Marc Andreessen

There had actually been an investment boom for AI in the 80s and it failed.

There had actually been an investment boom for AI in the 80s and it failed.

And everybody, including all the computer scientists, were like, yeah, this field is dead.

And everybody, including all the computer scientists, were like, yeah, this field is dead.

And that happened like five times over the course of AI over the last 80 years.

And that happened like five times over the course of AI over the last 80 years.

And so, again, another great example.

And so, again, another great example.

So, look, I think a couple of things in terms of how we run our firm or how you run a firm like this.

So, look, I think a couple of things in terms of how we run our firm or how you run a firm like this.

So one is, as you well know, there are two categories of mistakes, right?

So one is, as you well know, there are two categories of mistakes, right?

There's the mistake of commission and there's the mistake of omission.

There's the mistake of commission and there's the mistake of omission.

Or there's a mistake of cost and there's the mistake of opportunity cost.

Or there's a mistake of cost and there's the mistake of opportunity cost.

And so, of course, the mistake of cost is you invest $10 million in a startup, it fails, you lose the money, that's bad.

And so, of course, the mistake of cost is you invest $10 million in a startup, it fails, you lose the money, that's bad.

The mistake of omission is you don't invest in Google and you lose $100 billion of opportunity cost, right?

The mistake of omission is you don't invest in Google and you lose $100 billion of opportunity cost, right?