The Ledger, every show

“If you're going toe-to-toe right now with an incumbent on their home turf and their shipping, I think it's a hard bet to take the opposite side of, you know, in our business.”

“Well, you know, I think there's a lot of people that said no. So at the end of the day, I, you know, there, as much as I like to think we want a really competitive deal, I do think It was not obvious to everybody, and even now I don't think it's still obvious …”

“We're not talking about building the next unicorn or decacorn. We're talking about disrupting search or Google. I mean, that's a trillion dollar opportunity.”

“I do think, again, the dimension by which people are going to think about this in five years from now, looking back, isn't going to be about The commoditization of the model and the raw output, it's going to be, oh, the ecosystem around the model has become mu…”

“And so if you're a startup, I get that you have the advantage of speed, but you need a multi-year execution window to be able to take advantage of all that product you can ship quickly. If these big companies are able to ship this quickly, they've got so much …”

“Yes, if you're going toe to toe right now with an incumbent on their home turf and their shipping, I think it's a hard bet to take the opposite side of, you know, in our business. But if you're creating something that's totally a different user experience that…”

“I have to believe it's gonna accrue mostly to the application layer. I think if you think about infrastructure companies as platforms, you know, if you think about the software market as the relatives, the value of AWS and Microsoft and Google cloud versus the…”

“We're able to kind of separate ourselves from the kind of quantitative rigor that, you know, we rely on for a lot of investments we do and hold the tension of what could go right.”

“The scalability properties of what they have built are so good that, you know, we'd rather bet on the compounding upside of that scalability Than sit on the sidelines because once it's clear, it'll get priced up very quickly.”

“If you think about where the best talent in AI is right now, I think it's open AI. And then I think everyone would tell you it is Google and Facebook and Microsoft and Amazon. And maybe there are folks that have kind of dripped their way into the startup ecosy…”

“But if you're creating something that's totally a different user experience that no incumbent has today, I'd bet on a startup 10 times out of 10 in that case.”

“Many of these companies and we spent a bunch of time with them and we kind of kept coming back to the fact that they were thin user experiences on top of this cool thing, which was this model”

“The way we kicked off the round was he did almost like a closed demo with lots of investors on a couple of calls of the technology they're working on and ultimately in GPT-IV.”

“But the technology, if you really think about it and the zeitgeist it's captured, I mean, it is of that elk, in my opinion, of the transformation it can have of the world.”

“And some companies will choose that path, but by and large for the vast majority of companies, particularly ones that have scarce resources, which are many of the ones I work with, you know, I don't want you spending time building infrastructure and scaling op…”

“If you think about where the best talent in AI is right now, I think it's OpenAI, And then I think you'd, everyone would tell you it is Google and Facebook and Microsoft and Amazon. And maybe there are folks that have kind of dripped their way into the startup…”

“If you're really answering that question, you're struggling because you think in two weeks from now, there's a chance that the customer doesn't care or the product won't have any value. Well, that's hard to build a company around. And so in any of those enviro…”

“On GPT four, we saw the demo in the fall. They didn't just release the product then they took, I think four or five months To test and learn about safety in the edges of the model and then ultimately released it to the world.”

“Regulators, I've been impressed with how up to speed they've gotten on crypto, and they've really taken time to learn about it.”

“No iconic company, you know, at least that we've been a part of, was it clear and obvious in the early days of that technology, they always get priced well ahead. And they look cheap in hindsight because they defy the gravity of the model.”

“And frankly, I think there are a lot of firms that Could not have done this because their organizations are not set up to make these kinds of big decisions.”

“When I was at Tiger, I flew out to Sydney and spent a bunch of time with the Canva team in person. And, you know, it's obviously now people know about it. It's a remarkable company at the time. It was much smaller than it is now. And At the same time, we were …”

“There's only two questions that matter for a company. Who is the customer and what is the product? And you'd be shocked at how many folks can't really answer that question with clarity.”

“The way we'd ask that same question is, if I'm a SDR on your sales team and I'm trying to qualify a prospect, you know, what am I looking for? At the end of the day, it's really the same question. You could even argue that the way we do it at Thrive is less ef…”

“Trust with founders is actually just being very predictable. People want to not feel like they're getting surprised by how you're thinking. They want to understand how you think, how you're going to react and feel like, you know, they understand you.”

“In good times, people over extrapolate in bad times, people under extrapolate.”

“The best companies have very, very simple explanations that, you know, it trickles down on the company. The CEO can articulate in one sentence, but the manager four rungs down also can articulate it. And that means that that manager knows how to go left when t…”

“You can't walk in biased about what you're looking for out of the metrics of a company or what the product should result in in metrics. You should walk in and try to have a very open mind and say, do these metrics explain the qualitative of the business that I…”

“This is probably more, this is not for the rapid fire, but you know, one thing that's become clear as we've kind of come out of or gone into this more difficult environment to operate in is in the good times, we probably over attribute to teams and products, h…”