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MENA’s Biggest Moves Are Happening Now | The Founding MENA Show

Episode two of the Founding Mina Show covers regional tech news, a higher-or-lower quiz, and startup red flags.

Startup red flags game
  • An investor wanting a board seat at pre-seed is a red flag; most investors add little value at that stage.
  • Small investors who put in $5K are often the most demanding, wanting daily updates.
  • Investors who push for board seats often also ask for fees, which is a no-go.
  • Co-founders knowing each other for less than six months can work, especially in accelerators, depending on how they handle conflict.
  • 种子轮创始人给自己发市场水平的薪水是一个危险信号,不过像单亲家长有房贷这样的背景因素也很重要。
  • An investor wanting exclusivity before sending a term sheet is a big red flag; the best investors tell founders to shop a term sheet around.
已达成的结论
  • Co-founders knowing each other under six months was judged a green flag, not a red one.
  • 种子轮创始人给自己发市场水平薪水被判定为危险信号,但附带背景条件的说明。
  • An investor demanding exclusivity before a term sheet was judged a big red flag and a no.
  • A lead investor not wanting to take their pro rata in the next round was judged a red flag.
未解决的问题
  • 迪拜真的会在2030年前实现所有出行25%的自动化吗?
  • Do you really want to outsource your intelligence to another country?
  • Where are investors in their fund cycles, and are AI-driven fund raises a house of cards?
后续跟进
  • Listeners should follow the Founding Mina Show on YouTube, Instagram, TikTok, and X for clips and new episodes.
  • Founders should ask investors where they are in their fund cycles before committing.
  • Founders should shop a term sheet around when they have one, per the best investors' advice.
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Original

Episode two of the Founding Mina Show covers regional tech news, a higher-or-lower quiz, and startup red flags.

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00:03 Welcome back to the Founding Mina Show. 欢迎回到Founding Mina Show。

00:05 This is episode number two. They haven't 这是第二期。他们还没

00:07 kicked us out the studio yet, which is 把我们赶出演播室,这挺

00:09 great. 好的。

00:10 >> Yep. We're just uh streaming 24/7. >> 对。我们就呃24/7直播。

00:12 >> Exactly. That's it. Yeah. Same t-shirts. >> 没错。就这样。对。同样的T恤。

00:14 We're back here again. Um more news. 我们又回来了。呃更多新闻。

00:16 It's been another crazy crazy week, 又是疯狂疯狂的一周,

00:18 hasn't it? 对吧?

00:19 >> A lot happened in the region. >> 那个地区发生了很多事。

00:20 Absolutely. 绝对的。

00:21 >> A lot has happened. And um I mean, I >> 发生了很多事。呃我是说,我

00:23 want to get into it, but I know we're want to get into it, but I know we're

00:25 going to go through a nice little higher going to go through a nice little higher

00:27 or lower first, right? and you'll be 或更低,对吧?然后你会

00:29 testing my knowledge straight away. 马上考验我的知识。

00:30 >> Yeah. How long have you been in the >> 对。你在那个地区

00:31 region? region?

00:32 >> I've lived in Dubai 2 years now. >> 我在迪拜住了两年了。

00:33 >> All right. So, let's let's test the your >> 好。那咱们来考验一下你的

00:36 knowledge and see if it actually matches knowledge and see if it actually matches

00:37 all of that. The concept is higher or 所有这些。概念是更高或

00:40 lower. So, I'm giving you a statement 更低。所以,我给你一个陈述

00:42 and you have to tell me if it's higher 你得告诉我它是更高

00:44 or if it's lower. So, let's get into it. 还是更低。那咱们开始吧。

00:46 Let's 来吧

00:46 >> do it. >> 开始。

00:48 >> Was the Burke Kalifa construction cost >> 哈利法塔的建造成本

00:50 higher or lower than $2 billion? higher or lower than $2 billion?

00:54 >> I'm going to go with higher. I reckon it >> 我选更高。我觉得大概

00:58 was probably closer to about four 接近四十亿

01:01 billion. 左右。

01:02 >> It was lower. >> 是更低。

01:03 >> What? >> 什么?

