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AI Hustle: News on Open AI, ChatGPT, Midjourney, NVIDIA, Anthropic, Open Source LLMs
In this episode, we discuss how some VCs and founders inflate or frame ARR to make startups look stronger for the press. We also look at why these numbers matter, how they shape public perception, and what it means for trust in the startup ecosystem. Our AI Hustle Skool Community: https://www.skool.com/aihustleGet the top 80+ AI Models for $8.99 at AI Box: https://aibox.aiGet the AI Chat Daily Newsletter: https://www.aichatdaily.com/newsletter
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Brendan Foody is the Founder and CEO @ Mercor, one of the leading data providers to the largest labs on the planet including OpenAI. In the last two years, Brendan has scaled the company to $1.5BN in ARR and a valuation of $10BN. AGENDA: True or False: Mercor lost Meta and OpenAI as a customer with the hack? Mercor has been poaching competitor talent, paying them millions? Mercor revenue is not real revenue and is only GMV? 12:56 Would Brendan sell Mercor for $30 billion? 14:23 Why everyone is wrong that AI will lead to labor displacement? 15:59 We will create many new jobs that do not exist with AI. 16:59 Why training agents will be a massive labor category that does not exist today 19:51 Will we see the data provider market unbundle and specialize into verticals? 22:24 Is the stated revenue really revenue or is it really GMV? 27:55 How a 1 million ARR company secured one of the best investors in the world with a helicopter ride 29:41 How Felicis secured the deal of the decade with a race track and a set of Ferraris 32:59 Which investment round felt like the highest price to grow into? 34:49 Why will value accrue to the infrastructure layer, not the application layer, in the next 12 months? 35:46 Why the model is the product and why application layer companies should be scared as a result 37:22 Why network effects will be the determinant of value creation 38:46 Why the forward-deployed motion, not the GTM motion, will determine true value creation. 41:59 Why token spend within organizations is going to continue to increase 43:54 Why agent evaluation to commoditize the model layer will be a massive business for enterprises? 51:13 Why we should have increased capital gains tax 01:01:31 How to compete with $20 million a year from Meta? 01:08:49 Will Mercor go public and when?
There is a very loud version of entrepreneurship online right now: quit the job, burn the safety net, go all in, and figure it out later. I get the appeal. I also think that advice can get expensive very quickly, especially when the business has not been validated yet. Mike Shannon joins me to talk about the much messier, smarter side of starting a business. Mike has built multiple companies, appeared on Shark Tank, worked in AI, and wrote Sweaty Equity, a book about the unglamorous middle of entrepreneurship. His story is not the polished founder myth. It is Shark Tank one day, Chicago Bulls laundry room the next, then years of pivots, investor pressure, customer discovery, and learning how to actually build something that works. If you are a corporate professional, side hustler, first-time founder, or future entrepreneur wondering whether you should quit your job to start a business, this conversation is your reality check. We talk about why keeping your day job can create runway, why "build the thing, sell the thing" matters more than startup hype, and how to use messy action without blowing up your career stability. Inside this episode • Why quitting your job too early can create unnecessary founder pressure • How Mike Shannon went from Shark Tank with Mark Cuban to the Chicago Bulls laundry room • Why business validation matters more than investor validation • The simple startup framework: build the thing, sell the thing • How customer discovery helps you avoid forcing the wrong idea into the market • What Sweaty Equity reveals about the messy middle of entrepreneurship What's one "corporate game" rule you've learned the hard way?
Patrick Moorhead and Daniel Newman cover Daniel's acquisition of Enterprise Technology Research, IBM's historic $15 billion single-day commitment spanning quantum and open-source security, Anthropic's Claude Opus 4.8, and the heaviest single earnings night of the season featuring Dell, Marvell, Salesforce, Synopsys, Snowflake, HP, and Micron crossing $1 trillion in market cap. The handpicked topics for this week are: Anthropic Releases Claude Opus 4.8: Six Weeks After 4.7 Anthropic dropped Opus 4.8 just six weeks after 4.7, claiming it surpasses GPT-5.5 and Gemini 3.1 Pro on agentic coding, knowledge work, and computer use. Benchmark improvements across the board: agentic coding up from 64.3% to 69.2%, knowledge work from 1753 to 1890, agentic computer use from 82.8% to 83.4%. Three new features ship alongside it: Dynamic Workflows for multi-subagent orchestration inside Claude Code, Effort Control for managing token spend, and mid-task system messages via the API. Fast mode is now 2.5x faster and 3x cheaper. Pat's honest take: what it says on paper is good, particularly on tool triggering and citation precision, but he has lost significant trust in the company and is watching closely. (The Decode) IBM Commits $10 Billion to Quantum: The Largest Single Quantum Bet in History IBM announced a $10 billion commitment over five years targeting a large-scale fault-tolerant quantum computer by 2029, landing the same day as the $5 billion Project Lightwell announcement for a single-day IBM strategic commitment of $15 billion. Pat has been calling 2029 to 2031 as the realistic commercial quantum window and calls this the strongest single corporate financial signal yet that the timeline is real. Daniel's framing: IBM wants to be the NVIDIA of quantum, and with a $10 billion commitment, it's sending a flare to the entire industry that pure-play quantum companies cannot compete at this balance sheet level. (The Decode) IBM and Red Hat Launch Project Lightwell: $5B to Secure Open-Source Software IBM and Red Hat committed $5 billion and a global force of 20,000 engineers to secure open-source software for enterprises through frontier agentic AI, anchored by 11 of the largest US and Canadian banks including Bank of America, Goldman Sachs, JPMorgan Chase, Mastercard, and Visa. Pat's read: this is the productization answer to Anthropic Mythos. Mythos found the vulnerabilities. Lightwell is the industrial-scale patching and validation layer enterprises can actually buy on a subscription. Daniel adds that IBM is flexing its engineering talent base as a premium strategic asset, a direct counter to the narrative that AI replaces engineers. (The Decode) Anthropic Project Glasswing: 23,000 Vulnerabilities Found Across 1,000 OSS Projects Anthropic's Claude Mythos scanned more than 1,000 widely deployed open-source projects and surfaced approximately 23,000 candidate vulnerabilities, with 1,094 confirmed as critical severity. The Cyber Verification Program now gates the strongest cyber-capable Claude variant behind vetted defenders only. While the tool creates real value, the surface of attack will likely grow as fast as any tool built to defend it. (The Decode) Anthropic in Talks to Run Claude on Microsoft Maia 200 CNBC and The Information reported Microsoft is in active negotiations to supply Anthropic with its custom Maia 200 inference chip, which would make Anthropic the only frontier lab simultaneously running production workloads on four distinct silicon stacks: NVIDIA, AWS Trainium, Google TPU, and Microsoft Maia. Pat's context: Maia 200 delivers 30% better tokens per dollar than the latest Azure fleet per Satya Nadella, and this deal would be Maia's first major external deployment. Daniel's read: what can be built will be sold right now, and Anthropic chasing every available compute source is simply the structural reality of growing at 80x when you planned for 10x. (The Decode) The Flip: Is AI CapEx Too Expensive to Earn Its Return? Pat takes the affirmative. With $725 billion in hyperscaler CapEx tracking for 2026, likely $1 trillion next year, memory has become the choke point making it even more expensive, and open-source models have closed enough of the quality gap for most enterprise tasks that the premium of frontier APIs is increasingly hard to justify. A recent Signal65 white paper shows on-prem payback at 18 months. Daniel's counter: Dell just booked $24 billion in AI orders in a single quarter. Agentforce crossed $1 billion ARR at 169% growth. NVIDIA guided to $91 billion. Only 20% of enterprises are using AI and only 2% of consumers. Both hosts admitted off the flip their notes looked nearly identical. (The Flip) Micron Crosses $1 Trillion Market Cap Micron became the 12th US company ever to cross $1 trillion in market cap, surging 19% on May 26th as UBS raised its price target to $1,625, implying a $1.8 trillion market cap. Samsung's Q1 memory ASP jumped 146% year over year. DRAM spot prices spiked 55 to 60% quarter over quarter. Daniel has been pounding this call since sub-$100 and calls it a cycle elongated beyond anything seen in the 27 prior memory cycles, driven by HBM capacity reallocation away from consumer DRAM creating structural shortage. (Bulls and Bears) Dell Technologies Q1 FY27: The Biggest Enterprise AI Infrastructure Print of 2026 Record $43.8 billion revenue, up 88% year over year, crushing the $35.7 billion consensus by $8 billion. AI-optimized servers at $16.1 billion, up 757% year over year. $24.4 billion in AI orders booked in a single quarter. FY27 AI server revenue guide raised from $50 billion to $60 billion. Non-GAAP EPS of $4.86 beat the $2.96 consensus by 64%. Stock up 18% after hours. Pat's framing: Dell was very clear about what they were going to do. Rack engineering, sales, and service. The basics. And they executed the basics at an extraordinary level while building a special relationship with NVIDIA who views Dell as a market maker for both enterprise and NeoCloud. Daniel's add: play nice and win. Michael Dell navigated the political landscape brilliantly and pulled the entire Dell brand along with him. (Bulls and Bears) Marvell Technology Q1 FY27: Record Revenue, Data Center at 76% of Mix Record $2.418 billion revenue, up 28% year over year. Data center at $1.833 billion, up 27% year over year, now 76% of total revenue. Q2 guide of $2.7 billion at midpoint accelerates growth to 35% year over year. Operating cash flow a record $638.8 million. Daniel went on TV and said it's "written in the stars," arguing the market had misunderstood this one for too long by conflating its custom AI ASIC story with the full breadth of its connectivity and networking portfolio. Pat's closing: the shorts are eating it now and the custom AI ASIC versus merchant GPU debate is finally settling into the right answer, which is both in lockstep. (Bulls and Bears) Salesforce Q1 FY27: Agentforce Crosses $1 Billion ARR Revenue $11.13 billion, up 13% year over year. Non-GAAP EPS of $3.88 crushed the $3.12 consensus by 24%. Agentforce ARR crossed $1 billion, up 169% year over year, with 28.6 trillion tokens processed, up 152% quarter over quarter. 50% of Agentforce bookings came from existing customers expanding. Daniel flagged the $25 billion accelerated buyback funded by new debt as an interesting signal worth watching. Pat's bottom line: it's not perfect, but certainly no "SaaSpocalypse" in those numbers. (Bulls and Bears) Synopsys Q2 FY26: First Full Quarter With Ansys Integrated Revenue $2.276 billion, up 42% year over year, beating consensus. Non-GAAP EPS of $3.35 beat $3.15. FY26 guide raised to $9.665 billion midpoint. Daniel's framing: every chip runs through Synopsys tools, and the Ansys addition makes it the full-stack co-design platform Jensen Huang keeps talking about. Synopsys is not just the pick and shovel of current AI silicon. It is the pick and shovel of quantum, robotics, and space as well. (Bulls and Bears) Snowflake Q1 FY27: Strongest Sequential Dollar Growth in Company History Product revenue $1.33 billion, up 34% year over year, the strongest sequential dollar growth in Snowflake history. Net revenue retention 126%. FY27 product revenue guide raised to $5.84 billion. Natoma acquisition announced for secure agentic enterprise connectivity. New $6 billion multi-year AWS commitment. Daniel's closing: proprietary unique data is the real moat of the agentic era, and that data has to live somewhere. It is going to go to platforms like Snowflake. (Bulls and Bears) HP Inc. Q2 FY26: Eight Straight Quarters of Growth With AI PCs at 44% of Shipments Revenue $14.4 billion, up 9% year over year, the company marks its eighth consecutive quarter of top-line growth. Non-GAAP EPS of $0.86 beat the prior guide. Personal Systems at $10.2 billion, up 13%, with 30% operating profit growth. AI PCs jumped from 35% to 44% of shipments quarter over quarter, with HP guiding to 60 to 70% next fiscal year. FY26 EPS guide raised. Pat's note: they still need a permanent CEO, which would help investors sleep better at night. Daniel's add: the real explosive moment for device companies comes when AI moves to the edge and enterprises shift from expensive frontier model consumption to on-device inference. (Bulls and Bears) Everpure Q1 FY27: Record Revenue, Rebrand Complete Record revenue of $1.1 billion, up 35% year over year. Product revenue $577 million, up 55%. Subscription ARR at $2 billion. FY27 guide raised to $4.41 to $4.51 billion. Pure Storage officially completed its rebrand to Everpure. Daniel's emerging thesis: the agentic era has focused enormous attention on memory and compute, but after the inference runs, the data has to sit somewhere. Storage has not seen its full inflection yet and Everpure is well positioned when that wave arrives. (Bulls and Bears) The Decode Anthropic Releases Claude Opus 4.8 May 28 https://techcrunch.com/2026/05/28/anthropic-releases-opus-4-8-with-new-dynamic-workflow-tool/ IBM Commits $10B Over Five Years to Quantum Computing the Same Day as $5B Project Lightwell, Bringing IBM's One-Day AI https://www.barrons.com/articles/ibm-stock-quantum-computing-aafbb1eb IBM + Red Hat Announce Project Lightwell https://newsroom.ibm.com/2026-05-28-ibm-and-red-hat-commit-5-billion-to-redefine-the-future-of-open-source-in-the-ai-era Anthropic Project Glasswing / Claude Mythos Finds 23,000 Potential Vulnerabilities Across 1,000+ Open-Source Projects https://www.securityweek.com/anthropic-mythos-detected-23000-potential-vulnerabilities-across-1000-oss-projects/ Anthropic Negotiating to Run Claude on Microsoft's Maia 200 AI Chips https://www.cnbc.com/2026/05/21/anthropic-microsoft-maia-200-ai-chip.html OpenAI + Anthropic Walk Back the AI Jobs Apocalypse Ahead of IPOs https://finance.yahoo.com/sectors/technology/articles/ai-chiefs-walk-back-job-193605798.html https://x.com/RiskCentre/status/2059397756016611668 The Flip Is AI Capex Becoming Too Expensive to Earn Its Return — and Will the Result Be a Forced Shift to Open-Source and Smaller Use-Case-Specific Models, or a Continued $725B+ Hyperscaler Buildout That Vindicates the Capex on Productivity Gains? FOR: The shift is to open-source + smaller use-case-specific models with better token economics, not away from AI https://x.com/danielnewmanUV/status/2059822712122400975 DeepSeek 75% permanent price cut + Anthropic Claude Code restriction reversal https://www.buildfastwithai.com/blogs/ai-news-today-may-26-2026 $190B Microsoft capex + $725B+ aggregate hyperscaler capex with no analog ROI yet https://www.buildfastwithai.com/blogs/ai-news-today-may-26-2026 AGAINST: Salesforce Agentforce ARR crossed $1B this quarter on 28.6T tokens processed https://www.stocktitan.net/sec-filings/CRM/8-k-salesforce-inc-reports-material-event-3b8ead2852bb.html Lenovo +105% AI revenue, +84% Q4; Dell $43B AI backlog: the AI infrastructure flywheel is converting capex to revenue today https://investor.marvell.com/news-events/press-releases/detail/1023/marvell-technology-inc-reports-first-quarter-of-fiscal-year-2027-financial-results NVIDIA $91B Q2 guide + $1T Blackwell+Vera Rubin CY25-CY27 reaffirmed https://www.cnbc.com/2026/05/20/were-raising-our-price-target-on-nvidia-after-another-knockout-quarter-and-guide-.html DeepSeek + Chinese price war is a Chinese export-controls story, not a US economic ceiling story https://www.cnbc.com/2026/05/21/anthropic-microsoft-maia-200-ai-chip.html Bulls & Bears Micron (NASDAQ: MU) Crosses $1 TRILLION Market Cap for the First Time https://www.cnbc.com/2026/05/26/micron-stock-trillion-market-cap.html Dell Technologies Q1 FY27 ACTUALS https://www.cnbc.com/2026/05/28/dell-q1-earnings-report-2027.html Marvell Technology Q1 FY27 ACTUALS https://investor.marvell.com/news-events/press-releases/detail/1023/marvell-technology-inc-reports-first-quarter-of-fiscal-year-2027-financial-results Salesforce CRM Q1 FY27 ACTUALS https://investor.salesforce.com/financials/quarterly-results/ Synopsys SNPS Q2 FY26 ACTUALS https://investor.synopsys.com/events-and-presentations/events/event-details/2026/Q2-Fiscal-Year-2026-Earnings/default.aspx Snowflake SNOW Q1 FY27 ACTUALS https://www.businesswire.com/news/home/20260527027931/en/Snowflake-Reports-Financial-Results-for-the-First-Quarter-of-Fiscal-2027 HP Inc. HPQ Q2 FY26 ACTUALS https://finance.yahoo.com/markets/stocks/articles/hp-q2-earnings-call-highlights-230459161.html Everpure (NYSE: P, formerly Pure Storage) Q1 FY27 ACTUALS https://investor.salesforce.com/financials/quarterly-results/ Synopsys SNPS Q2 FY26 ACTUALS https://investor.synopsys.com/events-and-presentations/events/event-details/2026/Q2-Fiscal-Year-2026-Earnings/default.aspx Snowflake SNOW Q1 FY27 ACTUALS https://www.businesswire.com/news/home/20260527027931/en/Snowflake-Reports-Financial-Results-for-the-First-Quarter-of-Fiscal-2027 HP Inc. HPQ Q2 FY26 ACTUALS https://finance.yahoo.com/markets/stocks/articles/hp-q2-earnings-call-highlights-230459161.html Everpure (NYSE: P, formerly Pure Storage) Q1 FY27 ACTUALS https://www.prnewswire.com/news-releases/everpure-announces-first-quarter-fiscal-2027-financial-results-302783502.html
One of the most frightening situations a rider can face is realizing the bike won't slow down on a long, steep mountain descent. That's exactly what happened to Seth Cooper in Costa Rica. In this episode of DEEP TROUBLE, Seth shares how a rented KTM 690 Enduro R, an unfamiliar mountain road, and a series of seemingly manageable decisions combined to create a genuine survival situation. It's a story about risk, assumptions, bike condition, route choice, and how options can disappear faster than you expect.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★
I just attended Allocate's Beyond Summit in Deer Valley Utah. It was a peek into what the top VC's and LP's are thinking about right now.Allocate asked me to record an episode of the show, live from the conference.So I asked everyone “What's your hottest take on the VC market today?”Thank you to Numeral, Flex, and Amplitude for supporting this episodeNumeral: The end-to-end platform for sales tax and compliance https://www.numeral.comFlex: Get premium banking and a net 60 day credit card at 0% APY https://home.flex.one/referral/bananacapitalAmplitude: AI analytics, all you have to do is ask https://www.amplitude.comTimestamps:(1:22) Seed investing is dead (Tripp Jones, Uncork)(5:56) Seed is not dead (Bryan Rosenblatt, Sandlot)(13:19) Most consensus era of VC ever (Nate Williams, Union)(18:02) Taking the Power Law Pill (Pratyush Buddiga, Susa Ventures)(29:15) The 2nd-time founder premium is dead (Matt Cohen, Ripple Ventures)(32:46) AI will crush intelligence labor (Clark Cheng, Merrimac)(42:25) New deep tech investors will lose their shirts (Sunil Nagaraj, Ubiquity Ventures)(46:39) ChatGPT for robotics is still 15 years away (Sungjoon Cho, Fortitude Ventures)(52:07) The app layer ARR reckoning (Josh Christensen, Mercato)(58:30) The AI bubble will pop in Q2/Q3 (Amias Gerety, QED)(1:08:22) Most individuals do VC wrong (Jon Oberheide)(1:15:25) Allocators have become too allocator-y (Dan Feder, University of Michigan)(1:20:55) LP's should value information, not just returns (Ben Ivey, Marshall Street)(1:24:09) Upcoming litigation of Russian doll SPVs (Asher Siddiqui, Song United)(1:30:13) Why retail needs private market access (Sarah Pinto Peyronel, Robinhood Ventures)Referencedhttps://beyondsummit.allocate.co/Tripp Jones, Uncork CapitalTwitter: https://x.com/thistrippjonesBryan Rosenblatt, SandlotTwitter: https://x.com/BRosenblatt4Nate Williams, UnionTwitter: https://x.com/naywilliamsPratyush Buddiga, Susa VenturesTwitter: https://x.com/pratyushbuddigaMatt Cohen, Ripple VenturesTwitter: https://x.com/mattybcohenClark Cheng, MerrimacLinkedIn: https://www.linkedin.com/in/clark-cheng-cfa-frm-caia-a411535Sunil Nagaraj, Ubiquity VenturesTwitter: https://x.com/sunilnagarajSungjoon Cho, Fortitude VenturesTwitter: https://x.com/josungjoonJosh Christensen, MercatoLinkedIn: https://www.linkedin.com/in/joshjdmba/Amias Gerety, QEDTwitter: https://x.com/amiasmgJon OberheideTwitter: https://x.com/jonoberheideDan Feder, MichiganLinkedIn: https://www.linkedin.com/in/danfederBen Ivey, Marshall StreetLinkedIn: https://www.linkedin.com/in/beniveyAsher Siddiqui, Song UnitedLinkedIn: https://www.linkedin.com/in/ashersiddiquiSarah Pinto Peyronel, Robinhood VenturesTwitter: https://x.com/SPintoPeyronel*This podcast is produced by Allocate for informational and educational purposes only and is intended for institutional, accredited, and qualified investors. Nothing discussed constitutes an offer to sell or solicitation to purchase any security or advisory service, and nothing should be construed as legal, tax, or investment advice. Any offering will be made only pursuant to applicable confidential offering documents.Views expressed by participants are their own and subject to change. Any discussion of target returns, projected outcomes, IRRs, MOICs, or other performance metrics is hypothetical and illustrative only and should not be relied upon as an indication of future performance.Investments in private funds are speculative, illiquid, and involve substantial risk, including possible loss of the entire investment. Past performance is not indicative of future results.Certain guests may have financial or other interests in the opportunities discussed. Allocate Management Company, LLC is an SEC-registered investment adviser. Registration does not imply any level of skill, training, or SEC endorsement. Please consult your own advisors before making any investment decision.*
Jake Stauch is the co-founder and CEO of Serval, the AI-native enterprise service management platform. Serval was founded in 2024 and has already raised over $125M across rounds led by Redpoint and Sequoia at a $1B+ valuation. Before Serval, Jake spent five years on the product team at Verkada and earlier founded NeuroPlus, a brain-sensing hardware company that made video games for kids with ADHD.In this episode of Summation, Jake and Auren discuss:Why Anthropic has added more ARR in the past few months than ServiceNow has in the past 20 yearsThe "forward deployed engineer" hire and why he recruits future founders instead of solutions engineersWhy talent density is the only remaining moat in the age of AIThe Silicon Valley collusion around not poaching each other's employeesYou can find Auren Hoffman on X at @auren and Jake Stauch on X at @jakeserval
Owner.com is approaching $100M ARR selling to independent restaurants and their GTM team is producing numbers that shouldn't be possible. $150K AEs closing $2M+ ARR per year. Outbound BDRs generating $100K in closed-won ARR per BDR per month. 4X the ARR per rep compared to direct competitors. None of that happens by accident. In this session, Kyle Norton, CRO at Owner.com, breaks down the exact AI-driven GTM playbook that got them there, including 5 decisions he believes every SaaS company needs to make right now before the gap between AI-native and AI-curious companies becomes impossible to close. What you'll learn: 1. Centralized vs. decentralized AI: why letting a thousand flowers bloom is probably killing your results 2. Build vs. buy: the 5-question framework (hint: buy your infrastructure, build your intelligence) 3. The AI sophistication ladder — Levels 0 through 4, where most companies are stuck, and exactly how to move up 4. The "5 P" prioritization framework for deciding which AI projects to tackle first 5. Agentic vs. assistive: how to think about human-in-the-loop and why chaining too many generative steps is the #1 cause of AI slop 6. Why your personal compounding AI stack is your most underrated competitive asset This isn't theory. This is what $100M ARR in a notoriously difficult SMB market actually looks like when you go all-in on applied AI.
