Hot in Enterprise IT/VC - What’s 🔥 in Enterprise IT/VC #408
What’s 🔥 in Enterprise IT/VC #408Magic Quadrant for AI Code Assistants - one of fastest times for new category to Gartner MQ - By 2028, 90% of enterprise software engineers will use AI code assistants up from < 14% in 2024I just love ❤️ seeing markets come out of nowhere, and you know a market’s for real in the enterprise when Gartner has a Magic Quadrant for it. If there was a metric for “New Category to Gartner MQ” this has to be one of the fastest as Github only announced “GitHub Copilot: your AI pair programmer” 2 1/2 years ago 🤯. We all know the astounding numbers. To no one’s surprise, the MQ is dominated by large vendors from Microsoft’s Github to Google to AWS. But it’s ROI like this that shows we are still just in the early innings for AI code assistants, especially when the AI is helping developers do the boring stuff and kill technical debt! This data is so 🤯, let me say it again - Amazon Q took the average time to upgrade an app from 50 days to just a few hours, saving 4,500 developer years of work; in less than 6 months Amazon Q provided an estimated $260 MILLION in annualized efficiency gains! Make no mistake - if you are building anything in the developer workflow and don’t have an AI story, then you will be dead in the next 24 months. Here’s Gartner’s predictions for the next 3-4 years:
Given these forecasts, the 💰 has been and continues to flow into AI-powered coding to the tune of almost $1B since the start of 2023, that’s in 20 months! Here’s a headliner from the FT from this past week. And while there is a Gartner MQ and over $1b deployed into AI Code Assistants, I still believe we are just scratching the surface. There is so much more we can do and improve - case in point - read Stammy’s comments below: Stammy nails it - either too micro or macro when it comes to value creation for devs. Charity Majors from Honeycomb dives deeper this week with a great take LLMs and coding 🧵: And I’m a huge believe in Number 1 which IMO leads to more abstraction from just the raw code. That’s why I’m also a big believer in what Guy Podjarny (prev. founded Snyk) and now Tessl (full disclosure, boldstart co-led the Inception round) is advocating, “AI Native Software Development.”
Guy dives deeper into what’s next with Jason Warner, founder of Poolside and previous CTO of Github in this clip here: These thoughts also align to a number of my previous What’s 🔥 posts on thinking about the Second Order Effects from AI Native Code Assistants - what happens when this becomes a default in the industry - more code written by AI, more code to understand and to review, more code to secure, etc…. The future is certainly bright, and I strongly believe that there is a ton of opportunity for founders to think beyond this Gartner MQ - just don’t deploy another $1B into existing workflows and let’s look beyond that! As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups#as your startup scales, how do you continue to innovate? Steve Jobs on happy accidents (Farnam Street - Shane Parrish)
#super fun and 🎙️ listen in - so enjoyed this wide-ranging conversation with friend Steve Brotman tracing back to early days in NYC Enterprise tech ecosystem in mid-90s 👴🏼 to why we started boldstart ventures, the evolution of what a first check means from seed to pre-seed to Inception Investing and what we look for in founders... Video here: #leadership vs. management (full post her from Eric Partaker) #not a hard and fast rule but directionally correct across the board #💯 solid advice for those repeat founders #some context on venture returns, correlations with DPI (early exits) vs. LT performance - early exits may mean your big winners are sold much too early but one does generate DPI or dollars back to investors #on Jumbo Inception rounds - this is not going away folks Enterprise Tech#this got a lot of folks chiming in - is the AI security market real? At $200M from Palo Alto this includes AI-powered along with net new Securing AI - read the comments, they are enlightening #Frances Odum, cybersecurity research, just released his comprehensive report on the AI Security market which is Securing AI - cool to see Protect AI (full disclosure: boldstart co-led the inception round) in a few places on the map #😲 Grafana, infrastructure monitoring software co, raises $270M at $6B valuation, double from last round 3 years ago - crossed the $250M ARR mark with over 5,000 customers (Silicon Angle)
#who’s generating revenue from AI? #the problem with LLMs and copilots for enterprises - still needs to be solved! #💪🏼 You know you are making it as a startup when job recs list your new product as a must-have! Cool metric to track: Time from Product Launch to Global 2000 job requirement 🔥 This is the dream👇🏼 for any enterprise founder creating a new category or launching a new product. LFG - agents are the future (full disclosure: boldstart led the inception round) #And when it works over a few years, this is what happens 👇🏼 #those Megatron Jumbo Inception rounds can also be quite risky - 3 of 5 cofounders are now gone from a $220M Inception round for AI agentic workflow startup H out of France
#everyone doesn’t love GenAI - this video post on X from Procreate, art SaaS app, got over 8M views - blog post here
#GenAI ROI #founders of startups trying to make some noise, please don’t do this 👇🏼 - seems like Action1 is trying to take a page from the Wiz playbook except the Wiz Google convos were so real… Here’s Crowdstrike’s response 🤦🏼♂️ #open source license change from Cockroach Labs - most models are based on open source and then money made from hosted/cloud versions with dashboards, management console, team based collaboration etc but Cockroach with different approach - revenue thresholds (TechCrunch)
Markets#$8-10M a year of expenses to be a public company #20 years ago this past week 🤯 #legend What's Hot 🔥 in Enterprise IT/VC is free today. But if you enjoyed this post, you can tell What's Hot 🔥 in Enterprise IT/VC that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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What’s 🔥 in Enterprise IT/VC #407
Tuesday, August 20, 2024
Reflections on venture - what founders should look for in Inception investors, the importance of speed for founders as well as investors in winning the best opportunities + other reflections... ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #406
Saturday, August 10, 2024
The race to be the last mile AI platform for enterprises - lessons from Palantir's Bootcamp model (BLG is the new PLG), Glean, and others... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #405
Saturday, August 3, 2024
$2.9 Trillion wiped out in stocks, $1 Trillion in CapX spend for AI - stay the course, just a mini-bubble in a long 10+ year game - time to keep building 🏗️ but choose wisely as always! ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #404
Saturday, July 27, 2024
GenAI skepticism builds but 🙏🏼 ServiceNow for delivering AI monetization 💰 powered by "domain specific LLMs" ($1B revenue opportunity in just the next year) ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What’s 🔥 in Enterprise IT/VC #403
Saturday, July 20, 2024
Cybersecurity wakeup call - 62% of the global external attack surface is concentrated in the products and services of just 15 companies 🤯 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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