software

“What I love about software is that software, we can de-risk at every stage of investment, and we can see greater and greater revenue and help the company get bigger and bigger.”

“And I think AI is going to be like that as well, which is it's going to get into every important piece of software.”

“So fundamentally, I believe that AI is going to get into every piece of software that we write in almost exactly the same way that databases got inside all the software.”

“99% of the software in the world now is open source.”

“Any time commodities, commoditization happened in the hardware from a cost point of view, from a Advanced technology point of view, it's always winning, and what you need to make it all work together is smart software that put all the pieces together and make …”

“One of the tenets when we started the firm was we were only gonna invest in things that we understood and that meant things that were, software was a core intellectual property.”

“If software doesn't eat the things that the government pays for, then we run into trouble.”

“I think the three big ones that we think a lot about for the next, you know, five or 10 years Are, and they're really, really big, you know, domains, and so these are long-term projects, but healthcare education, and then ultimately government.”

“It may be the case that you'll have a cluster of three D printers and you'll have software that farms out the, you know, big complex part into many printers and they'll all work in parallel and kind of proceed to output pieces and they'll be reassembled. So th…”

“So you think about, like, when you get a wrong answer in, in a math class, right? You got it wrong, so you redo the problem. You just did it wrong, right? I mean, you do it right, or you do it as many times as you need to until you get it right. Whereas in sof…”

“When a car becomes electric, it becomes software, and so your upgrades, you know, instead of paying an extra 5000 dollars for the sports gearbox, there is no gearbox.”

“Often what happens when you adopt software is it formalizes your process and makes you a little bit, you know, better run business, you know, above and beyond the impact of the software.”

“You might think you could pick a special part, like, you could pick the best four K camera available, and think that that will be sustainable, but it'll be sustainable for, like, 10 minutes. Because that, that camera will be everywhere, or the capabilities in …”

“What happens to cars is, as you go to electric, among other things, is that an awful lot of the things in a car that is discrete systems from discrete vendors or discrete teams is, Get collapsed into software running on just one box, or just two boxes, or some…”

“In our business and software, obviously there is a complex matrix of patents in some cases where you really need it. But At the end of the day, a lot of the defensibility and moats, we're looking at our network effects.”

“I think most of the impact as I see it of the trade talk would be on physical goods rather than software, especially when it's delivered no longer by, you know, long, long ago, you know, when it was, you could stop a shipment of discs at the border. That was o…”

“Software and using a combination of social experiences, people, you know, devices, curriculum, content, you know, timelines, goals, all of that allows these approaches to Actually scale in a way that you might imagine a traditional drug could scale, where it's…”

“There's a really weird thing about information security in that it's an industry that, for the most part, shouldn't exist. If you bought a car and your car dealer made you pay an extra 200 bucks to not have your car go up in flames, you'd be able to sue them. …”

“Any software that's downloaded on a computer or on a phone can sooner or later be hacked, and that's the reality we're seeing.”

“Any kind of human process can be encoded in software.”

“Many times when you find a fundamental breakthrough, its importance may take a really long time to emerge, particularly in the hardware sector. It moves so much slower than software.”

“So I think it's fundamentally, the term that you used actually called it, I think, project selection. And so basically it's this question of like, okay, how do you organize a small number of people to do something new, right? ... And it's just, it's so intangi…”

“Software is a drug.”

“Where Silicon Valley, I think, strays is when we start doing things which, frankly speaking, are outside this very small circle of software, and I get a little nervous when, you know, companies are doing a lot of hardware because there are other hardware cente…”

“I think we're in a major transition in the market where people want software that really appeals to their highest and best use, and not just like the lowest common denominator.”

“A favorite analogy of our field is that DNA is kind of like software. It's code that you can program, and then when you put that custom DNA into a cell, the cell boots it up kind of like software. It's an imperfect analogy, and it often gets taken too far, but…”

“And if there's one industry that has given software indigestion has been the healthcare industry. And probably in turn, software has given the healthcare industry some indigestion as well.”

