a16z Live

Finding and backing companies that can reach escape velocity is the name of the game over here at a16z Growth—but picking those winners is far from easy. David George, head of the a16z Growth fund, sat down with the I/O podcast to discuss his mental models for growth-stage investing, what it really takes to go public, where AI is today and where it’s headed, and more. [00:03:19] What makes Andreessen Horowitz different[00:08:29] David's mental model for investing[00:18:23] Focusing on inputs, not outputs[00:26:52] What constitutes a growth company?[00:29:14] David's three investing frameworks[00:36:45] How to measure the ROI of R&D[00:42:15] What it takes to go public today[00:46:43] AI: market structure and infrastructure vs. application layersTo read a transcript of this conversation, click here. 

In this conversation with a16z general partner David George, Scale AI founder and CEO Alexandr Wang discusses the three pillars of AI—models, compute, and data—and how creating abundant data is core to the evolution of gen AI. With Scale’s work across enterprise, automotive, and the public sector, Alex is also building the critical infrastructure that will allow any organization to use their proprietary data to build bespoke gen AI applications. In addition to talking about frontier data, Alex also shares his learnings from the growth of Scale, his approach to leadership, and what he thinks growth-stage founder/CEOs tend to get wrong about hiring.  Read more, including a full transcript, here: https://a16z.com/frontier-data-foundries-alex-wang-scale-ai/Timestamps: [00:00:58] How frontier data will change gen AI [00:08:47] Are big tech companies over-investing in AI? [00:14:39] Where the best AI businesses will thrive [00:17:05] How enterprise businesses are approaching AI adoption [00:19:50] What does the next phase of gen AI products look like? [00:23:23] Alex's approach to scaling Scale [00:25:36] The founder fallacy [00:30:12] MEI and how Alex views talent acquisition

a16z general partner David Haber talks to John Stecher, Chief Technology Officer at Blackstone, where he advances cutting-edge technology, heads up innovation investing, and advises the firm’s investment teams and portfolio companies. The conversation covers how he decides whether to build tech in-house or partner with startups, what qualities he’s looking for in early stage companies, and how he sees AI impacting real estate, credit, energy, and ecommerce.0:00-1:05 Intro1:06-3:55 Changes in finance x tech over the past 2 decades3:56-5:06 Investing in "themes" across asset classes5:07-7:00 What the CTO role entails 7:01-9:00 "Build it" vs. "buy it": trade-offs9:01-11:57 Advice for early stage companies11:58-16:37 Ways Blackstone is incorporating generative AI16:38-17:46 How AI changes the role of an analyst17:47-21:04 Gen AI's impact on private equity, real estate, credit, more 21:05-22:54 How Blackstone will evolve over the next five years22:55-23:26 OutroPlease note that the content here is for informational purposes only; should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

a16z general partner David Haber and fintech partner Marc Andrusko talk to Tim Karpoff, the Global Head of Strategy at Citi, where he guides the bank’s core focus areas, as well as future investment in emerging tech like AI. The conversation covers the shifting landscape of banking policy and regulation, the increasingly important role startups are playing in partnership with big banks, and where Tim disagrees with the zeitgeist when it comes to the adoption of AI in financial services.0:00-1:05 Intro1:06-2:28 Navigating bureaucracy2:29-4:26 What "chief strategy officer" entails 4:27-8:18 Citi's role in the banking ecosystem8:19-9:16 Fallout from the 2023 banking crisis9:17-13:10 Citi's revised risk controls and tech investment13:11-14:59 How Citi works with startups15:00-20:00 Citi's future: AI and regulation20:01-23:33 What people get wrong when it comes to AI 23:33-24:12 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Waymo co-CEO Dmitri Dolgov joined a16z general partner David George to discuss how Waymo is using genAI to help them build safer, sustainable, and more accessible transportation. In the conversation, Dmitri talks about the potential of embodied AI, the value of simulations and building training data, and his approach to leading a company focused on solving the challenges of building AI that can navigate the real world.[00:01:22] The early days of autonomous vehicles[00:05:27] Layering genAI into traditional AI/ML[00:09:42] The value of simulation[00:15:56] The hard part about integrating AI in autonomous systems[00:22:45] AI in the real world[00:28:47] Where does Waymo go from here?[00:37:21] Dmitri's learnings from hard problemsThis conversation is part of our AI Revolution series, which features some of the most impactful builders in the field of AI discussing and debating where we are, where we’re going, and the big open questions in AI. Find more content from our AI Revolution series on www.a16z.com/AIRevolution.