Send us Fan MailIn this episode of Small‑Cap Spotlight, Zak Calisto, Founder, Chairman, and CEO of Karooooo, joins host Tim Gerdeman and WTR analyst Eric Goldstein to discuss the global connected vehicle and fleet intelligence platform built on Cartrack, a SaaS telematics leader with more than two decades of operating history. With 2.6 million subscribers across four continents, Karooooo delivers real‑time vehicle tracking, driver behavior analytics, and workflow automation on a highly recurring subscription model. FY2026 was a record year, with Cartrack subscription revenue up 19%, ARR reaching USD 325 million (up 38% in dollar terms), and the Board raising the annual dividend 20%. FY2027 guidance points to continued subscription revenue acceleration and 21% EPS growth at the midpoint.
For twenty years, marketers chased lowest-common-denominator search traffic by repackaging the same information everyone else was publishing. AI just made that playbook worthless. In this episode of Content Amplified, Stacy Shelley, a 20-year B2B cybersecurity marketing veteran who has led marketing at startups that scaled to hundreds of millions in ARR, explains what marketers should be doing instead. Stacy walks through why generic high-volume content is getting swallowed by AI overviews, why your website's job has narrowed to making an unforgettable impression on people who already know who you are, and why the awareness stage of the funnel now happens in Slack groups, Discords, social feeds, and the communities your audience actually trusts. He also reframes how to measure content success, away from raw traffic and toward ICP-account engagement and pipeline influence. If you are trying to figure out what content marketing looks like after SEO stops carrying the weight, this conversation gives you a clear path forward.About StacyStacy Shelley has been marketing in B2B cybersecurity for about 20 years, starting in the early 2000s post-antivirus era before security became its own industry. He has led marketing for multiple startups, including some that scaled into the hundreds of millions in ARR and others that had strong early exits. His entire career has been spent marketing to security buyers, an audience he describes as smart, skeptical, and full of trust issues, which means the playbooks that work everywhere else rarely translate.Show Notes- Connect with Stacy on LinkedIn: https://www.linkedin.com/in/stacyshelley/Text us what you think about this episode!
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Chad Peets is one of the most straight-talking, no BS sales leaders of our time. Today, he partners with founders of the fastest growing companies in the world, like Harvey, Factory to build the best sales teams in a world of AI. Chris Degnan is a legendary technology sales leader who achieved the historic feat of scaling Snowflake from $0 to $4BN in ARR. AGENDA: 00:00 – The $100M CRO Packages Nobody Believes Are Real 04:10 – Why Most "Elite" Salespeople Are Actually Just Order Takers 08:00 – The Secret to Hiring Killer Sales Talent at Early-Stage Startups 10:05 – 20x Quotas & The Death of Traditional Pipeline Generation 16:20 – The ARR Scam: Why Most AI Revenue Numbers Are Fake 17:45 – Why the Best Engineers Do Not Want to Be Forward Deployed Engineers 21:10 – Why Paying Everyone the Same Kills Great Sales Organisations 24:15 – Anthropic's Crazy Compensation Is Breaking the Entire Sales Market 29:00 – The Brutal Truth About Replacing CROs & Firing Sales Leaders 32:20 – Forecasting in AI Is Completely Broken 38:20 – The Fatal Mistake Founders Make Chasing Venture Valuations 39:40 – Why Most VCs Give Absolutely Terrible Sales Advice 42:10 – Global Sales From Day One: The New AI Go-To-Market Playbook 44:15 – "Anthropic Is a $5 Trillion Company" 47:40 – The Death of the Traditional SDR & The Rise of Full-Stack AI Sellers 49:00 – Consumption Pricing, Vertical AI & Why SaaS Is Getting Rewritten 52:00 – What the Best Sales Cultures Still Get Right in the AI Era
Patrick Moorhead and Daniel Newman return from Dell Technologies World to unpack Google I/O's Gemini-as-operating-system moment, the Blackstone-Google TPU joint venture nobody saw coming, NVIDIA's $81.6 billion quarter with a $91 billion guide, and debate whether or not the "SaaSpocalypse" is finally over. The handpicked topics for this week are: Google I/O 2026: Gemini Becomes the Operating System. Google I/O repositioned Gemini from a product to the operating layer for everything Google does, and the numbers backed it up. 900 million monthly active users, 3.2 quadrillion tokens per month, a 7x jump year over year. Pat's headline: this is about widening distribution, not just model quality. Gemini 3.5 Flash, Antigravity 2.0, Gemini Spark, and Android XR glasses all extend Gemini into surfaces that no competitor can replicate. Daniel's read: the token-cost reckoning is coming, and when enterprise subsidies end, models that can deliver value at a lower cost per token will become the ground zero of the next era. (The Decode) Dell Technologies World 2026: AI Factory Goes Agentic, 1,000 New AI Server Clients. Pat and Dan were both on the ground in Las Vegas and called it the most consequential Dell event in years. Michael Dell and Jensen Huang co-keynoted to launch the next-generation Dell AI Factory with liquid-cooled PowerEdge XE9780 servers, Dell Deskside Agentic AI, and a multi-model ecosystem including Google Distributed Cloud with Gemini 3.0, on-prem OpenAI Codex, and Grok. 1,000 new AI server clients in a single quarter is the cleanest leading indicator of enterprise demand heading into Dell's Q1 print. Pat's biggest takeaway: OpenShell as a control plane for agents spanning from the GB10 all the way to the PowerEdge rack has been the missing orchestration piece. Daniel's read: large enterprises are going to build hybrid AI architectures and want to deliver tokens at the lowest possible on-prem cost, and Dell is ready. (The Decode) Blackstone and Google Launch a $5B TPU Joint Venture. Pat called it the biggest story of the week and the one that went most under the radar. For the first time, a hyperscaler has released its proprietary AI silicon to a third-party distribution entity. The $5 billion deal, up to $25 billion with leverage, targets 500 megawatts of capacity online by 2027. Daniel's framing: Google decided its custom silicon is worth more as a commercially distributed asset than as a captive moat. Pat's note: the proprietary nature of TPU infrastructure means retrofitting existing data centers will require real work, but the sovereign angle gives the JV a natural first market. (The Decode) AMD Helios, $10B Taiwan Investment, and the MI450 Anchor Customer Rumor. AMD dropped a $10 billion Taiwan ecosystem investment alongside confirmation that Helios rack-scale is on track for multi-gigawatt customer deployments beginning 2H 2026. A Citi rumor surfaced Anthropic as the anchor MI450 customer, to be formally announced at AMD's Advancing AI Day in July. Pat's read: Lisa Su has made a commitment and she almost never falls through. The analysts who said AMD would not ship anything in the second half of 2026 are going to be very wrong. (The Decode) OpenAI Guaranteed Capacity: Sam Altman's Moment. OpenAI launched multi-year compute commitment contracts the same week that Anthropic was struggling with capacity outages. Pat called it brilliant and said it makes Sam Altman look like a genius. It's the inference-era analog of cloud reserved instances: guaranteed availability at a locked price for one, two, or three years. Daniel added context: Anthropic's annualized ARR growth is nearly double OpenAI's and is about to lap them, so the model war is far from over. But for enterprises that need reliability, OpenAI just made the most compelling enterprise trust argument of the week. (The Decode) Sovereign AI Crosses $30 Billion at NVIDIA, 14% of Revenue. NVIDIA disclosed sovereign AI as a segment-level line for the first time, at $30 billion in FY26, 3x the prior year. Pat has been tracking sovereign for years and calls this the clearest possible signal that it has moved from marketing term to structural revenue category. Daniel's point: outside of the four or five hyperscalers doing all the major buying, sovereign is where the incremental demand is coming from and it is very real. (The Decode) The Flip: Is the SaaSpocalypse Over? Daniel took the affirmative and came in loaded. Every earnings report across CrowdStrike, Cloudflare, ServiceNow, Intuit, Salesforce, Atlassian, Notion, and monday.com shows companies growing with the AI tailwind. His core argument: there was a reason SaaS emerged 20 to 30 years ago. Companies do not want to be in the software business. Vibe-coded flat-file apps with no security, no governance, no data lineage look great in a kitchen demo and fall apart at enterprise scale. The SaaSpocalypse is over and he is tired of talking about it. Pat's counter: BofA slapped Salesforce with an Underperform at $160, 8% below where it trades. Snowflake is down 35% year-to-date. A senior Dell executive told him Dell will not buy another SaaS system and is tripling internal software creation. The growth question is real even if the terminal value is not zero. Both agree the tape will tell the real story. (The Flip) NVIDIA Q1 FY27 Results. Record $81.6 billion revenue, up 85% year over year. Data center at $75.2 billion, up 92%. Non-GAAP EPS of $1.87, up 140%. Q2 guide of $91 billion crushed the $86.8 billion consensus by $4 billion at the midpoint. $80 billion buyback authorized, dividend raised 25x. The stock went down after hours for the fifth consecutive time following a massive beat and raise. Pat's read: NVIDIA may be worth $8 to $9 trillion on paper at a sector-average multiple and 75% gross margins held. Daniel's framing: this is the best company in the world, possibly tied with Google, and it is becoming the Apple of this era. He sees a long safe journey of continued growth vs. speculative dollars chasing quantum and space names that can double in a week. (Bulls and Bears) Intuit: Earnings Beat, Revenue Miss. A 17% workforce cut, raised guidance, and $8 billion buyback were authorized. Pat's emerging thesis: these companies are cutting people to afford tokens. Intuit comes at a moment when OpenAI's ChatGPT finance plugin via Stripe is building an intelligence layer that could sit on top of Intuit's products without displacing them directly, at least not yet. (Bulls and Bears) Lenovo: Record $21.6 billion quarterly revenue, up 27% year over year. The company's fastest growth in five years. AI-related revenue is up 84% year over year to 38% of total company revenue. ISG returned to full-year operating profit with a $21 billion AI server pipeline. Pat and Dan both read Lenovo's results as NVIDIA tea leaves, a leading indicator of enterprise AI server demand that directly validates what Dell said on stage about 1,000 new AI server clients. (Bulls and Bears) Analog Devices: Record $3.62 billion revenue, up 37% year over year. EPS up 67%. Q3 guide of $3.9 billion crushed consensus by $270 million. Data center up 90%, industrial up 56%, comms up 79%. The $1.5 billion Empower Semiconductor acquisition adds integrated voltage regulator technology that can reduce AI data center power consumption by 10 to 15% while shrinking the power footprint by up to 4x. Daniel's closing point: you can't build AI servers without players like Analog Devices and Lattice Semiconductor. These essential node companies aren't boring, they're foundational. (Bulls and Bears) Check out all of our Dell Technologies World coverage linked in the show notes including our sit-downs with Michael Dell, Jeff Clark, and key customers. Be part of our community. Hit that subscribe button and see you at Computex. The Decode Google I/O 2026 — Gemini Becomes the Operating System: 900M MAU, 3.2 Quadrillion Tokens/Month, Gemini Omni, Antigravity 2.0, Gemini Spark, and Android XR Glasses https://blog.google/innovation-and-ai/sundar-pichai-io-2026/ Dell Technologies World 2026 — AI Factory Goes Agentic: Michael Dell + Jensen Huang Unveil PowerEdge XE9780, Dell Deskside Agentic AI, and a Multi-Model Ecosystem; Dell Adds 1,000 AI-Server Clients in the Quarter https://www.dell.com/en-us/blog/dell-technologies-world-a-bright-and-beautiful-road-ahead/ Blackstone + Google Launch $5B (Up to $25B w/ Leverage) JV to Sell Google TPUs Outside Google Cloud — First Time a Hyperscaler Has Released Its Custom Silicon to a Third-Party Distribution Channel; 500 MW Online by 2027, Benjamin Treynor Sloss as CEO https://www.blackstone.com/news/press/blackstone-announces-joint-venture-with-google-to-create-new-tpu-cloud/ AMD Announces $10B+ Taiwan Ecosystem Investment — Helios Rack-Scale Platform With MI450X GPUs and Venice EPYC on TSMC 2nm Targeting Multi-Gigawatt Deployments 2H 2026; the Clearest Second-Source Signal Yet https://ir.amd.com/news-events/press-releases/detail/1286/amd-announces-more-than-10-billion-in-taiwan-ecosystem-investments-to-accelerate-ai-infrastructure OpenAI Launches Guaranteed Capacity — Multi-Year Compute Commitments Turn Inference Capacity Into a New Enterprise Asset Class https://www.cnbc.com/2026/05/19/openai-announces-new-guaranteed-capacity-offering-for-customers-to-secure-compute.html The Sovereign AI Government Investment Wave — NVIDIA Discloses ~$30B Sovereign-AI Revenue (14% of Mix); UAE, Saudi, Japan, Australia, France All in Motion This Week https://finance.yahoo.com/markets/stocks/articles/analog-devices-q2-earnings-beat-153000996.html The Flip: Is the SaaSpocalypse Officially Over — or Is BofA's Split Call (ServiceNow Buy, Salesforce Underperform) the Real Signal That Platform AI Monetization Is Going to Be Bifurcated, Not Universal? FOR: BofA Reinstates Coverage of ServiceNow, Salesforce — Barron's (May 18) https://www.barrons.com/articles/servicenow-salesforce-stock-price-ai-7b109396 Embedded workflow + system-of-record stickiness still wins citing ServiceNow Q1 2026 financial results https://newsroom.servicenow.com/press-releases/details/2026/ServiceNow-Reports-First-Quarter-2026-Financial-Results/default.aspx Intuit Q3 revenue up 10%, cuts 17% of staff — SEC 8-K filing (May 20) https://www.stocktitan.net/sec-filings/INTU/8-k-intuit-inc-reports-material-event-b23073259896.html AGAINST: BofA Slaps Salesforce With Underperform Rating, $160 Price Target — 24/7 Wall St (May 18) https://247wallst.com/investing/2026/05/18/bofa-slaps-salesforce-with-underperform-rating-160-price-target-is-the-ai-story-falling-flat/ BofA resets Salesforce price target to Underperform — TheStreet (May 19) https://www.thestreet.com/investing/stocks/bofa-resets-salesforce-stock-price-target-to-underperform-at-160 Snowflake -35% YTD heading into May 27 print is the canary that platform stickiness is being repriced https://eciks.org/4640-22295-snowflake-set-to-report-q1-earnings-may-27-with-ai-strategy-in-focus OpenAI Guaranteed Capacity + Dell on-prem Codex create a credible path to displace seat-based SaaS https://www.cnbc.com/2026/05/19/openai-announces-new-guaranteed-capacity-offering-for-customers-to-secure-compute.html Bulls & Bears NVIDIA Q1 FY27 ACTUALS https://www.cnbc.com/2026/05/20/nvidia-nvda-earnings-report-q1-2027.html Intuit Q3 FY26 Actuals https://investors.intuit.com/news-events/press-releases/detail/1312/intuit-reports-strong-third-quarter-results-and-raises-full-year-revenue-guidance Lenovo Q4 FY26 ACTUALS https://www.cnbc.com/2026/05/22/lenovo-shares-jump-15percent-on-record-earnings-as-ai-revenue-nearly-doubles.html Analog Devices Q2 FY26 ACTUALS https://finance.yahoo.com/markets/stocks/articles/analog-devices-q2-earnings-beat-153000996.html
A Solo Motorcycle Journey Across Morocco, Europe, and the Sahara Desert in Search of Freedom, Simplicity, and a Slower Way of LivingWhat happens when someone who's spent a lifetime chasing schedules, productivity, and control suddenly trades it all for the uncertainty of the open road on a motorcycle? After retiring from finance, Rob Bridges set off alone across Morocco, Europe, and the Sahara Desert on a six-month motorcycle journey—only to discover that the hardest part of the adventure wasn't the riding, but learning how to slow down.Links & ResourcesPhotos, links, and resources for this episodeMore episodes: Adventure Rider Radio and RAWSupport the show: Support ARRFollow Adventure Rider RadioInstagramFacebookAbout the PodcastSince 2014, Adventure Rider Radio has shared adventure motorcycle travel stories, Rider Skills, Deep Trouble episodes, tech and gear features, and conversations with riders from around the world. New episodes of ARR are released every Thursday, with new episodes of RAW released monthly on the 21st. ★ Support this podcast on Patreon ★
In this episode of Run the Numbers, CJ sits down with ParkerGale Operating Partner Paul Stansik to break down five ways CFOs can help build a better sales engine: making the budget mean something, improving forecasting, sharpening metrics, getting involved in key RevOps moments, and building real trust with sales.—SPONSORS:Aleph is a modern FP&A platform built for teams that want more than another planning tool. By connecting your ERP, CRM, and other systems into one trusted data layer with AI workflows, Aleph helps you move faster with real-time insights. Get a personalized demo at https://www.getaleph.com/runRightRev is an automated revenue recognition platform built for teams that have outgrown spreadsheets and billing tool workarounds. It handles high-volume subscriptions, usage-based contracts, and mid-cycle upgrades, so you can scale without scrambling at month-end. For RevRec that keeps your books clean, visit https://www.rightrev.com/CJRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjEY works with high-growth tech companies to navigate the messy realities of scaling—from regulatory requirements to IPO readiness. By helping teams get it right early and often, EY lets founders stay focused on building while reducing risk as they grow. Learn more at https://www.ey.com/techstartupsSpendHound is a SaaS spend management platform built for finance and procurement teams that want visibility and leverage in every deal. By tracking all your software, benchmarking pricing across thousands of vendors, and surfacing contracts and renewals, SpendHound helps you stop overpaying and negotiate with confidence. Trusted by teams at ZoomInfo and Hootsuite. Get started at https://www.spendhound.com/cjBrex is an intelligent finance platform that combines corporate cards, built-in expense management, and AI agents to eliminate manual finance work. By automating expense reviews and reconciliations, Brex gives CFOs more time for the high-impact work that drives growth. Join 35,000+ companies like Anthropic, Coinbase, and DoorDash at https://www.brex.com/metrics—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/paulstansik/Company: https://www.parkergale.com/Hello Operator: https://hellooperator.substack.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Is a weekly martini ARR? | with Dave Kellogghttps://youtu.be/Yb1lUQLJ6qw—TIMESTAMPS:All verified. Here are the timestamps:0:00 Preview and intro2:27 Parker Gale and Paul's role3:52 Topic: how CFOs build a better sales engine6:21 1: Make the budget mean something8:11 Budget segmentation and cleaving the business10:54 Sponsors — Aleph | RightRev | Rillet14:08 2: Help emphasize forecasting17:23 Forecasting as non-threatening co-construction19:37 Sponsors — EY | SpendHound | Brex23:06 3: Lend a hand with data and metrics25:32 Walking sales through NDR levers27:16 Metrics tied to exit readiness28:00 4: Get involved in a few RevOps spots29:04 Pricing, proposals, and quoting31:22 Kill your SKUs32:51 Selling with certainty: quote formatting34:26 CFO letter for enterprise deals37:37 5: Build a great relationship with sales37:59 You can't fix a secret39:23 EQ over IQ for finance leaders40:41 Recap: all five tips42:11 Credits#RunTheNumbersPodcast #CFO #SalesStrategy #FinanceLeadership #RevenueOperations
Updated re-release. A year ago we left one question unresolved. Where do foundational AI models end and where do the applications begin? Nick Tippmann returns in a fresh epilogue. A year on, the tension has only sharpened. Specificity is the differentiator when inches matter. Nick Tippmann, founding partner of TipTop VC, explains how vertical AI is rewriting the software industry by going deeper instead of wider. From the transition beyond SaaS to the gray zone between foundational models and high-stakes applications, we get into how vertical AI can transform laggard industries and why Austin might lead the race.The Agenda00:00 Defining vertical AI05:07 Where general AI fails09:36 Vertical AI software, not just chatbots16:44 Pricing logic after the seat model24:04 Underwriting at pre-seed and seed 27:20 Capital intensity and seed-strapping36:48 TAM analysis and the Frontiers Market example41:46 OpenAI's Instacart hire and the gray zone45:55 Austin as a vertical AI hub58:21 Epilogue: Where the models end and applications beginGuest Links and BiosNick Tippmann, TipTop VCNick Tippmann is the Founder and Managing Partner of TipTop Ventures, an early-stage venture fund focused on Vertical AI. Before becoming an investor, Nick spent nearly a decade as a founding team member and CMO at Greenlight Guru, where he helped scale the company from zero to category leader with more than 250 employees, tens of millions in ARR, and a nine-figure investment from JMI Equity.An operator turned investor, Nick now partners with founders building industry-specific AI and software businesses, bringing hands-on experience in go-to-market strategy, scaling, community building, fundraising, and company development. He has also been an active angel investor since 2021, with more than 100 startup investments. -------------------Austin Next Links: Website, X/Twitter, YouTube, LinkedInEcosystem Metacognition Substack