01:04 >> Yeah. 1.5 >> 对。15

01:05 >> 1.5 billion. >> 15亿。

01:06 >> Bear in mind this was 2008 2009. So I >> 记住这是2008、2009年。所以我

01:09 think adjusted for inflation it would be 觉得按通胀调整后大概

01:11 like close to three. Okay. 接近三十亿。好吧。

01:12 >> But uh but it's still incredibly cheap >> 但呃但还是便宜得难以置信

01:14 compared to other buildings. I mean it's compared to other buildings. I mean it's

01:15 like 160 floors. 大概有160层。

01:17 >> That's true. 1.5 billion seems >> 没错。15亿看起来

01:18 affordable. Yeah. Exactly as you're as 还挺划算的。对。就跟你说的一样。

01:20 you're saying it. 你说的那样。

01:21 >> Absolutely. I mean some companies are >> Absolutely. I mean some companies are

01:24 raising that for seed round now. So 种子轮就融这个数了。所以

01:25 >> that's true. They could build their own >> 没错。他们可以自己建一栋

01:27 birch. Yeah. Now talk about towers. So 桦树。对。现在说说高塔。所以

01:30 you know that Saudi is building another 你知道沙特正在吉达建另一座

01:32 tower in Jedha which will be taller. Um 塔,会更高。嗯

01:35 so is the future tower height higher or 那未来那座塔的高度是高于还是

01:39 lower than 1 kilometer? lower than 1 kilometer?

01:41 >> It's higher. >> 更高。

01:44 Yeah, it must be higher. 对,肯定更高。

01:46 >> Yeah, slightly higher. Yeah. Yeah. Uh >> 对,稍微高一点。对对。呃

01:48 the exact height is not actually we the exact height is not actually we

01:50 don't know yet, but they want to go don't know yet, but they want to go

01:52 above the the 1 kilometer. Uh 1,000 above the the 1 kilometer. Uh 1,000

01:55 mters, man. It's going to be about 200 m 米啊哥们。大概会比

01:58 higher than the than the BC Khalifa. 比哈利法塔高200米。

02:00 >> Okay. Someone who hates heights, that's >> 好吧。对于恐高的人来说,那简直是

02:01 my worst nightmare. I will not be 我的噩梦。我肯定不会

02:02 visiting. 去的。

02:03 >> All right. One closer to your field. So, >> 好。问一个跟你领域更近的。所以,

02:06 the number of series A rounds in the 2026年上半年Mina地区

02:09 Mina region in the first half of 2026. A轮融资的数量。

02:11 >> Okay. >> 好。

02:12 >> Was it higher or lower than 50? >> 是高于还是低于50?

02:14 >> Sadly, I think it's going to be lower >> 可惜,我觉得会低于

02:16 than 50. It was a tricky start to 2026 50。2026年开局挺难的

02:19 for obvious reasons. 原因很明显。

02:20 >> Yeah, it was 30. uh across the whole >> 对,是30。呃整个

02:23 region it feels like a pretty low number 地区感觉数字挺低的

02:25 >> and if you compare to the US 1,200. >> 跟美国比是1200。

02:28 >> Really? Wow. Yeah. But >> 真的吗?哇。对。但是

02:30 >> I know we can't compare. I'm just saying >> 我知道不能这么比。我只是说

02:32 it's a benchmark. Um yeah, it's a benchmark. Um yeah,

02:34 >> that's an interesting stat. >> 这个数据挺有意思的。

02:36 >> All right. I know you love conferences. >> 好。我知道你很喜欢会议。

02:38 So, how many conferences per year in 那迪拜每年有多少个会议呢?

02:40 Dubai? Is it higher or lower than 500? 是高于还是低于500?

02:43 And by conferences, I don't mean side And by conferences, I don't mean side

02:45 events or little, you know, get events or little, you know, get

02:47 together. I mean conferences that have 活动。我指的是参会人数

02:49 more than 1,000 attendees. So, proper more than 1,000 attendees. So, proper

02:52 events. 大型活动。

02:52 >> Genuinely, it feels way more than 500. >> 说实话,感觉远不止500。

02:55 I'm going to say there's like triple. I 我猜大概有三倍。我

02:56 feel I feel like Yeah, substantially 感觉,我觉得,对,肯定

02:59 more than 500. more than 500.

03:00 >> Actually, it's just over 500. 510. Uh >> Actually, it's just over 500. 510. Uh

03:03 that's like almost two a day if you 这差不多一天两场了,如果你

03:05 count, you know, just like 算的话,你知道,就像

03:07 >> open days. >> 开放日。

03:08 >> Well, yeah, exactly. >> 嗯,没错。

03:09 >> That's that's a insane amount. >> 这数量太离谱了。

03:11 >> Yeah, that's way too much. Um what are >> 是啊,太多了。呃,他们

03:13 they doing conferences for? 办这些会议是干嘛的?

