17 Burst results for "Andriessen Horwitz"

"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

Christopher Lochhead Follow Your Differentâ„¢

03:45 min | 1 year ago

"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

"Of the executive team in a growth agenda that is clear and concise and believable and hopefully hopefully executed. You gotta put on your big girl pants right. And I think there's a lot of that it's good and the other one. I'd be curious to get your reaction to is is even though I know in some of these quote unquote private. IPO's there've been opportunities for employees to sell I think the employee's really gotten a shaft a lot of this because the reality is the way they monetize their risk is with an IPO. And maybe they can sell something and you know series affect two billion at a private round or whatever but it's it's still not the same as an IPO and it doesn't have the level of flexibility over time and they can't set up selling programs or you know there's just a they're hamstrung and they're not able to monetize it and I think I think employees make a trade right. We asked them to make that trade trade in bed on the dream and so I think a lot of them. Frankly you tell me if this is unfair but a lot of young sales people and engineers and product managers and you the people doing real work of Kinda got in on this. Yeah so I I agree with. I agree with both comments. Ubaid which is what is look hundred percent agree with the level of discipline discipline and Maturity that is required to being a pub company. And yes I hear you too. I agree with you to look there's downsides to it but I think that's an important evolution for companies and obviously we were were. Were missing out a referring more of that. Obviously as these companies say private I also actually Agree hundred percent with you on the employee side. And and you're right which is kind of these partial tender offers. Where yes you know? I've been at the company. For a couple years. I can sell ten percent of my holdings once a year. You know issue said kind of in the series offend you know. Those are nice things but I agree. They're not sufficient substitutes for having a public currency where I can set up a training program or you know kind of I can actually get liquidity. The at times that I think are important for my family The interesting piece on that one. Is I think that actually is what is going to. That's what's putting a limiter on actually the length. Thank time these companies can stay private. I think we've kind of reached the outer limits at ten or twelve years as to what employers are willing to accept and it's not just by the way existing employees as but it's also the ability of these companies at that stage to build recruit new employees right. Because you can imagine right if you were I don't know just pick one. That's not our portfolio. So it's easy if you were. Are you know Uber trying to recruit people before you went public as attractive as it might be to work at Uber. If you're looking to join Uber. Six or nine months ago you're probably we also looking at facebook or Google. You're looking you're in that category of kind of companies that are more comparable as opposed to. You're not looking at a series company probably at that stage if you're a candidate Uber you. It's a twenty three billion dollars business and it is interesting that a lot of those companies are having trouble competing against the public companies precisely because of the issue. You mentioned that restricted stock units are issues of course become a very big part of public company compensation and no matter how attractive. You might think uber our issues are if they're not liquid. It's a really hard our trade off to make so I I. I think you're absolutely right. I think the market is starting to realize this and that will I think it leads kind of put a governor on you know you know whether we can actually stand these companies out for rip to be private as long as they happen and look I. It may not be something that people like to talk about. But I don't know you tell me if this is unfair. The stock option had a lot to do with the the making of Silicon Valley. Because in my mind what the stock option did. Was it allowed more more. If you will democratization of entrepreneurship that is to say you. And I come up with a crazy dream idea and to your point on being a good story we managed to convince a.

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"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

