Nicole Baer

So they, you know, and this is something that investors love.

that they can get scale and efficiency, like margins, you know, like everything can look really good if you're able to hold off on on hiring.

Coming also coming back to the question about, you know, equity, one thing that we are seeing that I think is is interesting

is the valuations that AI companies are commanding, they don't require for founders to give up more ownership to get those valuations.

So they're getting funding without having to give up more of the companies.

Like the amount of dilution has been staying roughly the same, despite the fact that these valuations are so high.

Oh, wow.

So for every new funding round, they're not necessarily giving up more of the company to do that.

How does that work?

Yeah, they're just getting more money.

They don't have to give up as much of the company.

They're just getting more money.

Yeah.

I mean, it just means that they don't have to, you know, companies want to invest and they don't have to give up more in order to get that funding from those big, especially the big mega firms.

Yep.

Yeah, it's fascinating.

I mean, it's amazing to see these valuations go up and the and the, you know, the founders are not giving up more that you're generally just not giving up more of the of the company than they need to.

Yeah.

I mean, I think, you know, if you asked, for example, Peter Walker, who is our head of insights at Carta and talks a lot about this, you know, it looks like we're in an AI bubble.

I think it's about really about we're at a peak and we need to normalize as opposed to a bubble.