Bill Gurley

I might be interested in that as well.

I even think some of the names I've already mentioned that are considered to be these late stage investors are thinking this way.

They're thinking, what if I can find a traditional company that may not understand that AI would enhance it, but where we can go do that ourselves?

And maybe that is a disruptive way of looking at things.

That non-consensus accurate quadrant, the first time I read it was Howard Marks, who I read everything I can that Howard writes.

There is, I think, an incongruence between that point of view and these platform shifts, because these platform shifts have now become consensus.

You'd have to not invest in AI, which sounds outlandish.

So I don't know that you can apply those two things simultaneously.

One thing that's super interesting about AI, to your point, and maybe is the big companies seem to have moved very quickly.

I mean, if you go on ServiceNow's website, it just drips of AI.

Microsoft earnings transcript had 67 occurrences of AI.

And Satya just talked for two hours about AI.

It's a weird thing.

I think a lot of what we read in Crossing the Chasm or The Innovator's Dilemma, the big companies are supposed to be slow to mobile, slow to the internet.

That's an opportunity for the startups.

This is an interesting one where I think a lot of the big companies have paid attention early.

I think there are data points on both sides.

I think that's an interesting argument.

Apple is an interesting argument.

Microsoft, having missed one and survived, puts them in a better position to be alert about the next one.