#2013 MOMENT SKIS CODE#
AI now outperforms humans in image recognition, reading comprehension, language understanding, and code generation. Consider what’s happening in AI: the visualization below does a good job showing just how dramatically AI has improved over the past few years. We’re now-finally-in the early innings of new technology epochs. Neither mobile nor cloud are saturated, and there are plenty of opportunities left to seize, but neither is as ripe for greenfield business creation as it once was. AWS launched in 2006 the iPhone came out in 2007. Much of the hype surrounding new technologies and vaunted “platform shifts” derives from anxiety around mobile and cloud being…old. The percentage of corporate data stored in the cloud doubled from 2015 to 2022. Emergent companies-again, each founded between 20-included Slack and Airtable, Stripe and Plaid, Snowflake and Databricks. Each was founded between 20.Ĭloud, for its part, underpinned an explosion in software-as-a-service (SaaS) and enabled data to become the most prized resource in a business (“Data is the new oil” and all that). Mobile facilitated the rise of large consumer internet companies: Uber and Lyft, Instagram and Snap, Robinhood and Coinbase. These are years-long trends: sustainability bleeding into e-commerce increased loneliness and deteriorating mental health a migration to more self-directed, flexible online work.įor the past ~15 years, two forces have powered the lion’s share of startup growth: (1) mobile, and (2) cloud. We’re finally seeing the digital natives come of age: Gen Z is the largest generation in the world-two billion members comprising 30% of the world’s population-and the generation commands $360B in spending power, up from $143B just four years ago (36% compound annual growth rate).Īs the digital natives come of age, they do so with radically new behaviors formed by growing up in a cyber-infused world. I often say that the best part of being an early-stage venture investor is that it allows you to be an anthropologist of sorts-to study humans and to examine how tastes, preferences, and worldviews evolve over time. (I often think of the Marshall McLuhan quote: “We shape our tools and thereafter they shape us.”) This interplay between tech and humanity becomes more complex and more interesting with the younger generation, the digital natives (hence the name!). More specifically, it’s about how people shape technology, and how technology shapes people. With that, let’s jump into Daybreak and the current state of venture capital 👇ĭigital Native is as much about people as it is about technology. I also believe that the best ideas are pressure-tested and debated, and I expect that tapping this community of 50,000+ will further refine my vision and ultimately allow me to build a more successful, innovative franchise. Part of Daybreak’s thesis is to bring venture capital into the next generation, and my view is that the tech and investing worlds need more transparency, not less. I’ve always been a believer in building in public, and this path felt right to me. But there’s another path, Rule 506(c), that allows a fund manager to publicly talk about a fund in parallel with fundraising. The industry norm is to wait to talk about a fund until the fund closes this is because firms can’t generally solicit investors or advertise for a fund under the regulations relied on by most firms. The prompt: “A person at daybreak, looking into the dawn from a mountaintop, connotes optimism and possibility, photorealistic, high-resolution and 4K.” This image was AI-generated with Midjourney.
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