The Great Talent Redistribution: Where is Talent Actually Going in 2026 and beyond? Is the start-up compensation model broken? How about big Big Tech? How about non-tech small & medium businesses? What is happening to talent, going forward? This and many other topics in this episode of Tech Deciphered. Navigation: Intro The Broken Contract? The Great Unbundling The Three (?) Destinations Alternative Cap Tables, Alternative Compensation Models Investor Landscape Fragmentation Operator Playbook and Predictions Conclusion Our co-hosts: Bertrand Schmitt, Entrepreneur in Residence at Red River West, co-founder of App Annie / Data.ai, business angel, advisor to startups and VC funds, @bschmitt Nuno Goncalves Pedro, Investor, Managing Partner, Founder at Chamaeleon, @ngpedro Our show: Tech DECIPHERED brings you the Entrepreneur and Investor views on Big Tech, VC and Start-up news, opinion pieces and research. We decipher their meaning, and add inside knowledge and context. Being nerds, we also discuss the latest gadgets and pop culture news Subscribe To Our Podcast Nuno Goncalves Pedro Introduction Welcome to episode 77 of Tech Deciphered. This episode will focus on the great talent redistribution. Where’s talent actually going in 2026 and beyond? The Silicon Valley deal of the last 30 years, very low salary, stock options, you will either sell for a ton of money or IPO, and everyone gets rich, is seemingly broken. Or is it really? The dominant narrative says the tech middle class is dying. We disagree. There is obviously a lot of stuff going on whereby big tech is partially barbelling. There’s a superstar concentration on the top. There’s a bit of a seemingly allowing of the belly. We’ll come back to that. We don’t quite believe that is totally true. There’s a collapse at entry level. The belly is migrating into three, potentially even more, very different destinations: AI native startups, human-verified premium businesses, and the read the industrialized middle of the S&P 500 and SMB world. Each has its own cap table, each will have its own compensation model, and each will have its own investor profile. In some ways, this is the third episode in our Reset trilogy. We started with episode 75 on the SaaS-apocalypse. We talked about the great private capital reset in episode 76, and now we talk about talent redistributions. Bertrand, exciting times, not always positive times. Bertrand Schmitt Yeah, it’s exciting times because it’s a time of change. Of course, we have the doomsayers. If you listen to Dario Amodei of Anthropic, every white-collar job on Earth is going to disappear. I think I strongly disagree, and I suppose you too as well, we strongly disagree. It’s going to be more of a redistribution. If you look at the history of technology, this is what always happened. We forget how many jobs have disappeared over the past 150 years. We move from a time of 150 years ago. People were mostly in agriculture. Then you had a lot of weird jobs that disappeared from people transporting water to people bringing ice from the pools to people doing the job of computers. People forget that computer was a title given to human beings. We’re doing calculations. Then, of course, secretory jobs in the ’80s, ’90s, where suddenly anyone can type using a word processor, the rise of Excel, that sort of stuff. Many things have changed. Some jobs have indeed disappeared. Some jobs have totally transformed. Where you do these jobs have changed. I think we are at a similar stage where, thanks to AI, and I would say for now, or at least the rise of AI coding, there is a dramatic change happening. I don’t think it means that people will be without a job. It just means, from my perspective, that jobs are changing. You are not just doing a lowly coding level task that actually indeed could be replaced, but you are going to have more of builder type of mindset, a product manager type of mindset going forward. We also expect that the distribution of jobs, depending on the type of business, will be quite different. Nuno Goncalves Pedro The Broken Contract? Maybe let’s reset a little bit to the broken contract, or if it’s really a broken contract. There’s been this image in technology and tech that basically you get paid very little to work in tech. You get a bunch of stock options. The earlier you are in the company, the higher the level of stock option grants you get. Then you make a ton of money at some point because the company will either sell or IPO, and that’s heard of it. Obviously, there’s a lot of movements happening right now that are changing how these dynamics work. The first part is obviously AI, and in some ways, AI is shrinking companies. It’s not unheard of that companies with as little as four or five people reach 50 million in ARR. There’s companies with one person that have gotten bought for hundreds of millions of dollars or billion of dollars. Obviously, things are moving very, very fast, and therefore, there isn’t a large employee cap table. How would you share the upside? Would you actually give a couple of percentage points to an early employee rather than your 0.2-0.5% kind of thing for early employees? The second part is a little bit the other side of the table, which is the IPO market is seemingly in a drought. There’s not much happening in IPOs. Maybe 2026, at some point, there will be an unlock, but right now, it’s seemingly difficult to get your upside. Even if you’re an employee, you have to wait a long time. The median time of IPO has climbed over 10, 11 years, the longest in over a decade. Basically, not only you have to wait a long time as if there is an IPO drought, like we might be going through right now, when do I actually get my cash back? Unless the company gets bought, maybe there are secondary transactions along the way, maybe there’s something else. But obviously there’s a little bit of a reduction and lowering of the upside seemingly for this contract and for this place. The easy conclusion that I think many are taking is, because of all of this and all the layoffs that are happening, even in big tech, that serve the tech middle class is dying, that basically AI screwing the workers, et cetera, there’s also a lot of discussion that even it might be affecting the entry-level jobs as well. Everyone coming out of undergrad right now can’t get a job, et cetera. There’s this doomsday scenario that you’re alluding to that everything is changing. We have a slightly different perspective. We think there’s a realignment of market. In layoffs, there was a lot of layoffs that were warranted. Big tech, in particular, had actually hoarded a lot of engineering capacity over the last decade or so. There’s a little bit of a realignment that needed to happen in any case. When everyone’s saying, “Well, AI is compressing everything,” well, it’s compressing right now, but we don’t think actually it’s going to compress over time. You’ll still need engineering and science talent to come on board for you to be able to scale up. It’s not like AI is going to take care of everything and teams are going to be five people for companies that are worth a trillion dollars. That’s not happening. Today’s thesis, I think a little bit of this doomsday scenario needs to be seen with a more nuanced lens. I think that’s how we’re framing today’s episode, that there’s a bit of a nuance, there are some extremes happening. We’re going to talk about those extremes, but ultimately, it’s not quite as simple as saying that the tech middle class is disappearing in early jobs are going to be a thing of the past. Bertrand Schmitt At the same time, what you started with is true. I mean, that 50 million ARR company, just five people. At a bigger scale, that’s exactly the matrix for Anthropic. They have reached a stage where they are at a range of 12 million ARR per staff per employee. It’s metrics that are definitely never seen before. I don’t think any company raised to this level. Best in class, best run companies, one, two million per employees. I mean, that was your target if you can make it. We are definitely in a different game. But I think what matters at the end of the day, and that’s what we’re arguing, is that you have to see the big pictures. Yes, some positions might disappear inside some companies, but some other positions will be created in other companies. Usually, what people do is keep talking about the jobs who disappear and not looking at the bigger picture of jobs that are being created as well. What is true, and I think you alluded to that, is that the big tech the past 10, 15 years had some strategy of hoarding talent in a war where having the best talented people will make the difference in numbers, will make the difference between winning or losing. The Google of the world, the Microsoft of the world, the Amazon of the world, they were hoarding talent. They would try to make sure that they might not have such needs in talented number of people. But if they have the talent, it means their competitors didn’t have the talent. It means that the startup trying to reach scale couldn’t pay the giant salaries that the Google of the world were paying. There was definitely some hoarding. But it went so far in the 2020, 2021, that I think since then there has been a coming back to normal. There is also now in 2026, the recognition that it’s not true anymore. Yes, talent can be very valuable, but there is now a bigger and bigger gap between the extremely talented versus the rest that are merely talented because of AI. AI is able to replace at scale your software engineers, your software managers. I would say it’s quite new. I don’t think it was true a year ago. We’re really talking about a recent dramatic change in what can be achieved thanks to AI. We can see most of the big AI companies are moving to coding. It was started by Anthropic as a trend, OpenAI has followed through. Obviously, the Cursor of the world existed before, but they were not as successful. All the Chinese open-source models are moving very fast to coding optimization the past few weeks. It’s quite an incredible change. I think there is that dramatic change, recognition that coding can be done differently. As a result, we are going to see change in the distribution of jobs. I think it will start from the top because we see the news of the big Google, Microsoft, Amazon, and others who used to hold talented software developers to a change in realization that no, we actually need to invest in AI. We need to invest in compute because compute is going to do the job of most of these people. Therefore, we can’t pay for both at the same time, even us with all our money, we cannot. Wall Street is not going to let us do that. They start by removing a lot of position. I think we see that accelerating, quite frankly. We have only seen the beginning, but in the next 2 years, we see a dramatic shift. But I think my position, I guess yours, and you know as well, is that there will be a lot more opportunities created as well, probably by also entities. Nuno Goncalves Pedro The Great Unbundling Yeah, there will be more opportunities created. The hoarding is just taken also a little bit of a different view. To your point, there’s hoarding of resources, compute, et cetera. But there’s also hoarding of top talent. We are seeing people getting paid, packages all in that could run up to 100 million, in some cases even over 100 million over several years. This is unheard of. I mean, an officer of Meta would make, I don’t know, maybe 20, 25 million a year. It’s like now there are people that are on the top end of AI researchers that are getting paid around that amount just to join some of these companies. There’s a little bit of a different hoarding. It’s very selective hoarding of certain talent. We’ve seen some acqui-hires. We’ve talked about it in previous episodes that are just literally about getting one or two people specifically to come on board. Alexander Wang, again, going to Meta to lead their intelligence labs there. I feel, I don’t know what you feel, but I feel this is a transition moment where there is overpaying for certain talent on the top of the market. At some point, this will stabilize. You can’t keep paying people 100 million over 4 years or something like that across the board. To your point, a lot of this is actually going to scale up quickly also on the AI side. There’s a little bit of a different hoarding happening on the top end, not just the resources, but also of people, which seems to give further this notion of barbell, that there’s two extremes, the haves and have-nots, the super-duper talented people that get paid a ton of money, tens of millions of dollars a year at the very least. Then the emptying of the middle where there’s a ton of tech layoffs going on in some ways, the belly, as they would call it, is being expelled. The middle market, the managers are being fired because there’s nothing to manage. There’s a lot of positions going away. In some cases, you might keep some of the more junior talent, but with a little bit of experience. But even the talent coming out of colleges is not getting hired either. It’s a little bit of a weird thing where there’s hoarding at the top, there’s an emptying of the belly, the middle, and then the early, early, early is also not getting recruited. It’s like what gives? How is this going to look in the future? I agree fully with you, Bertrand, that there’s a migration of this talent, not only to other companies, but also to other jobs. There will be new jobs that will emerge out of this. The DevOps, dev tools market didn’t exist until maybe 20 years ago at scale, and it got created. In some ways, we’re seeing there will be new markets, there will be new roles and new jobs that will be created around engineering teams going forward. We can’t anticipate all of them. But basically, the emptying of the belly is true as it’s happening right now. The low hiring on the early and the top end, getting tons of money. We think this is a transition to something else. There’s the hoarding of engineering in general is coming to an end at momentum. Now it’s time to rightsize teams, to get the right at the table, et cetera, and start figuring out what works and what doesn’t work. We’ve already had some horror stories coming out even from Amazon where they were breaking systems with their use of AI tools, and I’m sure it’s happening across the board. I’m on a board of a company and been tremendously affected by Meta and its algorithms, where basically because of advertising, there have been people served with ads for this specific company where the ad doesn’t match the company, so basic stuff like that. It’s been actually very, very difficult because in some ways, the company goes back to Meta. It’s like, “Hey, dudes, you guys are serving ads that are not even our ads with our copyright and stuff. How does this work?” They’re like, “Oh, it’s AI.” It’s like, “Well, it’s AI but can you give me my money back?” They’re like, “No, we won’t give you money back.” This creates huge issues for companies, for example, that are very dependent on advertising, which obviously there’s a lot of industries that are. They’re actually in production systems at scale. Meta is, I think now, the largest digital advertising in the world. I think they outgrew Google in one of the last quarters. Basically, this has a tremendous effect that systems that are in production at scale are getting inputs and changes driven by AI tooling, and somehow nobody can say what the hell is happening. Again, there will be a reckoning, there will be a redistribution, there will be a rightsizing of teams and an adequacy of teams going forward. I personally think this is a transition period. Bertrand Schmitt I think we are moving from hoarding or software engineering to hoarding the top of the top scientists in AI and hoarding of GPUs, GPUs/data center. For me, it was quite interesting to see the deal of Cursor with xAI, where basically they couldn’t get access to computing resources to run their model. But xAI had, I forgot the exact numbers, but close to half a million GPUs that no one, I mean, “no one was using” because their services are not so successful yet in terms of AI chatbot and the like. Basically, suddenly they are like, “You know what? We control access to resource.” But the new resource is, again, a mix of extremely talented AI engineering or AI scientists versus GPUs/data center. There is this race of controlling boss and everything else is going to be collateral damage. Some examples, I think, are quite interesting. You talk about some example of Amazon, even some production issues. I remember reading a quick post-mortem of one of the issues, and the conclusion was it was AI, definitely part of the issue. But the other part of the issue was AI used by junior engineers. For me, it’s interesting. It shows that actually junior plus AI is actually a danger zone. That’s why many companies are going to be way more careful. “Why do we need the junior people if they are just playing with fire?” I think we go back to that situation of barbell, as you call it. The top talents are extremely valuable because they know how a production system works. They are here to develop better AI systems. But the junior guys playing with fires, yeah, maybe it’s cute in startups, but in a big time production environment, a different story. Nuno Goncalves Pedro There will be a barbell with top-end talent super-mega paid and then mid-level talent that is individual contributors still doing a lot of great work, et cetera. Along the way, a lot of emptying of entry, a lot of emptying of the middle. Where does the talent go? The Three (?) Destinations I think we could say there’s three destinations for this talent. Maybe there’s four, maybe there’s more. Three that we can immediately identify. One is the AI native startup piece, where we have smaller teams that potentially get to a lot of revenue or top line over time, and where the Series Seed is the primary round, where we’re seeing Series Seed being raised of tens of millions of dollars, actually even hundreds of millions of dollars in Series Seed. In some ways, the stars there can get incredible compensations in terms of stock. They will stay for private and selling in secondaries later down the road because there’s so much capital at the table. Actually, in some ways, salaries are very high as well in some of these companies. It’s not like you’re trading off anything. You can get paid a lot of money. If your company at Series Seed for 10 or 15 employees has raised 50-$100 million, you can pay great salaries. In some ways, this is the extreme destination. The AI native startups that can make it is the extreme destination. Now, there aren’t a ton of AI native startups that can raise 50-100 million to 400 million in Series Seed, just to be clear. There’s a handful of hot deals in that space, but that’s one clear destination for top-end talent going through that. In that market, I think that’s one of the destinations. The second one is more what we would call the human-verified premium. It’s more of a play of companies that has still the need of human in the loop, either in terms of development, also in terms of activity, either because go-to markets are very intensive, and so therefore you need to have sales forces, partnership teams, et cetera. Or on the engineering side, it needs to have a lot of customization, integration. Companies are not just going to the, “Oh, you can come in and just apply your AI tooling and somehow magically the systems all work.” there needs to be quite a lot of and work and high touch work in getting stuff done. A significant part of that market, I’m not sure, is super VC investible. Maybe it’s a hybrid of private equity in VC, more PE style in many cases. It’s a PE-hold, sell to someone else market. As we’ve discussed in a previous episode on the SaaS-apocalypse, that hasn’t quite worked out for PEs. Question marks on how that human-verified premium market is going to evolve. But obviously, there’s a lot of work still to be done there, even on the engineering and science side. That’s the second potential destination. Then the third more aggressive destination is the reindustrialized middle companies that have a lot of specificity in going after small and medium businesses, local or regional affectations like ERPs or CRMs for specific markets, et cetera. Those are the three natural destinations. I would add the fourth, which is big tech. I mean, big tech doesn’t magically disappear, and I don’t think it fits neatly into any of these three markets. In some ways, big tech is now looking at the extreme for top talent a little bit like the AI native startup because they can pay. They can pay the 100 million every four years, et cetera. I do think