AI startup

“If you are in AI or AI adjacent, you should be raising every three to four months, in my opinion, and you should be doing it aggressively.”

“Now we're seeing companies, you know, five million revenue in AI revenue, and they're raising at five, six, seven hundred million valuation. That's price to perfection, right? We're talking about a hundred X multiple sometimes in these cases.”

“So I think we're probably going to see a big drop off.”

“Well, what I'm seeing is it's made it very difficult for non AI, AI companies to get funding. I think like a lot of folks are kind of expecting, like when there are companies out there going from zero to a 124 months, it kind of like resets the bar. And if you…”

“I think it's very unclear right now what Out of all these companies who has a moat, but I do think like speed right now is kind of the only moat that you can have.”

“Definitionally, most startups are going to fail. And this wave is going to be just like every other one. And the place where every founder and investor think they are is in the right companies, right? And the reality is most people aren't, right? 90% of people…”

“A lot of the deals that I'm doing are in AI, but they're all really companies where the series A is still sub a hundred million dollars, right? We're right at a hundred million, which is still kind of high, but nonetheless not totally insane.”

“Carta put out a recent report that Series A's that are AI enabled, or AI in their name, are getting a 30% premium.”

“And if you prod deep enough, I would say for at least 90% of companies, they're actually just, like, changing a prompt on an LLM, right? And then they're pitching all of this other stuff that they hope exists or want to believe. Could be the future of what the…”

“All asset management industries have some scale benefits to them. Venture traditionally had less and now has a lot. So if you're going to back a new AI startup, you can't show up with a million dollar check or two million dollar check that it's useless or let …”

“We know specifically, like we know the numbers, we know sales figures for some of these companies raising at Hundreds of millions to billions, and again, we're looking at thousand x to, you know, hundred to thousand x multipliers, like, a lot of these companie…”