🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

Read this post and listen to this podcast. Open source is self reinforcing. More is more.

FROM THE ARCHIVES: Why marketplaces fail: Small and infrequent transactions are risk factors, but their impact can only be evaluated in combination with the structural properties of their network effects breadcrumb.vc/why-marketplac…

This whole (hilarious) escapade is because of an attempt to use AI the wrong way. The tech isn't remotely ready to accomplish any self-guided tasks. Treat it like an intern or a toy and you'll get much further.

The company that was already planning to lose $7b this year, is “reevaluating comp” to be more aggressive. Put that in perspective. 🤠🥳😎🙏 wired.com/story/openai-m…

Fun Fact: Figma has $1.54B of cash on hand currently but raised only $749M in primary capital in its history. It will go public with a negative (!) net burn over its lifetime of $791M, thanks to their efficiency and the $1B breakup fee received from Adobe.

With many AI companies growing *so* quickly, gross revenue growth has become a first filter for VCs to spend any time on companies. As someone described to me, "it's like heroin for these people." Figma's success is a good reminder that there will be a lot of alpha in a Series A

I discovered early in my life that business is easier if you have 90% plus gross margins. My 2017 post on gross margins is here: 25iq.com/2017/02/04/gro…. Same as it ever was

Shots fired 🍿

Amen. Younger investors need to pay attention.

AI is a sustaining innovation for Google

Invest your time

It is easier than ever to get hype and grow fast. (People are willing to try things) It is harder than ever to get people to stick and retain users over years. (People are loath to change habits) And the tactics for these are not even close to the same

There's a ton of pretzel logic going on trying to explain away the lack of defensibility of most AI startups. The worst one so far: "High prices will prevent people from switching". 😂

Doug Leone: “If you’re desperate, it’s a great asset” The Sequoia partner is asked what he looks for in entrepreneurs. He responds: “I think entrepreneurs—like investors—come in different flavors. And I will tell you, as I told my kids, that if you’re desperate, it’s a great

NEW: Paid AI adoption *fell* 0.5% in the latest Ramp AI Index measurement of U.S. businesses. Ramp Declines led by tech and finance sectors. Health care and manufacturing adopting *more* AI.

Zuck is doing a great job demonstrating that cash and liquid stock can be a hell of a lot more compelling than paper valuations and infrequent tenders.

FROM THE ARCHIVES: Platforms are a highly overused word in the technology world. Among actual platforms, multi-purpose platforms with native apps are much more scalable and defensible than focused platforms reliant on integrations breadcrumb.vc/the-platform-m…