it will typify taxonomically into a fourth type emerging, where, as we discussed, you’ll have top-end individual contributor talent. You’ll have the absolute top-end of the market because they can get paid. Then you’ll start having the emergence of earlier talent that is highly capable, et cetera. That will go back to a bit of a normal distribution in terms of talent on big tech. For me, those are the four destinations that I would put at the table. Bertrand Schmitt For me, big tech moving to big tech, I’m not sure if it’s really a destination. I mean, yes, in some ways it’s a reshuffle between the big tech companies. They are definitely all fighting in some ways for some of the same people. I can see that dramatic shift where big tech has to remove a lot of positions in order to replace by AI. Again, I think at this stage, it’s mostly driven by AI coding. We are still at the beginning because this is brand-new phenomenon that AI coding is so successful at its task. I don’t think it was true even 6 months ago. Some companies, take Anthropic, take OpenAI, are definitely there or close to be there in terms of no more writing of a single line of code by a human, zero. This is, again, 6, 12 months ago. Not true. But now it’s true in a few top companies. Take OpenClaw as well, most successful GitHub project of all time, not a single line written by its author. It would have been impossible. We’re talking about hundreds of thousands of line of code in a few months. It’s impossible to achieve that manually. If you look at the other big tech companies, the Google of the world, the Meta of the world, the Microsoft of the world, they are absolutely not there yet. They are going to be there because they have no choice. It’s you either go fast there or you die. You are not going to be able to survive competitors that are shipping 10, 50, 100 times faster than you are shipping. It’s a life and death situation. All the big tech companies are going to move, and mark my word, in the next 2 years from 10, 20% of AI-written code to 100%. During that transition, the next 2 years max, if you don’t do it in 2 years, you are going to die. Your stock price is going to crash. Then, of course, you will have to make changes. You will have to invest more in GPUs. You will have to invest less in your standard typical software engineer employees. Like you, I’m very optimistic that there are new buckets. AI-native startups definitely will be there. It will be transformational. Human-verified premium, very interesting category. In a way, it will be businesses that are inevitably less scalable through AI, and there is definitely a spot from there. I think the biggest would be the reindustrialized middle SMBs. Most of S&P 500 type of business are going to dramatically offer new software opportunities, new opportunity story to talented software employees because they will need to implement AI in everything they do. They will do it. They will need people who have software engineering knowledge in order to implement these systems. For them, what’s changing dramatically really is that thanks to much cheaper cost as thanks to AI coding, a lot of software projects that they couldn’t afford to do, that they couldn’t imagine doing by themselves, they are able to do it. They will invest in a lot more software capabilities than ever before. That will be a big game changer. And software, very tuned to their business model. There might be less buying of your traditional off-the-shelf SAF software and a lot more investment in a highly custom software by their own team, assisted with AI. I think that would be the part that is most transformed by all of this in a positive way. Nuno Goncalves Pedro Alternative Cap Tables, Alternative Compensation Models This will lead to a very fundamental shift, right back to the broken contract. What does the new contract look like? It looks like alternative cap tables depending on which bucket are you transitioning into. If you’re going into your AI-native bucket, and you’re a top-end talent, you’re like, “Dude, I’m worth 100 million over 4 years, so just compensate me accordingly with a mix of options in the company plus my salary.” If you’re top 1%, you can probably get away with salaries that you’d get anyway at mid-level from 300K, 400K and above, and you can get actually a lot of options already in the company. A lot of this is happening right now. There’s a premium for AI, we know that. There’s a premium for AI at the top end of AI researching, in particular on companies that are doing hardcore research on staff AI engineers, so companies that require actual AI engineering. There is a premium that is significant. It could be as high as 18% over non-AI peers, and it widens actually with seniority, shockingly enough. This is more of an average than anything else. Now, for me, and it’s for debate, but the perspective is this extreme comp will need to compress at some point. There will still be the haves and have-nots paid much better than the have-nots, so to speak, but there will be a compression. The variance can’t be the variance we’re seeing today for absolute top-end talent. That said, there will be variants. We know that big tech for over a decade, decade and a half, for example, in the Bay Area, has been paying a lot of money for director and above levels that used to be the VPs, so a million, a million and a half a year, all in compensations. It’s not unheard of that this will actually increase after this stage. That said, I do think that the compensation extreme that we’re in will get diluted down the middle. It will actually come down at some point. It’s part of where we are today. As we know, it is still a bubble. Bertrand Schmitt Yeah, it’s an interesting point. I think it’s possible. At the same time, that compression coming 2, 3, 5 years. At the same time, we have examples where there is no such compression. Take the top sports players in the world, golfing, basketball, NBA players. There has not really been any compression at all. For me, it’s interesting. If you look at the big tech companies, each being one of this top NBA team, why would such compression happen? As long as they are competing against each other and generating plenty of cash, I think there will be some fair question. We will see. I don’t have a strong opinion, but for me, it’s not a total given. Nuno Goncalves Pedro For me, the shocking thing is the faster AI becomes better, the more that compression will happen, because at some point, it’s like, why do you need the top talent as well? I don’t know. It feels like you’re trying to evolve a system that’s there to replace you. It’s like, “Okay, I’m getting paid 100 million over the next 4 years”, and then you develop something that’s so good that replaces you. Thank you. That’s cool. Bertrand Schmitt That’s a total possibility, yes, because we are in that very unusual market where the game is to only replace yourself and people like yourself. At some point, it is a possibility, I guess this one. Right now, we’re talking about replacing your “average software talent”. In 2 years, could we absolutely replace the absolute best top experts in the world? Probably. I think it’s just that at some point we’ll be reaching the stage where we strictly have no control anymore on our AI systems because no human is able to challenge and understand what’s produced. It’s not just a question of scale anymore. We’re talking about a gap in IQ, basically. Nuno Goncalves Pedro Exactly. It will happen at some point in history. We don’t know exactly when. For the second bucket, the human-verified premium bucket, it’s difficult to see how an HVAC company or an HVAC roll-up of scale or a regional health care platform or high touch go-to-market, B2B, SaaS play, et cetera, for a vertical will compete. At the same end, they have to compete and they will compete. There will be more and more jobs, we believe, for engineering talent in these companies. They’ll have to be more and more AI-enabled themselves. The cash salaries will have to be competitive within the local markets, not necessarily with Silicon Valley. There will be potentially profit sharing and revenue sharing and actual dividends played at the table. The model there on the cap table needs to change a little bit, needs to be probably propped up more on salary and on some way of doing profit sharing or actually having dividends paid to employees and figuring out employee to equity in a more aggressive manner. This is the market that probably was already very attacked, so to speak, or let’s say, occupied by private equity firms. There are still obviously part of that model that would work well. There needs to be a fundamental shift, certainly on the quantum of salary compensation, dividend compensation, profit sharing, and all of that. Then last but not the least, obviously, we had the bucket around basically the reindustrialization of the middle, so everything else, which will take most of the belly that we were talking about. This is probably a poor analogy, the belly fat. It’s not belly fat, it’s people that were doing their jobs that now are getting disrupted. In some ways, that bucket will absorb a lot of that belly, will absorb a lot of talent. The small and medium businesses that Bertrand was saying will need to crucially become more AI, software-enabled by themselves, even with some core stuff and underpinnings that actually might not even require AI in terms of infrastructure platforms. There, you need to get properly paid. Again, how many people do you need in your engineering team if you’re a small business? Probably not a lot. It’s maybe you need one or two people and that’s it. They’ll need to be very nicely paid because they’re running the stuff in the rails. This is probably a market that over time, as AI gets more and more competent, will also be disrupted, but let’s not talk about the disruption to the disruption because otherwise, we’ll stay here the whole day, but certainly a market that has a lot of potential to shift and to absorb a lot of the moments that we’re seeing in terms of layoffs happening in the US in particular. Bertrand Schmitt This category was a category that historically could not compete with Silicon Valley salaries, could not attract the most talented engineers. It’s not a category that didn’t want to bring these people on board. It’s a category that just couldn’t afford to bring this talent on board, typically. I think it would be a dramatic shift for them when suddenly there are opportunities to hire these people. There is an opportunity to hire them at maybe more reasonable prices from this company’s perspective. You talk about small companies, the great thing is that there are millions of small companies at some point. I think things could be truly transformational. Of course, some of these engineers, software engineers, might decide to become entrepreneurs on their own. Solo entrepreneurs, small businesses, build their own, easier to build their own product to market so to serve other companies. I think there will be quite dramatic changes because not all companies will be disrupted by AI as much, but not every company will benefit from improving processes, improving software through AI. At least early on, you will need this human touch to make it work inside a business. Interestingly enough, I was hearing that some companies like IBM were hiring more younger people to do the work of going to the client, understand their needs, propose implementation plans. That forward deployed engineer, those positions, I think there will be more and more available. Nuno Goncalves Pedro Investor Landscape Fragmentation What happens to investor into the landscape? We already had an episode, the previous one, Episode 76, where we talked quite a lot about the big capital reset on the private equity and private reset, including venture capital. Just maybe to summarize, how does it align with the buckets that we’ve just been discussing? I think the AI-native bucket clearly is going to be the key bucket. There, we’re going to see two movements. One movement, which is the mega funds, as we discussed in the last episode, are no longer just VC funds. They’re really mostly multi-asset private equity funds, maybe even private equity hedge funds in some cases. Those funds will be all over the high-growth AI-native companies and will be pouring money into companies that are scaling really, really quickly. The early stage, so to speak, VCs, the actual VCs that will stay in the market will be the guys probably identifying the next big wave of AI-native companies. We’ve discussed that as well in the last episode, some research that we did at Chamaeleon that I shared in episode 76. We’ll see that as emerging. What happens to the second bucket, the bucket around human premium, human in the loop? Likely we’ll have more and more private equity capital going into it and the large-scale VC guys, the Thrives of the world, they’ve just announced Thrive Holdings, and others going after those markets as well. It’s trying to converge into the private equity market, which aligns with the point we made in the previous episode that the VC mega funds are no longer VC, that they are private equity, multi-asset class. They’re going after a bunch of things. There’s a conversion happening from VC into private equity. It was going to happen anyway because the private equity guys were coming into VC as well and the hedge funds were coming to VC as well. There’s a convergence in the middle of very, very large funds and large assets under management happening to go after some of these opportunities, certainly in Bucket B. Then this Bucket C, so to speak, the bucket of reindustrialization, as Bertrand was saying, very well, likely will be self-funded for a significant period of time. Will self-fund with their own cash flow. Doesn’t need to have a ton of capital intensity. Maybe you need one or two engineers to do stuff, but that’s it. You don’t need tons of capital. You didn’t need in the past, you won’t need it today. Not sure there’s going to be a fundamental shift to that market. Bertrand Schmitt Yes, I certainly, overall, agree with you. That last pocket, probably little change to the capital and capital structure. Again, I see that as the biggest opportunity for a lot of people who might be less needed by big tech and also top tech companies. What is sure for the first category, the high native startups? I would say more overall in the VC ecosystem, there is no space left for SaaS anymore. I think SaaS, as we used to know it, is dead in some ways in the sense that new pure SaaS software startup are definitely out. Existing ones that are critical to run your infrastructure, the Salesforce of the world, I think they’re in a decent spot. Actually, interestingly, they changed their pricing model to now sell to AI agents, not just per seat. There is a change in pricing there. But this day and age of funding a pure SaaS software startup through VC money, no way. VC money going to AI-native startups, AI-focused startups, to biotech, to deep tech, to defense tech, yes. SaaS as a fundable category early on, I think it’s over. Nuno Goncalves Pedro I’m a bit more nuanced as we shared in The SaaS Apocalypse episode. We can call it whatever we call. It’s applied AI is the new SaaS thing. Horizontal applied AI is the new horizontal SaaS or vertical applied AI is the new vertical SaaS. I agree in common with your point that very specific point solutions around SaaS will be disrupted by nature with all the easy stuff you can do today with AI. It will take a while. This is not something that’s going to happen this year. It’s going to happen over the next years. Maybe interesting to also talk about the exit markets. I think the IPO market, as we’ve also discussed in the past, there is, in my view, going to be a reopening of the IPO market, I think this year, probably later in the year, third or fourth quarter. The median time to IPO actually is going to be really weird because there’s going to be potentially some companies in the current landscape, bubble or no bubble, that are going to IPO, the OpenAIs of the world, Anthropics of the world, et cetera. There will be more and more aggression, I think, on M&A. Big tech has already shown it, that they want to buy into markets. Large non-tech companies have also started doing acquisitions in space. To prop up their IT teams, their engineering teams with this world that we’ve also discussed in previous episodes that I’m going to own my own engineering stack for now. As we see, that normally doesn’t withstand the test of time. At some point it will get unbundled and served by someone else. Then finally, the secondary market is very hot right now. Obviously, there’s heavy discounting on some areas, high premiums on others. The exit market, strangely enough, is going to be propped up, in my opinion, over the next year to 2 years, dramatically. Then we’ll see if there’s a big reckoning around the bubble that we are clearly in or not, if it’s a soft landing or hard landing. Definitely, there’s going to be a lot of exit paths over the next year to 2 years. Bertrand Schmitt Concerning the “bubble”, I have two perspectives on this. One is it’s a bubble in the sense that money is going to a lot of players and some players are going to blow it up. There will be a concentration of players at the end, like it usually happens. If you look at, for instance, long time ago, the railway revolution, there was that intense influx of capital. At the end of the day, there was a dramatic change in transportation in the US and a complete railway system put in place. Yes, some investors lost money, some companies went bankrupt, but the transformation was fully real. There were a lot of top leaders at the end of this revolution. The change after that only happened, we guess, post-World War II, with the construction of the highway system and the rise of airlines and plane transportation overall. Here I feel it’s similar in the sense that, yes, there is a lot of money going in. Some players are going to blow it. They will misuse the money in different ways, but that’s part of dynamic allocation of capital. Of course, you make mistakes. That’s what happens. At the same time, I feel it’s a similar level in the sense of this is a dramatic change in the US infrastructure. This buildup of AI data centers filled with GPUs, integrated at scale with some of the best software in the world and running it, supported by a dramatic shift in energy infrastructure. This is for me similar to the Railroad Revolution. Some players might not own the data center they build because they didn’t manage well their debt, they didn’t manage to run proper software. You know what? They will get acquired by somebody else. I think we are at this level of fundamental transformation. The fact that in a matter of maybe 2 years, the move from 0% of code written by AI to 100 % written by AI is an insane dramatic shift. Just to be clear, when you move from manually coded to AI coded, we’re talking about a 100X difference in terms of speed at similar, if not better level of quality. The shift is dramatic, and on top of it, you don’t pay salaries anymore to achieve that. You pay CapEx, and with GPUs and OpEx with electricity. It’s a very big shift, positive shift in business model. New unions, no management over it, AI working 24/7. Personally, I think for me, bubble has a bad connotation in the sense of it was all for a waste. I don’t think it’s all for a waste. I think we are witnessing a dramatic revolution of our lifetimes, quite frankly, bigger than SaaS, bigger than mobile. From my perspective, it’s exciting times. Nuno Goncalves Pedro Operator Playbook and Predictions Let’s move to if you are this person, what would you do in the future? Let’s start with two extremes and go from there. One is you’re non-tech, so you’re not an engineer, et cetera. You’re trying to figure out, how do I scale my activity? Maybe physical labor is where I want to go. It’s not, “Go west” anymore. Definitely not necessarily go west. You should go to, I guess, the states that have no sales tax with very cheap energy because that’s where the data centers are being built if you want to be in that market. Obviously, there’s a lot of stuff that needs to be done: HVAC, electricity work, et cetera. Don’t go west. Go low sales taxes, low cost of energy. That’s likely where the data centers are being built. You probably can just follow. There’s, I’m sure, some way for you to follow where the data centers are being built, but that’s next, I think on that extreme of the table. The other extreme of the table, let’s say you are super ambitious, maybe you’re no longer an engineer, but you’re a product manager in your prompt engineering. You could do prompt engineering all day long. You’re 28, 29-year-old superstar. What do you go and do? Likely either you start your own thing, start your own company because you’re so good at prompt engineering, you probably can do a lot of the code yourself, particularly if you have an engineering background, or you go and join very early an AI-native startup that you think has the chance of going through the roof, and you take a pretty good salary early on, a ton of upside on the company because guess what? Companies like that need product managers. They need people to