Michael Gilroy
speaker
885 appearances
1 recordings
1 series
first heard Jul 2026
last heard 20 Jul
Michael Gilroy’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So what does it cost to run GNA?
What does it cost to sell this product?
And then at scale, when this thing is compounding, what do I feel like steady state and maturity earnings potential is for this company?
If they go public, at some point in time, they will trade on earnings and obviously market dependent.
That is the fundamental issue or mistake I think many people are making across the industry today.
And again, I've been very blessed to have a range of experiences from Canaan, which is a traditional early stage firm, and then KOTU, which is a multi-product, large platform, but started as a hedge fund.
We segment the world today in our letters to LPs as AI capital incinerators and AI capital savers.
There's two crops of companies and...
Some of it is founder driven and some of it is business model or end market driven.
And one of our companies in the portfolio, they spent two years using all of the latest AI tools to build a product suite that they felt like they can go out and sell against the incumbents with.
They needed to get to feature parity, but they just put their head down for two years and built.
And so when we first got the model, I'll never forget this model review.
It was a series A model and there were five different contributors to revenue.
And they were actually running truly at almost 80% gross profit.
So one of my best friends and partners, Chase Packard, he was running the model review and the investment in the company.
And I just said, Chase, like, what are we doing here?
There's zero chance this is an 80% gross profit business.
Something is hidden.
It's our job.
The number of P&Ls that I get that say 80%, they're really 30 or 40 thousands of companies.
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