03:15 >> I think it's attendees of conferences >> I think it's attendees of conferences

03:18 going to other conferences. You know, 去参加别的会议。你知道,

03:19 I've been to some events where you have I've been to some events where you have

03:21 more speakers than attendees, which is a more speakers than attendees, which is a

03:23 little bit sad. 尴尬了。

03:24 >> Yeah. Yeah. >> 是啊。是啊。

03:26 >> All right. So, you also know I'm I'm >> 好。那你也知道,我猜

03:27 guessing that Dubai is building a new 迪拜正在建一个新商场,会比迪拜购物中心

03:29 mall that'll be bigger than Dubai Mall, 还大,对吧?迪拜广场购物中心。呃,

03:31 right? Dubai Square Mall. Um, will the 那个商场里的店铺数量会

03:34 number of shops in that mall be higher 高于还是低于1200?

03:36 or lower than 1,200? >> 一个商场1200家店。

03:39 >> 1,200 shops in one mall. >> 这数字本身就够疯狂的。

03:41 >> That's a crazy stat in its own right. >> That's a crazy stat in its own right.

03:43 >> Surely it can't be more than 1,200. >> 是1500多。

03:45 >> It's more 1500. >> 你开玩笑吧。1500家店。没错。

03:47 >> You're joking. 1500 shops. Yep. >> 哇。

03:49 >> Wow. >> Wow.

03:50 >> Yep. It's actually quite the Dubai mall >> Yep. It's actually quite the Dubai mall

03:52 already has over a thousand, but I think 这个会把它推向另一个层次。

03:54 this pushes it to the to the next level. this pushes it to the to the next level.

03:56 >> That is crazy. >> 这太疯狂了。

03:57 >> All right. And the last one. So, the the >> 好的。最后一个。那么,那个

03:59 amount of capital invested by all the 所有主权财富基金在

04:01 sovereign wealth fund uh in the first 2026年上半年

04:03 half of 2026, was it higher or lower half of 2026, was it higher or lower

04:06 than $50 billion? than $50 billion?

04:08 >> 50 billion is a crazy number as well. I >> 500亿也是个疯狂的数字。我

04:11 would say it's it's got to be around 会说大概就在那个

04:12 that. I would say it's close to that if 范围附近。我会说接近那个数,如果

04:14 not maybe slightly more with the AI 不是稍微多一点的话,考虑到他们一直在做的

04:17 deals that they've been doing. AI交易。

04:18 >> 70 billion. >> 700亿。

04:19 >> 70 billion. Wow. How many of those deals >> 700亿。哇。那些交易里有多少

04:23 are in AI? Do you know roughly as a are in AI? Do you know roughly as a

04:25 percentage? 百分比吗?

04:26 >> I mean, in terms of size, I think it's >> 我是说,从规模来看,我觉得

04:28 it's um it's going to be more than 50%, it's um it's going to be more than 50%,

04:31 because I can already, you know, the 因为我已经,你知道,那个

04:33 OpenAI deal I think was 30. Anthropic OpenAI的交易我觉得是300亿。Anthropic

04:36 was close to 30 as well. So yeah, it's 也接近300亿。所以是的,

04:38 it's mainly AI and it's driven by um you 主要是AI,而且是由,嗯,你

04:41 know PIF obviously MGX here, Mubadala. 知道的PIF,当然还有MGX,Mubadala推动的。

04:44 So yeah, those guys, you know, they 所以是的,那些人,你知道,他们

04:46 don't don't mess around when they have 有信念的时候可不会

04:48 conviction. 含糊。

04:49 >> No, >> 不,

04:50 >> those are some big checks. Wow. Okay. >> 那些可是大手笔。哇。好吧。

04:52 >> All right. I think you got half right. >> 好的。我觉得你答对了一半。

04:54 So it's it's okay. I do better next 所以还行。我下次

04:56 time. 会更好。

04:57 >> It's a reasonable score. I'll take it. >> 这个分数还算合理。我接受。

04:59 >> Thank you, mate. Well, there we go. Um >> 谢谢你,伙计。好了,我们继续。嗯

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