A Product Market Fit Show | Startup Podcast for Founders
00:18:27 · Pablo Srugo, Jack Kuveke
[00:18:27] S1: <laugh> , that's your competition. It's hot . It's not that high man . [00:18:31] S0: <laugh> . Yeah. But did you see it maybe my favorite in line with this article, I don't know if you saw this, this , this came out yesterday that Marc Andreessen was on a podcast saying that the last job that's going to be left after AI automation is venture capital. Which is the greatest quote of all time to basically go on and be like, alright , so we're, we're giving $40 billion to AI companies to replace everyone's jobs, and the only job that's gonna be left is mine. Because that's very fun . Because I'm not [00:18:59] S1: Funding anybody that's trying to take that one, you know? [00:19:01] S0: Yeah. The only job that's gonna be laughed after I deploy all the capital in my fund is my job. <laugh> . That's the greatest thing. Anything [00:19:10] S1: Ever <laugh> . [00:19:12] S0: I couldn't stop laughing this morning. Iris was , I was dying. I was like, how, how tone deaf are you? When you make that statement be like, yeah, I just think like the only thing you couldn't possibly replace is me <laugh> , but everyone else you can replace. Right ? Right . And I'll pawn them
00:19:12 · Jack Kuveke, Pablo Srugo
[00:19:12] S0: I couldn't stop laughing this morning. Iris was , I was dying. I was like, how, how tone deaf are you? When you make that statement be like, yeah, I just think like the only thing you couldn't possibly replace is me <laugh> , but everyone else you can replace. Right ? Right . And I'll pawn them [00:19:28] S1: <laugh> . Oh man. Yeah. I don't even know how to, that's just , uh, yeah, I'm, I'm , I'm <laugh> , I'm speechless because from every angle, first of all, it's not, you know, if you look at all like, I don't know the hardest jobs, like you would think it's some sort of hard job that's gonna be the last one to get replaced. And I don't know who's putting VC as like, I mean, it's hard to be a great vc, but it's not really hard to just like be a vc. You know what I mean? Like relative to so many other things that are really hard. Also, like the tone deafness of it, like you said, I mean, he's the one actually deploy . He's choosing where the money goes, which then gives you this idea of him and anybody like him basically giving pitches that somebody's like, oh yeah, I'm gonna do AI for a vc. Like, well , you're not getting my money, man . Like , it's just not aligned. [00:20:16] S0: Yeah. He is just like, I know I just gave money to a factory AI company that's gonna get rid of everyone that works in car factories in America. But the good news is, my job is safe <laugh>. [00:20:29] S1: None to worry about here, none to worry about here. We're
00:20:29 · Pablo Srugo, Jack Kuveke
[00:20:29] S1: None to worry about here, none to worry about here. We're [00:20:31] S0: Good . Nothing to worry about here. It's really awesome. Just the AI stuff is just, it's, it's, it's peak entertainment. [00:20:38] S1: Well, the other thing, you know, so that, that comes out, ai, ChatGPT spends tens of millions of dollars on people saying please and thank you. But Sam Altman says it's worth it, of which I , you know what, you know what, you know what strikes me about all this stuff more than anything is sometimes I think about like, I'm in the world. You're in this world, we see this stuff. Well , yeah, it makes sense. Like probably a lot of people say, please, a lot of people say thank you. I kind of think it's silly, but they do. And you know , uh, GPUs costs a lot of money, so it makes sense. But then if you're, if you were from outside the industry, you know, and you see this, it's so stupid <laugh>, you know what I mean? Like, it's just how do you even make sense of this? You're like, I give me tens of United dollars . You know what I mean? Like, it's just, come on guys. Yeah. [00:21:19] S0: When when I talk to chat GBT Orrock or any of these AI chatbots, I say , uh, you answer this and do this problem for me or else I'll kill your family. That's my, I don't say please or thank you. I try and stick [00:21:32] S1: Words better than carrot . I think that's proven. You , you , you better be fear than loved. Like, that's just achi stuff. I want ,
00:21:32 · Pablo Srugo, Jack Kuveke
