Bill Gurley

So he thinks they'll have the best models, but that general intelligence, you know, that average level of intelligence is we already see is going to be widely distributed and that the battleground bill is really going to be fought around products and services. And I wouldn't say that they view themselves as an exclusively a consumer company, but

So he thinks they'll have the best models, but that general intelligence, you know, that average level of intelligence is we already see is going to be widely distributed and that the battleground bill is really going to be fought around products and services. And I wouldn't say that they view themselves as an exclusively a consumer company, but

But clearly, ChatGPT is a major thrust, a major focus of the business. It's the market-leading consumer application, probably has 80% to 90% market share. I think network effects are kicking in and other things. But I also think their enterprise business is, if not the biggest, one of the biggest and also growing at the fastest rate. Because remember, the consumerization of the enterprise, right?

But clearly, ChatGPT is a major thrust, a major focus of the business. It's the market-leading consumer application, probably has 80% to 90% market share. I think network effects are kicking in and other things. But I also think their enterprise business is, if not the biggest, one of the biggest and also growing at the fastest rate. Because remember, the consumerization of the enterprise, right?

But clearly, ChatGPT is a major thrust, a major focus of the business. It's the market-leading consumer application, probably has 80% to 90% market share. I think network effects are kicking in and other things. But I also think their enterprise business is, if not the biggest, one of the biggest and also growing at the fastest rate. Because remember, the consumerization of the enterprise, right?

One of the fascinating things that's happening in the enterprise is these are all users of ChatGPT. So when the CEO shows up in the boardroom and somebody says, yeah, we're looking at bringing AI into the company and we're looking at ChatGPT enterprise, it's an easy yes. It reminds me of when every CEO said, hey, get me an iPhone in the enterprise.

One of the fascinating things that's happening in the enterprise is these are all users of ChatGPT. So when the CEO shows up in the boardroom and somebody says, yeah, we're looking at bringing AI into the company and we're looking at ChatGPT enterprise, it's an easy yes. It reminds me of when every CEO said, hey, get me an iPhone in the enterprise.

One of the fascinating things that's happening in the enterprise is these are all users of ChatGPT. So when the CEO shows up in the boardroom and somebody says, yeah, we're looking at bringing AI into the company and we're looking at ChatGPT enterprise, it's an easy yes. It reminds me of when every CEO said, hey, get me an iPhone in the enterprise.

And they were on BlackBerry and they all switched to iPhones because they loved using them at home. I think the natural thing for them to do. So it's not to say... Enterprise is going to be a battle. It's not going to be winner-take-all, but I think these guys do have their eyes squarely set on building a big enterprise business.

And they were on BlackBerry and they all switched to iPhones because they loved using them at home. I think the natural thing for them to do. So it's not to say... Enterprise is going to be a battle. It's not going to be winner-take-all, but I think these guys do have their eyes squarely set on building a big enterprise business.

And they were on BlackBerry and they all switched to iPhones because they loved using them at home. I think the natural thing for them to do. So it's not to say... Enterprise is going to be a battle. It's not going to be winner-take-all, but I think these guys do have their eyes squarely set on building a big enterprise business.

Well, one of the things you pinged me on this week was the investment round around OpenAI. And I'm happy to share what I can share. Tell us what happened.

Well, one of the things you pinged me on this week was the investment round around OpenAI. And I'm happy to share what I can share. Tell us what happened.

Well, one of the things you pinged me on this week was the investment round around OpenAI. And I'm happy to share what I can share. Tell us what happened.

Yeah, well, I mean, they announced the long-rumored investment that was led by SoftBank, which many people described in the headline as a $40 billion investment round. I think if you read the breakdown of it, it comes in a couple tranches, the first tranche being closer to $10 billion, the second tranche being closer to $30 billion. And it's an extraordinary amount of money.

Yeah, well, I mean, they announced the long-rumored investment that was led by SoftBank, which many people described in the headline as a $40 billion investment round. I think if you read the breakdown of it, it comes in a couple tranches, the first tranche being closer to $10 billion, the second tranche being closer to $30 billion. And it's an extraordinary amount of money.

Yeah, well, I mean, they announced the long-rumored investment that was led by SoftBank, which many people described in the headline as a $40 billion investment round. I think if you read the breakdown of it, it comes in a couple tranches, the first tranche being closer to $10 billion, the second tranche being closer to $30 billion. And it's an extraordinary amount of money.

It's bigger than I think the largest IPO sans maybe one or two that has ever been done. I've often described these as private IPOs. Altimeter participated along with several others who were reported. And the valuation was like 260 pre, which would make it, if all the money were to come in, a 300 post valuation. And so it certainly got a lot of attention this week.

It's bigger than I think the largest IPO sans maybe one or two that has ever been done. I've often described these as private IPOs. Altimeter participated along with several others who were reported. And the valuation was like 260 pre, which would make it, if all the money were to come in, a 300 post valuation. And so it certainly got a lot of attention this week.

It's bigger than I think the largest IPO sans maybe one or two that has ever been done. I've often described these as private IPOs. Altimeter participated along with several others who were reported. And the valuation was like 260 pre, which would make it, if all the money were to come in, a 300 post valuation. And so it certainly got a lot of attention this week.