figure out UX, UI. It’s not going to be, at least for now, yet AI figuring that out for you. Those are two extremes, just to give two of the extremes, like engineering, product management persona, and physical labor at the other extreme, non-tech, et cetera. Bertrand Schmitt In some ways, every software engineering job is going to become the equivalent of a software engineering manager or a product manager, because suddenly you don’t have to do the coding anymore. You’re managing AI that is coding for you. Either you start to have some manager hat, but we saw the humans, so it’s a very different type of manager, obviously, or you are going to be really an empowered product manager. You’re skipping the middleman. You’re skipping the traditional engineering organization because your engineering organization is AI running and doing the work for you. I still believe that it requires some serious skills. I don’t believe in the vibe coder type of value proposition. I don’t believe in the prompt engineer becoming suddenly super incredible, able to manage that. I still think it requires some serious chops to do the best from all of this and to do it in a safe and sane way. It’s very easy to have poor taste, make mistakes. I don’t know you, but keep reading these stories on the heads of companies who lost everything because of the AI agents. That deleted stuff in production, and they had no backups or the backups weren’t deleted as well. Crazy situation. You cannot run companies like this if you let your agents running wild. You could argue it’s the early days. I would argue it that that issues would be there for a while. You need to have some engineering discipline at core in the company running the business to make sure things don’t go sideways because it would be easy for things to go sideways. Nuno Goncalves Pedro I totally agree. If you’re thinking, Oh, should my kid go into science and engineering and computer science, et cetera? Absolutely, still, because of everything that Bertrand just said. You need to understand actually what code does and what technology does and what all of that does. That’s still a skill of the future. It’s not a skill of the past. In some ways, it’s still a skill of the future very much. Maybe let’s try two more extremes. Around the same level, the person that decided to do an AI native company bootstrapped initially, having difficulty raising a mega round, but could probably get away with raising a 2-3 million seed round, et cetera. Is that still viable? The answer is yes. There’s tremendous capital efficiency right now happening in the market still, 10 plus higher than if you were doing a SaaS company, and you were a founder in 2019 or something like that. That capital efficiency is going to reverberate. You can run a tighter team, smaller team. Actually, you don’t need that many salaries. If you’re a decent engineer as a founder or if you understand enough as a product manager to just generate that code, you can do a lot of stuff yourself, can bring in maybe one or two technical elements to the team early on as you would have done if you were bootstrapped anyway. There’s obviously a path for that. The other extreme is you’re in big tech, you’re level five, individual contributor, making a ton of money, or you were a manager, and you’re now out of a job, where do you go? You can go to a big company that is non-tech, S&P 500 company that’s non-tech, something like that. You join the company, you’ll probably get paid pretty well, maybe not as high as you were paid in big tech. There’s some stock at the table, but guess what? You’ll have probably more work-life balance than you ever did. That’s the trade-off. You’ll have a better job. On the upside, you can transform the company. You can help and be part of transforming a company from non-AI to AI-first or AI-enabled in the future, whatever BS that will look like in terms of the argumentation to the board. You can actually create tremendous productivity enhancements in a big non-tech company if you come with that background. Again, you’ll have certainly a better work-life balance, so not a bad deal, to be honest. Bertrand Schmitt Also, to be clear, I talk a lot about AI coding because it’s truly transformational. You could argue that it’s going to be self-improving. We are in the situation of a self-improving AI that keeps improving itself thanks to automated coding. It’s a dramatic, virtuous loop. Obviously, AI is also going to improve everything else. It’s going to improve your marketing, it’s going to improve your search process, it’s going to improve your DNA. Improvements will be everywhere. It’s just that right now we are at a point in the quote-unquote revolution where there is one clear piece of the puzzle that is moving faster than the rest. Nuno Goncalves Pedro Bertrand, the senior executives at non-tech don’t know anything about that. It could be just a great prompt engineer. That’s the only job you do. “I’m the chief marketing officer. I have someone below me that’s doing the whole work.” Nobody knows. Nobody’s the wiser, I guess. I’m being facetious, but not fully. Bertrand Schmitt Yeah. There would be a transition period where what you described happen. I want to say, going back to AI coding, I think that the part of AI that as of today has reached a stage of limited AGI. We have reached, from my perspective, a limited type of AGI for coding. If you take coding as a discipline today, I think we reach AGI. If you go beyond coding, that’s true. If we are talking about coding, leveraging the latest LLMs: OPUS 4.7, ChatGPT 5.5, combined with Claude Code, Codex, and OpenCode for harness, I think we’ve reached AGI in the context of coding. I’m not sure everyone fully realize that and the consequence of that. I think the rest is going to come as well. We are going to see that category by category, usually categories that are more scientific in nature, where you can replicate, where you can test easily, where you can create clear success. Metrics will be the “easiest” to follow in that direction of self-improvement. I just want to highlight that this part is truly transformational, the root cause of everything we’re talking about today. At the same time, it’s coming beyond coding. Nuno Goncalves Pedro I think it is true. There are a couple of markets where that might not hold true, which is maybe the final path. If you’re thinking of starting your own business in plumbing and in HVAC maintenance and installation, this is a pretty good time for the reasons we already said before. There’s a lot of buildup of data centers and all that stuff, but also for other reasons, because it’s an activity that won’t be disrupted by AI yet. You need them embodied AI. You need physicality to AI to do stuff like actually fixing pipes. Bertrand Schmitt Until Optimus replace you. Nuno Goncalves Pedro Yeah, but if we’re 3, 4 years out in terms of a lot of these optimizations that we’re talking about at the software layer, we’re 10 years plus out on embodied AI, right? Bertrand Schmitt Oh, yeah, it’s 10 years. Nuno Goncalves Pedro We’ll probably be optimistic as we speak. That’s a nice business. I’m thinking of starting to go into that market. If you guys are interested in listening to this, just reach out to me. What’s the angle? I think there’s a lot of stuff you can do in the buildup of some of these businesses, plumbing, HVAC, all sorts of maintenance. There are markets that are just totally messed up. Handyman market in the US is totally messed up. There’s a bunch of companies out there that try to go after it with marketplaces and stuff. I honestly just start something from scratch, a small business, and go from there. Bertrand Schmitt Yes. They’re an interesting middle. Think about accounting firms, consulting firms. I think they are not as easy to replace, but at the same time, there is no way on what they do is not going to be dramatically changed with AI. I don’t know if it’s 50, 80, 90% of the job, but this is changing quite dramatically, would be my expectation in the coming few years. Conclusion Thanks for listening episode 77 of Tech Deciphered about that great talent redistribution. As you heard it from us, we believe there is a dramatic change in play, enabled by AI coding, and that ultimately a lot of the big tech companies are changing their employee distribution, way more focused on the top talents and bringing more GPUs. As a result, we will see a change in their staffing. Some of this change will benefit AI-focused startups, but probably more likely will benefit the bigger SMBs, the S&P 500 companies of the world that will finally be able to bring inside and afford some of the talent that were in some ways trapped by the top 5, 10, 20 software companies of the world. Thank you, Nuno. Nuno Goncalves Pedro Thank you, Bertrand
Depuis un coup de fil qui a bouleversé sa vie en 2009, Amaury da Cunha entretient un lien ambigu avec son téléphone portable... En juillet 2009, Amaury Da Cunha apprend le suicide de son frère par un appel téléphonique glaçant. Dans son roman Touche Fantôme, il retrace le rapport qu'il entretient avec son téléphone et son obsession pour les voix car, dit-il, c'est selon lui « la signature la plus intime de l'âme ». Invité : Amaury Da Cunha, journaliste au Monde des Livres, photographe et écrivain né en 1976 à Paris. Son dernier roman Touche fantôme est publié aux éditions de l'Iconoclaste. Et, comme chaque mercredi, Lucie Bouteloup décrypte une expression bien connue de la langue française dans sa chronique « La puce à l'oreille ». Cette semaine encore, on découvre les dessous de l'expression « Arrête ton char(re) ! » et toujours avec la complicité des élèves de CM2B de l'école Arago, située dans le 13è arrondissement de Paris. Programmation musicale : l'artiste Aure avec le titre Orage.
Depuis un coup de fil qui a bouleversé sa vie en 2009, Amaury da Cunha entretient un lien ambigu avec son téléphone portable... En juillet 2009, Amaury Da Cunha apprend le suicide de son frère par un appel téléphonique glaçant. Dans son roman Touche Fantôme, il retrace le rapport qu'il entretient avec son téléphone et son obsession pour les voix car, dit-il, c'est selon lui « la signature la plus intime de l'âme ». Invité : Amaury Da Cunha, journaliste au Monde des Livres, photographe et écrivain né en 1976 à Paris. Son dernier roman Touche fantôme est publié aux éditions de l'Iconoclaste. Et, comme chaque mercredi, Lucie Bouteloup décrypte une expression bien connue de la langue française dans sa chronique « La puce à l'oreille ». Cette semaine encore, on découvre les dessous de l'expression « Arrête ton char(re) ! » et toujours avec la complicité des élèves de CM2B de l'école Arago, située dans le 13è arrondissement de Paris. Programmation musicale : l'artiste Aure avec le titre Orage.
Daniel Layfield is the Founder of Subscription Index, a consulting and advisory firm that helps subscription and SaaS businesses monetize more effectively. He brings deep experience in growth and product management, having driven more than $100M in business growth with a strong focus on self-service revenue.Previously, he led the growth team at Codecademy, scaling ARR from $10M to $55M prior to its $525M acquisition in 2022. He later served as a product manager at Uber Eats, leading Homefeed ranking, and now works with startups to improve subscription revenue and build sustainable growth models.In this episode we cover:00:00 - A Journey from $10M to $50M05:06 - Key Decisions and Strategies for Growth13:24 - Finding the Right Model Fremium or Trial20:49 - Connecting Product Roadmap to Business Impact24:26 - Lessons Learned and Overlooked Strategies26:14 - Personal Insights and Rapid Fire QuestionsGet in Touch with Daniel:Subscription IndexDaniel's LinkedInMentions:Brian BalfourReforgeDiligentBumbleTag Us & Follow:FacebookLinkedInInstagramMore About Akeel:TwitterLinkedInMore SaaS Podcast EpisodesSaaS ConsultantsHow To Value Your SaaS Company
What happens when financial success no longer feels fulfilling? In this episode of The Fulfillionaire, Adam Robinson, CEO of Retention.com & RB2B, walked away from the burnout, pressure, and identity crisis of Wall Street to build a purpose-driven company focused on impact, storytelling, community, and real value creation. You'll learn how he bootstrapped Retention.com from zero to $25 million ARR, how he survived years of painful business struggles, and why solving a real customer problem matters more than chasing hype, marketing tricks, or vanity growth. You'll hear honest lessons about entrepreneurship, product-market fit, customer discovery, leadership, cash flow, scaling a startup, and why so many founders stay trapped in businesses that no longer serve them. If you've been wondering if success is supposed to feel more meaningful than this, this conversation will give you a fresh perspective. Tune in to the full episode of From Wall Street Burnout to Purpose-Driven Founder with Adam Robinson. Learn more at fulfillionaire.com. Adam Robinson is the CEO of RB2B and Retention.com, two bootstrapped companies built around a singular mission: helping businesses identify and convert the people visiting their websites. Unlike traditional tools that stop at the company level, RB2B goes deeper, revealing the actual person behind the visit and pushing their LinkedIn profile directly to Slack, for free. He has made it his life's work to help startup founders bootstrap their way to $10M ARR by closing the loop on what most marketing stacks leave open. His unconventional path from the high-pressure world of Wall Street to purpose-driven entrepreneurship gives him a rare perspective on what it truly means to build something that matters. LinkedIn: https://www.linkedin.com/in/retentionadam/ Retention Company Website: https://retention.com/ Instagram: https://www.instagram.com/retentiondotcom/ Facebook: https://www.facebook.com/RetentionDotCom LinkedIn: https://www.linkedin.com/company/retention-dot-com/ JP Newman is the founder of Fulfillionaire and CEO of Thrive FP, known for helping high-achievers align financial success with deeper human connection and purpose. With over $1.4 billion in real estate transactions and hundreds of investors coached, he brings a powerful blend of strategy, psychology, and emotional intelligence to the world of investing and negotiation. JP teaches that the best deals are built by understanding people, energy, and intention. Through his Fulfillionaire™ movement, he helps leaders stop operating from fear and start making decisions rooted in clarity and alignment. His approach redefines negotiation as a human-centered skill that turns insight into influence and lasting success. IG: https://www.instagram.com/jpnewman_/ LI: https://www.linkedin.com/in/jp-newman-45a1ba/
Téléchargez mon template Notion d'organisation et de pilotage : http://thebboost.fr/370.Vous bossez tout le temps mais votre business stagne ? Vous avez déjà testé toutes les méthodes de productivité classiques et rien ne change vraiment ?Je vous partage les 8 règles de productivité que j'applique au quotidien et dont (presque) personne ne parle. Pas les conseils basiques que vous avez déjà entendus 50 fois, mais les principes sous-cotés qui font réellement la différence.✨ Au programme :02:34 - Le repos n'est pas une récompense. C'est une stratégie business.05:23 - Montrez-moi votre agenda, je vous dirai si vous atteindrez vos objectifs (le concept que j'ai piqué à Leïla Hormozi)08:34 - La procrastination est un signal, pas un signe de paresse (et les 3 messages qu'elle vous envoie)11:13 - Arrêtez d'attendre d'être productive, construisez le système qui vous y oblige14:04 - La règle du résidu d'attention : pourquoi votre cerveau ne fonctionne qu'à 60-70% de ses capacités16:07 - 99% de votre to-do list ne vous servira jamais à rien (et pourquoi c'est OK)18:55 - La règle des 4 heures : ce que les top performers font (et pas vous)22:02 - Vos problèmes de temps sont presque toujours des problèmes de décision✨ Épisodes recommandés :127. Mes 11 astuces d'organisation et de productivité préférées292. 18 petites habitudes santé qui boostent ma productivité 359. Mon organisation d'entrepreneure à 1M€ de CA ✨ Liens & références cités dans l'épisode :Mon template d'organisation Notion Leïla Hormozi (CEO Acquisition.com)Sophie Leroy, "Attention Residue", INSEAD, 2009Bluma Zeigarnik (effet Zeigarnik, 1927)"The One Thing" / "Aller à l'essentiel" de Gary V. Keller
Et si la peinture pouvait devenir un remède aux blessures de l'âme ? Depuis 50 ans, le psychanalyste, philosophe et artiste-peintre ivoirien, Grobli Zirignon, transforme ses angoisses, ses douleurs et celles de ses patients en œuvres d'art. Une démarche qu'il appelle la psychart-thérapie. L'artiste célèbre un demi-siècle de création à travers une exposition intitulée « Grobli Zirignon : 50 ans de création – L'esprit des arts premiers ». Un voyage entre peinture, inconscient et quête de guérison intérieure. De notre correspondant à Abidjan, Dans les allées de l'exposition, les visiteurs avancent lentement d'une toile à l'autre. Des silhouettes fragmentées, des corps déformés et des couleurs parfois sombres. Ici, on retrouve une quarantaine d'œuvres du peintre ivoirien Grobli Zirignon. À 86 ans, l'artiste travaille une matière bien particulière : de la boue appliquée à du carton puis il frotte jusqu'à obtenir ce qu'il appelle « les beaux restes ». « Plus je forçais, plus je grattais, des matières, des formes émergent. Mais tout ça, je suis guidé d'une manière inconsciente par un esprit, c'est pas volontairement, mais quelque chose me dit : "Fais ça, ça te fera du bien." Et tout ce que je fais, ça m'a fait du bien, et j'ai continué dans ce sens-là. » Une exposition en trois temps : l'errance, le retour et la maturité artistique Depuis un demi-siècle, Grobli Zirignon peint pour soigner ses propres blessures intérieures et aider les autres à faire de même. Une démarche que ce psychanalyste a baptisée la psychart-thérapie. Autrement dit : utiliser l'art pour libérer les souffrances enfouies dans l'inconscient. « Je leur explique qu'il faut des couleurs, du papier blanc. Je leur dis de faire ce qu'ils veulent librement, de s'exprimer. Et quand ils ont fini, pendant une heure, je mets la toile au loin, on regarde ensemble et on en fait la lecture. Ils trouvent eux-mêmes ce qu'ils ont mis. Il y en a qui trouvent des souvenirs d'enfance, donc c'est l'usage de la peinture, des formes libres, le choix de couleur et ils s'en sortent. » L'exposition retrace trois grandes étapes de la vie de l'artiste : l'errance après son arrivée en France à l'âge de 13 ans ; le retour en Côte d'Ivoire dans les années 1970. Puis le temps de la maturité artistique. Une rétrospective avec un message adressé à la jeune génération. « Accepter de puiser dans le passé pour mieux appréhender l'avenir. Je pense que l'art africain a un bel avenir. Mais il est important qu'on fasse une pause et qu'on regarde la qualité de ce qui a été fait dans le passé pour pouvoir tenir la route encore. Et donc, ceux-là, sont nos maîtres », explique Christelle Mangoua, commissaire de l'exposition. Grobli Zirignon : figure majeure de l'art contemporain ivoirien Arrêtée devant une toile intitulée L'Ancêtre balafré, Diadjo, une amatrice d'art, semble hypnotisée. L'œuvre représente le visage d'un vieil homme marqué de scarifications. Fascinée par la technique et la matière, elle observe longuement les reliefs du tableau. « C'est le genre de tableau, quand on le voit, on est tout de suite attiré, on a envie de se rapprocher pour comprendre avec quel matériau il a fait ses œuvres d'art. C'est très technique, parce que la boue qui est beaucoup plus lourde que le carton peut abîmer le carton. C'est très très particulier. » Figure majeure de l'art contemporain ivoirien, Grobli Zirignon a formé plusieurs jeunes artistes. Il est notamment lauréat du prix Dumoulin d'originalité à Paris en 1976 et du prix de la Recherche aux Grapholies d'Abidjan en 1993. L'exposition « Grobli Zirignon : 50 ans de création – L'esprit des arts premiers » se poursuit jusqu'au 28 mai prochain. À lire aussiLa psychart-thérapie, un antidote contre la violence
Un bonjour sincère, un merci, une écoute attentive… et si c'étaient ces petites choses qui faisaient toute la différence dans une équipe ?Dans cet épisode feelgood du lundi en partenariat avec Great Place To Work, je vous explique pourquoi les micro-attentions du quotidien ont un impact énorme sur l'ambiance, la confiance et l'engagement.NOUVEAU : retrouvez moi sur WhatsApp sur la chaîne Happy Work... pas de spam, c'est gratuit et il n'y a que du feelgood !!! : https://whatsapp.com/channel/0029VbBSSbM6BIEm0yskHH2gEt pour retrouver tous mes contenus, tests, articles, vidéos : www.gchatelain.comDÉCOUVREZ MON AUTRE PODCAST, HAPPY MOI, LE PODCAST POUR PRENDRE SOIN DE VOUS, VRAIMENT: lnk.to/sT70cYbien-être au travailmanagementéquipeambiance travailrelations professionnellesengagement salariéleadershipcommunication00:00 – Introduction00:22 – 5 conseils pour booster la confiance en soi00:40 – Revenir aux faits01:56 – Accepter de ne pas tout savoir03:12 – Arrêter de se comparer04:33 – Passer à l'action malgré le doute05:48 – Soigner son environnement07:06 – Ce qu'il faut retenir de cet épisodeSoutenez ce podcast http://supporter.acast.com/happy-work. Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.
