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Bhargava: General Catalyst targets 30% to 70% automation for AI roll-ups
“So one thing we're careful about in the AI enable rollups is we target 30% automation at least, but we actually don't want more than 70% automation because if something is approaching 80, 90 or a hundred percent automation, then there's really not the people s…”
General Catalyst plans to hold in-house transformation companies long-term without IPOs
“We have a wealth management business that we've set up to help founders manage their money. That's another company we've built in house that we plan to hold for a very long time. And then finally, we have now an AI consulting business called Percepta that real…”
Bhargava: General Catalyst put ~$1.5B toward creation strategy in last fund cycle
“In our last fund cycle, we put up to work about a billion and a half on the creation strategy.”
Bhargava: GC funds acquisitions for about half of its AI incubations
“Or in about half the cases after incubating an applied AI company, we actually give them capital to go by their distribution, by their client list and the data that comes there.”
GC invests $100M to $150M across 3-4 rounds per AI roll-up platform
“So at GC, we've been investing between a hundred and a hundred fifty million in each of these projects, but over, you know, three or four rounds of funding. We like to lead at least the first two, and then we start bringing in other investors in the third or t…”
General Catalyst adds operating costs by hiring engineers and adopting LLMs
“Some of this AI technology, you add costs, right? So you can't go in, add debt, cut costs. We're actually going in and we're adding costs. We're saying hire engineers. We're subscribing to LLM based software. It's like we're going in and investing in adding co…”
General Catalyst created Percepta to execute enterprise AI implementation
“But at GC, we created a company called Percepta, one of our transformation companies that we want to hold for the long term. And they, you know, the thesis there is that maybe traditional consulting isn't really designed for a lot of the AI implementation piec…”
GC Creation fund aims to IPO incubated companies in 7-10 years
“We on the creation side are incubating companies But ones that we would want to take public in seven to 10 years. So they're not necessarily companies we majority own or we would hold forever, but they're businesses we think really should exist that we're crea…”
Bhargava: GC identified 10 target industries where AI automates 20-30% of tasks
“So then we map those forms of automation against these 70 industries. And we came up with 10 where we thought we have really high conviction that at least 20 to 30% of tasks, again, not people, but tasks can be automated.”