Ep10. Pre-IPO Market, AI Hype Cycle, Is Software Dead? | BG2 with Bill Gurley & Brad Gerstner
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- Опубліковано 5 лип 2024
- Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they discuss Pre-IPO market Changes, the reality versus perception of AI's future potential, the state of software, the impact of excess capital in the late-stage market, the importance of capitalism and immigration for the future of the United States, and more. Enjoy another episode of Bg2.
Timestamps:
(00:00) Intro
(02:16) Letter from Brad’s Mom
(07:28) The Changing Landscape of the Pre-IPO Market
(24:50) AI Hype Cycle
(33:19) Is Software Dead?
(37:03) The Impact of Excess Capital in the Late-Stage Market
(42:18) How AI Spending Affects Investments
(54:52) Opportunities for Investments in the Public Markets
Available on Apple, Spotify, www.bg2pod.com
Follow:
Brad Gerstner @altcap x.com/altcap
Bill Gurley @bgurley x.com/bgurley
BG2 Pod @bg2pod x.com/BG2Pod - Наука та технологія
A tech podcast that actually talks about tech and business? Sign me up.
Sorry but Brad hogs it in terms of subject he wants to talk at the beginning. I enjoy Bill’s insights a lot more.
LOL @ the shot at one of the best podcasts in the game, All In. Cry more. BG2 will never touch their dominance. These guys can’t even put out an episode once a week.
I feel so lucky to be able to listen to these two have a conversation every so often. Thanks guys!
I teach AI for a living, it’s amazing how quickly this show became a MUST in my UA-cam / podcast rotation.
What’s there to teach
Shout out to your Mom, Brad. Love that message. Thanks for sharing it.
I was starting to wonder. Better late than ever. So happy to see you guys are still at it.
The fact this pod doesn’t do weekly episodes is part of what makes it great
LOVE THIS POD! GREAT TO SEE ANOTHER EDITION. AMAZING INSIGHTS, THANKS FOR DOING THIS GUYS! 🙌
Why are you yelling?
Bill always keeps a perspective alternative to the up and to the right all-the-time folks in the valley always respect his opinion.
I appreciate the balance in the discussion in this Pod. The optimism in Brad’s point of view in contrast with the realistic perspective from Bill. Great contrasting discussion without derailing everything with political topics.
Did Brad’s mom get ChatGPT to write her letter for her 😅🤣?
Some of our wise elders understand the blessing of the times we are living in. Thanks for sharing Brad.
That was a wonderful note Brad.
Thanks for sharing. 🙏
Best podcast out there. Incredible there are only 30k subs for this channel compared to millions for "Costco Hauls" and other garbage.
Top 3 podcast for me. Hands down! Great job B&B, as always! Congrats on double digit podcasting...
Lets go! I need these two on a 24/7 radio. So much value and clarity of thought.
What a wonderful letter from your amazing mother.
Great Pod as always, gentlemen. I love the way BGurley grounds the issues in reality. Wisdom
Loved your moms note, especially since mine was also born in 1936
Best business pod out. Thanks guys!!
Oh damn you just made my Monday less of Monday.. Thanks 😊
Love your conversations topics and perspectives! Love that you’re publishing here! This is appreciated. Thanks!
Thank you for doing these very informative podcasts. Us small retail investors greatly benefit from your professional views. Thank you
Elite pod - insights are on another level. Never stop Bill and Brad! Big love from Bali! 💪🏻
Looked forward to the latest episode! Let’s go!
Great tech discussion / thoughts thanks gentleman looking forward to your next discussion already in this ever changing world
Thank you both for sharing your thoughts. The future remains unknowable but it will certainly be interesting.
PLTR seems to fit into the discussion at 52:35 etc
Another great episode, thanks BG2!
I love that the art on Bill’s wall depicts SRV with the left hand thumb wrapped over the neck…way to go! If you play, you know what I mean ;).
Another super interesting episode. Thanks BG crew!
New bg2 🤩 Let's goooooo!!
thanks for not talking politics!
Thanks guys!
Best tech pod right now
Really a fantastic podcast.
Best business podcast out there.
thank you, great stuff!
the note from your mom = great perspective
Great video!
Thanks for giving importance to Capitalism as the system that is driving so much innovation and we are indeed in the luckiest moment ever in history on every level. Society has never been this advanced and we should be proud of it instead of thinking everything negative. But most important, worldwide we should remember that the price of freedom is eternal vigilance.
Intersting that Brad describes exactly what Palantir is and does with Foundry/AIP and yet he hopes Snowflake can pivot to that. Being he's friend with some of the founders curious as to why he doesnt put some Altimeter money in that direction.
