Answered raw tape
D 5 · C 4 · P 4 · Cm 4 4.30
Q It's just that easy. But why Texas? Like, I think this is an important thing. We're in Austin. Jason lives here. David Sachs lives here now. More people are moving from California to Austin. Why Austin? Why Texas? Why is it work here? And is it getting better? Is it just always worked?
A You know, I think Texas has had a, uh, you know, low tax pro growth, uh, environment for a long time and pro, you know, sort of progressive business climate. And, you know, if you sort of look at the, the growth of the Texas economy relative to the rest of the United States without Texas, You know, Texas just kind of looks like a better version of the U S economy. And, uh, you know, you, now you've got, uh, Austin is sort of just about in the top 10 cities in, in the United States. So you've got, uh, when that happens, you'll have four of the 10 largest cities in America in Texas. One out of 10 children born in the United States, born in Texas. Uh, more New York Stock Exchange companies in Texas than in New York or anywhere else. And, uh, you know, you've got the University of Texas here in Austin, which I would always think of as kind of the wellspring for a lot of the companies that are here, certainly ours. And, um, you know, long history of, of, uh, Innovative pioneering spirit and entrepreneurship. And, um, it's been a fantastic place for us.
AI assessment note: “Texas has had a, uh, you know, low tax pro growth, uh, environment”
Answered raw tape
D 5 · C 4 · P 4 · Cm 4 4.30
Q maybe Amazon's a good example, or, um, CSN stores, whatever they be, Wayfair, et cetera. What's the right way to think about this evolution in industries generally? Are we going to have Their businesses are going to transition successfully and those that aren't, they're going to die. And is this really going to, are we going to see AI native businesses in every industry come in and just disrupt everything?
A I believe we will. And certainly, you know, when you talk to the Collison brothers at Stripe, they'll tell you that the Rate of growth of the 20, 25 cohort companies is about four times faster than the 20 18 companies. And so every year, the new batch of companies are growing faster and faster because they're starting with all these new tools that, you know, because they see all the new companies on their platform. Exactly. Right. And so when, when you think about, uh, an incumbent company, okay, that already exists, it has, let's say it's got brands, it's got balance sheets, it's got You know, customer relationships, you know, whatever stuff, right? Okay. Um, but that's sort of like, those are expiring value assets. If it doesn't change quickly and get onto the other side of this, I think it will go out of business and which is exactly the speech I gave to our team, you know, three, three years ago. And, uh, I think, you know, you, you, you, you have to be, Uh, bold, and you gotta go make those changes to, to not only survive this, but, but to, but to thrive. And, and, you know, I think about it is how do we prepare our company to be ready for the 20 thirties?
AI assessment note: “I believe we will. And certainly, you know, when you talk to the Collison brothers”
