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Art
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Art
@HardcoreCap
Entrepreneur, Investor - startup exec at 5 VC backed startups, 8 figure fintech exit, eng leadership exp in FAANG - anon account to experiment with ideas freely
🏖 加入时间 Aralık 2020
700 关注523 粉丝
Copilot Coworker Agent is next ✌🏻
Satya Nadella@satyanadella
Announcing Copilot Cowork, a new way to complete tasks and get work done in M365. When you hand off a task to Cowork, it turns your request into a plan and executes it across your apps and files, grounded in your work data and operating within M365’s security and governance boundaries.
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@CanadianPM Bro's version of honesty is side letters from Qatar and China while being middle ages powerey on Iran
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The old order is not coming back.
Nostalgia is not a strategy.
From the fracture, we can build something better, stronger, and more just.
Canada is choosing honesty, strength, and action.
That’s our path.
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@buccocapital he's been fairly spot on regarding the activities typically associated with software engineering
Anthropic hiring engineers to build the machine that builds the machines only means they intend to accelerate, at the rate talent and culture will allow it
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"Tehran is carrying out its most repressive crackdown in decades," the Editorial Board writes. wapo.st/3Nu6uc2
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even the microphone is gay
Brian Allen@allenanalysis
🚨 BREAKING: Emmanuel Macron just flatly rejected Trump’s Greenland fantasy. The French president made it clear: Greenland is not for sale and will not be taken. A direct rebuke of Trump’s threats and a reminder that allies aren’t colonies. That’s what leadership looks like.
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Art 已转推
@qcapital2020 Meta is unlikely to ever develop the product and organizational muscle to serve customers
They treat creators and advertisers pretty poorly and yet the wildly successful business works because they own 3B users
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@adam__xyz Most IPOs end up trading below their offer price for an extended period of time - it’s really not that uncommon - it’ll take some time for institutions to do their due diligence and build conviction
In the meantime, the role of design tools is under attack from LLMs and code gen
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figma trading at 1/4 of its IPO price, feel liks a mandatory buy, can someone explain what happened here
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Woman gets upset after asking her husband for a divorce and he just said “Okay, let’s do it”
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Vintage Trump material 👌🏻
Love him or hate him, his delivery and style are something special
Clash Report@clashreport
Trump: It should be called football. This is football, there is no question about it. We have to come up with another name for the NFL stuff.
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@LukeGromen @greg_ip would CNY appreciation immediately catapult China into #1 slot in global gdp?
it seems like they’re being cautious about taking any such spotlight
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Implications of this chart = Goldman Sachs thinks...
a) China is going to win v. the US and much of the west for the next 3 years
b) CNY needs to rise meaningfully v. USD and other western currencies.
Chart via @greg_ip
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keeping a close eye on this one
x.com/Cashflow_Cowbo…
Extend & Pretend Cowboy@Cashflow_Cowboy
Harvey just raised $150M after raising $300M four months ago after raising $300M four months prior to that. Company raised over $700M this year. Company was at $75M revenue run rate in April. Even at $150M run rate, that's 53.3x sales for a company eating cash in software. Harvey is also looking to expand into tax accounting, which I view as a curious choice if the legal product is going that well and the TAM is supposedly that large. Doesn't strike me that the core competencies would have that much overlap and now the business is competing with more focused rivals on multiple fronts. I could be eating crow when it's all said and done, but I'm holding to my view this business will be more of a cautionary tale than banner success, especially for later investors.
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@credistick My preference in such an early round would be to give myself the most room to build momentum *and* give myself some type of acquihire floor in case of early exit
But I’d steer clear of rounds setting the bar too high unless market derisked. I find 40pre -> 80pre big jump pre pmf
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@HardcoreCap You might think taking $4M instead of $2M makes the next bar easier to clear, but you’ve just raised that bar from ~$40M to ~$80M, too.
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Most VCs do not understand concepts like valuation or risk-adjusted return.
Instead, they infinite-bid their way to “winning” deals, as the existence of competing bids justifies any price.
It’s insane behaviour, and yet these morons fumble the market and endanger startups every cycle.
If you manage money on behalf of institutions, you should have SOME level of professionalism.
Jenny Fielding@jefielding
Met a founder on Monday, round price was $10m post. By Wednesday it was $20m. How is this sustainable for investors or founders? Healthcare AI deal, not like infra.
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@MatthewBerman very normal stuff in SF to live with people who end up doing crazy shit, similar in NY too
Dwarkesh also said that very recently, before the pod took off he was just a kid in a small bedroom with no money
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“Dwarkesh, Dylan, and Sholto are all roommates” 🤯
I have so many questions:
* did they know each other before becoming roommates?
* if so, how?
* if not, they just happened to live together by pure chance??
* presumably they can all afford to live solo, so they choose to continue to be roommates for the insane intellectual density?
* who does which chore?
Hot Aisle@HotAisle
Dwarkesh, Dylan and Sholto are all roommates. Even if nothing improper is happening, this can: * shape public opinion * move market sentiment * affect vendor reputations * drive investor behavior * influence purchasing decisions In a trillion dollar economy funding arguably the largest advance in human history, market shaping analysts are supposed to question each other, not live together.
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Greg is smart, so even he knows this is an oversimplification.
But for anybody reading, I want to say this out loud.
There’s nothing simple about acquiring a business and just adding technology.
There’s nothing easy about starting, acquiring, or running a small business.
Please don’t fall into the trap of underestimating the difficulty of the task.
This “just add technology” take has been so bad for so long it’s almost patronizing to the people who actually run small businesses, and embarrassing for the folks who say it out loud.
All we’re doing is updating the meme from Replacing the Fax Machine to Implementing AI, but the result and the facts will remain the same.
Cheryl in accounting doesn’t care about your AI implementation.
The sales guys you need to retain post-closing don’t care about your AI implementation.
Angie, the 87-year-old who needs her hot water heater replaced, doesn’t care about your AI implementation.
And all of those people are absolutely essential for keeping your business afloat.
If you buy a business underestimating the knife fight that is a small business, your business will be dead long before your AI implementation has a positive effect on your bottom line.
That said, I appreciate where Greg is coming from.
I do think technology is going to add a ton of value to acquisition entrepreneurship.
Let’s just be careful with how we characterize it.
GREG ISENBERG@gregisenberg
There’s a whole new generation of founders who are going to buy businesses and turn them into holding companies with software and AI: how they’ll do it: step 1: acquire niche business at an attractive price step 2: create internet distribution to scale customer base step 3: build AI-assisted software to increase margins/make product more attractive step 4: recycle cash-flow to buy more businesses
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That’s nothing? Like 2 MegaWatts of data center? We need to circulate this revenue some more to make a dent
The Kobeissi Letter@KobeissiLetter
BREAKING: American shoppers spent a RECORD $11.8 billion online on Black Friday, up +9.1% from last year. Adobe Analytics, which tracks over 1 trillion US retail site visits, expects shoppers to spend $5.5 billion on Saturday and $5.9 billion on Sunday, up 3.8% and 5.4%.
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