Sarah Tavel: Will Foundation Models Be Commoditised? | E1149
HTML-код
- Опубликовано: 8 июн 2024
- Sarah Tavel is a General Partner @ Benchmark, one of the most successful and renowned venture firms in the world. At Benchmark, Sarah has led rounds in Chainalysis, Hipcamp, Medely, Rekki, Glide, Cambly and more. Prior to Benchmark, Sarah was a Partner at Greylock Partners. Before Greylock, Sarah was the first 30 employees at Pinterest. Sarah joined Pinterest in 2012 after co-leading the Series A investment while at Bessemer Venture Partners.
-----------------------------------------------
Timestamps:
(00:00) Intro
(00:51) Background
(09:11) Value of Selling the Work in the Application Layer
(23:37) The End State of the Model Landscape
(36:06) The Challenges & Future of AI Models
(39:15) The Role of Competition in the AI Industry
(46:02) Reflecting on Missed Investment Opportunities
(58:03) Quick-Fire Round
-----------------------------------------------
In Today’s Episode with Sarah Tavel We Discuss:
1. Becoming a GP at The Most Renowned Firm in Venture:
How did the process of Sarah joining Benchmark start? How did it progress? What was it that convinced her to leave Greylock and join Benchmark?
What does Sarah believe makes Peter Fenton the world-class investor that he is?
What does Sarah know now that she wishes she had known when she started in venture?
2. Foundation Models: Is it All Going to Zero:
Will foundation models be commoditised?
Will 99% of the funding going to foundation models go to 0?
How does Sarah view the future of open vs closed source?
Why does Sarah believe that all frontier models of the future will be closed-source?
Why does the business model of foundation models remind Sarah of the food delivery business?
3. Application Layer: Where $BN Companies Will Be Built:
Why does Sarah believe that sustainable value-creating companies will be in the application layer?
How does Sarah determine between a wrapper on top of ChatGPT and true product value?
Are enterprises opening real budgets for AI today or are we still in experimental budgets?
How does Sarah think about how AI companies differentiate when there are so many in the same space of customer service, sales team support etc etc?
Why does Sarah believe that it is rational to pay more for these companies when investing in them?
What does Sarah mean when she says the future is “selling the work and not the tools”?
4. Inside Benchmark: How the Best Do Venture:
What is the one rule that Benchmark is willing to break when doing a deal?
Why do Benchmark aim to be the best recruitment firm in the world?
Why do Benchmark not agree with the concept of reserves?
In a case where Benchmark have lost, why did they lose? How did they change their approach?
-----------------------------------------------
Subscribe on Spotify:
open.spotify.com/show/3j2KMcZ...
Subscribe on Apple Podcasts:
podcasts.apple.com/us/podcast...
Follow Harry Stebbings on Twitter:
/ harrystebbings
Follow Sarah Tavel on Twitter:
/ sarahtavel
Follow 20VC on Instagram:
/ 20vchq
Follow 20VC on TikTok:
/ 20vc_tok
Visit our Website:
www.20vc.com
Subscribe to our Newsletter:
www.thetwentyminutevc.com/con...
-----------------------------------------------
#20vc #harrystebbings #sarahtavel #benchmark #ceo #founder #venturecapital #startup #partnership #hiring #aifuture 
Наука
Subscribe to the 20VC RUclips channel for more great interviews: www.youtube.com/@20VC?sub_confirmation=1
Love that we here arguing about the size of checks not being grateful that we are 1 of the few thousands getting and hour free with a proven workhorse and the best salesman I have ever had the pleasure of working with. Blessed y’all!
I find the lack of modern comprehension of the contextual factors driving the differences in development of the application layer in the context of building competetive moats for any solution to be quite disturbing.
When exactly does the application layer turn into the integration layer?
How the innovation in the underlying interface, technology & economical principles catalyzes the proliferation of external application layers?
Can the economical potential of an ecosystem, be defined just as the sum of all the possible reductions in time and energy structurized into cohesive process depletion thesis, with the following comprehensive understanding of the economical incentives for each actor?
How to approach the centralized IDEs with homogeneous interface protocol aggregation, depleting the new incumbents from the control over the newly constructed abstraction layers, with subsequent technology-side globalization?
You must be the life of the party at meetings!
@@justtestingonce IDE part is the most disrupting from the network-fueled incentive structurization perspective.
It's not readily apparent what constitutes the underlying variables and subsequent phenomena that dictates the market power of an operating/routing systems, presumably cornering the application layer through the sets of differentiated, innovative protocol aggregation, while put in competition with centralized IDEs with already devoted sets of users, expertise and integrations, and position to mimic the underlying mechanics to allow the discharged applications be published across many substructures, thereby alienating diverse homogeneous protocols usage.
@@justtestingonce Any thoughts on the subject?
The why now curve ball she threw into the answer was too crafted for a sound bite. My product is the Why not yesteryear? The answer is exactly why no else is doing what I'm doing well: why is Haines ketchup better on fries 🍟? They do a common thing uncommonly well.
Heinz* was to solve lack of refrigeration and a solution the taste of eating rotting meat.
You are not writing 5 or 10 million dollar checks...
I partially take this back since 20VC raised 140 million but of his personal money he is certainly not. Maybe he is 1 to 5 percent of that fund.