The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Randle: Frontier AI models can now autonomously execute cyber attacks
“Zooming out, I think the most important thing in all this Is that we step back from Anthropic and realize that the models are to place now, whether they're from Anthropic or elsewhere, where they can autonomously find and chain multiple vulnerabilities togethe…”
Randle: US regulating Anthropic's Fable on capabilities is a Rubicon moment
“At the face of it, this is a Rubicon moment in the history of the AI industry. It's the first time that the US has ostensibly regulated an AI model based on capabilities.”
Randle: OpenAI has the fastest growth trajectory in tech history
“What ended up mattering is that it, you know, it's had the strongest and highest growth trajectory Of any technology company in history.”
Randle: Jasper AI reached $100M quickly then shrank due to low value
“Jasper, you know, I think it went zero to a hundred very, very quickly, but then actually started shrinking. And it was because it was sort of easy come, easy go with the revenue and they hadn't built enough scaffolding and they hadn't built enough like actual…”
Randle: Benchmark's top fund investments outperform all post-ChatGPT OpenAI rounds
“Out of our last fund, our five best investments in that last fund today held at LRP last round price are about a 60 X. We have two 30 X's and we have two 20 X's. Since ChatGPT was released, there isn't an open AI round that touches That return multiple and tha…”
Randle: Top public SaaS platforms trade above 15x NTM revenue
“You have, I mean, Palo Alto, CrowdStrike, Cloudflare, Datadog, Palantir, all these companies trade above 15 times NTM revenue again.”
Randle: Adobe trades at eight times LTM free cash flow
“I looked at Adobe and I was like, this thing trades for eight times LTM free cash flow.”
Randle: Code generation market reached $6B to $7B ARR in 30 months
“The market of code generation has gone something like, I don't know, over the last two and a half years, it's gone from essentially zero To probably like six or seven billion dollars of ARR”
Randle: Figma investment at 100x ARR generated a 30-40x return
“One of the first hundred X deals, I think, in SaaS, and people were like, a hundred X ARR, what the hell? And obviously it ended up being, you know, I don't know, 30, 40 X, unbelievable investment.”
Randle: Prediction markets show 70% odds of Tesla-SpaceX merger in two years
“If you look at the poly market Calci odds on a Tesla SpaceX merger, again, you know, not, not that those markets are so big that they're that indicative, but I think the probability that they have on there is something like 70% in the next two years or somethi…”
Randle: Cloud index down 44% over five years while semis rose 325%
“The Bessemer Nasdaq Emerging Cloud Index over the last five years is down 44%, and the SOX, the iShare Semiconductor ETF is up 325%.”
Founders Fund allows deal team members to personally co-invest
“So there's a program, for example, at Founders Fund where anyone that works on an investment or if you're leading an investment, you can personally invest alongside the firm.”
Randle: Tech offers far more $100B opportunities today than 15 years ago
“The outcomes are much, much, much larger in today's in today's technology landscape than they were 10 years ago, 15 years ago, there's more bites at, you know, potential hundred billion dollar, trillion dollar companies.”
Randle: Delian Asparouhov Sourced the Seed Investment for Ramp
“Dude, you sourced the seed of ramp.”
Randle: Each Benchmark GP holds a 25% equal stake in the firm
“Like each of us is 25% of benchmark, and we work really well together, and we're a super tight-knit team, but each of us has our own styles.”
