When I look at a lot of AI application layer companies, if you go through their LinkedIn and you look at the engineers that they're hiring, it's like 90% front-end engineers, which is interesting to me. And a lot of that reason is I think like vibe coding works much better with front end than it does for infra. And a lot of I think what's happening to AI companies or is going to happen to them and it happened to us in early 2024 is you do a bunch of front end and you make really pretty UIs and really nice d ...

I think the value of B2B SAS is about to become astronomical. >> Do you think we're seeing a plateauing in performance across the different model providers. >> I think that we're seeing a plateau in performance for consumer use cases.Probably what's going to happen is the economy is going to explode. These companies are going to have crazy expectations for what they can do. I think a lot of people in deals, they think that movement is action.It's not true. The second piece is know when to not negotiate. Thi ...

I think the value of B2B SAS is about to become astronomical. >> Do you think we're seeing a plateauing in performance across the different model providers? >> I think that we're seeing a plateau in performance for consumer use cases. Probably what's going to happen is the economy is going to explode. These companies are going to have crazy expectations for what they can do. I think a lot of people in deals, they think that movement is action. It's not true. The second piece is know when to not negotiate. T ...

In a world of venture capital, we all sell the same thing. Guom, you know, VCs, they all sell you the same thing. Knowledge. I'm really smart at SAS. I'm really smart at fintech. That's why I'm great. Or network. I was at Meta for 10 years, and so I know everyone spinning out of Meta. I say, "No, no, no, no. I am average IQ. I'm not that special, but I create products that my customers, which are founders, want to buy.And my biggest product is media and distribution. We have millions of fans and we have hun ...

Also a big problem that people make, they don't have opinions around the culture. Like we choose people who want to work unreasonably hard and make a huge amount of money. If that's you, then you should join 20 VC. If that's not you and you want a weekend and you're happy to make less money, you should absolutely not join 20 VC.I will text you at 1:00 a. m. I don't agree with like not texting and not working hours.And so we have a very clear opinion around the culture that we build. It's a bit like a cult, ...

How much new code created today is written by AI. >> I think we're basically at the point where we're approaching about half. I think that it can go much further than that.In 24 months, I hope it's like 90%. >> When it's 90%, what do we do. Do you have less engineers. Do you just create way more products.>> I think it's it's absolutely the latter that we build that we build more things. I have never worked at a single company that doesn't have an infinite road map that that doesn't have like a we're done he ...

There's some questions which will clearly identify whether someone has a higher chance of being great. Number one, at what age did you start your first entrepreneurial activity. Great entrepreneurs start young.Very very rarely does a great entrepreneur start their first thing first thing at 27. Oh, I was building websites when I was 13. Oh, I was selling sticker books when I was seven, eight.Entrepreneurs tend 90% of the time to start very early. Number two, the clan that you are in in a gaming community is ...

In the early stage, you're taking uncorrelated business risk and in the late stage, you're taking 100% correlated valuation risk. If the growth is there for one more year, it looks cheap. Now, this week, we have a lot to cover.Anthropic's $10 billion fund raise, XAI raised $20 billion, and Dre and Horus raising $15 billion. I would be nervous if I was a 27 billion precursor investor, but they've created something amazing. >> If you're open AI, are you not slightly nervous.you're being eaten away by anthropi ...

In the early stage, you're taking uncorrelated business risk and in the late stage, you're taking 100% correlated valuation risk. If the growth is there for one more year, it looks cheap. Now, this week, we have a lot to cover. Anthropic's $10 billion fund raise, XAI raised $20 billion, and Dre and Horus raising $15 billion. I would be nervous if I was a 27 billion precursor investor, but they've created something amazing. >> If you're open AI, are you not slightly nervous? you're being eaten away by anthro ...

I think where I've made big mistakes is where I've gone, you know what, I know that they don't fit that, but they're really good at X role. It's more important that they're actually a cult culture fit than they are a skill fit. I can teach people most of the skills that they need to be successful. I can't teach them the mindset in a lot of cases. ...