As genAI expands through the enterprise, many leaders are figuring out how to evolve their genAI prototypes into production-ready tools. Pinecone CEO Edo Liberty and LangChain CEO Harrison Chase discuss which parts of the stack to build or buy, how to improve out-of-the-box models by helping customers select and ingest the right data, and picking the right partners to scale genAI applications with a16z Growth General Partner Sarah Wang.[00:02:16] Navigating the gap from prototype to production[00:07:03] How to educate partners on genAI tools and capabilities[00:11:38] Deciding whether to build or buy[00:17:36] Successful implementations of genAI[00:21:20] Balancing enterprise and open-source community needs[00:23:06] Balancing short-term revenue gains with long-term vision[00:25:18] Picking the right partners to scaleFor a transcript of this episode of a16z Live!, click here. 

In this episode, which took place at a16z's Connect Fintech event, a16z General Partner David George interviews Capital Group's Mark Casey on his investment philosophy, what sends him into what he calls "barnacle mode," his preference for customer-focused North Star metrics, and more.  0:00-1:42 Intro1:42-5:58 Approach to investing5:58-8:20 What Casey told Jeff Bezos, and what he learned8:20-12:57 How CEOs communicate with public market investors; unconventional North Star metrics12:57-15:48: Why Casey loves dividends15:48-20:44 Macro trends and investing theses20:44-21:37 Ecommerce predictions 21:37-23:15 Opportunities and choke points in AI23:15-25:18 What makes a great public company?25:18-26:04 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In this conversation, which took place at a16z's Connect Fintech event, a16z General Partner Angela Strange, Plaid CEO and cofounder Zach Perret, and Marqeta CEO Simon Khalaf discuss how AI will shape the future of banking, the battle between payment rails in the U. S., and how there's still opportunity to transform the basic credit card into a fully digital product. 0:00-1:42 Intro1:42-1:56 Topics: Generative AI, payment rails shift, and regulation in open banking and sponsor banking1:56-4:46 GenAI's potential impact on credit modeling and fraud4:46-7:09 Implications of payment products becoming digital products ("The open face of the internet")7:09-8:33 Why brands need to embed finance, and why every company will eventually be a fintech company8:33-11:01 The card vs. pay-by-bank debate11:01-12:24 New infrastructure to combat fraud12:24-17:27 Reassessing traditional "top-of-wallet" tactics and longstanding business models17:27-20:04 Potential implications of Visa/Mastercard antitrust suit20:04-24:12 Regulation around open banking and sponsor banks24:12-24:40 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In a new episode of In the Vault, a16z General Partner Angela Strange talks with Jeff Sloan, former CEO of Global Payments, about how he was early to spot significant industry trends, how to make bets that move an organization, and the sea change that AI represents for the financial services industry. 0-1:40 Intro1:40-8:15 Joining Global Payments8:15-19:30 Placing many bets19:30-26:10 Deal integration and scale advantage26:10-31:35 GenAI sea change31:35-32:19 Outro Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In a new episode of In the Vault, a16z General Partner David Haber talks with Marty Chavez, a partner and vice chairman of Sixth Street Partners, about the foundational role he’s had in merging technology and finance throughout his career, and the magical promises and regulatory pitfalls of AI. 0-1:30 Intro1:30-12:50 Marty's history and transition to Wall Street12:50-20:50 Financial Crisis and SecDB20:50-32:10 GenAI's impact32:10-36:15 AI and biotech36:15-37:06 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In a new episode of In the Vault, a16z General Partner David Haber talks with Marco Argenti, the chief information officer at Goldman Sachs, about bringing fintech processes into financial services, turning developers into clients, and how AI is a major inflection point in the history of technology.0-1:30 Intro1:30-12:05 From tech to financial services12:05-17:30 Turning developers into clients17:30-23:50 GenAI and productivity23:50-28:50 The future of financial services28:50-29:31 OutroPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In this SaaS era, partnering with no one means competing with everyone. How the best companies take advantage of ecosystem-led growth—or where they sit in the SaaS ecosystem to improve acquisition, expansion, and access to new markets, as discussed by a16z general partner Sarah Wang and Crossbeam CEO Bob Moore.[00:01:43] The birth of ecosystem-led growth[00:05:12] The data revolution in partnerships[00:12:46] Integrating ecosystem-level GTM motions[00:16:29] Bob's founder history[00:24:30] Ecosystem-qualified leads and new opportunities[00:29:34] ELG as AI force multiplierFor a transcript of this episode of a16z Live!, click here.

CEO of Quora Adam D’Angelo discusses how building infrastructure for creators can democratize AI, in conversation with a16z’s David George. [01:07] Social networks as compliment to AI[03:59] Poe: bringing AI to the masses[05:51] The future of AI is multi-model and multimodal[08:11] Is the model the product?[11:31] Building AI infrastructure for creators[13:41] Navigating platform shifts[16:02] Sharing human- and computer-generated knowledge[17:43] Knowledge sharing on the internet[20:41] The benefits of scale for AI[21:59] Competing on scale or feature differentiation[25:01] Fault tolerance as a wedge for startupsThis conversation is part of our AI Revolution series, which features some of the most impactful builders in the field of AI discussing and debating where we are, where we’re going, and the big open questions in AI. Find more content from our AI Revolution series on www.a16z.com/AIRevolution.