“Many years ago, actually, before I turned do not pay into a business, I tried to use do not pay for asylum, like to automate the asylum process. But with these cases, sometimes people are crying in the courtroom, and that's something that software can never re…”

“I also think it's really rewarding when you see somebody out in the wild wearing your product or using your product, you know, that kind of satisfaction I think is hard to get if you're just building an app or software.”

“So I think the next product that has the, opportunity to change our habits. I don't know exactly what the product is, but I think it's most likely in the intersection of hardware, software, and AI.”

“In categories that are really resistant to adopting software, oftentimes hardware is a great Trojan horse where you can sell that the customer base is used to purchasing some form of hardware. And then from there, you're able to layer in software capabilities …”

“So every, every software, every drug VSK will launch will have software that sits around it. I think that's gonna be true of everybody, and there's, we're going to see, there's software that will sit around every drug, and we'll say, you know, who should use i…”

“One of the firms we talked to, it's a top-twenty firm, they were ready to spend up to five hundred million dollars either building or acquiring software.”

“These firms from the very top down are feeling tremendous pressure to fill these gaps, not just with additional humans, but really with software.”

“When we talk to most voice agent companies, they aren't necessarily replacing existing software, but they're probably actually allowing businesses to either cut down on human labor or reallocate their human labor to kind of more effective things for the busine…”

“Software is impossible to control. If you want to control it, then somebody else's will emerge and become the standard.”

“It is a general purpose technology. Because it basically revisits entirely the way we are building software and the way we are using machines.”

“The leading cause of anomalies on orbit in space is software, not hardware.”

“Software was always the disruptor. One of the most exciting thing about the AI wave is, like, software's being disrupted.”

“You never needed to be licensed to be a software engineer. There was never approval to sell software.”

“This is as big as software and the strategies need to vary as much.”

“If there is like a big change in how you can write software, which AI is probably the biggest change we've ever had”

“Interestingly, software was never a moat. It was never something that at least, you know, he thought was leading to differentiated returns. I think that's still true, which is that You know, the software itself is not emote.”

“Our sort of extreme views here is that like the future of consumer disposable income will be like food rent software, you know, and then software is going to subsume a lot of the other areas of discretionary spend today.”

“Well, and that's the thing, it's like, you know, software, like I'm very confident that all of the banks Cannot build software, will not be able to build software, will not build software.”

“We have our kind of blind spots, and a classic one for us tends to be well, everything should be done in See us. Everything should be done in software. Everything should be done in bits.”

“You're instead just able to go, Infinitely deep on something seemingly trivial and have this level of kind of polish and craftsmanship, which just wasn't justified five years ago. That's where we're going with software.”

“If you're really thinking about it as YouTube, that's sort of the last frontier. At this point, creators can make their own professional content. They can make videos, they can make shows, they can write, but they still cannot create software.”

“And so I think the same will happen with software. Right now we're Kind of stuck in this world where are these few apps developed by professional developers? And then eventually, of course, we're going to move on to this new world where apps are built by all o…”

“I think that's going to be more a function of when we can produce something that is as good as human intelligence, even if it takes a lot more compute, a lot more energy, a lot more training data. We could just put in all that energy and still get to software …”

“The marginal cost of producing software is, you know, declining asymptotically towards zero”

“Software and hardware is, is not really a natural boundary. It's just where we decide to draw the line and say, okay, this is something I make configurable or I don't.”

“In the old world of software, the one thing you knew is you couldn't throw money at a problem and now you can throw money at a problem.”

“These models don't integrate well with software. Actually, I think it turns out and what we're learning as an industry is if you view them more like humans and you draft on the mechanisms we put in place for humans, they are much easier to integrate.”

“I think even once you have AGI, all our AGI agents are going to need somewhere to store work and pull information from and reason about things. So I think, you know, a certain class of SaaS companies that were solely built for people to do work might face a bi…”