Harry Stebbings

Is there anything you would have advised them differently, knowing all that you know now?

Is it not impossible not to be hauled up in front of Congress if you reach a certain scale?

Whether you're Google or whether you're Facebook or whether you're anthropic fighting against the Pentagon, you get to a scale where it is impossible not to have that conflict.

I actually had a chat with a mutual friend of ours who asked not to be revealed.

And they said, for fuck's sake, all these PBCs, public benefit corporations, will these startup founders not just fucking win their market first?

What decision can you foresee with AMP that is aligned to your mission, but does not put the profit motive slash incentive first?

Ange, how do you secure the compute supply?

Maybe I should know this, but it's the most starved resource today.

How do you secure a resource that no one else can seemingly secure?

When you think about allocating it, are you not using compute and the cost of compute as a loss leader for your venture fund business, which then comes in and says, okay, you name any of your incredible businesses that you run, whether it's your Anthropics, your Mistrals, your Black Forest Labs, and say, okay, you'll get the compute at cost.

But for that,

We need $300 million invested.

And that's your way of winning.

Are they mutually exclusive?

Can you have a venture ecosystem where you have a bunch of people writing a bunch of checks, as we have done for the last 10 years, and a next generation or, to your point, a back to the future era of venture capital where you co-found the business side by side?

Can they run side by side?

Or are we actually entering an era where we're back to the future era, as you say, where value accrual is in the co-founding and incubation side?

Can I go back to something you said before, which is like, we're at the industrial revolution stage.

And I was like, okay, help me understand that.

If we're at the industrial revolution stage, what does that mean for where we're going and how I should be acting as an investor today?