The Insurance Game Is Changing and You Should Be Aware

92% of construction projects overrun their budget. And the data now says the main reasons are inside your organisation, not outside it.This week: we tease findings from our upcoming supply chain report (the numbers will make you uncomfortable). We get an economy update from ABC's chief economist. We break down how one insurance company is cutting premiums for contractors who use construction technology, with 40-50% differences in claims data to back it up. And we unpack workforce benchmarks from 233 companies and 114,000 people that reveal what the top ENR firms are doing differently.Three things you can action this week. No fluff.Links and resources mentioned in this episode:Sign-up link for the Bricks & Bytes Supply Chain & Procurement Report (dropping 24th April) - https://bricks-bytes.com/downloads/procurement-report/Revizto "Bridging the Gap" 2026 Digital Design & Construction Report - https://revizto.com/resources/reports/bridging-the-gap-2026ENR article: "Data Centers, AI Drives Industry Momentum in First Quarter" (Anirban Basu Q1 forecast) - https://www.enr.com/articles/62803-data-centers-ai-drives-industry-momentum-in-first-quarterBridgit 2026 Construction Workforce Benchmark Report - https://gobridgit.com/press/constructions-labor-shortage-is-hiding-a-deeper-problem-new-bridgit-data-from-114000-workers-shows-what-it-is/Shepherd Insurance (shepherdinsurance.com) and Justin Levine's article "The Case for Autonomous Underwriting" - https://www.shepherdinsurance.com/blog/the-case-for-autonomous-underwritingOur newsletter — link to new Beehiiv subscription page - https://bricks-bytes.beehiiv.com/LinkedIn post for this episode (for comments/engagement) (coming shortly)

"AI told them the idea was great. They built the whole thing. It was wrong."In this episode of Bricks, Bucks & Bytes, Owen, Martin and Dustin unpack why AI models are built to agree with you — and why that's genuinely dangerous in construction. They also tear apart the claim that 96% of projects overrun on budget (spoiler: it's not a design problem), then sit down with Justin Levine, CEO of Shepherd Insurance, fresh off a $42M Series B, to talk about what it actually looks like to automate commercial insurance from the ground up.Watch now to uncover:AI sycophancy, MIT's "delusional spiraling" research, and the real-world construction risksWhy budget overrun stats might be measuring the wrong thingShepherd's vision for fully autonomous underwriting — and how they're already running at 5x industry capacityThe plan to price a commercial insurance submission in real time, during a live broker meeting"By the time that meeting ends, we want that account to be fully priced and ready to go." — Justin Levine, CEO, Shepherd InsuranceWatch the full episode on Bricks, Bucks and Bytes YouTube Channel. Link in the comments. #aec #construction #constructiontech #bricksbucksandbytes #bricksbytes #ai #insurance #vcChapters00:00 Intro01:00 Delusions Spiraling: The Impact of AI on Perception 24:42 Budget Overruns in the AEC Industry: A Deep Dive 29:53 The Role of Technology in Construction: Enhancing or Hindering? 30:09 Understanding Budget Overruns in Construction 32:51 The Role of A16Z in Construction Tech 36:09 Shepherd's $42 Million Series B Funding 42:02 Autonomous Underwriting: A New Era in Insurance 49:26 The Future of Brokers in Construction Insurance 53:13 Self-Insurance and Risk Management in Construction 01:01:25 The Benefits of Autonomous Underwriting for Clients

Two major acquisitions landed in one week. Trimble bought Document Crunch. Autodesk closed on Rhumbix. And the message is the same: the platforms you already use are getting smarter, faster, and harder to leave.In this week's Executive Weekly Briefing, Owen unpacks what the consolidation wave means for your technology decisions, why UK construction input costs just hit a 41-month high, and a practical framework from a 31-year industry veteran that separates AI efficiency from AI risk mitigation, and why the returns are wildly different.Plus: a big announcement about our first ever live event with Professor Martin Fischer from Stanford University in London on April 21st. https://luma.com/o0rcei5vCovered this week:Trimble acquires Document Crunch - https://www.youtube.com/watch?v=LApKTPQXFKQ&t=76sAutodesk closes Rumbix acquisition - https://www.youtube.com/watch?v=CI7eD7f7aVY&t=147sThe Buildots/Genda productivity intelligence play ServiceTitan data: AI adoption doubles among contractorsUK input cost inflation hits highest level since 1992Carl McFarland on construction's Blockbuster moment - https://www.youtube.com/watch?v=Z-cO-6zxKdEThe efficiency vs. risk mitigation AI frameworkMIT research on AI sycophancy and delusional spiralingBricks & Bytes first live event: Professor Martin Fischer, London, April 21stNew episodes every week. Subscribe and follow Bricks & Bytes wherever you listen.Join the debate:

