Diego Recondo

HAU DA BA7ERA! 🔥🏆 ¡SOMOS CAMPEONES DE LA FIBA EUROPE CUP DE NUEVO! GURE ETXEA, GURE ARAUAK WE ARE BILBAO 🖤😎

I had a meeting with a Top 5% European lower mid-market GP today, and one of the partners shared is thought about Software Investing 👇 « Software is not 'dead' because of AI, but you now have to be much more disciplined in what you back. The market reaction has been partly justified, but the idea that all software companies will be disrupted is intellectually lazy. Instead, there is a clear split between fragile and highly defensible software businesses. The types of software we like have common characteristics 1. Backbone systems: software that sits at the core of a client’s operations and cannot be removed without breaking the business (e.g., accounting or ERP systems). 2. Ownership of proprietary data: the software generates and controls the underlying data, rather than just layering on top of existing datasets. 3. Strong distribution moat: customer bases built over many years through direct sales and deep integration, not easily replicated by a new AI-native entrant. 4. Regulatory barriers: software operating in regulated environments (e.g., certified platforms) is far harder to replace quickly. 5. Low tolerance for error: when mistakes have financial, legal, or operational consequences, clients are reluctant to switch to less proven AI-driven tools. 6. High technical depth: complex products with large codebases are more defensible than lightweight tools that can be rebuilt easily with vibecoding. Bottom line: we remain positive on software, especially vertical, mission-critical, and regulated solutions. The current environment as potentially attractive for investing, as valuations may be over-correcting due to generalized fears around AI. »

¡Mucho ánimo, Carlos! Espero que tengas una recuperación lo más rápida posible. Estos momentos de dificultad ponen en valor todo lo que estás haciendo. ¡Mucha fuerza y un abrazo fuerte! 💪🏼

🚨 Edin Terzić has approved all details of Athletic Club contract proposal, ready for new chapter at Bilbao. Formal steps needed and then official statement to follow. ⚪️🔴🇩🇪

Después de los resultados de las pruebas realizadas hoy, hemos decidido que lo más prudente es ser cautos y no participar en Roma y Roland Garros, a la espera de valorar la evolución para decidir cuándo volveremos a la pista. Es un momento complicado para mí, pero estoy seguro de que saldremos más fuertes de aquí ❤️

"Soy el tipo más afortunado de la historia de la NBA" La reflexión de Steve Kerr que debes escuchar.

I encourage everyone to watch this incredible documentary about one of the best to ever play the game, someone near and dear to my heart, and my former General Manager for the Lakers - the legendary Jerry West! Watch now on Amazon!

5.000 M€ gestionados de 150.000 clientes. Gracias a todos y cada uno de ellos por vuestra confianza.

Es justo y necesario recordar continuamente que el (generosísimo) sistema de pensiones español se sostiene exclusivamente gracias a una brutal transferencia de riqueza de jóvenes con sueldos bajos a jubilados con patrimonio sustancialmente mayor. Aunque sólo sea para pintar la cara a los partidos del mainstream político español, que se niegan en redondo a realizar modificaciones sustanciales en el mismo por puro interés electoral.

We are in the age of consensus capital: 1- Almost 75% of all LP $ raised by 5 funds 2- Almost 75% of all VC $ invested in 5 companies

LPs won’t tell you “no.” They’ll give you a sentence you can spend 3 months overanalyzing. Here’s what they actually mean 👇

The ultimate roster of tech podcasts. Who are your favorites?

We've been liberated from cable only to recreate... cable More charts: a16z.news/p/charts-of-th…

#TorrentePresidente 3 millones de espectadores! (Algunos partidos no tienen tantos votantes) La risa como mecanismo de defensa.

sequoia put out a blog post called "services is the new software" look at this map of over $1T in services being replaced by AI agents

Best solo of all time ?♥️♥️♥️ What do you think ?

Si no lo hubiera escrito hace 32 años lo volvería a escribir ahora.

Congratulations to @alo_oficial 🥹 We've got you covered ❤️

Coatue just put a number on what we’ve been seeing at seed for 3 years. Software = $0.2T market. Services-as-software = $5.5T. 25x. The shift is from selling tools (per-seat) to selling work (per-output). This is why the best vertical AI companies don’t compete with software incumbents. They’re compete with expensive service providers, BPOs and high turnover labor. A $2K/month AI agent replacing an $80K/year agency is the new business model.