software

“The end of software was, you know, a meme in many ways. A lot of the best AI products are software meets gen AI.”

“Agents, the comp is not other software, it's humans, right?”

“In software, our margins are high, and it kind of covers up mistakes that we make, and we actually had revenue relatively early in our journey, whereas, in, like, in biotech, you have to invest in it for 10 years to try to get your first dollar revenue sometim…”

“There, I expect there will continue to be more. I expect there will be big booms in software. I think it's just gonna be volatile for a while as people figure out what this looks like”

“If AI commoditizes software, what's actually safe? Regulated, liability-bearing businesses. Someone has to be on the hook. Anything touching the physical world. Hardware, manufacturing, energy. That's a kind of Tesla narrative.”

“Software has undergone the largest non-recessionary, twelve-month drawdown in over 30 years. That's -34%. Wiping out two trillion of market cap from the peak. This is JP Morgan as of a couple days ago.”

“Software has undergone the largest non-recessionary, twelve-month drawdown in over 30 years. That's -34%. Wiping out two trillion of market cap from the peak.”

“For me, software today is generally in this, in the too hard basket.”