Great episode… next please.
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Linda Wilburn program is widely available online.
Trading with an expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.
Your Mom sounds like an amazing person
love that you analyze companies, you should do more of that, maybe some small caps like $TOST or $APLD
Wow, so Spot on about Apple Intelligence at 34:35 .
Is there any courses or websites that can teach me about LLMs? I do want to start testing on AI do, specifically finance.
We will b meeting soon my dawgs
Wow, great episode again, thanks for doing this.
You mentioned a few reports and that you would link to them, where can I find those, the description doesn't seem to have it
2 Goats
Potentially 17:15 one of the biggest negatives (to the founders) of this concentration of capital is that larger funds are increasingly stretched on a ratio of principal to invested dollar - which means less support to the early stage startups when they need it (to Brads point re early support).
The problem is too much money chasing too few opportunities, or rather opportunities that don't require the extreme levels of capital available.
In 2024 most large businesses just don't need the level of capital that is seeking returns, it's obvious even as someone outside the industry.
The All-In Podcast is the tech bros' equivalent of "The View."
Let bill talk
Anyone seen show notes for the podcast? I think there would be real value to adding them given some of the interesting insights they make and topics they cover
Tnx
A fully autonomous and self-deploying topiary drone trained to maintain the shape of all the bushes, trees, and shrubs around my house - forever. This is the kind to disruptive AI technology that the market (and I) will want to see soon. Just a better chatbot is not going to cut it.
i think whats going for this pod , already , is the lack of a clown moderator who picks up flog-me-i-am-a-dead-horse "dockets" and just sticking to what these gentlemen have made billions on .. always spot on .. huge thanks to these 2 awesome dudes
Bill: 35:14 "They would never not mention AI"
Apple: Apple Intelligence. :)
"Let me take the other side"
"I'm sure you would!"
😂😂
There is excess capital and high interest rates, which keeps the money from moving. What does that mean? How does this economic landscape evolve?
Ideal team to dominate the AI revolution
Lets go AI!
Guys
What would liquidity for VC’s / investing be like in a bitcoin (supremely hard money) world??
Thank god you'll be setting CNBC straight tomorrow. They have always been so awful! I love the CNBS thing.
Does scarcity breed innovation? It seems to me like the places with the most abundance at a point in time happen to also have the most innovation for its period
Would love to know the artist that did the guitar painting in Bills office
Walmart
46:50 Chamath’s 8090 isn’t “90% of the benefits for 80% of the costs”, it’s “80% of the benefit for a 90% discount” (10% of the cost). The fund name must not be very good if it confuses people like this.
⭐️⭐️⭐️⭐️⭐️
Lol Brad’s mom’s letter sounded like it was written by ChatGPT
I find it odd that you guys mention Drukenmiller and talk about AI but never mention Palantir? Is this company not on your radar or is there some other reason it’s not in your AI conversation?
Please buy Bill a mic 🙏🙏🙏
Can someone get Gurley airpods?
Tesla in hyper growth mode and they are laying off. It's called reducing costs!
your mom must've used chatgpt to write that note
💯❤excessive capital is breeding ground for wastage and inefficiency.
If Databricks were to go public tomorrow, its market capitalization would likely be twice that of Snowflake's.
AI is just another utility like electricity… it is not a finished product… it will be incorporated into any devices… it will enable software to do specific solutions… it is early stage.
how can people so rich, not even hire a sound guy to get the sound right?
Sam Altman is NOT an engineer or a leader like Steve Jobs. Not a buyer of his prognostications
Brad seems bullish on everything while Bill’s like slow down there bud 😂
Software is not dead, it simply represents the ugly reality of the US economy that is today sans-“AI”. Tourists, generalists and (perhaps) specialists alike are masturbating themselves into the pathetic convolution of this AI hype cycle that is largely driven by the infrastructure build out and the supply chain involved while blood is on the street everywhere else, and that includes semis that are not exposed to leading edge supply chain or Nvidia. When these “AI” stocks hit peak in estimate revision (2Qs away at the maximum), everyone is going to have that wake-up call and rush to degross. Mark my word and pick your favorite “AI” stock 2Qs from now and see how it does.
Your mom sounds like ChatGPT or maybe she used chatGPT
From 50:00 exactly what Palantir is doing with AIP. How blind are these guys 😂
Bill do you have worms?
background guitars always make me cringe
Why does bg junior always screaming or talking like political rally while making very simple things
Guys please keep this going and stay out of political talk. I stopped watching all in podcast just because of that. I really don’t care about the political leanings of billionaire vc’s.
Roaring Bill's, 2 kitty's sitting around just talking