Sam Slevin, Global SVP of Customer Success at AlphaSense, joins Sam Jacobs, AJ Bruno, and Asad Zaman on the AI-era customer success playbook. Topics include why service is the differentiator over the next 2 to 3 years, the case for customer success owning a revenue number from day one, the gap between finance's productivity targets and real-life capacity. Plus, the origins of customer success, why consumption-based pricing can quickly become a trap, and a bull-versus-bear debate on whether HubSpot can get back to a $20 billion market cap. In short... big episode! Key Takeaways: - After 17 years building customer success teams, Sam Slevin doesn't entertain the "should CS own a number" debate. As Sam Slevin, Global SVP of Customer Success at AlphaSense, put it: "in my 17 years of, of customer success and leadership within customer success, that has never actually been a debate for, for me. I, I would never take a role that doesn't have revenue focused and like impact owning a number, calling your forecast from day one." His standing practice when he joins a new company: build a top-down and bottoms-up forecast on day one and validate it the same way sales does. - Slevin's central thesis is that AI raises the floor on automation while service becomes the upside lever for the next 2 to 3 years. As Slevin put it: "I don't think there could be a more exciting time to be in customer success where service feels like it could be the major differentiator over the next 2 to 3 years." The CS team that listens carefully, builds deep relationships, and meets customers where they are wins the renewal and the expansion. - The hardest tension in CS productivity is the gap between what finance models demand and what individual accounts actually support. As Slevin put it on his approach: "I definitely want to increase productivity in ARR per AM. What's interesting is I feel like there's a finance model and then there's a real life model… finance will say we need $15 million per AM." The leader's job, Slevin argues, is to find the 10% operational drag (AM-to-AE handoffs, billing friction, segmentation gaps) and remove it to close the gap. - On HubSpot's path back to $20 billion, AJ Bruno takes the bullish side based on customer behavior signals. As AJ Bruno, CEO at QuotaPath, put it: "And the fact that they've gone horizontal, um, now I know that there are like 70% of their customers are still looking for answers for HubSpot of what AI needs to look like, and they haven't let the opportunity yet pass them by, but it's getting shaky right now." Sam Jacobs took the bearish side, citing structural challenges and faster-moving AI-first competitors. Connect with the Hosts & Guests: Host: Sam Jacobs, CEO at Pavilion - https://www.linkedin.com/in/samfjacobs/ Host: AJ Bruno, CEO at QuotaPath - https://www.linkedin.com/in/ajbruno3/ Host: Asad Zaman, CEO at Sales Talent Agency - https://www.linkedin.com/in/azaman1/ Guest: Sam Slevin, Global SVP Customer Success at AlphaSense - https://www.linkedin.com/in/sam-slevin-9b2ba21b/ Topline is more than a YouTube Channel: Subscribe to Topline Newsletter: https://toplinemedia.substack.com/ Tune into Topline Podcast, the #1 podcast for founders, operators, and investors in B2B tech: https://www.joinpavilion.com/topline-podcast Join the free Topline Slack channel to connect with 600+ revenue leaders to keep the conversation going beyond the podcast: https://www.joinpavilion.com/topline-slack Chapters: 00:00 Introducing Sam Slevin 03:13 Customer Success in the AI Era 04:28 Should CS Own a Number? 07:43 Gross Retention vs. Growth 11:02 The Number-Owner Premium 14:37 Service as the AI-Era Moat 22:19 Productivity Per Person 26:34 Vendor Spend and AI Voice Modes 35:12 Reimagining GTM Roles 38:51 Quiz Pro Quo 45:38 Seat to Usage-Based Pricing 50:12 Pricing AI Like a Meter 55:43 CSM vs Salesperson Comp Gap 58:43 Bulls and Bears
Vous doutez de vous ? Bonne nouvelle… ça se travaille.Dans cet épisode, 5 conseils simples et concrets pour renforcer votre confiance au travail.Revenir aux faitsAccepter de ne pas tout savoirArrêter de se comparerPasser à l'actionSoigner son environnement
Eva Strehler had already learned what drew her to the road on a motorcycle: freedom, movement, and a way of living outside the usual shape of things. Then she built a sidecar for her dog, Polly, and headed east. What followed was meant to be another long motorcycle journey — through Turkey, into Iran, and across landscapes that changed as quickly as the people she met along the way. But somewhere during the trip, the journey became about something else entirely. This is a conversation about travel, companionship, risk, solitude, and the moments that quietly change the meaning of a journey while you're still inside it.
Legal tech startups, including Clio, which just hit $500 million in ARR, are seeing massive customer adoption. After achieving $2.2 billion in revenue in 2025, the defense tech startup has raised another massive round, led by Thrive and a16z, it says. Learn more about your ad choices. Visit podcastchoices.com/adchoices
“Arrête de pleurer”, “ça va, c'est rien”, “mais non t'as pas eu mal”, "ça va passer, t'en fais pas" Qui n'a pas entendu ce type de phrases dans son enfance, ou qui n'a pas prononcé ces mots pour tenter de rassurer notre enfant lors d'un petit ou gros bobo ?Arriver à consoler notre enfant sans le laisser dans la solitude sa souffrance n'est pas aussi simple qu'il n'y paraît. Quand j'ai reçu le dernier livre d'Hélène Romano “Consoler nos enfants” je me suis dit : “Oh ça va ce n'est pas si difficile” et puis un quart de seconde après je me suis faite la réflexion que pas du tout.Consoler un enfant, le nôtre de surcroît, est une tâche primordiale et quasi quotidienne dans notre parentalité, qui demande des compétences parentales bien précises.Hélène Romano, revient pour la 2e fois dans ce podcast, après son épisode sur les mères qui ne protègent pas de l'inceste. Elle est de retour pour nous parler de l'art de consoler et c'est passionnant.Accueillir, prendre soin, discerner le malheur de notre enfant, ou encore accepter sa douleur, peuvent parfois nous mettre à mal. Mais pas de panique, Hélène est là pour vous guider et vous le dire, il n'est jamais trop tard pour retisser le lien de confiance avec votre enfant.Je vous souhaite une très bonne écoute !Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.
What happens when a $6.4 billion PE buyout becomes a cautionary tale for every SaaS operator, investor, and board member? In this episode, Dave "CAC" Kellogg and Ray "Growth" Rike break down Private Credit: what it is, how it works, and why it is showing up everywhere from venture rounds to leveraged buyouts. Then they walk through the Medallia deal step by step to show exactly how the model breaks.What we covered:Private credit 101: from venture debt to leveraged buyoutsPrivate credit is non-bank lending done by funds instead of banks, with a repayment-first mindset rather than a returns mindset. Capital deployment hit nearly $600 billion in 2024, up 78% from 2023, with 22 to 25% of that concentration in SaaS companies. Ray and Dave explain the difference between venture debt (lending to startups post-round) and direct lending (providing the "L" in LBO transactions), and why these structures have moved from niche to standard in software finance.How debt is priced and why it costs what it costsPrivate credit loans are floating-rate instruments priced at SOFR plus 500 to 800 basis points. In the zero-rate era that meant 6 to 9% all-in. Today it means 10 to 13%. Dave explains warrants as the "sweetener" (typically 5 to 15% of the loan amount, translating to under 2% equity ownership) and why the real economic driver is repayment, not upside. Ray frames the contrast with VC math: a lender who loses principal on one deal has no portfolio-level offset.The terms that matter: PIK, bullets, and covenantsPay-in-kind interest defers cash pain today by adding to the principal balance tomorrow. A $100M loan PIK-ing at 10% annually becomes $121M in two years and $133M in three. Bullet loans put the entire principal due at maturity, which for most companies means refinancing or a sale event. Dave's strongest language is reserved for covenants, which he calls the "third rail": liquidity, EBITDA, ARR growth, and coverage ratio thresholds that give lenders the right to call the loan if tripped. He argues these belong on page one of every board dashboard, every time.The Medallia case study: when all the assumptions move against youThoma Bravo acquired Medallia in 2021 for $6.4 billion at 9x revenue, with roughly $1.8 billion of debt backed by Blackstone, Apollo, and KKR. The deal was underwritten on continued growth and margin expansion toward 25% free cash flow. Instead, growth slowed, base rates rose more than 400 basis points, PIK interest compounded the balance from $1.8B to $2.2B, and EBITDA of $200M fell below annual interest expense of $300M. Interest coverage dropped below 1x. Thoma Bravo's $5 billion equity investment went to zero. Lenders took the keys via debt-for-equity conversion.Why these structures can look stable and then break fastThe Medallia deal was not unusual at entry. The problem was that PIK, rising rates, and slowing growth are individually manageable and jointly lethal. By March 2026, Blackstone was marking its first-lien Medallia debt at 60 cents on the dollar. Ray notes that between 2015 and 2025, more than 1,900 software companies were acquired by PE in deals worth over $440 billion, and 20 to 25% of all private credit went to SaaS. The exposure across the sector is large.The lesson Rory O'Driscoll would underlineDave closes with a line from Rory O'Driscoll: as soon as something becomes a formula, the play is probably over. Private credit for SaaS worked reliably for nearly a decade. The combination of higher rates, compressed multiples, and closed IPO and M&A windows revealed that the formula was underwriting a world that no longer existed. Senior debt gets paid first. When the debt is impaired, the equity is gone. The math does not negotiate.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Már hallgatható a Portfolio Checklist szerdai adása, amelynek első részében arról volt szó, hogy Tanács Zoltán tudományos és technológiai minisztere Észtország mintájára építené fel a digitális államot Magyarországon. Arról, hogy pontosan mit takar ez a modell, miért lehet előremutató számunkra és mennyire nehéz megvalósítani, Havas Andrást, a McKinsey partnerét kérdeztük. A műsor második felében áttekintettük a rekordgyorsasággal felálló Tisza-kormányra váró legsürgetőbb feladatokat, az első száz nap várható menetrendjét a miniszteri meghallgatások, a kormányprogram és az eddig elhangzott nyilatkozatok alapján, ebben pedig Debreczeni Réka, a Portfolio elemzője volt segítségünkre. Főbb részek: Intro − (00:00) Észt mintájú digitális államunk lesz? − (01:58) Indul a 100 napos Tisza-sprint − (19:28) Címlapkép forrása: PortfolioSee omnystudio.com/listener for privacy information.
This episode of Inside the Network is unique because it is our very first show recorded live on the RSAC 2026 stage in front of security leaders, startup founders, and identity experts. For this episode, we had the privilege of sitting down with one of the most accomplished founders in cybersecurity, founder and CEO of SailPoint, Mark McClain.Cybersecurity is not an easy market to take a company public, and only the most successful founders have the opportunity to take a company public just once. Mark on the other hand has taken the same company public twice. He created the identity governance category from scratch, grew the company into a global identity security leader with more than $1 billion in ARR, over 3,000 employees, and customers across nearly half of the Fortune 500, took it public in 2017, private again with Thoma Bravo in a multi-billion-dollar transaction, and then back to the public markets in 2025.This episode explores one of the biggest questions in cybersecurity today: how do incumbents survive and win in the age of AI? Mark shares how large cybersecurity companies think about innovation, disruption, and adaptation in a world that's changing faster than ever before. We discuss whether incumbents can turn scale, distribution, and customer trust into long-term advantages, or whether AI creates the perfect opening for a new generation of startups to challenge established leaders. Throughout the conversation, Mark reflects on the evolution of identity security from compliance tooling into one of the most critical security control planes in the enterprise. We dive into the rise of non-human and agentic identities, why traditional governance models are breaking under the speed of AI, and how companies like SailPoint are adapting to a world where identities can be ephemeral, autonomous, and operating at machine speed.We also talk about building startups in Austin versus Silicon Valley, lessons from taking the same company public twice, the realities of operating as both a public-company CEO and a founder, and what early-stage founders continue to underestimate about enterprise cybersecurity markets. In closing, Mark shares candid advice for founders building in cybersecurity today: where startups still have a real edge, what markets are ripe for disruption, and why listening to customers remains the ultimate competitive advantage.You can watch the full video recording of this conversation on-stage at the RSAC 2026 Conference here: Inside the Network Live: Winning as an Incumbent in the Age of AI.
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Patrick Forquer is the Chief Revenue Officer at Legora, the fastest growing enterprise business to ever hit $100M in ARR and now on track to hit over $250M in ARR by the end of the year. They recently raised a $550 million Series D at a $5.55 billion valuation, led by Accel, note 20VC did participate and is an investor in the company. AGENDA: 0:00 – How Jude Law Generated $50 Million in Qualified Pipeline 4:00 – Why Implementation is Your Secret Weapon to Win in AI 5:50 – Why AI Enterprise Sales Require "Legal Engineers" 7:45 – The 6-Figure Rule: When Should Humans Control Sales 12:55 – Is Legora Vastly Overvalued at $5.5BN? 15:45 – How to do global expansion in a world of AI 18:00 – How to Win Supremely Competitive Markets 24:45 – Why Giving Your Product Away for Free is a Death Sentence 33:55 – Legora's Onboarding and Training Playbook for Sales Teams 38:25 – Spotting Red Flags: How to Know if a Sales Rep Will Fail in 45 Days 46:30 – How to Structure Sales Commissions in a World of AI 49:40 – How to do Revenue Forecasting in a World of AI 1:00:30 – Will companies vibe code solutions and no longer buy a SaaS products?
