Prediction Not checkable as stated
Deeter: Foundation models will become tech's new hyperscalers
“Our belief is that the foundation models are going to be the new hyperscalers.”
Prediction Not checkable as stated
Deeter: Anthropic can capture the number one foundation model slot
“The better in Anthropic was that they would be one of those companies and that they had the chance to compete at the one slot, which we very much still think they do.”
Prediction Open · timeframe Apr 2027
Deeter predicts a one-person billion-dollar company will exist by 2027
“In my mind, I'm thinking a year and I'm holding off whether that means 13 months, whether it's a calendar year or through the end of January, but I think it's that soon.”
Insight
Deeter: Replacing founder CEOs is destabilizing because founder insight is irreplaceable
“I think that the founder product insight is irreplaceable. And so much of these businesses today are product led that we want to back founders who are unique and differentiated there. And we want them bought in for the journey. And tapping out and hiring a rep…”
Insight
Deeter: VCs shouldn't try to turn mediocre startups into great ones
“Don't try to be the operator. And that manifests itself in a few ways, but one of them from the investing side is don't find things that are doing okay and going to fix them so that you go from, you know, good to great. Go find the teams in the business that's…”
Assertion Not checkable as stated
Deeter: Three Bessemer portfolio CEOs stepped down from stress in 2024
“A year and a half ago, I had three CEOs in the same year tap out, including one that had to go away and needed real time.”
Insight
Deeter: Startups should target the hardest customers as early design partners
“It's somewhat counterintuitive, but you actually want to seek out the hardest, smartest customers and have them beat the crap Eddie. Because Others will follow their peers in the industry, know how good they are and learn from them. So take on the hard first a…”
Insight
Deeter: VCs should follow a 'do no harm' rule on boards
“Hippocratic Oath of Venture, do no harm, like stay the hell out of the way when things are working. And send them customers, send them candidates, but like get out of the road if they're executing well and going don't try to give product input, you know, out o…”
Disclosure
Deeter: Bessemer shares all diligence concerns and red flags with founders post-investment
“We are Totally transparent with our diligence issues and concerns, and we don't dance, like, we'll literally share it after the investment, like, here's the readout, here's what we heard, here's, you know, here are the really red flags.”
Assertion Contradicted
Deeter: ServiceTitan is valued at $10B with massive remaining growth upside
“You know, they're at ten billion already and sky's the limit in terms of where that can go.”
Disclosure
Deeter: Bessemer's investment in Anthropic is the firm's largest check ever
“It was one of our largest checks, and now is, is our largest check ever.”
Assertion Not checkable as stated
Deeter: Capital is leaving non-AI legacy cloud companies for AI natives
“We are seeing that separation where gen gen one cloud companies who are not adopting are getting pounded and that capital is leaving that category and going over to the AI natives who The bet is they're gonna be the disruptors.”
Assertion Not checkable as stated
Deeter: Bessemer's average startup investment holding period is 14 years
“We just ran the math. Our average hold period is like 14 years, longer even than I thought.”
Disclosure
Deeter reveals Bessemer passed on early investments in Tesla and Atlassian
“And so, you know, for me, it, it's companies like Tesla early on and Atlassian on the software side and, you know, on and on like this, where massive respect for the entrepreneur belief in the vision and just couldn't quite get there.”
Assertion Not checkable as stated
Deeter: 95% of VCs rejected his early cloud startup pitch
“Nine and a half out of 10 venture capital meetings when I went pitching threw me out essentially after the first few pages.”
