Hot in Enterprise IT/VC - What’s 🔥 in Enterprise IT/VC #388
What’s 🔥 in Enterprise IT/VC #388Where we are in the funding cycle post Q1 - YoY 💰 deployed 📉 29% while Inception rounds (whatever you call it - seed...) pricing continue to be 🔥 📈Where we are in the cycle now… While overall 💰 deployed is 📉 29% YoY, funding at Inception (whatever you call it - firstcheck, pre-seed, seed) is still 🔥, esp. for AI-related cos.
This is now reflected in the Inception round numbers as pricing 📈. For those companies whose product and team and just wow, multiples are still off the charts despite limited revenue for Series B and later. FOMO is in full effect. Cognition Labs is apparently seeking a $2B valuation up 6X+ from just months ago (WSJ).
The multiples, while aggressive, seem to be coming down for some as they mature and grow into those valuations. Once upon a time OpenAI multiples were off the charts but the company has grown into its pricing, somewhat, especially relative to Cohere and others. Even Elon Musk’s xAI is apparently now seeking $3B at an $18B valuation (WSJ).
As you can imagine, at YC Demo Day, everything was AI - YC Winter 2024 Batch with 65% B2B SaaS/Enterprise:
And I couldn’t help but think, wow, it’s really happening. If you read What’s 🔥 #358, I joked how every VC was looking for the next big data moat and vertical SaaS was hot. Here’s an excerpt:
Well, this is no joke - it’s here now…and it’s one of TechCrunch’s favorite new YC startups. Yeah, I get it, big market, untapped potential, and insurance angle is interesting, but you get my point - where anything can be AI-enabled, it will be AI-enabled.
👇🏼 Finally, this is not an April' Fool’s joke. So remember, buyer beware (FT).
As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups#Wise advice from Shahed Khan, co-founder of Loom, sold to Atlassian for $950M - one lesson, just get started, the other focus - watch out for shiny distractions…
#Lenny Ratchitsky released his interview with Dharmesh Shah, co-founder and CTO of Hubspot - super interesting for founders + also quite timely as rumors that Alphabet is thinking about buying Hubspot for $32 Billion
More barbelling of venture, either raise as little as possible or as big as possible at Inception - here’s the $750k Speedrun Program from a16z - real question is how many of these cos make it to the next round
Enterprise Tech# To my earlier point on Inception funding - here’s the Hyperstition deck which it used to raise a $25M Inception round to create the future of Material Science 🧵 #CB Insights AI 100: The most promising artificial intelligence startups of 2024 - congrats Protect AI (a portfolio co) in ML Security market (Bottom right) #Calling all developers (Kelsey Hightower) - thoughts? Comments are great…
#AI war for talent - just so you know and also why some of these AI Inception rounds so large - talent + cost of training (The Information)
#Even Elon Musk says it’s the craziest he has ever seen.
#How does someone with $1,000,000,000 of annual tech budget use AI? Interview with ServiceNow COO and Konstantin Buhler at Sequoia on AI Ascent Day
#Eating your own dogfood - João from CrewAI always pushing the boundaries of AI with his product - what developer loves writing docs? #The 3 Laws of Robotics from Mr. Robotics, Rodney Brooks
#Breaking down the epic MGM hack - reminder, people are the weakest link (WSJ)
Markets#Matt Levine from Bloomberg writes some of the best commentary on the market, here is BuccoCapital quoting from this week’s newsletter which you can find here #Rubrik files for IPO!!! From CNBC:
And Tomasz Tunguz has an interesting take on Rubrik here:
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Older messages
What’s 🔥 in Enterprise IT/VC #387
Saturday, March 30, 2024
Top 10 Takeaways from Enterprise Founder's Day - the AI sales wedge is now table stakes... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #386
Saturday, March 23, 2024
The barbelling of Inception rounds (pre-seed/seed) + the impact of AI on $$$ needed and fund sizing ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #385
Saturday, March 16, 2024
Jensen speech on pain + suffering is just what we needed - why we are all destined for greatness, inspiration from Superhuman + Snyk ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #384
Saturday, March 9, 2024
Where does value accrue in the AI stack? We're all still learning! ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #383
Saturday, March 2, 2024
The short version of what LPs and VCs are thinking - notes from an AGM... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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