Mercedes Bent
speaker
417 appearances
1 recordings
1 series
first heard Sep 2025
last heard Sep 2025
Mercedes Bent’s voice in public audio — every appearance, attributed to the second.
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Appearances
One, the speed of adoption is faster.
The market size is just a lot bigger today and the adoption is faster.
ChatGPT went zero to 100 million users in two months.
And two, the margin profile of these companies should be better than the margin profile of others.
over time as compute costs come down.
Right now, we already are seeing in the data that the team sizes, the OpEx side of the equation, is much smaller.
People at the Series A have about 25% less employees than they did in the mobile era or even like five years ago.
And that's because when AI is writing 75% of the code, you don't need as many people on the team.
And so if you're going to have a built-in OpEx layer that's smaller,
And compute cost, if we think they're going to trend down over time, you're going to get much more marginally accretive companies.
So bigger TAM, more marginally accretive companies.
I think this wave is going to deliver $5, $50, $100 trillion companies instead of the past $1 to $4 trillion cap that we hit.
And when I look at that, I say, okay, we're on the precipice of a new consumer wave that conditions that created past consumer wave are appearing.
And we have the possibility for much, much bigger companies than ever existed before.
Those two things mixed with the gap makes me say this, this was kind of the most, I think these moments in time only come a couple of times in your career.
And that's what got me so excited to jump out and start this firm.
Yeah, I think the thing we specialize in is underwriting the leading indicators of product market pull before it's obvious that these are companies that are going to be highly monetizable.
The product market pull initial metrics are things like the average number of sessions per day, the length of this session, what constitutes a session.
I met an AI founder the other day who said, you wouldn't believe I met 100 investors for my Series A and not only one asked me what a session was.
And he was building a consumer video foundation model.
Showing 321–340 of 417 · page 17 of 21
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