Keep pulling the thread on David George.
The best-performing fund in the history of Andreessen Horowitz is a $1 billion fund.
In Andreessen Horowitz's best-performing fund, portfolio company Databricks has returned 7 times the entire fund size to date.
In Andreessen Horowitz's best-performing fund, portfolio company Coinbase has returned 5 times the entire fund size in distributed paid-in capital (DPI).
An analysis of the top 50 IPOs from 2017 to 2025 by Andreessen Horowitz found that 53% of the total value gain occurred at the Series C stage and later, while 47% occurred between the seed and Series B stages.
The return on invested capital (ROIC) of the Russell 2500 index has steadily declined from 7.5% to 3% over the last 30 years, indicating a deterioration in the quality of public small-cap companies.
Truck brokerage firm C.H. Robinson saw a 40% productivity increase, measured in shipments per person per day, since the end of 2022 due to AI implementation.
As a result of AI-driven productivity gains, C.H. Robinson's operating margin increased by 680 basis points.
Andreessen Horowitz has changed its view from believing AI models would subsume all software to now believing a large ecosystem of application software companies will be built on top of models.
Data shows that Waymo's autonomous vehicles are 7 to 10 times safer than a human driver.
David George predicts that robotics will become the largest category within AI, spanning both B2C and B2B markets.
The private markets have grown tenfold in the last 10 years, reaching a total market capitalization of over $5 trillion.
Top-performing venture capital funds have historically outperformed top-performing private equity funds, and this performance gap is expected to widen over the next 10 years due to the impact of AI.