The thing that makes @ericvishria such a unique investor is his ability to identify winners across such a wide range of very different categories.
🏭 Confluent: $6.39BN Market Cap in data streaming
🧬 Benchling: $6.1BN Valuation in pharma
🤖 Cerebras Systems: $4BN+ Valuation in semiconductors
🗃️ Contentful: $3BN+ Valuation in the CMS space
📊 Amplitude: $1.06BN Market Cap in product analytics
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💰 Total: $20.55BN
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My 6 key lessons 👇
1. Foundational Models are the Fastest Depreciating Asset in History
BUT there is still value in the model layer.
OpenAI, Anthropic, Meta, Google, xAI are all competing for state of the art models.
It will ultimately benefit consumers.
Love to hear your thoughts on this @davidcahn6 @ylecun
2. The Most Exciting and Disorienting Time in History
The prize is so big, if it works there will be giant outcomes.
With that logic we can justify ridiculous investments on any fundamental basis.
BUT we also haven’t fully captured that much market value yet.
Love to hear your thoughts on this @honam @dafrankel
Sep 25, 2024 · 2:04 PM UTC
3. Why Benchmark have been more active than ever
The game on the field now is we have major shifts in AI.
It’s probably a bigger shift than any previous shifts combined.
We are now more active than we have been since 2010.
Love your thoughts on this @sarahtavel @bgurley
5. How to Identify Winners in a Hyper Competitive Market
I look at 2 things:
1. Is the entrepreneur extraordinary & do you believe in them?
2. Do they have an insight that is cogent?
The more competitive the market, the higher the bar you have to hold these 2.
Love to hear your thoughts on this @nchirls @m2jr
6. Can AI Make Money: Search Did Not Figure Out Monetization For 5 Years
Google only introduced monetization in 2000.
We are still in the early years of AI.
We’ll eventually figure out monetization, but it will not be $20/mo or an API bundle.
Love to hear your thoughts on this @AravSrinivas @michael_jmoritz
Spotify 👉 open.spotify.com/episode/1IS…
Youtube 👉 piped.video/dKQLq4NxMro