Four companies. One acquisition. One $852 billion valuation. Forty-five minutes turned into four days. This is the biggest episode we've ever recorded.Document Crunch just got acquired by Trimble. Josh told us live, before most of the industry knew.In this episode of Bricks, Bucks & Bytes, Owen, Patric, and Dustin cover the biggest week in construction tech in years.Trimble acquires Document Crunch — Josh and Mark join live to break it downOpenAI hits $852B — and Dustin explains why NVIDIA should be worth $10 trillionDustin's $275M Building Connected exit story — the grind nobody talks aboutCoral's $7.5M raise — guaranteeing heat pump rebates to the cent in under 60 secondsNeuron Factory — taking tender processes from 4 days to 45 minutes with AI"You can't vibe code trust. That's earned." — Josh, Document CrunchGo and watch the full episode on the Bricks & Bytes YouTube Channel nowOur Sponsors:BreadCrumb- 50,000+ projects globally. All running safer, faster, with Breadcrumb. - breadcrumb.coAphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coArchdesk -  “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision -   streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters00:00 Intro01:09 Introduction and Excitement for the Episode 03:46 OpenAI's Valuation and Market Comparisons06:30 Understanding Notional Value and Market Capitalization 09:36 Foundamental University Launch and Insights from Industry Leaders 12:18 Dustin Devan's Journey with Building Connected 18:19 Challenges and Resilience in Startups 20:22 Trimble and Document Crunch Acquisition Announcement 22:08 The Journey to Acquisition 25:19 Trimble's Perspective on the Partnership 28:10 Future Strategies and Innovations 29:44 Celebrating Milestones and Achievements 30:47 The Importance of Culture and Alignment 34:52 Building Trust in the Industry 37:37 Navigating the Competitive Landscape 41:33 The Role of Trust and Data in Construction 49:24 Vision for a Dispute-Free Industry 51:01 Industry Responsibility and Improvement 51:42 Innovations in Heat Pump Technology 54:35 Understanding the US Heat Pump Market 57:24 Future Opportunities in Energy Efficiency 1:00:35 Funding and Growth Strategies for Startups 1:03:18 The Role of Knowledge Graphs in Construction 1:08:25 Enhancing Project Management with AI 1:12:29 Challenges and Opportunities in AI Integration

Josh Levy built Document Crunch for 5 years.Trimble has 32 million projects on their platform. Tens of millions of documents. And they looked at the entire market and picked Document Crunch.That's not a small bet.We got both of them live on Bricks & Bytes this week. Josh broke down exactly how this happened, the moment the deal became a no brainer, and where he's taking this next. Mark didn't hold back either.If you're building in construction tech, investing in it, or just trying to understand where this industry is heading, this one is worth your full attention.Full video on the B&B YouTube now. Go watch it. Link in the comments below.#construction #constructiontech #bricksbucksandbytes #aec #bricksandbytes

12 years. $53M raised. One acquisition. Zach Scheel is talking about all of it.Zach Scheel, co-founder of Rhubmix, sat down with Owen the day after Autodesk officially closed its acquisition of the 12-year-old construction labor tracking platform. He didn't hold back.Tune in to find out about:✅ Why Autodesk acquired Rhubmix — and what gap in their product suite it fills✅ The financial metrics (110% NRR, 94% GRR) that made the deal happen✅ What a term sheet getting pulled post-signing actually feels like — and how they survived it✅ Why 10 years is probably a realistic median exit timeline for construction tech founders and investorsWatch now on Spotify and YouTube🎧#aec #construction #constructiontech #bricksandbytes #bricksbytes #aiOur Sponsors:BreadCrumb- 50,000+ projects globally. All running safer, faster, with Breadcrumb.breadcrumb.coAphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coArchdesk -  “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision -   streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters00:00 Intro01:30 Introduction and Acquisition Announcement 04:32 Understanding Rumbix and Its Functionality 07:32 The Journey to Acquisition 10:17 Negotiating with Autodesk 13:13 Metrics and Performance Indicators 16:12 Challenges of M&A Process 18:59 Future of Rumbix Under Autodesk 21:58 Lessons Learned and Final Thoughts

"The biggest mistake a construction exec can make right now? Assuming the existing business model is going to stay the same."In today's episode of Bricks and Bytes, we had Carl McFarland from Big D Construction and we got to learn about why the industry is sitting in a Blockbuster moment, how Apple generates the entire annual net income of a $30 billion construction firm in under 48 hours, and why the executives paying the most attention to technology might still be focused on completely the wrong thing... and many more!Tune in to find out about:✅ Why the construction firms performing best right now are actually the ones most exposed to disruption - and what the Blockbuster comparison really means in 2025✅ What most construction CEOs are getting wrong about AI adoption - it's not about the tools they're picking, it's about the question they're not asking✅ Why Carl believes no single firm, no matter how large, has the capital or intellectual firepower to navigate this transformation alone - and what he thinks the answer actually looks like✅ The AI agent Big D built for project risk review that's delivering 10x the return of standard efficiency tools - a real use case, not a pitchWatch now on Spotify and YouTube 🎧 #aec #construction #constructiontech #bricksandbytes #bricksbytes #aiOur Sponsors:BreadCrumb- 50,000+ projects globally. All running safer, faster, with Breadcrumb - breadcrumb.coAphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coArchdesk -  “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision -   streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters00;00 Intro01:59 AI's Impact on Business Operations06:08 The Blockbuster Moment in Construction11:50 Fragmentation and Innovation in Construction15:50 Rethinking Business Models for Profitability20:09 Acquisition vs. Internal Innovation26:06 Technology Focus in Construction Leadership30:21 Collaboration for Industry Transformation32:40 Leveraging Supplier Relationships for Capital Investment41:14 Transitioning from Builders to Business Leaders51:42 The Importance of Operations in Sales01:03:39 AI as a Tool for Efficiency and Risk Mitigation

