George
@grgortiz
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In the arena; Product @meta, investing alongside @hustlefundvc.
San Francisco, CA
Joined September 2010
“We sometimes underestimate what we each can do to make things happen, and overestimate what others need to do for us.” @satyanadella
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Here are 8 trends we shared with LPs that we are seeing in this market 1) Down rounds: ~20% of VC investments are down rounds 2) Bridge rounds: ~40% of Series A & B are bridge rounds 3) Round velocity: Time between rounds has increased to 24+ months across stages 4) Lower
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1/ Incredibly easy to make something cool with LLMs, but hard to make something robust and consumable by end users.
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The ability to quickly distinguish signal from noise is undervalued in most of business.
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People reference “skate to where the puck is going” when speaking of product strategy. This implies two things: 1. You have high-confidence probability of future outcomes. 2. You have high-confidence of timing. Both are incredibly difficult.
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I’m super excited to make it official: @disiok and I have started a company around @llama_index, and we’ve raised a $8.5M seed round led by @GreylockVC! 🔥🚀 We are building the open-source data framework to unlock LLM capabilities on your private data. https://t.co/f6r5oRBaCt
medium.com
LlamaIndex raises $8.5M seed round, led by Greylock Partners
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Curious if @MasterClass will launch personalized tutoring product, where each masterclass teacher (using AI) gives you personalized feedback (eg. Bob Iger gives you advice on your business strategy)
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When something is not working, avoid augmenting & adding to; instead cut or restructure. Sound for both startups & life.
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Communicate simply & concisely; expand if necessary. The medium is the art.
Twitter's true network effect is that if you tweet for long enough all your thoughts come in tweet format
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A helpful way to measure value creation here is time-to-intent, ie. the time it takes from “I want X” to “I have X” and ruthlessly scope & prioritize against it.
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100% this — “here is something to think about” does not drive consumer value. You need to solve the full funnel (insight->action), ideally behind the scenes or with one click.
It’s probably a mistake to assume a chatbot UI is sufficient The things that capture real markets are more likely to be actionable and push oriented rather than require users to think, do work, or ask intelligent questions
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Early stage investors with AI thesis should be focused on “A is now possible” vs. “A is better with B”
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For every emerging AI-driven product feature, there are N startups. (eg. db read/write already has @mason_app @getLogicLoop @TextQL etc) This will demolish a lot of emerging early stage investors.
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If your "product" is just a bunch of calls to OpenAI's API, it will be dead before tax season.
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Wow: The S&P500 is exactly flat since the Fed started to hike rates. Imagine, we went from 0 to 5%+ rates and equities are… fine. 🥹 We did see a 17% max drawdown last fall… but all of that is now recovered.
S&P now exactly flat on a total return basis since the close on Powell's first rate hike on 3/16/22.
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Liquidity vacuum to risk-free assets; curious how this will impact LPs/funds at the series A & above on top of already restricted volume.
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Our little startup @lemonsqueezy grew by 40%+ again last month 🍋 To put that in perspective. We processed more payments in May, than the last 7 months COMBINED. 🚀 I thought I knew growing pains. I thought I knew what PMF felt like. This is a whole new level.
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