Right to call out - hope Andy Jassy will fight efforts at regulatory capture by Anthropic or others. We need an open & robust model ecosystem - not companies running to Washington for protection. Good news is that Rep. Jay Obernolte leading House Task Force on AI won’t be fooled. 🇺🇸

This is a MUST watch. Gov’t over-reach not only slows innovation but in this case killed American jobs & handed over US consumer data to Chinese competitors. FTC acting “outside the bounds of the law” - and the results are not in our natl interests. iRobot insanity. Andy Jassy

The VC backlog is clearing. IPO pipeline is filling (both upround and downround IPOs) and M&A is on 🔥 - both strategic deals at great valuations and distressed deals where VCs getting 50% to 100% of $$ back. The 2 year lag to the public market correction is here. 🙏🏼👊

Data vs Model gravity. Does this mean OpenAI will have to broaden their distribution?

As discussed on Bg2 Pod - $AAPL playing a diff game. Incredibly powerful results on a small 3 B parameter model that can run on the edge focused on leveraging their unique advantages to understand language, take action & I am guessing build memory. arxiv.org/pdf/2403.20329…

Another CT Scan Testimonial -

“Wanted to thank you very much for how vocal you’ve been about getting a Calcium CT Scan. For context, I am a 38 year old former college athlete that still works out at a high intensity 6/7 times per week, low body fat, doesn’t smoke, eats very…

Is it really annually recurring?! Could be 85x non-recurring ERR. Gravity = highly profitable software companies DURABLY growing 20-30% in the public markets will trade at 25-45x FCF. The closer VC rounds get to the IPO the more this reality will anchor valuation. 👊

To be clear - as a Founder you should maximize ERR - but Founders & Investors should not place monopoly-like confidence early AI revs will recur. That means ERR may deserve 3-5x multiple vs ARR at 10-15x. Lower confidence revs recurring = lower multiple. 👊

🙏🏼👊🇺🇸

Two Warriors Tix - Tonight 7 pm. Working late - building something great? Reply below and will hook you up. 🏀🏀