@gRamblings I always taxi from SFO to city and sometimes in the city
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Lee Hower
5.3K posts
Lee Hower
@leehower
Co-founder & Partner NextView Ventures, previously LinkedIn co-founder and foot soldier in PayPal Mafia. Obsessed with the big picture.
Boston / SF Katılım Mart 2008
826 Takip Edilen20.6K Takipçiler
The most contrarian thing to do in SF is take a taxi. Not a Waymo, not an uber, but an old school taxi with a human driver who doesn’t use GPS and drives like they have a death wish in a special taxi/bus lane. Faster and cheaper.
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Lee Hower retweetledi
This IPO illustrates the power of an individual partner over the brand name firm in VC. Pierre Lamond was a partner of both Sequoia and Khosla. But instead of those firms backing Cerebras, it was Eclipse (the firm he joined at the age of 84) that backed this little known chip company, multiple times, in the early years. What a way to wrap up a career (he was born in 1930, same year as Buffett).
Amir Efrati@amir
theinformation.com/articles/cereb… @coryweinberg @julia_hornstein @Katie_Roof
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Saw a Waymo on a tow truck yesterday. And realized these tow truck drivers may still have a job 20 years from now.
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The White House now officially acknowledges May 4th, via AI image generation + social media.
What a brave new world we live in...
The White House@WhiteHouse
In a galaxy that demands strength - America stands ready. This is the way. May the 4th be with you.
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Best VC firm blowups of all time:
1) Rothenberg Ventures
2) Binary Capital
3) Openview
4) Formation8
5) Social Capital
What’d I miss? Sadly, performance for most of these was good.
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@bznotes @redglassvc @NextViewVC Was great to swing by @redglassvc HQ and excited for you guys to be getting the firm launched
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Always a treat to have friends visit us at @redglassvc, and esp if they come all the way from Boston.
Lee Hower is founder of NextView Ventures. Early product/business at PayPal, cofounder at LinkedIn, and already a co-investor with us in our new fund.
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Great analogy. Though in fairness there are Ferraris that cost 4M+. I kinda want to see what a $30K frisbee looks like now…
Palmer Luckey@PalmerLuckey
Throwing Ferraris at Frisbees is a great way to get the problem across to the average person who might not follow these things closely. Ted is 100% right.
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@pitdesi @maxkolysh 3-4% of EV if SpaceX actually achieves a $1.5-2T mkt cap. Might even be a lower implied revenue multiple for Cursor than SpaceXAI if the former grows as much as it hopes in 2026
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cursor’s long term viability was contingent on maintaining access to ant/oai models. both are actively building cursor competitors
that’s an existential platform risk
to survive they need their own foundation models. training frontier models requires deep pockets.. and they found the guy with the deepest pockets in the world
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In the span of ~12mo Cursor has gone from crushing it, to maybe toast (Claude Code), to maybe raising at $50B valuation, to now likely to be acquired by xAI for $60B (via call option which now seemingly exists)
SpaceX@SpaceX
SpaceXAI and @cursor_ai are now working closely together to create the world’s best coding and knowledge work AI. The combination of Cursor’s leading product and distribution to expert software engineers with SpaceX’s million H100 equivalent Colossus training supercomputer will allow us to build the world’s most useful models. Cursor has also given SpaceX the right to acquire Cursor later this year for $60 billion or pay $10 billion for our work together.
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Lee Hower retweetledi
There's never been an investment like the investment in railroads. (This graph has a log scale!)
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@gRamblings @jamiequint Indeed. I also wonder about the durability of these businesses over very long term. Obviously model training will be an area of intense investment for years. But also feels like a “moment in time” opportunity, and at some point training will take a back seat to inference / apps.
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@jamiequint I tend to believe this too but can’t reconcile why many have raised significant capital from smart investors. They must be pitching some answer for true differentiation and defensibility at scale.
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On Mercor, Handshake, Surge AI, Turing, Micro1, etc.
If you're considering making a career move I would not go work at any of these companies.
These businesses are a race to the bottom. There is no structural defensibility in outsourced research/training data for a set of 5-10 very large customers.
Once the frontier labs have to start caring about margins, one of two things will happen: they will drive vendor margins down until these businesses trade at 0.5–1x revenue, like every other staffing company (potentially worse because of the customer concentration risk), or they vertically integrate.
All arguments about how these are important outsourced research companies that the labs really value are cope.
The Information@theinformation
Exclusive: Handshake’s gross annualized revenue from AI training has risen to nearly $1 billion, up from $550 million in January, a few months after it started the new business. Read more: thein.fo/3Ot5fdI
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Now more than ever, we can't dehumanize other people even if we might disagree or dislike them. I appreciated @sama's thoughtful post, which is both personally reflective and also far reaching on AI's impact. I'm glad he and his family are safe.
Sam Altman@sama
I wrote this early this morning and I wasn't sure if I would actually publish it, but here it is: blog.samaltman.com/2279512
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