Camilo Acosta

It's pretty critical.

And before joining Meta, my company was acquired, so I was a startup founder and CEO.

And both of those experiences are really critical to how I invest today.

Having been a founder, I know how fast one can move and how nimble one can be.

But having also been a big tech operator, I understand which large spaces big tech finds attractive and wants to move into.

And the key here as an investor is making sure that we're not investing in spaces that big tech is going to dominate or be really interested in.

And by the way, when I say big tech, I also mean open AI and anthropic because at this point they have sort of like a neo-incumbent power in AI.

Understanding scale.

I ran a $10 billion product suite at Meta, which sounds large, but in the grand scheme of Meta was actually not that big.

And so there are $10 billion businesses that these large companies don't really have an interest in entering or pursuing because it doesn't really move the needle when you're a multi-trillion dollar company.

That's too small for them.

But a $10 billion startup is a very interesting outcome for a venture investor like myself.

The big problem with incumbents is that they have distribution power.

So no matter how innovative your product may be as a startup and how forward thinking it is or well executed it is, if you don't have the distribution power of these behemoths, it's quite dangerous to compete against them.

A lot of AI outsiders, I think, were convinced that artificial intelligence was about building tools to help knowledge workers.

But the reality is that artificial intelligence is really centrally concerned with replacing human decision-making.

And that has three components at its core, prediction, judgment, and action.

And these three components combined replace human decision making, which is the entire point of AI.

So when you put them all together, it creates a completely agentic system.

And the clearest example of that today for, you know, for layman is Waymo.