The world's largest asset manager just wrote a $100M cheque to train electricians. Google put up $50M. Microsoft named electrical talent as the single biggest challenge to building data centres. The firms selling the AI dream just discovered they can't deliver it without construction workers.This week on the Executive Briefing:Why data centre companies are paying $150K starting salaries for skilled trades, and what that means for every contractor drawing from the same labour pool. The real numbers on construction robotics — $1.36B in venture funding, 125% up year on year — and the four workflows where robots are actually working, not just demoing.The Iran oil shock is a second front, not the first. US construction input prices were already running at 12.6% annualised before a single missile was launched. Aaron Anderson's analysis shows 130,000 fewer permits being filed. We break down which sectors are pulling back and which are ploughing ahead regardless.The AI question nobody is asking: the difference between deterministic and probabilistic, why every AI tool you're being sold is fundamentally a guess, and how to know which of your workflows can tolerate that and which ones can't. Plus Anna Berger from Trayd on why 99.7% accuracy still isn't good enough for construction payroll.Quick hits: NEOM's Line is effectively dead, the UK government is abolishing retention payments, and a US jury just ruled social media platforms were deliberately engineered to be addictive.Join the debate:

Your construction back office admin hasn't taken a vacation in ten years. And it's your software's fault.In this episode of Bricks, Bucks & Bytes, Owen, Patric, Martin, and Dustin break down what four AI CEOs said at NVIDIA GTC and what it means for construction. Then Anna Berger joins fresh off raising $10M in three weeks to expose the chaos inside every specialty contractor's back office.AI token costs collapsed 99% — here's what that unlocksThe data center boom is creating a trades crisis — electricians are now the hottest hire in AmericaWhy AI will never run construction payrollHow Anna closed $10M with 40+ investor meetings in her first week"I just took my first vacation in ten years — thank you." That's the kind of message Anna Berger is getting from her customers.Watch the full episode now!Our Sponsors:Aphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coArchdesk -  “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision -   streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters00:00 Intro01:00 Introduction to NVIDIA GTC and AI CEOs 03:38 The Impact of AI on Cost and Accessibility 05:34 Specialization vs. Commoditization in AI Models 07:44 The Role of AI in Engineering and Construction 10:33 Deterministic Outcomes and Governance in AI 13:32 The Future of AI in Enterprises and Job Market Dynamics 23:59 The Role of Accuracy in Construction Projects 28:06 AI vs Human Judgment in Project Estimation 30:52 Evaluating AI Accuracy in Professional Contexts 33:45 The Future of Skilled Trades and Workforce Training 40:24 Economic Predictions and Market Interests 44:59 Quarterly Recap: Trends and Insights in Construction Tech 47:01 Real-Life Lessons from the Industry 51:43 Celebrating Success: Anna's Fundraising Journey 53:53 Understanding Trade: A Deep Dive into Construction Back Office Solutions 56:46 Future Plans: Scaling and Product Development 1:00:46 The Importance of Compliance in Payroll Management 1:03:28 Y Combinator's Role in Construction Tech

The cost of intelligence is heading to zero. Construction still hasn't figured out what to do with that.In today's episode of Bricks and Bytes, we had Matt Gough and we got to learn about why AI adoption in construction is solving the wrong problem, what a genuine industry moonshot could actually look like, and why the contracting model itself is blocking real transformation... and many more!Tune in to find out about:✅ Why 50 senior AEC leaders are all bullish on AI - but almost none of them are using it to change how the industry actually works✅ The "virtual vertical integration" argument - and whether AI makes what Katerra attempted possible this time✅ How misaligned incentives across the construction supply chain kill innovation before it gets started✅ What the Empire State Building can still teach us about project delivery in an AI-enabled world🎧 Listen now on Spotify and YouTube.#aec #bricksandbytes #construction #constructiontech #aiOur Sponsors:Aphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coArchdesk -  “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision -   streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters00:00 Intro03:00 Introduction and context of AI in construction05:29 The current state of AI adoption08:10 Challenges in optimizing construction processes11:17 The role of AI in redefining construction value chains14:05 Identifying the moonshot for construction17:07 The importance of collaboration in achieving goals20:09 The future of AI and construction integration29:02 Navigating the rapid pace of change30:22 The moonshot vision for transformation31:36 Insights from AI in the AEC industry33:35 Embracing AI: the gym analogy34:41 Governance and innovation in AI tools37:22 Shifting from risk transfer to collaborative production42:50 Overcoming barriers to innovation47:49 Immediate actions for industry transformation47:57 Lessons from Neom: ambition and technology