20VC: Bret Taylor: The AI Bubble and What Happens Now | How the Cost of Chips and Models Will Change in AI | Will Companies Build Their Own Software | Why Pre-Training is for Morons | Leaderships Lessons from Mark Zuckerberg
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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
1h 10m
2 speakers
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I think we are in a bubble. I am inherently skeptical of companies doing pre-training. Unless you are an AGI research lab, doing pre-training on a model, I believe, is just burning capital. Software is like a lawn. It needs to be tended to. It's not like you write software once and it just works forever. I think almost every company that has chosen to build their own in an area of their business where there is a software as a solution service available has regretted it.
This is 20VC with me, Harry Stebbings, and I'm so excited to welcome one of the true OGs of Silicon Valley to the show today. This is the most impressive CV in Silicon Valley. He co-created Google Maps. He was the CTO of Facebook. He founded Quip. and sold it to Salesforce for $800 million, where he was then co-CEO with Marc Benioff of Salesforce. And now he's the CEO and co-founder of Sierra, a conversational AI platform for businesses backed by Peter Fenton at Benchmark. Enough said, the man is a hero. The best CV in Silicon Valley history right there. But before we dive in, I'd like to introduce you to one of my favorite brands, Atteo. Atteo is the next generation of CRM. Setting up Atteo takes less than a minute, and in seconds of syncing your email and calendar, you'll see all your relationships in one place, all enriched with valuable data. Atio also lets you build Zapier-style automations, gives you powerful reports, and works perfectly for any go-to-market motion from PLG to sales-led.
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And talking about incredible companies, I want to talk to you about a new venture fund making waves by taking a very different approach. It's a public venture fund anyone can invest in. not just institutions and accredited investors. The Fundrise Innovation Fund is democratizing venture capital, which could have big consequences for the industry. The fund is already off to a good start with $100 million into some of the largest, most in-demand AI and data infrastructure companies. Companies like OpenAI, Anthropic, and Databricks. Check out the Innovation Fund's impressive list of investments for yourself by visiting fundrise.com slash 20VC. Carefully consider the investment material before investing, including objectives, risks, charges and expenses. This and other information can be found in the Innovation Fund's prospectus at fundrise.com slash innovation. This is a paid sponsorship. And finally, let me tell you about UiPath. What do Henry Ford and AI have in common? Neither could change the world without automation.
In the future, there will be two types of businesses, those that have automated and those that wish they had. UiPath's new AI agents don't just follow rules. They think, make decisions. and work alongside the world's most powerful software robots, already trusted by over 10,000 businesses, if agentic automation sounds new, just think of UiPaths as your more growth, not more overhead platform, or your happier customers, happier employees platform. Whatever you want AI to do for your business, agentic automation with UiPath will make it happen. Try UiPath's new AI agents for free at UiPath.com. The future of automation is both agentic and robotic. Don't get left behind. You have now arrived at your... Brett, I am so excited for this, my friend. I've been a fan from afar for a long time. You've had such an incredible career. So thank you so much for joining me.
Thanks for having me.
I know this one's a little bit off back because it's not even on the schedule. So you're like you're breaking the rules from round one. But when I go through the different achievements you have, it really is incredible. When you were young, did you know that you were going to be successful? Did you have that innate feeling?
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