#354 | Sue (Head of Lifecycle Marketing, Monarch Money), Jonathan (VP of Marketing, Seamless.AI), and Naomi (Senior Product Marketing Manager, Customer.io) join Dan for a live Exit Five session on customer marketing. Sue breaks down how Monarch discovered that the best time to promote their referral program was during trial and the data behind a 64% lift in referral shares and half a million dollars in incremental ARR. Jonathan shares how Seamless.AI stopped treating customer engagement like a campaign and built a full 365-day behavioral program, including an AI chatbot that deflected 55% of support tickets and live trainings that flattened their churn curve. Then Naomi walks through how she uses plain-text emails asking for replies to close the feedback loop on new features and shape the product roadmap.Timestamps(00:00) - - Intro (07:15) - - Sue: Why the best time to promote a referral program is during trial, not after (10:15) - - The results: 64% lift in referral shares and $500K in incremental ARR (17:15) - - Sue's background: 16 years in lifecycle marketing from online dating to Calm to Monarch (20:15) - - Jonathan: Stopping treating customer engagement like a campaign (26:15) - - Building a 365-day behavioral multi-channel customer engagement program (27:15) - - The AI chatbot that deflected 55% of support tickets (35:20) - - Live customer training 4x a week and how it flattened the churn curve (40:20) - - Growth plays for NRR: marketing to users inside existing accounts (42:20) - - Jonathan's results: 24% decrease in cancellations year over year (43:20) - - Naomi: Using lifecycle marketing to close the product feedback loop (49:20) - - The MCP server onboarding flow and why she asks for replies instead of clicks (56:20) - - Using beta email campaigns to shape the product roadmap (59:20) - - Live Q&A Join 50,0000 people who get Dave's Newsletter here: https://www.exitfive.com/newsletterLearn more about Exit Five's private marketing community: https://www.exitfive.com/***Brought to you by:Knak - A no-code, campaign creation platform that lets you go from idea to on-brand email and landing pages in minutes, using AI where it actually matters. Learn more at knak.com/exitfive, or check out the MCP server by clicking this link. Vector - A contact-level ads platform that lets you build audiences from actual people on your site, clicking your ads, and checking out your competitors. Learn more at vector.co, and get on the waitlist for their new MCP server by clicking here. Compound Growth Marketing - A full-funnel demand generation agency that helps high-growth cybersecurity, DevOps, and enterprise software companies drive more pipeline through AI SEO, paid media, and go-to-market engineering. Visit compoundgrowthmarketing.com and tell them Dave sent you.***Thanks to my friends at hatch.fm for producing this episode and handling all of the Exit Five podcast production.They give you unlimited podcast editing and strategy for your B2B podcast.Get unlimited podcast editing and on-demand strategy for one low monthly cost. Just upload your episode, and they take care of the rest.Visit hatch.fm to learn more
Patrick Moorhead and Daniel Newman dig into the week's biggest moves in enterprise AI: Anthropic and OpenAI launching PE-backed enterprise JVs on the same day, Anthropic filling its compute gap with SpaceX's Colossus, Cerebris filing for a $3.5 billion IPO, NVIDIA going deep on co-packaged optics with Corning, and a full IBM Think and ServiceNow recap. Plus, for The Flip, hosts debate whether Anthropic, at $1.2 trillion, is the most important company in enterprise tech. The handpicked topics for this week are: 1. Anthropic and OpenAI Launch PE-Backed Enterprise JVs on the Same Day — Both companies announced private equity joint ventures, with OpenAI backed by Bain, Brookfield, and Advent, and Anthropic partnering with Blackstone, Goldman Sachs, Apollo, and General Atlantic. Daniel's read is that this is fundamentally a distribution play, using private equity portfolio companies as a deployment channel for AI at scale. Pat sees it as the clearest admission yet that enterprise AI cannot be self-implemented at scale without specialized consulting support, and flags that mid-tier systems integrators (SIs) could get cut out of the middle. (The Decode) 2. Anthropic Signs Massive Compute Deal with SpaceX Colossus — Anthropic urgently needed compute and SpaceX had 300 megawatts and 220,000 GPUs sitting at Colossus One in Memphis without enough business to fill them. Pat's take is blunt: this move is pragmatic. Anthropic needs it, xAI has it. Daniel adds that Dario himself said they planned for 10x growth and got 80x, and this deal is the fast backfill that reality demanded. The side note both hosts flag: Anthropic is running on H100s, H200s, and B200s, which puts the whole "Anthropic only runs on Trainium and TPUs" narrative to rest. (The Decode) 3. Cerebris Files for a $3.5 Billion IPO at $26.6 Billion Valuation — This marks their second attempt at an IPO after pulling the first filing. The architecture is genuinely unique, a complete wafer with massive on-chip SRAM and interconnects built directly onto the wafer rather than copper or photonics. Pat calls it the first credible Western alternative for AI inference. Daniel's framing cuts through: you do not have to beat NVIDIA to sell right now. You just need to have availability. The more interesting headline, both hosts agree, is that Sam Altman and Greg Brockman are angel investors, which adds fuel to the ongoing OpenAI lawsuit. (The Decode) 4. NVIDIA and Corning Announce $500 Million Optical Partnership — Three new US factories, co-packaged optics for Vera Rubin, and a supply chain strategy that mirrors what NVIDIA did with Coherent. Pat's context: this is vertical integration through investment rather than acquisition. Daniel's observation is that the pace of movement toward co-packaged optics is accelerating faster than anyone expected, and his "rule of and" applies here too. Copper is not going away. Optics are being added on top because the data volumes moving across these racks are outrunning what copper alone can handle. US manufacturing in North Carolina and Texas is a strategic bonus. (The Decode) 5. IBM Think 2026: Day Zero, Sovereign Core, and the Quantum Plus AI Bet — Pat moderated on stage with CEO Arvind Krishna and calls this IBM's best showing in five years. Arvind opened with the AI divide, the gap between companies still running POCs and companies already in production, and framed where IBM sits as day zero, not because nothing has happened, but because enterprise AI deployment at scale is still so early. Daniel's biggest takeaways: watsonX Orchestrate updates, Sovereign Core going GA with policy at runtime, and the Confluent acquisition potentially being IBM's most important asset since Red Hat, given that 40% of Fortune 500 companies run on it and real-time streaming data is foundational to agentic systems. Both hosts land on quantum plus AI as IBM's next inflection moment. (The Decode) 6. ServiceNow Knowledge 2026: Enterprise SaaS 2.0 is Emerging — Daniel got there on day three of the event and noted the conference was densely packed. His observation: enterprises have not gotten the memo from Wall Street that SaaS is supposedly dead. His emerging thesis is that middleware could make a comeback for AI, with companies needing a layer that lets agents work across any infrastructure, any app, and within the rules of their specific business. Pat agrees and adds that the growth question is about mix, not survival. (The Decode) 7. The Flip: Is Anthropic at $1.2 Trillion the Most Important Company in Enterprise Tech? — Daniel took the affirmative citing that Claude Code is deeply entrenched in developer workflows. Anthropic went from $9 billion to $45 billion ARR in months. Every major hyperscaler is both a customer and an investor. The PE JVs are turning verticals into Anthropic engines. Dario said they planned for 10x and got 80x. Pat's counter: the enterprise trust gap is real after what Anthropic pulled on pricing and performance. Microsoft has 2 billion users across 365, Azure, and Copilot. NVIDIA is the infrastructure Anthropic runs on. And workforce replacement, which is how Anthropic extracts its terminal value, is not arriving as fast as the valuation suggests. In reality, both hosts admit their notes looked almost identical. (The Flip) 8. AMD — Lisa Su guided AI data center growth up from 60% to 80%. With OpEx growing 83%, net income up 95%, free cash flow ripping, and CPUs growing at nearly 40% without price increases, Pat reads this as unit market share gains coming soon. Daniel's framing: AMD is now a two-headed juggernaut with CPUs and GPUs for the data center. And Helios has not even started shipping yet. Both hosts take a victory lap for previously calling this one. (Bulls and Bears) 9. Palantir — Triple beat on revenue, EPS, and forward guidance. Rule of 40 at 145%. Government revenue up 84%, 47 deals over $10 million, and the largest guidance raise in the company's history. Daniel's take: Palantir is redefining the category entirely. It's not a software company in the Salesforce or ServiceNow sense. It's technology, plus ontology, plus people, deployed at the deepest layers inside governments and enterprises. Pat adds that the four deployed FTE model lets them stand up AIP POCs within a week, which is why they are winning business at this pace. (Bulls and Bears) 10. ARM — AGI processor demand doubled from $1 billion to $2 billion within 45 days. Record revenue, strong pipeline, royalty growth at 21% for the full year. The stock ripped after hours, then sold the next day when management confirmed only enough supply for $1 billion of that $2 billion demand. Pat's read: 50% CPU market share with hyperscalers at the core level is the most underdiscussed signal on the call. Daniel adds that the worry about ARM competing with its own customer base in custom silicon has been quietly swept away by the sheer volume of compute demand. (Bulls and Bears) 11. Supermicro — A board member allegedly used a hairdryer to remove labels from GPU boxes being shipped to China. Approximately 20% of their revenue has reportedly been illegally shipped to China. They beat on EPS and Q4 guide but missed Q3 revenue versus consensus. Stock still ripped 18%. Daniel's take: if you are selling picks and shovels during a gold rush and you are this messed up, he cannot imagine owning it with the overhang that is building. (Bulls and Bears) 12. Lattice Semi and Coherent — Lattice revenue up 42%, back into growth, guiding to 50% year-on-year at midpoint. The AMI acquisition at $1.65 billion doubles their serviceable market from $6 billion to $12 billion and puts them inside every AI server on the planet at the BIOS and platform firmware layer. Pat calls the timing right: core financials crushing it, time to make a move. Coherent printed 21% year-on-year growth, 55% EPS growth, margins expanding, debt coming down, entered the S&P 500, and sits at the center of the co-packaged optics trend that is accelerating. Pat's choke point note: Indium phosphide capacity is the constraint. Six-inch fabs are doubling capacity in 2026, a quarter ahead of plan, and competitors are still ramping their transitions. (Bulls and Bears) Want the full breakdown from IBM Think and ServiceNow Knowledge, and check out our on-the-ground coverage linked in the show notes. Be part of our community. Hit that subscribe button and let us know what you want us to cover next week in the comments. Intro Pat on Stage at IBM Think https://x.com/PatrickMoorhead/status/2051381046537601101?s=20 The Decode OpenAI and Anthropic Both Launch PE-Backed Enterprise Services JVs on the Same Day — The Palantir FDE Model Goes Mainstream https://www.bloomberg.com/news/articles/2026-05-04/openai-finalizes-10-billion-joint-venture-with-pe-firms-to-deploy-ai https://techcrunch.com/2026/05/04/anthropic-and-openai-are-both-launching-joint-ventures-for-enterprise-ai-services/ https://www.semafor.com/article/05/04/2026/openai-anthropic-ramp-up-enterprise-push Anthropic and SpaceX Sign Massive Compute Deal — Full 300MW / 220,000 GPU Colossus 1 Memphis Data Center Plus Exploration of Multi-Gigawatt Orbital AI Compute https://www.cnbc.com/2026/05/06/anthropic-spacex-data-center-capacity.html https://www.bloomberg.com/news/articles/2026-05-06/anthropic-inks-computing-deal-with-spacex-to-meet-ai-demand https://www.tomshardware.com/tech-industry/artificial-intelligence/musks-spacex-has-rented-out-access-to-its-supercomputers-220-000-nvidia-gpus-and-300-megawatts-of-ai-compute-power-to-rival-anthropic Cerebras Files for $3.5B IPO at $26.6B Valuation — The First Major AI Chip IPO of 2026 https://www.cnbc.com/2026/05/04/cerebras-ipo-ai-chipmaker.html https://theaiinsider.tech/2026/05/06/cerebras-systems-eyes-3-5b-in-largest-tech-ipo-of-2026-on-strength-of-ai-chip-demand/ https://www.briefs.co/news/ai-chipmaker-cerebras-just-filed-for-a-3-5-billion-ipo/ NVIDIA and Corning Announce Game-Changing Optical Partnership — $500M Investment, 3 New U.S. Factories, and Co-Packaged Optics for Vera Rubin and Beyond https://www.corning.com/worldwide/en/about-us/news-events/news-releases/2026/05/nvidia-and-corning-announce-long-term-partnership-to-strengthen-us-manufacturing-for-ai-infrastructure.html https://www.cnbc.com/2026/05/06/nvidia-corning-optical-factories-nc-texas-ai.html https://www.wsj.com/tech/nvidia-corning-form-partnership-to-expand-fiber-optic-manufacturing-17f525de https://kfgo.com/2026/05/06/corning-partners-with-nvidia-to-expand-us-fiber-optic-output-for-ai-growth/ IBM Think 2026 Boston — Watsonx Orchestrate Next-Gen, Confluent Real-Time Data, IBM Concert, and Sovereign Core Define IBM's Agentic Operating Model https://newsroom.ibm.com/2026-05-05-think-2026-ibm-delivers-the-blueprint-for-the-ai-operating-model-as-the-ai-divide-widens https://www.ibm.com/new/announcements/ibm-announcements-at-think-2026 https://www.instagram.com/reel/DX42DlrglOs/ ServiceNow Knowledge 2026 Las Vegas https://www.servicenow.com/events/knowledge.html https://newsroom.servicenow.com/press-releases/details/2026/Cohesity-and-ServiceNow-Deliver-Real-Time-Recovery-for-Enterprise-AI-Agents/default.aspx https://www.cnbc.com/2025/09/04/nvidia-backed-cohesity-eyes-2026-ipo-with-valuation-rivaling-17-billion-rubrik.html The Flip: Anthropic at $1.2T Now the Most Important Company in Enterprise Tech — More Important Than NVIDIA, Microsoft, or OpenAI FOR: Dual-hyperscaler compute anchor (Amazon $33B + Google $40B = $73B) is structural — unmatched https://futurumgroup.com/insights/anthropics-gigawatt-scale-tpu-deal-with-broadcom-creates-a-structural-advantage/ Constitutional AI safety positioning wins regulated industries https://www.anthropic.com/news/anthropic-nec-japan-ai-engineering-workforce $900B valuation surpasses OpenAI ($852B) at faster revenue growth and lower burn rate https://techcrunch.com/2026/04/30/anthropic-potential-900b-valuation-round-could-happen-within-two-weeks/ AGAINST: NVIDIA still controls the substrate — every Anthropic dollar of revenue requires NVIDIA inference at some layer https://www.cnbc.com/2026/04/27/nvidia-just-hit-an-all-time-high-why-some-think-a-rally-is-just-getting-started.html Microsoft has the enterprise distribution — 365 + Azure + Copilot reach >2 billion users https://www.marketbeat.com/originals/microsofts-maia-200-the-profit-engine-ai-needs/ $900B valuation is venture marketing — the IPO will reset the number https://www.semafor.com/article/05/04/2026/openai-anthropic-ramp-up-enterprise-push Bulls & Bears: AMD Q1 2026 — Revenue $10.3B (+38% YoY), MI300X Data Center GPU Demand Drives Stock +20% on the Print https://ir.amd.com/news-events/press-releases/detail/1284/amd-reports-first-quarter-2026-financial-results https://www.cnbc.com/2026/05/05/amd-q1-2026-earnings-report.html https://finance.yahoo.com/markets/stocks/articles/amd-q1-2026-earnings-revenue-203331768.html Palantir Q1 2026 — Revenue +85% YoY, US Commercial +133%, Rule of 40 Score Hits 145%; Largest Guidance Raise in Company History https://investors.palantir.com/files/Palantir%20-%20Q1%202026%20Business%20Update.pdf https://www.reddit.com/r/PLTR/comments/1t3t0me/palantir_reports_q1_2026_us_revenue_growth_of_104/ https://finance.yahoo.com/markets/stocks/articles/palantir-technologies-inc-q1-2026-002218719.html https://semiconalpha.substack.com/p/palantir-q1-2026-rewriting-the-rule Arm Holdings Q4 FY2026 — Record $1.49B Quarter, Full-Year Revenue Crosses $4.92B, $2B AGI CPU Pipeline; Stock +16% After Hours https://finance.yahoo.com/markets/stocks/articles/arm-q4-earnings-call-highlights-225942093.html https://www.stocktitan.net/sec-filings/ARM/6-k-arm-holdings-plc-uk-current-report-foreign-issuer-7e9ca9ac7dda.html https://semiconalpha.substack.com/p/arm-q4-fy2026-record-quarter-2-billion Super Micro Computer Q3 FY2026 — Revenue $10.2B (+123% YoY), Strong Q4 Guide; Stock +18% AH on First Earnings Call Since Co-Founder Indictment Drama https://www.cnbc.com/2026/05/05/super-micro-smci-q3-earnings-report-2026.html https://www.stocktitan.net/sec-filings/SMCI/8-k-super-micro-computer-inc-reports-material-event-e70b2f8b3cb7.html https://www.instagram.com/reel/DX42DlrglOs/ Lattice Semiconductor Q1 2026 — Beat-and-Raise Quarter ($170.9M, +42% YoY) Paired With $1.65B AMI Acquisition That Doubles Lattice's SAM to $12B https://www.stocktitan.net/sec-filings/LSCC/8-k-lattice-semiconductor-corp-reports-material-event-642a862b2bf9.html https://www.ami.com/resources/ami-announces-agreement-to-be-acquired-by-lattice-semiconductor/ https://www.linkedin.com/posts/patmoorhead_lattice-semiconductor-posts-beat-and-raise-activity-7457411226944425984-xA8T Coherent Q3 2026 Earnings https://www.msn.com/en-us/money/companies/coherent-cohr-tops-revenue-expectations-in-q3-as-ai-demand-accelerates-shares-decline/ar-AA22Bz24?ocid=finance-verthp-feeds
De plus en plus fréquent en Europe, le phénomène de l'électricité à prix négatif peut sembler absurde : à certains moments, les producteurs paient pour vendre leur électricité. Comment est-ce possible ? Pourquoi les prix chutent-ils sous zéro ? Et surtout, est-ce une bonne nouvelle pour les consommateurs ? Décryptage d'un paradoxe au cœur de la transition énergétique. À première vue, cela paraît totalement fou. Des producteurs d'électricité qui paient pour vendre leur courant, ou plus exactement pour s'en débarrasser. Et pourtant, ce phénomène de prix négatifs de l'électricité devient de plus en plus fréquent en Europe. Pour comprendre, il faut revenir à une particularité essentielle de l'électricité. Contrairement au pétrole ou au gaz, elle se stocke très difficilement à grande échelle. Lorsqu'une centrale produit de l'électricité, celle-ci doit être consommée presque immédiatement. À chaque instant, le réseau doit donc maintenir un équilibre parfait entre production et consommation. Et c'est précisément là que le système se complique. Depuis une dizaine d'années, l'Europe investit massivement dans les énergies renouvelables. Les éoliennes se multiplient, tout comme les panneaux solaires. Quand il y a du soleil ou du vent, la production d'électricité explose. Le problème, c'est que dans le même temps, la consommation n'augmente pas forcément. À lire aussiQuarante ans après Tchernobyl: où en est le nucléaire mondial? Problème de saison Prenons un dimanche de printemps. Les usines tournent au ralenti, les bureaux sont fermés, il ne fait ni trop chaud ni trop froid, peu de chauffage, peu de climatisation. Mais dehors, le soleil brille et le vent souffle. Résultat : les panneaux solaires et les éoliennes produisent énormément d'électricité dont personne n'a réellement besoin à ce moment-là. Comme cette électricité ne peut pas être stockée facilement, les prix s'effondrent. Parfois jusqu'à devenir négatifs. Autrement dit : les producteurs préfèrent payer pour injecter leur électricité sur le réseau plutôt que de devoir arrêter leurs installations. C'est la loi de l'offre et de la demande poussée à son extrême. La solution paraît évidente. S'il y a trop d'électricité, pourquoi ne pas couper la production ? En réalité, ce n'est pas si simple. Arrêter une centrale nucléaire, à gaz ou à charbon prend du temps, coûte très cher et fatigue les installations. Dans certains cas, il est donc économiquement plus intéressant de continuer à produire à perte que de tout arrêter. Le problème est accentué par le fait que ce surplus arrive souvent au même moment : autour de midi, lorsque la production solaire atteint son pic. Face à cela, la demande reste relativement stable. Et surtout, les réseaux électriques ne sont pas dimensionnés pour absorber autant d'électricité d'un seul coup. On peut l'imaginer comme un flux continu. Tant que tout circule, le système fonctionne. Mais si trop d'électricité arrive au même moment sans pouvoir être consommée ou redirigée, le réseau se retrouve sous tension. Naturellement, on pense alors aux batteries. Mais aujourd'hui, malgré les progrès technologiques, aucune capacité de stockage n'est encore suffisante pour absorber de tels volumes à grande échelle. C'est l'une des grandes limites actuelles de la transition énergétique. L'électricité à prix négatif profite-t-elle aux consommateurs ? C'est la grande question. Et la réponse est : pas vraiment. La majorité des ménages disposent de contrats d'électricité à prix fixe. Le prix de l'électricité à un instant donné sur le marché n'a donc quasiment aucun impact immédiat sur leur facture. Car ces prix négatifs apparaissent sur les marchés de gros, entre producteurs et fournisseurs, bien loin du consommateur final. Mais ce phénomène révèle surtout une transformation beaucoup plus profonde du système énergétique. Pendant des décennies, la production d'électricité s'adaptait à la demande : quand les consommateurs avaient besoin d'énergie, les centrales produisaient. Aujourd'hui, avec la montée en puissance des renouvelables, la logique commence à s'inverser : ce sont progressivement les consommateurs qui devront s'adapter aux moments où l'électricité est abondante. Et cela crée un paradoxe majeur. Les énergies renouvelables deviennent parfois victimes de leur propre succès. Plus on installe de panneaux solaires, plus la production explose quand le soleil brille et plus les prix chutent. Les producteurs, eux, gagnent moins d'argent. Un paradoxe qui résume parfaitement le nouveau défi de la transition énergétique : produire une électricité décarbonée ne suffit plus. Il faut désormais apprendre à la stocker, à la transporter… et surtout à mieux la consommer. À lire aussiPourquoi la France ne consomme-t-elle pas assez d'électricité?
