The Wisdom Wall

“investors have a strong incentive for you to keep going because you're just an option once they put money in. And so if they get 50 cents on the dollar, they don't care, and they'd rather you just keep trying because you're just a free option. They already have the ownership. They've already put the money in.”

“I also think honestly as an incumbent you have a couple years to figure it out because you tend to have so much distribution that you can launch four years later and still You know, when, as it were”

“And in the internet wave, you could argue 80 or 90% of the value went to startups. And in mobile, it was the other way around. Almost all the value went to incumbents, and in part it was because it was an extension of access and UI.”

“And if you just look at the headcount resident in those services, legal and accounting and certain types of sales and nursing, and you just kind of go through it all. And you add up just the payroll. For those areas, it's about three and a half to five trillion dollars, depending on what you include that you think Gen…”

“people say that these things are just wrappers on GPT in some cases, and you're like, well, SaaS is just a wrapper in a SQL database, and that worked out just fine for lots of people.”

“And so it's actually harder to buy things as a public company as it is from a private company, which is why I think what Databricks is doing or some others in terms of buying things while you're private is really smart because it's going to get harder once you're public due to all the scrutiny.”

“I think if things aren't working, I think because money has been so available, people have kept their companies going longer than they should. And in a lot of circumstances more recently, where sometimes the best thing you can do is just kind of quit and restart and go do something different.”

“investors often don't want to have tough conversations because they want founders to refer their friends to them and they don't want to be the The kind of tough person or whatever.”

“For the application layer, can you eventually take over a workflow? What is the workflow that you're enabling? Because really what you want is if you swap in and out underlying models, you're still sticky somehow, and a model improving doesn't commoditize you, it accelerates you.”

“I think there's two types of diversification. There's diversification within a technology wave, and there's diversification across waves. And what I was referring to for that end of cycle post was diversification across waves... I think that's a little bit different from saying, wow, there's such a big shift in…”

“all the things that used to be social networks turned into social media. You know, and so how we thought about networks versus broadcast shifted pretty dramatically, and there's probably still room for interesting networks.”