, they're outdated. "Some of the most successful deep tech companies are taking lower capital at higher valuations in later rounds. It flips the old narrative on its head," Gull says. The opportunity is clear. "If you want to be a part of generational companies, not just another SaaS dashboard, deep tech is where you need to be looking," he says. "There's still pricing arbitrage in the early days because not enough people believe in this yet." Wave Function Ventures is already proving the thesis. With six investments completed that are showing strong momentum, Wave Function is off to a strong start. "But it's not just about the returns," Gull says. "It's about backing people who are building the future, real things with real impact." In a world flooded with momentary apps and algorithmic churn, backing deep tech means investing in the infrastructure of tomorrow. "Find the founders who treat it like a life mission," Gull says.
1News
20-05-2025
- Business
- 1News
Cheapest petrol in NZ: Newcomer takes crown from Gull
For a long time, New Zealand's cheapest petrol was often found at Gull Ātiamuri. But now, fuel price monitoring site Gaspy says it is U-GO Waikaraka, Auckland, that has the cheapest gas - and Gull is not the outlier it once was. On Monday, U-GO was selling 91 petrol for $229.7, Gaspy said. While Gull was credited with shaking up competition in the fuel sector through the "Gull effect" when it opened stations around the country, Gaspy director Mike Newton said that impact had been more muted recently. "In the past four months, the gap between the national average price for 91 and the Gull National average price for 91 has closed slightly. In mid-January, Gull was 3.45 cents cheaper than the national average, whereas it is now 2.53 cents cheaper. "Gull Ātiamuri, partway between Taupō and Tokoroa, used to be the cheapest station in the country by quite a bit - whereas now it's not even close." Newton said there were a large number of Auckland stations that were only one cent more expensive than the U-Go, operated by Z Energy. Last week, motorists on a Facebook community page complained that on Whangārei's Gull discount day, the local New World petrol was still 11 cents cheaper. "Also cheaper are Allied Whangārei, Gull Wellsford, Waitomo Kaikohe and Gull Snells Beach," one person wrote. Commerce Commission data showed that at times since June 2022, the discounted price of fuel from BP, Mobil and Z - such as when people are using their rewards apps - was at or even below the Gull price. Terry Collins, AA principal policy adviser for transport policy and advocacy, said he could often find cheaper options than the Gull discounts he was sent. He said it could be that since it was sold in 2022, Gull's new owner had a different business model. "Since the sale of Gull, we have seen Kiwi-owned independents like Allied and NPD and Waitomo entering the market with low-cost self-service models that seem to be offering sharper prices. 'The Gull effect' is now the 'independents effect'." Gull spokesperson Michael Clifton said Gull was well-known for its discounts to motorists "as part of delivering fuel savings for all Kiwis". "For the last 20 years, Gull has provided regular discounts in increasing frequency with no transactional limits or loyalty cards required. The variety of prices available is evidence of 'the Gull effect' creating a competitive market. "
NZ Herald
19-05-2025
- Business
- NZ Herald
Fuel price shift: Gull knocked off its cheapest petrol perch
'In the past four months, the gap between the national average price for 91 and the Gull National average price for 91 has closed slightly. Mid-January, Gull was 3.45c cheaper than the national average, whereas it is now 2.53c cheaper. 'Gull Ātiamuri, partway between Taupō and Tokoroa, used to be the cheapest station in the country by quite a bit - whereas now it's not even close.' Where is NZ's cheapest petrol? Newton said a large number of Auckland stations were only 1c more expensive than the U-Go, operated by Z Energy. Last week, motorists on a Facebook community page complained that on Whangārei's Gull discount day, the local New World petrol was still 11c cheaper. 'Also cheaper are Allied Whangārei, Gull Wellsford, Waitomo Kaikohe and Gull Snells Beach,' one person wrote. Commerce Commission data showed that at times since June 2022, the discounted price of fuel from BP, Mobil and Z - such as when people are using their rewards apps - was at or even below the Gull price. Terry Collins, AA principal policy adviser for transport policy and advocacy, said he could often find cheaper options than the Gull discounts he was sent. He said it could be that since it was sold in 2022, Gull's new owner had a different business model. 'Since the sale of Gull, we have seen Kiwi-owned independents like Allied and NPD and Waitomo entering the market with low-cost self-service models that seem to be offering sharper prices. 'The Gull effect' is now the 'independents effect'.' Gull spokesman Michael Clifton said Gull was well known for its discounts to motorists 'as part of delivering fuel savings for all Kiwis'. 'For the last 20 years, Gull has provided regular discounts in increasing frequency with no transactional limits or loyalty cards required. The variety of prices available is evidence of 'the Gull effect' creating a competitive market.'