Christopher Lochhead Follow Your Differentâ„¢

12:57 min | 1 year ago

"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

"You needed five million dollars in venture capital to buy Sun servers and handle the websites. And you know who shot Ya custom build shopping carts and shit you know I mean it was a massive technology investment before you can even start building your thing. Yeah I agree you know. We were myself Mark Andrews in bed Hornets were at this. This company loud cl- right that the that the two of founded in one thousand nine hundred and it's exactly that and which is we. We raised venture capital money and basically we handed all that money over exactly eight to Sun. Microsystems Oracle by database licenses to EMC device servers. Excuse me storage to Cisco by networking gear and I've joked it was almost as if the the startups were effectively. Money Laundering. Yeah they were the mechanism by which venture Cap- laundered money through the startups into the big cap tech companies. And you're absolutely right today. You know none of our companies are doing that. Nobody's buying infrastructure. Everything is kind of Auburn expense pay-as-you-go model and I agree with you wishes. which is I think? It's hard to underestimate the impact that has on the business and what that means in terms of people being able to kind of get something off the ground for relatively low amounts of capital and quite frankly experiment and see if it works and you know a lot of these things we know won't work but that's okay. The process of kind of natural selection experimentation is really important part of entrepreneurship. I mean it used to cost over a million dollars to build a content website like a basic corporate website. Yeah it's amazing right It's incredible so the the the the Economic Opportunity Than means the entrepreneur can focus at that whatever the thing is whatever. The application is whatever I devices whatever the whatever it is right as opposed to all the underlying technology that didn't used to exist and so yeah I just. I couldn't agree with you more. I think it's the most exciting time in history to be an entrepreneur and particularly to be an Oscar using technology. And frankly if you're not if you're not you're not using technology. I don't know you might. You might do you. You might want to double click on that. That's what if that's where you are Yup and so are there particular areas that you guys are particularly focused on or thinking about yes so the art business We've been investing on this one team for the last ten years You know We've written about by Park road about it. Called software is eating. The world has basically kind of been in our one theme and what that means to us. Is You know we view software as this very horizontal technology and quite frankly. Our job is to see what entrepreneurs are doing with software and what vertical industries. They think are most interesting to apply software to and we need to be open minded enough to listen to what they're doing quite frankly do the work and do the diligence once we we see what they're doing so that's led us into things like financial services you know Applications for software We've got you know drones. We've got you know autonomous vehicles all kinds of stuff like that. I say the stuff. That's most interesting right now. That that we're doing is around the intersection of software with life sciences and I briefly mentioned the last question. which is this idea that you know the traditional way of doing drug discovery for example of having this very kind of wet lab scientific based approach to now being augmented by you know at a minimum kind of just computation? And then you know even more significantly things like machine learning right where you can actually almost you know A use the computers to kind of INTUIT. What is it about? You know kind of a particular disease or something that might actually be drug -able and things and it just in a very different way than we've done before for that to me is just fascinating. I think he's a huge opportunity certainly from financial perspective but importantly from a societal perspective. If you think about you when I both live in the bay area so we're lucky enough to have access to fantastic medical institutions and university hospitals. Who got all this wonderful technology but the vast majority of the US and the World World Limited environments where just don't have access to that level of care in the more we can actually figure out ways to deliver care you know using things like you know Computers Doing Radiology or computers pathology all these interesting areas. It's it's a pretty fascinating future. So that's by far the most interesting things that we're doing right now very early stage but but just tremendous opportunity. Anything else the thing I would say. I don't think we know the answer yet is kind of were trying to think through what the next potentials are for platforms right about platforms like certainly companies like thank you facebook and Google and others had become platforms or the iphone obviously as a platform. You know it's traditionally been the case that there's tremendous economic returns to the platform but also those IOS platforms than unveil a whole set of innovation around applications one of those platforms infrastructure to support those. And so we're we're kind of you know trying to figure out exactly what that it is I mean you know there's one level kind of VR ar potentially could become that platform. We are actually doing quite a bit of investing around crypto related technology. So you know we do that quite frankly as another potential platform. which is this idea that instead of building on kind of centralized platforms that you might have the developers interested in building out on decentralized platforms that are governed managed decentralizes opposed to centralized area? So that's where I'd say we're spending a lot of kind of our in our early investment and probably kind of intellectual time right now I don't know if we know the full answer yet. But we're certainly investing in each of those areas and trying to identify defy opportunities. That might be similar to that. No when you folks are hanging out on the edge of some of these ideas and some of this thinking whether it's Crypto or whether it's the new platform opportunities or whatever it is You are doing some. What I've got believe is some very forward leaning. You're very far out in front of your skis. In terms of a some some shit you have to know about where the stuff is likely to go from technology and Market Opportunity Opportunity Perspective as well as sort of you gotta get comfortable with a set of assumptions that to your point have a high high degree of likelihood to be completely wrong right right right. That's exactly right. Yeah and so how do you know how do you work on the edge es all the time in that way. Break that down for me if you yes so I think the way to think about it is. It'd be very hard to get yourself comfortable with that if you were if you were doing what I would call rifle shots right if you were saying. Hey you know what like. We're GONNA invest in one company in this space and hopefully goes to the moon and if it doesn't we lose all of our money and we got nothing else going. Look the beauty in the benefit that we have in our business is we we get to actually reduce risk by building a portfolio right. So if you know think about it right if we're GONNA make so for example you know. We're doing crypto related stuff like you know yes. We are making a bet on on the category of Crypto but within that category within that kind of broad category. You know we're GONNA make bets on currency related issues and on infrastructure on on things that might be kind of you know You know compute systems on applications. We're GONNA try to kind of at least reduce our risk by having diversification across a broad classification advocation of things. And you know oftentimes also we we sometimes are investing kind of cross What's the right word to say cross industry in a single phone on so we might have in a single fund something that touches financial services and some things that touch transportation and other stuff so we inherently get the benefit of upper fully diversification as a way to at least mitigate that risk the other thing that at least I think you know allows you to get comfortable doing this business is we just know from history? It's kind of where we started discussion. which is all tortured the baseball analogy one? More time. which is the batting average? Doesn't really matter in this industry in other words it doesn't matter how many times you get up and get hit. Get what matters is kind of when you get home run. What is the magnitude of that home? Run right so you know in our case right you've got capped downside right you can never lose more money than you gotta gotTa put in and hopefully you have complete asymmetric upside on the things that win and we know from history at least if you look at the data that probably we only need about ten or twenty percent of the things we invest in to ultimately be in that right upper quadrant of Yoel very high returns to effectively subsidize all the losses that you might get on this on the stuff that doesn't work and so you know that's not you know those are those are not great odds but those are reasonable odds and so the what allows us to sleep at night is we say okay. Look if we're fishing you know kind of in the right ponds where were in front of all the most interesting innovative entrepreneurs and hopefully we've done our diligence correctly to at least you know. Test our assumptions. You you know if we do all that right you know. There's a reason mall chance that we will have a small minority of companies will ultimately be able to drive most of the returns for the business. There's been a huge change in Silicon Valley and certainly my time here over the last twenty five years or so and One of them is. There's a lot more money in the system that comes from people who might call themselves venture capitalists but they're not venture capitalists in any way that I would understan- Dan a Entrepreneurial back BC WHO's more than likely have been A An entrepreneur prior or maybe. She's been a senior in your exact executive at startups. But she's cheer He. Whoever you're working with as a VC has been in the world chances are they're not bankers right and they are what I would describe more as craft? VC's there are people who have skills who've been to the show who share expertise amongst themselves and it try to coach and shepherd entrepreneurs to success. That's the world that I understood right. Plus or minus. Yeah and then Tada the money guys showed up right and they're they're they're just money. They're not crafty sees And they have they have a whole different. Set of motivations are and focused and so I'm curious how you think about That evolution yeah. I think you're I think it's a good description right which I think the I think the way to think about this business is bifurcated between kind of you know crafty. Maybe the right way to describe of basically people who are interested in working with companies being something other than just capital and hopefully helping them cut off along their path for for growth. Now you know as you know ought to be totally clear. Yeah the BBC's don't make these businesses VC's don't run them the entrepreneurs of course to that but I think there is a role for the BBC's in terms of providing guidance and networks and relationships and other things that can help accelerate the growth of these companies in that. I think you're right. There's a whole set of players that I would consider them look their financial investors and that's not to denigrate that at at all because look we are we're financial investors to the end the end of the day if we don't deliver returns to our investors. Yeah we'll all be looking for new jobs. So we all are financial investors in that respect back but I think people who come into this people who come in at a later stage in the opportunity set and say look. I'm not actually going to spend a lot of time in the core of the business. I'm making a financial position. And and you know my money is actually what creates differentiation in the sense of I've got access to very large pools of capital and therefore I can use that to help these companies also grow so look I I guess I'm I'm not too cynical about it in the sense that look. I think it's a little bit of a natural evolution of the business. It's also a function of the fact that these companies are saying private so much longer you know they're they're staying private. Roughly double the amount of time used to you know the the the data just you have it. It used to be about six six. Six and a half years was the time from founding of a company that was BC back to going public and today. That's probably ten or twelve years so we've literally doubled that time period and so I I think what you're really saying is happening is companies. That would have been public at a prior date or now staying private and therefore the money that would have been public. Money is now coming into the private markets to try to capture that appreciation right so you almost really just have a reaction of these big money. Investors now realizing that the only way I can kind of get more appreciation appreciation of these companies is to pick them up in the private markets. Where they're at a state quite frankly? I used to be able to buy them in the public markets. So I think that's really the way to think about what's happening and so I don't view it as you know quite frankly normally good or bad for the industry. I think it's more a reflection to changes. That happen both in the capital markets as well so the industry You know my personal view and and I've talked about this with people in DC publicly is The idea that more and more growth is happening in the private markets while beneficial. Oh you know selfishly for people like me who get to monetize that gross. I don't think it's good for the country. I don't think it's good to not have kind of companies going public at a reasonable stage age where a broader cross section of of public market investors can actually enjoy the appreciation there. So Yeah.