Hiring the right executives at the right time is the key to scaling your company. But to many founders, the executive search and hiring process can feel like a black box. a16z talent partner Matt Oberhardt dives deep into the executive search process with Kelli Dragovich and Nolan Church on the HR Heretics podcast.[00:01:21] How a16z talent partners assess talent[00:03:42] Balancing internal and external roles[00:04:57] Measuring success in talent assessment[00:06:07] The MOC[00:10:29] Whiteboard sessions for assessing fit[00:13:10] Referencing as a continuous cycle[00:16:47] Putting negative references in context[00:20:25] Assessing personal growth vs. mistakes[00:21:50] Establishing trust with founders[00:25:03] Vetting EQ[00:26:53] Measuring success of what you can't control[00:28:43] Why hire veterans for startups[00:33:45] Talent landscape in 2024[00:35:20] Recruiting top talent in a tight market[00:38:42] Hiring the "operational glue"[00:39:36] The value of tough feedbackYou can read the key takeaways from this conversation, along with a transcript, here.

Respecting privacy and building trust with communities is essential to effectively integrate technology into public safety. a16z general partner David Ulevitch, Flock Safety’s Garrett Langley, and Las Vegas Metropolitan Police Department Sheriff Kevin McMahill discuss how to build and implement products that communities can trust.[00:01:22] Flock Safety's impact on public safety[00:05:50] Building trust through tech[00:08:23] How Flock Safety builds its product roadmap[00:11:06] Drones as first responders[00:15:46] Data privacy and protection[00:19:05] How the Las Vegas Metropolitan Police Department rolls out new technology[00:21:11] AI, robots, and the future of tech in public safetyThis conversation was recorded at a16z’s 2023 LP Summit. To read a transcript of this talk, click here.

In this episode, a16z partner Seema Amble talks with Dimitri Dadiomov, the co-founder and CEO of payment operations platform Modern Treasury, about the challenges of creating a new category, hiring for marketing before you hire for sales, and why developing new features is similar to birding.0:00 - 1:20 Intro1:20 - 8:55 The founding of Modern Treasury8:55 - 15:28 First customers15:28 - 20:07 Building trust20:07 - 32:00 Creating a category32:00 - 35:28 Advice for founders/Outro

In this episode, a16z partner Seema Amble talks with Zach Perret, the co-founder and CEO of Plaid, about how Plaid built a community in the early days to acquire customers, how they tracked “free radicals,” and how to orient your first customers around speed. 0 - 1:09 Intro1:09 - 9:57 Plaid history9:57 - 16:39 First customers16:39 - 26:45 Pricing philosophy26:45 - 29:27 Boring as a brand29:27 - 33:01 Advice for founders/Outro

In this episode, a16z partner Seema Amble talks with the founder and current executive chairman of Marqeta Jason Gardner about what it means to be welded to your customer and how to expand in multiple verticals.0:00-1:10 Intro1:10-6:01 Marqeta's beginning6:01-9:15 First customers9:15-16:25 "Magic" product market fit16:25-24:58 Building customer relationships/Pricing24:58-32:18 Advice for founders

In a new episode of My First 16, a16z partner Seema Amble talks with co-founder and CEO of Pilot Waseem Daher on how he thought about the importance of charging, how secondary signals often matter in an area like accounting, and never stepping away from doing founder-led sales. 0:00 - 1:45 Intro1:45 - 6:36 Pilot's beginning6:36 - 13:25 First customers13:25 - 18:02 Pricing18:02 - 25:29 Building a GTM team25:29 - 27:58 Advice for founders/Outro

Sales wants more features. Product gets bogged down with one-off requests. Progress and growth grinds to a halt. It's a familiar story. How Segment turned the sales-product tension into a successful $3.2B acquisition, as told by the former CRO Joe Morrissey and former chief product development officer Tido Carriero.[00:01:29] Joe's start as CRO[00:03:40] The low point: annual planning[00:07:59] Building a more focused product roadmap[00:10:57] Why GTM feedback is essential to building great product[00:13:04] Identifying value drivers in 48 hours[00:19:11] How technical should sales be?[00:20:44] How annual planning changed day-to-day operations[00:22:57] Segment's Lighthouse program[00:24:54] Reorging to deliver on new product priorities[00:27:14] How engineering helped develop the product roadmap[00:29:18] Leading a platform initiativeThis conversation was recorded at ELC 2023. To read a transcript of this conversation, click here. For more about value-based selling and moving upmarket, check out Getting Ready to Move Upmarket and The Key to Selling in a Downturn. .