Software Startups

“And right now, if I give. 20 people a billion dollars, they can actually use it usefully. It's very, so it's like we've kind of moved the industry from like this engineering bound problem to a capital problem.”

“Third is to compete in global markets and especially U.S. Market. You can't win on Price or you know any other differentiation other than product. You have to be a phenomenal, phenomenal product to compete with companies, because every industry you pick, every…”

“I mean, the models, you know, if you're in the path of models improving, you will get stomped like Godzilla, but there's still plenty of opportunities all over the ecosystem, especially if you're not doing something that's in software.”

“I think we're going to see a lot of these folks, you know, adding revenue teams, adding sales teams, adding marketers, never at the ratio of 20, 21. We'll never see those levels of staffing of humans”

“Like if you're a new company today, if you're a new like software startup, like your code base is totally AI. Like it's probably a hundred percent written by AI and you've developed it in this way that it's sort of readable, searchable by AI so that it can mak…”

“So getting to a 1,000,010 million, a hundred million of revenue with a software idea had is just happening faster and faster than ever.”

“For day to day, Technology startups, particularly ones that are not doing hardware, which would be impacted by the tariffs, right? People who are just writing software. It should really be of minimal actual day-to-day impact, especially if your startup's worki…”

“If you're non-technical, you're just sitting there and you can't, you just simply can't have the impact.”

“I think the moat for the next couple of years, cause, and I, I'm willing to argue this is design. Design and user experience becomes the moat. Cause at the end of the day, like if you can make the experience much richer, much better, and you can actually solve…”

“One common way to do a business is that is you observe an organic trend and you say, cool, could I use tech to make this more efficient and to actually like ramp this up?”

“A lot of times the product market fit of the first product will get you, especially a really good product market fit will get you to a hundred million or two hundred million or some really large level. But then start to Peter out and then you have to figure ou…”

“I think what I would advise is I would do projects I would, even though I'm a product, even though I have a product vision, I would start with trying to make as much projects, and, which would be very customer-led, and frankly, initially, even if I have a road…”

“Maxio that's here. They surveyed all of their customers. It's just, this is more of a look at startups. And you can squint here and you can see that like Q two was again, it's a little bit, but the first reacceleration they've seen in the last five to six quar…”

“That bar hasn't changed for us, but the number of companies meeting that bar has gone down considerably.”

“It does, a little bit. A bit similarly, in my opinion, to how, you know, like you would build like an internet company or like a software company, 20 years ago. Because compute is kind of like more expensive for AI than it is for traditional software. Because …”

“I really do believe that at some point, the whole concept of publishers and publishing maybe goes away. Where, you know, much like we saw so much of the content on the internet today being user generated, you know, most of the content is made by individuals po…”

“Hardware is hard. So if I have the choice between investing in a hardware company, a software company, I'm sort of just leaning towards software, unless there's a real outlier.”

“If you were slapping a hundred X ARR revenue, or multiple, on a company doing fifty million in revenue, It's highly likely that they will never see that price again, whatever you paid for that asset, because the dilution and the deceleration and their growth r…”

“And one of the draws towards doing software and industrial hardware is that we generally think that the capital efficiency is one and a half to two times more than the consumer startups.”

“So if you don't have a plan for that happening, both in terms of how you gracefully do it, what you're asking for in return, and how you size your cost base, you're going to be in for a huge shock, and that shock is going to come in Q four and Q one.”

“And if you find out that a large proportion of them are actually enterprises, that's actually pull demand from the market that you should actually be up leveling faster.”

“Patents tend to matter less. There's less protection under patent law for software or patents anyway, and most of your success is going to be determined not by their protectability of your property under law, but rather your execution under the software. If yo…”

“I found it to be less competitive and less cutthroat and Then say, for example, you find the behavior and investing in a particular app or software company where you have, you know, dozens and dozens of companies that could are viable capital sources. There's …”