Dharmesh Shah: Economic downturns are net positive for early-stage startups.
Dharmesh Shah · How To Come Up With Billion Dollar Business Ideas | Hubspot Co-Founder Dharmesh Shah · Jul 12, 2022 · at 6:06
HubSpot co-founder and CTO Dharmesh Shah discusses macroeconomic cycles and startup formation with hosts Sam Parr and Sean Puri.
0:00 / 1:03exact quote · 63.0s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“So my position is I lean more towards kind of Paul Graham and the spectrum, which is, I think it's either neutral, that it doesn't matter. It's one of the things you're suggesting towards positive. And the positive elements of being in a kind of downturning economy or recession is that things become available that would not have been available to a startup before, like talent. It's like, oh, well, there are people sitting at meta Facebook or sitting at Google right now that may be reevaluating their lives, or they may have just been let go from a venture-backed company that raised 200 plus million dollars, right? So now you've got this Talent that's coming on the market that might not have come on the market before things that were super expensive, like buying Google AdWords or certain marketing channels because you have this glut of money and a glut of venture capital. Yeah, I think of venture capital as a very efficient machine of turning like money from LPs into Google AdWords revenue, right? That's they're just a conduit between the two. And as in a downward economy, you're gonna get less of that kind of glut of money flowing in, which drives the cost overall down for certain things that I think are important to entrepreneurs. So I'm generally net positive that endowment economy is actually a relatively good time to start a startup.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Dharmesh Shah
Shah: OpenAI is the startup most likely to reach $1T valuation
“It, it'd be up there in the top three. I honestly can't think of who else would rank higher in terms of probability of getting to that.”
Shah: LLM capabilities cannot be explained by simple next-token prediction
“It's able to do things. That are not explainable by a simple probabilistic model of auto-suggesting next character, next word, next token, next sentence, right? Like it's gone well beyond that.”
Shah: Prompt-driven text-to-video with director styles will arrive in 2023
“I would not be surprised, let's say by the end of this year, that we have a reasonable way to kind of describe in textual form what we want, who the characters are, what the scene is what kind of stylistic attributes we want. We can point it to, oh, I want thi…”
Shah: AI is an order of magnitude bigger than mobile
“I think it's the single largest opportunity and biggest kind of a tech paradigm shift we've seen since the internet originally came out. Like mobile was big but there was a discrete set of use cases. Like when you put a camera on a phone, when you put a GPS de…”