Waymo's market share is now equal to Lyft within SF. Incredible. Network effects is one of the best sources of defensibility. But it's proven to be not that important in ridesharing. You need a minimum network size, but once you have that, there are diminishing returns. In

this is what you call a layer cake chart @figma

Proud to live in SF. Friends from NYC: you're welcome here. We have AI, Waymo, 60 degrees year-round, and burritos, with safety and capitalism on the rise.

@HebbiaAI @gsivulka @alexrkonrad @UpstartsMediaCo Excellent coverage by @alexrkonrad on Hebbia's product expansion and acquisition.

The first job of a financial analyst is info retrieval from filings, reports, internal docs. That was Hebbia’s v1. The next job is turning that info into outputs. Today Hebbia launched content generation. Hello branded presentations & memos. The AI financial analyst is coming.

"The battle between every startup and incumbent comes down to whether the startup can get the distribution before the incumbent can build the innovation."

Watch the full episode here (or listen on any of your favorite podcast platforms):.

Gross margins always matter, but many AI apps have low gross margins. We can overlook low gross margins short-term if:.1) margins are low b/c of LLM costs.2) the product adds meaningful value beyond the model (e.g., proprietary workflows, integrations, data)

LTV/CAC is an output metric, but higher LTV/CAC -> higher margins -> higher valuations. We @a16z found 3x LTV/CAC companies earn 3x the valuation multiples of 2x LTV/CAC businesses.

CFOs should lead how AI gets deployed across a company. Even though he's not a CFO, I like how @tobi put it in his memo: before asking for more headcount, teams should be clear why the work can’t be done with AI. If engineering wants more people, they better already be using

CEOs sell the dream. CFOs validate it. Everyone knows @DavidBaszucki paints a bold metaverse vision for @Roblox. Credit to their CFO Mike Guthrie for making the bold believable.

When @stripe co-founder @collision took over the finance dept in 2023, he brought incredible intensity. That year, Stripe's margin expansion was in the top 1% all-time for companies of their scale. The best CFOs have a founder mindset, whether they have the founder title or

Really enjoyed joining @cjgustafson222 on the Run the Numbers podcast. We covered the evolving role of CFOs and the metrics investors are looking at in the fast-moving AI world. Few highlights here, and clips in the thread.

the #1 question from every New Yorker who visits SF: “when is Waymo coming?”.

France tried to shut out the Israeli defense companies at the Paris Air Show. Israeli Dynamism 🇮🇱🚀

RT @TaliaGold: Proud to be on team David in history's most epic David vs. Goliath saga 🇮🇱🇺🇸.

how it started, how it’s going

One year ago today, @alexandr_wang shared Scale will hire for MEI: merit, excellence, intelligence. TechCrunch told him to “fuck all the way off.”. Never bet against meritocracy.

RT @EMinSF: It was cathartic to speak openly about the wave of debanking I've seen across our @a16zcrypto portfolio in recent years. Deep….

RT @bhorowitz: This is an extremely important point for entrepreneurs and a big driver behind everything that we do.

it's not every day you see a Monte Carlo simulation modeling the transport of millions of humanoid robots to Mars to build a permanent colony. respect @CathieDWood @ARKInvest, and this is not investment advice, but let's go @elonmusk @SpaceX .