Series B Startups

“Startups are doing as well, they are actually arbitraging a lot of the models. I had some conversations with a number of founders where before they might have been loyalists to, let's say, OpenAI models or Anthropic, and I just had some conversations recently …”

“If you're a series B company and you're not growing a hundred percent year on year, are new investors going to be throwing term sheets at you in this environment? I don't think so. Certainly not at the prices that those founders would want.”