Keep pulling the thread on Victor Lazarte.
Victor Lazarte predicts that a company started within the next three years will achieve a trillion-dollar valuation.
The usage of Large Language Models (LLMs), measured in flops, has grown 100x over the last two years from approximately one exaflop to one hundred exaflops.
Victor Lazarte asserts that the next major user interface shift for businesses will be AI agents, allowing customers to interact with a company as if speaking directly to the business owner.
Victor Lazarte predicts that within five years, the entity that understands most people best will be an AI.
Brex grew from zero to $100 million in revenue within 18 months of its launch.
Mercor grew its revenue from $1 million to over $100 million in 11 months.
Victor Lazarte believes the old SaaS investing heuristic that reaching $10 million in revenue signifies a category winner is no longer true.
A key question in Benchmark's investment diligence for AI companies is whether the company's value increases or decreases as foundation models improve.
Victor Lazarte believes the most exciting opportunity in venture capital is investing in companies that use AI to replace human knowledge workers.
Victor Lazarte believes the most interesting current development in AI is the shift to a third stage of model training focused on pure Reinforcement Learning (RL).
Victor Lazarte states that AI companies are targeting the $10 trillion U.S. labor market, a much larger opportunity than the $1 trillion software market.
Victor Lazarte predicts that only 1% of current knowledge work, defined as work done behind a computer, will still exist in 10 years due to AI.