01:26:13 · John Coogan, Gavin Baker
[01:26:13] S1: Yep. [01:26:13] S2: And there were these multiple billion dollar plus accounts that were driving it all. That just, it's much more diversified customer base for Anthropic. And then for the AI broadly, I do think that something that has happened since June is you've really seen, you know, first we saw OpenAI really accelerate in the summer and has OpenAI accelerated so did open weight models. And there are so many companies, you know, whether it's Fireworks, whether it's Base ten, whether it's Together, whether it's Modal, whether it's Cognition that are at scale really open weight first and they're all growing faster than either OpenAI or Anthropic. And that was true when OpenAI was really accelerating in the summer. Yeah. And it's still true in October when Anthropic has had clearly a pretty big reacceleration. Like, I just... I'm pretty skeptical that they would have put the, you know, the you know, the blank space for the October ARR in the s one if they didn't know it was gonna be pretty good. Yeah. And I do think it'll be great for the market to get away from these monthly ARR things. [01:27:22] S1: Totally. [01:27:23] S2: But to me...
01:27:23 · Gavin Baker, Jordi Hays, John Coogan
[01:27:23] S2: But to me... [01:27:24] S0: Yeah. It's interesting. Yeah. Like seeing the the the modals, base tens, the fireworks, the together's all out. You can probably... I feel like this is common knowledge. Basically, all... They've all been out in market. And so private markets investors have been getting these sort of updates. And and a lot of these companies have been like starting fundraises, growing dramatically from the period where they got their first term sheet to when they're actually like pulling in capital. And so that that data is like broadly, like I would say the East Coast is just not aware of that at all. Some of them are picking it up but it's not like sort of common knowledge whereas on the West, I would say like over here, people are like, yeah, these companies are... We're already at scale and then they're growing, you know, double digits just during the period of like first term sheet to close or like first close. Well, [01:28:18] S2: my firm, Atreides led the last fireworks round, and it was actually hard to price it because they were growing so fast. Like, [01:28:27] S1: we thought we had a handshake. Yeah. Like, well, we increased revenue. [01:28:31] S0: Yesterday's price is not today's price. [01:28:33] S1: Yeah. You're like, please, like, let's let's just get the deal done. Yeah. Lock it. [01:28:37] S2: I mean, literally, it's like the valuation was going... You know, the multiple was effectively going down, you know, every day. [01:28:43] S1: Every day. Yeah. That's crazy.
01:28:43 · John Coogan, Gavin Baker
[01:28:43] S1: Every day. Yeah. That's crazy. [01:28:44] S2: And if anything, it feels like that ecosystem has accelerated and diversified. Yeah. Because earlier this year, cursor was a real big driver for all those inference clouds. [01:28:55] S1: Yep. [01:28:55] S2: And I mean, the x cursor growth, I think, you know, is is what's really extraordinary enough just because, you know, SpaceX has been insourcing the Cursor compute. [01:29:05] S1: Yes. So on on Cursor SpaceX, like the post merger integration, it feels like GrokBot has stepped forward in terms of capability. Is the key to growth there... Like, we haven't seen the the models from xAI, like, stunned on a particular benchmark, but the Cursor team has always been fantastic on product and distribution. In the prior era, Grok was putting up pretty remarkable results on the on the benchmarks, but then there were all the political considerations, and the the product was banned in some companies. It feels like Grokbot might be in a particularly different slot because they have that go to market motion through Cursor with the Cursor design team behind it. Is that what's driving growth there? What are you seeing on the GrokBot side that's actually showing, acceleration in that product category?
01:29:05 · John Coogan, Gavin Baker
[01:29:05] S1: Yes. So on on Cursor SpaceX, like the post merger integration, it feels like GrokBot has stepped forward in terms of capability. Is the key to growth there... Like, we haven't seen the the models from xAI, like, stunned on a particular benchmark, but the Cursor team has always been fantastic on product and distribution. In the prior era, Grok was putting up pretty remarkable results on the on the benchmarks, but then there were all the political considerations, and the the product was banned in some companies. It feels like Grokbot might be in a particularly different slot because they have that go to market motion through Cursor with the Cursor design team behind it. Is that what's driving growth there? What are you seeing on the GrokBot side that's actually showing, acceleration in that product category? [01:29:55] S2: I mean, as a user, Rockbot is the most impactful AI product to me and to and to our... You know, to our... The... To the to the firm Yeah. That we've had yet. Like, you know, I clued together all this stuff with Claude code and Yeah. Like really, you know, I'm sure it was user error on my part, you know. Sure. 50 years old. Yeah. I'm doing my best. But Grok Bot, it just makes it so easy. I think I'm up to like 17 Grok Bots. [01:30:23] S1: Woah. [01:30:23] S2: And every day, I think of a new one to add. That's good.
01:30:23 · Gavin Baker, John Coogan
[01:30:23] S2: And every day, I think of a new one to add. That's good. [01:30:27] S1: Yeah. You're giving me a layer of, somebody, the the the senior manager, senior Grock bot. How are you how are you personally dividing, AI agents across your personal life and your professional life? Because a lot of people will have, like, a family office with a personal assistant who manages, you know, getting gifts for their family members or planning birthday parties. And then separately, they'll have an executive assistant who plans their business travel and their calendar for work stuff. And it feels like we might be entering a world where those two merge together and you have one agent that does everything, but we also might wind up in a world where people are using GrockBot at work or Clogcode at work and then Instinct or Muse and Personal and OpenAI has products in both. And they're sort of like a... An array, but it's a decision for everyone. How have you been grappling with it? [01:31:18] S2: Well, I guess you would say I I I guess I have executive assistant privilege because my assistant Susan is exceptional. [01:31:23] S1: Yeah. And she... Yeah. Exactly. [01:31:25] S2: I'm not going anywhere.... Felt the need, you know, to... Yeah. I've I've of course downloaded Instinct and played around with Muse. Sure. But... And I could see they would be super amazing if if I did have someone like Susan in my professional life, but I do. [01:31:43] S1: Yeah. [01:31:45] S2: But for the more professional use cases, [01:31:48] S1: I [01:31:49] S2: mean, Grock Bot has just been transformative
01:31:49 · Gavin Baker, John Coogan
[01:31:49] S2: mean, Grock Bot has just been transformative [01:31:53] S1: Yeah. For me. Yeah. There is Like [01:31:55] S2: so much as... Yeah. Yeah. So much of investing is making sure that the right information gets to the right person at the right time. [01:32:01] S1: Yep. [01:32:01] S2: And Grockbot is so good at that. [01:32:04] S1: Yeah. And there's also something so satisfying with the AI agents of, like, it can be 10PM on a Sunday, and you can kick off, like, a real research effort that, yes, you could probably call someone on your team and say, I need you to... I mean, like, that would be crossing a professional line. All of a sudden, you'd be, like, kind of a hassle of a work... Of a boss, and people might not wanna work there because they're like, yeah. He calls me every time he takes a shower. He has a shower thought, and then I gotta work for six hours. But instead, the AI is like, yeah, boss. I'm right here. Oh, I'd I'd love to look that up for you and spend a 1,000,000 tokens figuring out, you know, with the market size of something or other. But... Yeah. [01:32:42] S2: Well, my policy is actually anybody at a tradies is always welcome to call me anytime on the weekend. I try not to call people [01:32:50] S1: Yeah. [01:32:50] S2: On the weekends. Yeah.