The Ledger, every show

“I would probably today say that 99% are sheep.”

“I think when it comes to AI and personal AI, we may be at a moment in time where there is an opportunity for a new computer, a new type of computer that we may see in every home. A computer that runs your own personal AI on a chip that does not have to be as p…”

“There will be companies born today that will be larger in the field of AI. Then the companies that are the largest companies that we have today, and they will start as toys and they will start as something that is probably overlooked and something that is not …”

“This is Google that you're talking about, and they shed the bed so hard. They literally just went from like the most respected company in the world to laughing stock in a matter of month.”

“This will be the first product for Apple where they have more returns than they have on any other metric You. You can plot the graph, and it's since Steve Jobs came back, this is probably the first thing that is a turd.”

“The risk is not that there will be an evil AI that will kill us. I think the risk will be that by not becoming more intelligent and using these intelligent tools will become extinct.”

“No, I think Tony and I knew from the start that, that this is a tremendous business. If you can scale it and every market that you had at scale was profitable for us, and I know that the same thing was also true for DoorDash.”

“We negotiated the deal so well, there was no color on the deal. By the time the deal closed, it was almost five billion dollars.”

“I see no signs of the Postmates acquisition being written off because I think the brand is very strong. It continues to be very strong in LA.”

“So at Founders Fund, they obviously believe in this very deeply. We just saw this obviously with Keys leaving there and being somewhere else, they, the belief is that there is very little you can do to actually move the needle, other than writing the check. An…”

“I do believe that there's unlimited amount of capital out there, and I believe that it is easier and it's better worth your time by focusing on the people that initially believe in that than trying to ride two or three rounds with the same VC firm and spend tw…”

“Inference is very powerful the closer it is to the source of data. I mean, given that you, if you think about a personal assistant, the personal assistant needs a lot of information about you and inputs, That's why you would see that at home. It also is the on…”

“So when I call it dead I don't call it dead in the sense of we won't use it anymore, but I think it has reached the peak of its importance in people's lives.”

“On the Vision, as it is, how it is today? I, short. I think it's a product in search of a market.”

“It's a fantastic research company is how I would describe OpenAI. I think it remains to be seen if they can launch extremely successful products other than a chat based a chat GPT.”

“Most companies fail because the founders give up, and we refuse to give up.”

“I don't really believe in luck much. But I also don't have a definite answer. I think I believe in determination and grit and hard work.”

“A lot of times even the great VCs and a lot of hype can't really change the outcome of a company.”

“And I think he came out with a number that was around 2.2 or something, and we negotiated it up a little bit, but I didn't want it to push too hard, because the two things that we negotiated for are no breakup, Absolutely no way out and no color on the deal be…”

“I pitched him four times or five times the entire firm with Postmates. They were smart enough to say no”

“He pinged me actually, because a friend told him that I was working on something and he called me and I said, I don't even know if that idea is good. And he said he said, okay, like, you, Are you, do you want to do it again? And I said, yes. It's like, well, t…”

“I believe that one of the overlooked areas of the current state of AI and the large language models that we're using is that they're still very expensive. And as a result of that, they're dramatically more expensive than a Google search. And as a result of tha…”

“I believe that AI happened too fast and Apple is caught in sort of the inventor's dilemma here.”

“Oh, the first X dollar in revenue is always the hardest, or something like that. There is a version of that in, in, in, in, in sort of coming out of everybody I've ever met”

“We had just under a hundred million dollars left in cash, and our negative gross profit margin was, I think, single digits.”

“The fundamentals of, I think, the companies, and I can, I know this for us, but I have some insight in the other players. They were all pretty sound, and by that I mean there was a clear path to profitability. There was a clear understanding of unit economics,…”

“When we started out, when Postmates started out, this thing sounded so crazy that the only people that wanted to give us money were Brian Singerman and Peter Thiel.”

“As a matter of fact, we were planning to go public and would have probably been one of the last companies to do so before, ah, you know, the world ended.”

“And a for non-founder CEO, he really has, I think he has made this company his.”

“And so I try to do the investing thing and, you know, I do some investments, but it does not derive me the same amount of amount of joy than, Then actively building something.”

“The most important thing to realize is that it doesn't matter. We tend to take everything way too seriously. Like we, oh, if I fail, the world will think nobody cares. It takes a minute for everybody to get over it. Right? Something else will happen. Elon will…”

“No, it's expectations more in the sense when and sort of how, and I think there, there's a lot of friction there in general.”

“And look, we raised quite a bit of money. I think we raised around nine hundred million.”

“A year and a half earlier, there were some preliminary discussions with the Uber team, so there was some familiarity.”

“And with DoorDash being the, clearly the market leader in most of the U.S., but not in California and certain regions that That are very attractive. Where we were the number one.”

“And I have sold almost none of my shares.”

“When we discussed the merger, we sort of had this idea that you leave these brands, you start uniting the tech underneath, and then at some point it's the same product, but it sort of has a, basically a different name. And that's literally like the one differe…”

“After we signed the paper, because we had to run the company as a standalone company for, I believe eight, eight, nine months. So we had to hit our quarterly goals. We did not want it to have a scenario where we lose market share because now we're thinking tha…”

“What I found to be a very good strategy is to actually have the board meeting and non-board meeting and do a dinner the night before with a presentation sent out a week, but at least a few days ahead of time. At the board dinner, you discuss Any sort of tensio…”

“Everyone, every single round.”