RNZ News
19-05-2025
- Business
- RNZ News
Cheapest petrol in NZ: Newcomer U-GO takes the crown from Gull
Gull was credited with shaking up competition in the fuel sector through the 'Gull effect' when it opened stations around the country Photo: RNZ / Dan Cook For a long time, New Zealand's cheapest petrol was often found at Gull Ātiamuri. But now, fuel price monitoring site Gaspy says it is U-GO Waikaraka, Auckland, that has the cheapest gas - and Gull is not the outlier it once was. On Monday, U-GO was selling 91 petrol for $229.7, Gaspy said. While Gull was credited with shaking up competition in the fuel sector through the 'Gull effect' when it opened stations around the country, Gaspy director Mike Newton said that impact had been more muted recently. "In the past four months the gap between the national average price for 91 and the Gull National average price for 91 has closed slightly. Mid-January Gull was 3.45c cheaper than the national average, whereas it is now 2.53c cheaper. "Gull Ātiamuri, partway between Taupō and Tokoroa, used to be the cheapest station in the country by quite a bit - whereas now it's not even close." Newton said there were a large number of Auckland stations that were only 1c more expensive than the U-Go, operated by Z Energy. Last week, motorists on a Facebook community page complained that on Whangārei's Gull discount day, the local New World petrol was still 11c cheaper. "Also cheaper are Allied Whangārei, Gull Wellsford, Waitomo Kaikohe and Gull Snells Beach," one person wrote. Commerce Commission data showed that at times since June 2022, the discounted price of fuel from BP, Mobil and Z - such as when people are using their rewards apps - was at or even below the Gull price. Terry Collins, AA principal policy adviser for transport policy and advocacy, said he could often find cheaper options than the Gull discounts he was sent. He said it could be that since it was sold in 2022, Gull's new owner had a different business model. "Since the sale of Gull, we have seen Kiwi-owned independents like Allied and NPD and Waitomo entering the market with low-cost self-service models that seem to be offering sharper prices. 'The Gull effect' is now the 'independents effect'." Gull spokesperson Michael Clifton said Gull was well-known for its discounts to motorists "as part of delivering fuel savings for all Kiwis". "For the last 20 years Gull has provided regular discounts in increasing frequence with no transactional limits or loyalty cards required. The variety of prices available is evidence of 'the Gull effect' creating a competitive market. "
Arabian Business
02-05-2025
- Business
- Arabian Business
Dubai's Clédor partners with NYC's Arthouse Hotel for AED400mn branded residences in Ras Al Khaimah
Clédor, a Dubai-based premier real estate development management company, announced a partnership with Arthouse Hotel, NYC, to bring Manhattan's creative legacy to the Middle East. The Dubai company signed a partnership agreement with Arthouse Hotel, NYC, to launch the latter's branded residences in Al Marjan Island in Ras Al Khaimah. The project, christened as Al Marjan Arthouse, is estimated to be valued at AED400 million, and will be Arthouse Hotel's first residences outside of the USA, Clédor said in a media release. 'The [agreement] signing marks the beginning of a powerful collaboration rooted in excellence, heritage, and innovation,' said Omar Gull, Founder and Chairman of Clédor. 'We are very excited to partner with Arthouse Hotel, NYC, to bring a legacy of refined and artistic living into the heart of the UAE's most dynamic communities – Al Marjan Island. 'With Arthouse, we're introducing a new style of luxury, one that brings a creative, cultural dimension to Ras Al Khaimah,' he said. Gull said Al Marjan Island is already a powerhouse for leisure and entertainment, drawing visitors and investors from all over the world, and through the partnership with Arthouse, Clédor hopes to add a new layer to the island's story. Karim El Aqabi, spokesperson of Arthouse, said they are excited to announce this new chapter for Arthouse. 'This is the first time Arthouse is stepping outside the United States of America, and together we hope to build a timeless legacy. 'We chose the UAE, and especially Al Marjan Island, because of the robust growth of real estate, vision of the leadership, and ambition and forward-thinking outlook of the region,' he said. El Aqabi said this is the beginning of more projects to come to this region from the Arthouse brand portfolio. The collaboration brings together Clédor's robust development expertise with the refined hospitality legacy of Arthouse NYC to introduce a new standard of living through branded residences on Al Marjan Island, Ras Al Khaimah and Meydan, Dubai. A post shared by Rajat Verma (RV) (@rajat_aarvees) The residences will reflect the same elevated design, service, and lifestyle experience that have defined Arthouse's presence on New York's Upper West Side for over 100 years, Clédor said. Abdulla Al Abdouli, CEO, Marjan, said the exquisite mix of fascinating nature and well-preserved history of Ras Al Khaimah has been attracting luxurious facilities and projects to the emirate, elevating the iconic island to one of the UAE's top destinations for tourism and growth, attracting the best of investments. 'It is with great pleasure that we welcome Arthouse Residences to Al Marjan Island. Their presence reflects our continued commitment to developing a world-class destination defined by architectural excellence, cultural enrichment, and exceptional quality of life,' he said. This strategic alliance further solidifies Clédor's role in driving the UAE property market, the company said.
