Accounting

“Accounting is difficult. It's not something that is just purely text in text out. And so it requires the ability for like AIs to be able to, you know, perform lots of actions over long periods of time and actually you know, be coherent over that period of time…”

“It is, one of, if not the largest knowledge work profession in the country. There are over three million, you know, combined kind of accountants in the country.”

“And accounting is actually the art of compressing all of that into something that is structured that now people can look at and understand and make decisions. So something about accounting you could argue in a meta way is kind of like an intelligence over the …”

“I think we're hiring a little bit in the less of just like, you know, pure accounting. Also a function of where we're doing it. It's not that we're hiring less people overall. We're hiring less people in certain areas.”

“Don't tell me that there'll be accountants 20 years from now. Why would you have an accountant when it's just math?”

“I would argue something like accounting. You're five years away from AI native being disruptive. In something like, you know, design and co-gen, creative and co-gen, it's here right now.”

“People think that accounting is just numbers. Actually, so much of it is just understanding what's going on in the business. And so much of that is actually human written.”

“I'd say last thing in boring software is the best software. So anything like you have to have, like, so first thing you do when you start a business, like accounting, payroll, tax, like banking, anything like that, that every business has to have, or incorpora…”

“I would say that the main integrations that you need to operate Is accounting. That's critical for the operation. Right now, I would say that 90% of the need they have is for the accounting process, ok?”

“Like in accounting, I think realistically we only need so much accounting in the world, right? Like maybe there's areas where we can do more and that'll be good. But it doesn't feel like the world needs a hundred times more accounting. On the other hand, in so…”

“So, you know, think of, like, insurance or accounting where are two that come to mind where you have an aging work workforce and the amount of people that are retiring from those senior roles. Is significant over the next 10 years, and there's just not the pip…”

“What we've noticed talking to 400 accountants is that they don't need more business. They go, we have enough business. What we need is more accountants. They're like, I can't hire fast enough. Like it's, no one wants to be an accountant. And we just simply do …”

“Those are exactly the industries that people should be looking at for building AI products, right? If you think about even just the selling motion that you need to do for any new product, if you're going to a company and they have ample demand, and there's lik…”

“LLMs are really good at making sense of unstructured data. So this is where we've seen them sort of most pervasive in the early innings of this movement.”

“So I think what will happen is the price of the average value of legal services or of accounting of marketing will go down. But if you can perform above average, I think people are going to put a real premium on that, because that's still going to be a very ra…”

“Accounting isn't a numbers game. It's a language. It's like learning a dialect of Chinese. It's like learning Spanish. It's like learning French learn. It is the language of business.”

“If you're good, if you want to be a photographer or a violin player and you are going to be independent, get a degree in accounting. It just helps the language of business. It generally speaking, it's a very useful tool. Like I said, it's like learning Spanish…”

“Usually what I see less than ten million they are, your accounting is outsourced. Rarely do I see someone, an in-house accountant or controller, which is nice.”

“Something to keep in mind is that your average retention when it comes to accounting is 10 years.”

“Next year and the year after, the revenue from our business intelligence applications are gonna equal or exceed the, ah, the accounting piece.”

“And you think that accounting is sort of the Rosetta Stone of investing, and in the end, you realize, no, accounting is the exhaust. It's not the gas, and so you can't let it Take over your mindset. You've got to think about what does the business actually do?…”

“I think the biggest misconception here is that the only way to use data is like the way that machine learning or AI works. You know, people overlook things like good old-fashioned accounting. You know, accounting was sort of the very first data science.”

“Corporate equity derivatives are not really driven by finance. They're driven by taxes and accounting and securities law.”

“Because accounting is probably the least sexy field out there, and yet there's a point to that, because sometimes the best businesses are the areas that other people have overlooked because they're not terribly interesting, alright?”