In this episode of Capital Class, Adam Giery sits down with Steve Kupfer, Partner at Reach Capital, for a candid look at how education technology has evolved and why the current moment feels like a full reset. Steve unpacks the convergence shaping the edtech landscape today, including political and regulatory uncertainty, shifting parent expectations, and the rapid acceleration of large language models. He explains why traditional startup playbooks no longer apply and how building, selling, and raising capital in education has changed dramatically in the last two to three years.

A major focus is the rising speed of company creation. Steve breaks down “vibe coding” and how tools like Replit and Cursor are lowering barriers so dramatically that non-technical builders can launch real products in hours. That speed brings opportunity, but also introduces new risks, especially around privacy, security, and defensibility.

Steve also shares what he sees as the most common challenges founders face, including emotional volatility, loneliness, and the difficult shift from control to delegation. Adam and Steve explore what investors are really evaluating beyond the numbers, why “team quality” remains the foundation, and how service, empathy, and long-term relationships define the work of early-stage venture.

The conversation closes with Steve’s Fast Four, including the consumerization of learning, Byron Bay as a must-visit destination, and the personal growth challenge of balancing time as Reach expands into New York.

Timestamps:

03:35 "Shifting Perspectives on Change"

06:36 "Complexities of Emerging Tech Tools"

11:54 "Ambition, Vision, and Impact"

16:13 "No Regrets in Venture Investing"

17:17 "Reverse-Engineering Venture Investing"

22:24 "Illuminating Experiences Shaping Impact"

24:58 "Belonging Without a Mold"

28:44 "Growth, Loss, and New Beginnings"

33:10 "Reality of Supporting Founders"

35:22 Supporting Founders Through Uncertainty

Connect with Steve Kupfer

LinkedIn: https://www.linkedin.com/in/kupfer

Website: https://www.reachcapital.com/