The Ledger, every show

“I personally don't believe that the models can innovate in a material way in a reasonable amount of time. I think they reach maturity in a way.”

“I'm not an expert in the field, but I believe that this is gonna we need Another giant leap of innovation to get there. I'm not sure just throwing compute and increasing the number of GPUs without some fundamental discovery, it's gonna create this.”

“So obviously there will be a world A few frontier models and a lot of dedicated models, and dedicated models will be built on the top of, I think is more likely to be built on the top of open source models that, you know, close source frontier models.”

“Agents will make recommendations. Agents are not gonna take actions directly. There will be a progression from agents making recommendations, going to a human user for validating, and then calling an action.”

“As long as it's gonna take for you know, the nice self-driving cars that we have today to be fully autonomous and to drive, you know, asides with people on the streets and they will just work.”

“I was talking to the CIO, which is close to us, and he said, I will never put data from Epic into Salesforce in order to create an agent. Never. There is no chance to do this. So, It's as simple as this. They will prefer to use us to have connectors, feed agen…”

“AI, Gen AI was not so successful in enterprise so far.”

“I think it's gonna take next five, 10 years to, with the current state-of-the-art LLMs, it's gonna take next five to 10 years to get to very wide scale deployment of agentic plus automation.”

“It's hard to see it at existing levels, and think about, I think half of NVIDIA revenue today is from these five hyperscalers, so, and if they are all in the business of building, it's kind of, I think it's hard, but obviously NVIDIA has such an important, you…”

“You will get some productivity improvement that I don't think will be Gigantic.”

“But in the end, we will beat, you know, any performance of GPT-IV or whatever, and they would be extremely reliable.”

“I don't think so, because I think nature is pretty smart. And if you look at how our Brain operates. We have a very good cognitive engine, but we are not using that cognitive engine to do trivial tasks. It's way too expensive. If you want to learn to swim or t…”

“You cannot use an LLM in an enterprise production in an autonomous fashion today. It's simply impossible because of the hallucination aspect and the lack of reliability.”

“Up to the day, the adoption, I think, the most interesting cases that we've seen are in, like, coding auto-completion. And outside this, I don't think there are a lot of money right now to be made, made already, but many people are trying. It's a lot of POCs.”

“LLMs are actually not good at following repetitive steps. You are not gonna have LLMs multiply to numbers. No, you are gonna follow an algorithm, and you are gonna use script language, or you will program it, right?”

“What's the interest of Salesforce to provide amazing connections to SAP and vice versa? No, it's not. So they will focus on building agents that work specifically for workloads that stay within their platforms.”

“I think the pricing models in the future will be both seat based and some kind of, they will have some kind of consumption based mechanism. Combine.”

“Even today I have a controlling stake in UiPath.”

“Japan, in 2017, was a country that brought us more revenue than US.”

“Even today, I don't think we have a line of code built for one customer.”

“Between seed series and series A that we did here in London with Axel, I had to raise a bridge round from my investors, from existing investors, and we were negotiating for a long time, like, to do a cap, like, 20% cap, and they wanted the cap, and I wanted un…”

“We fired, I think, like, 10% of the, or more, 15%, something like this, 400 people, probably. Out of the 303,000.”

“Carl decided that if Sequoia is gonna invest in RPA, he's gonna invest only in UiPath. Even before signing with him, he told me up front, very extreme candor.”

“We turned guys from four hundred million burn to cash flow neutral in just one year. It's almost unheard of. While growing 80%.”

“These validations will be actually mostly on the difficult cases in, in the longer term.”

“Yeah, it's probably less than 10, 20% penetrated.”

“Even today, most of our the way our product works is based a lot on the ideas, you know, that we incubated during these two years.”

“They ended up signing common shares in the end.”

“So then we've built all this, a product called Orchestrator, That is capable of scaling 100,000 of automations, or thousands of runtimes, and make the communication between them via queues, and you have, it's a pretty sophisticated system.”

“So this is why, in my opinion, the first We will get to autonomous agents, but by going through, first, we will have to have this digital assistants that work under people's supervision.”

“So we raised the first one in 2015. And we finished the year with, like half a million in revenue.”

“1.6 million to, I think, 8.1 post.”

“And he asked me, how much do you want for a license? And I thought, look, I had no idea. So, In a, on a, you know, on a hunch, I said, like, 10,000 dollars, and next day, basically, he wired the money without any negotiation, nothing.”

“So for a few years, until like, 2000 13, We were basically an OEM SDK business. Not very lucrative. I think most, I think at most we made like 200 K per year, which is kind of enough for it. It was like five people in the company, five developers.”

“Yes, they are yes, this is what I refer to. They are these T-five based LLMs, but trained with a lot of A lot of the data that we gather.”

“We discovered that many of our customers actually use multiple LLMs.”

“I was living on like, 30 dollars a month. It's one dollar a day, right? At times, I didn't have money to eat properly.”

“She introduced once to Nicole Kipman, and I talked with her, like, five minutes, because Nicole was doing a movie, In Australia where she played someone with a Russian accent. And she thought that listening to me would help her.”

“Because I bootstrapped UiPath for, like, 10 years.”

“Dan Lupo, which is great friend of mine, and he was the first investor that discovered UiPath, came to me and say, okay, Daniel, we can do unlimited, but it's gonna be 25% discount.”

“If I went in front of a computer, and I could focus like 30 minutes, and start to work, after that my anxiety was gone completely, and I just got peace.”

“We had like, I think like, 506 hundred million in the bank.”

“And, so we finished 2018, like, with a hundred and seventy-five million in ARR, something like this.”

“Our growth in Japan was for a couple of years higher than in the US.”

“When I was like 1920, and I started to play bridge, I didn't know any English at all. But the only good books about bridge were in English. So actually, I and a friend of mine both together, we put, You know, we had very little money, so we put together money …”

“I bootstrapped the company for almost 10 years. 10 years, actually. We raised our first round of investment in July, the 1015. I started the company in 2005.”