Invest Like the Best
@InvestLikeBest
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Learn from the world’s best investors, founders & executives / hosted by @patrick_oshag / part of @joincolossus
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Joined July 2020
The consensus is that there are no new moats with AI, just new technology. But Jesse suggests there *is* a new, emergent moat that is unique to AI but builds on several traditional ones: a self-reinforcing moat. The agent starts by embedding deeply into a customer’s workflows
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"Everyone's definition of good is just the best they've personally seen." What @ZachBDell has learned from Blackstone, @JoshuaKushner, @JLopas, @colecjones + @JaredMGreene, Dana Paz, Dino and @MichaelDell (his father): Blackstone → Discipline as a Competitive Advantage “I saw
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"If you want to be a leader and you want to end conflicts, you need to figure out how to create compromises so that these conflicts can end. I think the whole world could benefit from a decade of rebuilding where people focus internally on building their countries and their
Jared Kushner brokered both the Abraham Accords and the Gaza Peace Deal. Absolute legend.
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We will lose the AI race and every other new important technology (quantum, biotech) to China because their cost of electricity and compute are significantly lower than ours. "If we don't work maniacally to build out the infrastructure in this country to drive the cost of
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As Zach said it's not about the money but what they'll do with it. In this conversation with @patrick_oshag, Zach outlines the vision and ambition for Base and powering the future.
My conversation @ZachBDell on building Base Power If you are interested in energy, the grid, and how each are changing, this is an awesome overview Even since we recorded, Base is scaling at an impressive clip A company, and entrepreneur, to watch
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"What SpaceX did to aerospace, what Anduril did to defense, Base wants to do to energy." When we spoke with @ZachBDell three months ago, he shared a masterclass on the grid, energy, incentives, and batteries. It's a singular articulation of why Base exists and his ambition for
Today we are announcing our $1B Series C, but money isn’t the story. The story is what we’ll do with it, and the scale of the challenge ahead. Our mission isn’t constrained by capital, supply, or demand. It’s constrained by talent. To build America’s next great power company, we
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Was riffing about this with a friend today - this still might be the best VC podcast ever. Most podcasts with rare guests tend to be capstone episodes where someone breaks their silence to reflect on their work. Those are still super interesting, but just a different flavor
My conversation with @JoshuaKushner This is Josh’s first long-form interview of this type, so we cover as much as possible Thrive manages $15B, invests early and late stage, and often starts companies in addition to investing We pick it all apart: https://t.co/AtZLJD8NFy
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.@thejessezhang on AI app margins: "Your margins shouldn't matter that much. Things are improving exponentially, and the cost will go down exponentially as well. What really matters is market share and mind share of users."
It's been open season critiquing AI app margins Fixating on margins...and ignoring a company's value to its customers, retention and ease of acquisition completely misses the mark @martin_casado & I address what critics get wrong + what really matters👇 https://t.co/JRA9431cxW
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Our favorite ideas from this episode:
My conversation with @thejessezhang Decagon is building a customer service agent with AI, with plans for much more than that. It’s one of the more successful early AI applications, with tons of lessons for the rest of the market. I love how Jesse developed which problem to
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The best investors give a lot of signal *before* investing that they actually have the ability to help. Founders are increasingly sensitive to whom they let on their cap table. To win a hot deal, you need to show how you can help *them* win before you commit. "During the stage
My conversation with @thejessezhang Decagon is building a customer service agent with AI, with plans for much more than that. It’s one of the more successful early AI applications, with tons of lessons for the rest of the market. I love how Jesse developed which problem to
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Jesse Zhang on culture: "There's no challenge that can't be overcome and there's no enemy that can't be defeated." The will to win is palpable.
My conversation with @thejessezhang Decagon is building a customer service agent with AI, with plans for much more than that. It’s one of the more successful early AI applications, with tons of lessons for the rest of the market. I love how Jesse developed which problem to
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This narrative is largely under-discussed. Coding with AI has the biggest impact "when you write net new code which is a lot of what you do as a startup and a tiny bit of what you do as a big company." But when these models get big enough "to understand really large and complex
My conversation with @GustavS on how Spotify builds its exceptional product This is like a builder version of “this is who you are up against.” IMO, Gustav sets a standard for operating excellence. We discuss everything: product, applying AI, leadership, company building, and a
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"There's nobody on earth you owe more to than your parents." - David Tepper His relationship with his father was "difficult", but he learned important lessons from him: "Treat everyone the same and with respect - both the president and the garbage man."
You can always understand the son by the story of his father. The story of the father is embedded in the son.
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When we sat down with Spotify's new co-CEO @GustavS four months ago, he explained exactly how they built Spotify into a $130B+ audio "super-app" The Spotify Operating System: Lessons & Principles 1. Surf the macro winds 2. Synchronization is how you move at scale 3. The Bets
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> power is a bottleneck > but it's not actually a lot of power (data centers are like 3–4% of US power - 2 of which are AI data centers) > the real bottleneck is we just don't know how to build power anymore > it's a supply chain thing > it's a lack of labor/know-how > OpenAI is
It's not about GPUs anymore; it's all about POWER. A comment from a $GOOGL employee working on datacenters: Getting GPUs and TPUs is not a bottleneck. "Power, lack of available power, reliable power has become the biggest bottleneck for us." on @AlphaSenseInc
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Dylan’s takes on OpenAI, Anthropic, AMD, xAI, Oracle, Meta, & Google: OpenAI → “Super awesome.” Anthropic → “I'm actually more optimistic on Anthropic than I am OpenAI…Their revenue is accelerating way faster because what they're focused on is more relevant to that $2
My conversation with @dylan522p on everything you ever wanted to know about the incredible buildout happening in AI infrastructure This is a whirlwind tour through the companies, deals, models, chips, power sources, partnerships, and people powering AI Dylan is some sort of
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My conversation with @dylan522p on everything you ever wanted to know about the incredible buildout happening in AI infrastructure This is a whirlwind tour through the companies, deals, models, chips, power sources, partnerships, and people powering AI Dylan is some sort of
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Barry Diller ran, built, and often revolutionized ABC, Paramount, and Fox all by the time he was 49, making more legendary movies and shows than I can list… And then he really started making money. He bought QVC, and then went on a tear, investing as an “internet opportunist”
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