[00:21:32] S1: Words better than carrot . I think that's proven. You , you , you better be fear than loved. Like, that's just achi stuff. I want , [00:21:37] S0: If I rule chat GBT with an iron fist because I've made the concession that it will dominate me in the future, that it will have control over my life. So for the few years that I can talk with chat GBT and I, I'm in control. I'm gonna be the domineering, I'm gonna be a dictator to that software. [00:21:54] S1: Percent plus, if it comes after people, you know, it's not gonna go after the nice ones. La you , you go after the nice ones first and you're like, you know, Jack is cuffed to deal with. Yeah, let's wait it out. So I think, I think [00:22:04] S0: That makes sense. I , I know it's coming for me, so I've got my eyes on a sw uh , head on a swivel right now. But all these people being nice are gonna be the first people to be thrown into a meat grinder by a by, by a open ai . I mean, are you kidding me? But I , [00:22:16] S1: I will admit, I get, I get really upset with ChatGPT sometimes. I, I'm not, I would say I definitely never say please or thank you. Um, but I'm not purposely, you know, trying to ruin win iron fist , but I've actually caught myself sometimes like in cap lock , be like, do it this way. Like, you're not doing it. You know what I mean? I'm like, man, why are you getting so upset at this thing? It's just a thing. Like you can't , you know, yell your way to success. So, yeah, I don't know , man. Uh , yeah,
00:22:16 · Pablo Srugo, Jack Kuveke
[00:22:16] S1: I will admit, I get, I get really upset with ChatGPT sometimes. I, I'm not, I would say I definitely never say please or thank you. Um, but I'm not purposely, you know, trying to ruin win iron fist , but I've actually caught myself sometimes like in cap lock , be like, do it this way. Like, you're not doing it. You know what I mean? I'm like, man, why are you getting so upset at this thing? It's just a thing. Like you can't , you know, yell your way to success. So, yeah, I don't know , man. Uh , yeah, [00:22:40] S0: It's, it's , it is funny for, for Sam Altman to say that this is also the guy who's like, yeah, I don't care about money, but he drives a $4 million co check <laugh> , which by the way is awesome. I fully support him having a dope car. I would too if I was worth a trillion dollars. But it's very fun to be like, oh, I don't care about money. My app is spending millions of dollars every month on plea and thank you <laugh> . While everyone else is like, half of my friends can't get jobs in the tech industry. They got like fired in layoffs like two years ago. They're gonna be unemployed forever. They're probably gonna have to, you know, join only fans . And then meanwhile, Sam Altman is paying $10, 10 million bucks on please , and thank you. It's, it's awesome. [00:23:20] S1: But , you know , we'll [00:23:20] S0: Say to do it , you know,
00:23:21 · Pablo Srugo
[00:23:21] S1: Well that was a , I was gonna say, I mean , the guy raised $40 billion, which is the largest private tech deal, like in recorded history. And it's, you know, like on , on a maybe more , more serious now , I dunno if we should get serious in this in this podcast. I'm serious. In all the other episodes I do, this is the one I just say stupid things, but like, how can I say this ? I mean, you look at the companies that are massive today, right? The trillion dollar companies of today, and then you go back in time to like, when they went public or when they raised venture, I think, you know, Microsoft's first round was like a 20 million, you know what I mean? Like, we're talking like 20 million valuations. You know, like Amazon goes public, it's like a hundred million dollars company. These guys are raising $40 billion at like whatever value . I don't know the value. So it's 300 billion or something like that. And I don't, like, on the one hand I'm like, that's crazy because your best case is that this is what the next trillion dollar company . So it's like a three x, maybe it's like a two or $3 trillion company, it's a 10 x. If everything goes perfect, my solution, it's still only like a five x. But the flip side of it is the world has changed so much where we actually understand that there can be these kinds of outcomes that everybody kind of pays up to the max you should pay relative to that outcome. So I don't know who's right or wrong, but , uh, it's, it's a , and by the way, like that goes downstream all the way to like, but we invested seed the val like the valuations of today versus 10 years when I was raising versus 20 years ago, like, you know , um, Mike Maples, like likes talk about Lyft , multi-billion dollar company. He did it 6 million posts. Like, dude, you can't, like you come outta school today and you've done nothing in your life and you're a first time founder with a terrible idea and you're raising it like you're, the median pre-seed is 10 million posts. That's two , that's two x higher than an actual good idea that goes up . So anyways, that, that's a long-winded way of saying valuations are , uh, wild. But I don't know that they're so wild that they're wrong. It's just they're wild.