Thomas Laffont
speaker
504 appearances
2 recordings
2 series
first heard Jun 2026
last heard 4 Jun
Thomas Laffont’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
And ultimately we believe that a wide variety of companies and governments and militaries will want to own their own constellations so they can control their own destiny.
So now you move into being a scale business, which ultimately becomes a platform.
And we know how valuable these platforms are in this technology age.
And platform means not only do you have many more customers in your core business, but you also have new businesses.
It could be space data centers.
It could be the optionality of the moon and Mars and other space applications.
Now we know one defining feature of this era has been how quickly these companies are scaling and if we just look at whether it's the PC or the internet or the mobile, Anthropic in particular is scaling like no other company that we've ever seen.
Now this was kind of an interesting analysis and this is what I'm curious to kind of discuss with the besties, but we looked at essentially three buckets of companies.
And we said, okay, within each bucket, what is the likelihood that you will have a 10x?
Which I would view as an investor, maybe not a seed investor like J-Cal, but for us as growth investors, wow, a 10x is pretty good.
They're hard to find.
So the data showed us that if you're a unicorn, the odds of you one day becoming a decacorn are about 8%.
If you're a decacorn, so that means you're over 10 billion, the odds of you becoming a hundred billion dollar company, not much better, 8% to 13%.
But how interesting that if you're a centacorn, a hundred billion or more, the odds, and by the way, we're putting in public and private companies, you now have a 31% chance of having had a 10X.
This kind of flies, in my opinion, in different than maybe we would have expected.
And if we look at how quickly these companies are creating value, this is a chart that I kind of added at the last minute because the data is so fresh, but you can see it typically takes multiple years to go from 500 billion to a trillion in market cap.
Well, something happened very recently in the public market, which is that not only did we have three companies do it in the same year, but we had two companies do it in a matter of weeks.
So we can talk about what conclusions to take from that.
Now, even as these companies were scaling incredibly quickly from 500 billion to a trillion, we had other companies take a long time to succeed.
And this is a company called Cerebras that just won IPO, so I thought it'd be a good candidate.
Showing 341–360 of 504 · page 18 of 26
← Previous
Next →