ByteDance

“ByteDance we invested in at ten billion dollars, ok? Today it's marked, you know, somewhere between 350,000,000,500 billion, depending on which crossover fund, you know, you look at.”

“I think the only way that this new paradigm exists is because of AI and because of GPUs specifically, and I'm not even talking about generative AI, I'm talking about, like, feed recommender systems and personalization systems. And so, like, there is a very, ve…”

“ByteDance is an AI company. ByteDance is not a product company. And the core product that ByteDance makes is its AI, along with all sorts of other stuff. TikTok is like the product vector, one of many, and the biggest. By which they deploy their actual product…”

“TikTok and ByteDance, its parent company, as you point out, Ben, was so completely orthogonal to everything that Facebook had learned over the past 15 years. Because, yes, number one, most importantly, it's not social media. It's media. There's no social. And …”

“I think it's not that much of a leap to say that the cat paper led to probably hundreds of billions of dollars of revenue generated by Google and Facebook and ByteDance over the next decade.”