When the pandemic began reshaping the world in early 2020, Sarah Riley was helping guide finance at Zoom through an unprecedented surge in demand. “You could see the volume of Zoom almost spiking up by the regions that were going into shutdown,” Riley tells us. What followed was unlike anything most software companies had experienced before. During her four years at Zoom, the company expanded from roughly $200 million in ARR to $4 billion, Riley tells us. At one point, Zoom spent nearly half a billion dollars on AWS infrastructure costs it had not anticipated, she explains.For Riley, the experience fundamentally reshaped how she viewed finance leadership. Rather than becoming fixated on gross margin guidance or traditional planning cycles, she says the finance team had to continually reevaluate the “strategic heart” of the business as Zoom evolved from an enterprise software company into a platform supporting schools, consumers, and businesses worldwide. “Forecasting and discipline comes second” in moments of extraordinary change, Riley tells us.That mindset now informs her role as CFO of dbt Labs, where she oversees finance, accounting, and data operations while helping guide the company through its merger with Fivetran. Riley says today's defining challenge for software businesses is balancing legacy operating models with the realities of AI-driven transformation. “You need to balance that with how do we make sure that we're investing aggressively enough in capturing what our user base is turning into,” she tells us.
What do you do when your adventure bike is buried in sand, lying sideways on a slope, or wedged deep in a rut miles from help? In this episode, Jim talks with Clinton Smout, Adam Owens, and Chris Birch about the mindset, techniques, and recovery tools riders use when things go wrong off-road. From smart trail-side decisions and energy-saving recovery methods to simple techniques that can turn a bad situation around, this episode is packed with practical knowledge every adventure rider should hear before they need it.
Andy Alsop didn't start The Receptionist—he bought a small iPad-based visitor management app in 2013 for $250K and turned it into a real SaaS business. What began as a simple front-desk check-in tool evolved into a full visitor management system used across offices, schools, and manufacturing sites. Over a decade, Andy grew the company to 5,500 customers across 8,000 locations and more than $7M in ARR with just 30 employees. He stayed mostly bootstrapped, focused on steady growth, strong customer retention, and a unique "employee supremacy" culture that emphasized trust, transparency, and long-term loyalty. At an inflection point—needing more capital to keep up with a maturing market—Andy chose to sell rather than raise growth equity. The company was acquired by Sign In, a growth-equity-backed platform consolidating the category. In this episode, Andy shares how he evaluated buyers, avoided common exit traps, and built a company worth acquiring without chasing VC growth. Key Takeaways Simple Product, Deep System: What looks like a basic iPad app becomes complex, sticky infrastructure with integrations, compliance, and workflow depth. Bootstrap Leverage: Growing with customer revenue forced discipline, creating a profitable, efficient business attractive to strategic buyers. Employee Supremacy Works: Trust, transparency, and benefits (like every-other-Friday off) drove retention, performance, and long-term value creation. Clean Books Matter: Meticulous financial discipline prevented retrading risk and made due diligence smoother and more favorable. Exit Optionality Wins: Not needing to sell created leverage—allowing Andy to choose the right buyer instead of taking the only offer. Quote from Andy Alsop, CEO of The Receptionist "I sold 100 % of the company. It was a full acquisition. I wasn't even looking for, and this is something that my brother in tech always said: Don't build a company to sell it, build a great company and somebody will want to come along and buy it. And I think that's exactly the way it played out. We didn't go and look for the acquisition. We were pursued by Sign In and that's what happened. "Just build a great company and somebody will want to come along and buy it. Because I didn't want to just sell it. I mean, we're profitable. We're growing. We have very low churn. Great employees. We're doing great in the marketplace, I didn't really have to sell." Links Andy Alsop on LinkedIn The Receptionist on LinkedIn The Receptionist website Sign In website Podcast Sponsor – Lighter Capital This podcast is sponsored by Lighter Capital. In the last 15 years, Lighter Capital has helped over 600 software and SaaS founders secure simple, non-dilutive financing to grow a little faster—without giving up any precious equity or board seats to investors. Simple debt funding from Lighter Capital can range from $50K to $10 million, with straightforward terms, no personal guarantees or covenants, and up to a 4-year payback period. Go to LighterCapital.com to apply and get a quick pre-qualification. Then talk with their experienced team to create a practical funding plan to achieve your goals. The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com. Practical Founders CEO Peer Groups Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding. A Practical Founders Peer Group is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by Greg Head.
We've been saying one of the big strategics was going to move on a scaled independent agency. It's happening.Christian and Ayelet are back for Deal Review Friday with breaking news on an imminent Accenture acquisition, two lower middle market deals that tell you exactly what the current M&A environment looks like, and what all of this means for the scaled independents that were planning to go to market in 2027 or 2028.The dam is breaking. Here's what you need to know.⏱️ TIMESTAMPS0:00 — Cinco de Mayo, Salsify's Digital Shelf Summit, and puppies1:53 —
韩国导演尹佳恩的《世界的主人》2026 年 4 月正式上线流媒体，迅速引发影迷圈与评论界的热议。这部影片 2025 年 9 月于多伦多电影节首映，同年登陆平遥国际电影展斩获卧虎单元最佳影片、最受欢迎影片等多项大奖，10 月在韩国本土上映后，以仅 10 亿韩元（约 450 万人民币）的制作成本拿下 20 万人次观影的成绩，成为韩国独立电影的票房奇迹。目前该片豆瓣已有 8.5 万人打出 9.2 分，被不少观众评为近年最值得看的东亚女性题材电影。尹佳恩导演一向擅拍儿童，早获奉俊昊力赞为下一代大师级人马，此次探索少女内心幽微更见精准细腻，新人徐粹彬的演出展现惊人层次和魅力。看似平凡的青春日常，幻化成对创伤、韧性和连接的动人描绘，悄无声息地撼动心灵。本期节目，我们请到了两位嘉宾：来自中国传媒大学戏剧影视学院的研究韩国电影的范小青教授，以及影评人玄子老师。我们会从两位嘉宾截然不同的观影感受切入，探讨这部打破传统性侵受害者叙事的作品，其独特的创作视角与争议点所在。在播客中，我们会分析导演尹佳恩如何以“去凝视”的手法，将镜头从性侵事件本身转向幸存者的日常生存。同时，我们也会梳理 2019 年以来韩国女性电影的发展脉络，聊聊“MeToo”运动后韩国女性创作者的转向，以及韩国电影振兴委员会对独立女导演的扶持体系。此外，我们还会结合中韩不同的社会语境，讨论观众对“坚强受害者”形象的期待误区，以及普通人可以为性侵议题做哪些公共性的行动。最后，两位嘉宾也分享了各自心中值得一看的韩国女性题材佳作。本期主持人：海带岛做书，译书，办影展。豆瓣 @海带岛本期嘉宾：范小青中国传媒大学戏剧影视学院教授，博士生导师弦子 影评人，播客：世代女性随想曲时间轴：00:00:09 开场介绍嘉宾与影片《世界的主人》基本背景00:03:05 弦子分享差异化观影感受：高期待下的保留意见，及社工经验带来的性侵议题敏感度00:07:06 揭秘影片制作成本与韩国票房奇迹：450 万人民币成本斩获 20 万人次观影00:11:53 弦子提出核心争议：影片未展现受害者背后的社会支持系统，童年创伤情感处理过于简化00:25:26 范小青回应创作视角：聚焦“事件之后”而非“事件本身”，打破 "受害者只能悲惨" 的刻板叙事00:29:19 分析影片叙事巧思：以青春片外壳切入，用去凝视手法还原普通高中生的生存状态00:43:34 梳理 2019 年韩国女性电影崛起脉络：MeToo 运动与 Netflix 入局带来的产业转向00:50:26 讨论影片意象与细节：清理垃圾互助会的隐喻、洗车房哭戏的空间设计01:00:25 讨论加害者的叙事伦理：刻意隐去形象与信息，拒绝给施害者任何话语权01:07:25 盘点导演尹佳恩的创作背景：历史系出身，擅长捕捉儿童与青春期的复杂情感01:16:54 介绍韩国独立女导演扶持体系：电影振兴委员会多级资助与贝克戴尔选择奖的推动01:24:00 探讨低预算电影的视听语言：朴素表达与情感传递的平衡01:28:24 嘉宾推荐环节：分享值得关注的韩国女性题材电影与剧集涉及电影：《世界的主人》（尹佳恩，2025）《我们的世界》（尹佳恩，2016）《我们的家园》（尹佳恩，2019）《素媛》（李濬益，2013）《熔炉》（黄东赫，2011）《诗》（李沧东，2010）《韩公主》（李铢真，2013）《82 年生的金智英》（金度英，2019）《燃烧》（李沧东，2018）《嘉年华》（文晏，2017）《生日》（李钟言，2019）《广岛之恋》（阿伦・雷乃，1959）《微弱的声音》（边永柱，1995）《我的心没有碎》（安海龙，2007）《小公女》（全高云，2017）《蜂鸟》（金宝拉，2018）《姐弟的夏夜》（尹丹菲，2019）《我能说》（金炫锡，2017）《酒神小姐》（李在容，2016）《老妇人》（林善爱，2019）《致敬》（申秀媛，2021）短片：《豆芽》（尹佳恩，2013）《客人》（尹佳恩，2011）剧集：《爱麻夫人热映中》（李海暎，2025）书目：《韩国电影 100 年》（范小青）《房思琪的初恋乐园》（林奕含）《父权制与资本主义》（上野千鹤子）本期使用音乐：开场：IX_ Schafe können sicher weiden (Arr_ for Piano) - Khatia Buniatishvili / Johann Sebastian Bach结尾：Sheep May Safely Graze BWV208 - OOSG制作团队监制：Peter Cat统筹：阿莫多瓦特了/海带岛策划：海带岛 剪辑：橘子皮编辑：橘子皮
This Week In Startups is made possible by:Grasshopper Bank - https://grasshopper.bank/twistPaperOS - https://paperos.com/twistLinkedIn Jobs - https://linkedIn.com/twistPlaud - https://Plaud.ai/twistThe top 5 U.S. venture firms captured 73% of all LP commits in Q1, and three veteran VCs say the math may have officially broken. Aleph's Michael Eisenberg argues we may be witnessing the end of a 60-year run for venture capital as a craft business. Maniv's Mike Granoff and Oxcart's Larry Covert push back, arguing it's merely splitting into two asset classes: "Consensus VC" and traditional VC. Either way, the implications for founders, LPs, and the next decade of innovation are enormous.TWiST is back on the beat with a venture round table discussing investment concentration, the IPO drought, "bullshit ARR" in the AI era, AI gross margins, the U.S.-China chip war, the Iran conflict's impact on defense tech, the death of NATO and the rise of allied supply chains, why Tel Aviv's stock exchange could become the next NASDAQ, and a lightning round on each VC's favorite portfolio company. Let's go!Timestamps:0:00 Intro + sponsor reads (Grasshopper Bank, PaperOS, LinkedIn Jobs)0:58 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!2:13 Introductions: Eisenberg (Aleph), Granoff (Maniv), Covert (Oxcart)3:57 The impact of rising venture capital concentration6:43 "We may be witnessing the end of venture capital"9:17 Consensus VC vs. Traditional VC10:01 LinkedIn Jobs - Hire right, the first time. Post your first job and get $100 off towards your job post at https://LinkedIn.com/twist11:48 Why mid-size firms beat the behemoths on founder access19:35 Coining "Consensus Colossal Collaborative Capital" (CCCC)20:03 AngelList's USVC retail VC fund — does it help mid-size funds?20:18 PaperOS - Whether you're raising a round, launching a fund, or managing a venture portfolio, PaperOS can unlock simplicity and scale across your empire of capital, contracts, and companies. Claim your $10,000 credit at https://paperos.com/twist23:27 Are there more breakout startups today than 5 years ago?28:36 The "bullshit ARR" problem and AI gross margins30:03 Grasshopper Bank - Time is money. Don't waste either. Go to https://grasshopper.bank/twist and get an exclusive $500 cash bonus just for opening an account.32:08 Cursor's negative gross margins and the hyperscaler funding flywheel33:06 Are we all electron constrained?35:35 Are we headed for surge pricing on compute?40:22 Will anything replace NVIDIA? NextSilicon, Hailo & Israel's chip stack43:33 Distillation, small models, and Apple's edge advantage46:38 Public trust in AI: should government mandate Waymo & FSD?1:02:58 Defense tech: Saronic, Anduril & the coming defense M&A wave1:06:35 The Iran war timeline & supply chain impact1:18:52 Lightning round: Jiga, Divergent, Volaback, Firehawk, HarbingerSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
The Trump administration discussed an EO to form an AI oversight working group, a stark reversal from its hands-off approach. Apple explored using Intel and Samsung to make chips in the US, Coinbase cut 14% of its workforce, and OpenAI fast-tracks an AI phone for 2027. Sources: the Trump administration is discussing an EO to form an AI working group that would examine AI oversight procedures, like vetting models before release (NYT) Sources: Apple held exploratory talks with Intel and Apple executives visited a Samsung plant in Texas to explore producing core chips for its devices in the US (Bloomberg) Coinbase CEO Brian Armstrong announces the company is cutting ~700 jobs, or ~14% of its global workforce, to reduce costs, saying "AI is changing how we work" (Reuters) Meta is using AI on Facebook and Instagram to detect under-13 users by analyzing bone structure, height, and visual cues, but says it's "not facial recognition" (The Verge) Kuo: OpenAI appears to be fast-tracking its AI agent phone with two NPUs and a custom MediaTek Dimensity 9600 SoC, targeting mass production as early as H1 2027 (Ming-Chi Kuo) ElevenLabs raised $550M+ in its Series D, up from a previously announced $500M, adding BlackRock, Nvidia, and others as investors; its ARR passed $500M in Q1 (Tech.eu) Source: YC owns ~0.6% of OpenAI, which was seeded by a YC offshoot called YC Research in 2016; at OpenAI's current $852B valuation, the stake is worth $5B+ (Daring Fireball) Learn more about your ad choices. Visit megaphone.fm/adchoices
Clif Holland shares a father-and-son motorcycle adventure that took an unexpected turn shortly after arriving at Big Bend National Park. After a 700-mile ride to reach the start of their backcountry route, the decision to explore before staging their gear set the tone for what followed. Riding a heavily loaded BMW R1200GS on remote backroads, Clif quickly found himself facing the challenges of sand, weight distribution, and the limited margin for error on big adventure bikes, which led to DEEP TROUBLE. We talk about backcountry riding and the importance of preparation, training, and testing your setup before tackling routes like the BDR.
Vous avez l'impression de passer après tout le monde… et de ne plus savoir quels sont vos vrais besoins ?Arrêter de s'oublier, ça commence par une chose simple : comprendre ce qui compte vraiment pour vous.Dans cet épisode, je vous propose un test pour identifier vos besoins réels. Pas ceux que vous pensez “devoir” avoir, mais ceux qui influencent directement votre bien-être, vos émotions et vos relations.Parce que quand vous êtes déconnecté·e de vos besoins, quelque chose se dérègle : vous compensez, vous vous épuisez, ou vous avez le sentiment de ne plus être vraiment à votre place dans votre propre vie.À travers 10 questions simples (mais profondes), vous allez pouvoir faire un état des lieux clair et nuancé de votre situation actuelle, et surtout comprendre par où commencer pour arrêter de vous oublier.Ce que vous allez apprendre : • Pourquoi il est si difficile d'identifier ses besoins (et en quoi ce n'est pas un problème individuel) • Comment reconnaître les signes que vos besoins ne sont pas satisfaits • Les 10 dimensions essentielles à explorer pour retrouver de l'équilibre • Comment utiliser vos réponses comme une boussole pour transformer votre quotidienCet épisode va vous aider à remettre de la clarté là où tout semble flou, et à faire de la place pour vous, concrètement.NB : Il manque la question 8 dans l'épisode, voici le complément en vidéo : https://youtu.be/mCL_729kHfgVous pouvez aussi :
Jacquelyn Goldberg, VP of Sales at Unframe AI, joins John Golden on Sales POP! to explain why resume pedigree is a shakier hiring signal than ever and why she screens for grit and intellectual curiosity instead — lessons she's used to scale her team to multi-million ARR in under a year at a Series A AI startup. Full conversation and more on Unframe's managed AI delivery platform at https://www.unframe.ai/.
This week is another cautionary tale because most of us don't have a 300 Million in ARR like ClickUp.https://vizzex.ai/the-clickup-seo-autopsy/Last week's episode: https://www.confessionsofanseo.com/podcast/the-1-club-achieving-gemini-induction-in-the-age-of-compute-tax/Mentioned in the show:https://contentlevers.xyz/blog/clickup-blog-traffic-dropVizzEx - Subscribe to Confessions of an SEO™ wherever you get your podcasts. Your subscribing and download sends the message that you appreciate what is being shared and helping others find Confessions of an SEO™An easy place to leave a review https://www.podchaser.com/podcasts/confessions-of-an-seo-1973881You can find me onCarolyn Holzman - LinkedinAmerican Way Media Google DirectlyAmericanWayMedia.com Consulting AgencyNeed Help With an Indexation Issue? - reach out Text me here - 512-222-3132Music from Uppbeathttps://uppbeat.io/t/doug-organ/fugue-stateLicense code: HESHAZ4ZOAUMWTUA
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Amjad Masad is the Co-Founder and CEO of Replit, one of the leading "vibe-coding" platforms. Under his leadership, Replit has raised a total of $922 million in funding, recently raising at a whopping $9 billion valuation. Replit has over 50 million registered users and is used by employees at 85% of Fortune 500 companies. Replit's revenue jumped from $10 million to $100 million in nine months, and the company is on track to reach $1BN in ARR by the end of 2026. AGENDA: 00:00 — Why Coding Models are Hitting a Performance Plateau 07:21 — Is Most of the Value of Replit Not Anthropic Model Quality? 10:04 — Why Did Replit Decide to Not Build Their Own Model, Like Cursor Did? 11:58 — Why Product Quality Must Always Beat Cost Optimization 14:51 — How Do Replit Choose Which Model To Route To For Different Tasks? 24:43 — The SaaS Apocalypse: Why it is Fair and Just? 29:55 — What Will the Cost of Tokens Be in 5 Years? 31:09 — Is Cursor Dead? Debunking the Twitter Narrative 33:36 — Are IDEs Dead? 35:54 — Should Students Still Study Computer Science? 42:47 — Are US Companies Using CCP Subsidised Open-Source Chinese Models 56:59 — What Do No Founders Know About True Product-Market Fit
Luuk and Emma from the Netherlands are passionate dual-sport riders who have made it their mission to find that sweet spot between minimalist motorcycle travel and meaningful challenge. Riding their Honda CRF300L motorcycles, they're currently pushing themselves to travel as light as possible — aiming for just 9 kg of gear per person — while still tackling terrain that stretches their skills.
When the front tire starts to lose traction or the bike suddenly feels like it's about to go down, most riders react with some kind of defensive move that feels instinctively right. But is it? In this Rider Skills episode, Clinton Smout joins Jim Martin to look at what's really happening in those split-second moments when an adventure motorcycle starts to let go off-road — and why what feels like a save may not be one at all.
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