BC BBC EMC Cisco Mark Andrews Hornets INTUIT US Sun baseball Oscar Auburn facebook
"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

Christopher Lochhead Follow Your Differentâ„¢

02:04 min | 1 year ago

"andreessen horowitz" Discussed on Christopher Lochhead Follow Your Differentâ„¢

"Yes very irrational things. so that's fantastic so that they should you know the other expression I love is somebody said this one girl guard a little bit crazy goes a long way yes right yeah I love Lars and I think he he embodied that perfectly wealth and the other thing to remember for a while it was sort of popular to Shit on Alon. Musk and it the way I look at it. As what do you expect the guy who's trying to pioneer Mars right to be like your accountant. I think you're exactly right. I mean look it's not earthy which is look. It's always fun to to to shit on people or do or you know kind of make make light of this stuff but you're right it's there's a certain personality type of people people who if you're GonNa do something that is crazy and you've got people telling you all the time why that won't work you know. It's not surprising that you kind of attract a particular type of scenario into this business and oftentimes somebody like lawn can kind of work all that energy and all that magic into building something incredible and exciting and it doesn't work for everybody else but you know we have this we have this phrase internally we talk about all the time which is we invest in strength not a weakness and I think you know the founder archetype embodies that a lot which as you know these are incredibly brilliant people who have incredible vision. Who are willing to walk through walls and as I said kind of almost willfully suspend disbelief? to try to do something but you know those same characteristics also sometimes make them you know irritable or whatever you know kind of negative term you want you want to talk about and you know. That's just that's part of Businesses you can't you can't separate the good from the less good. Thanks and you have to be willing to kind of take the package as we say kind of invest in the strength invest in strength not lack weakness. Yeah yeah that's awesome. You should think about writing a book. That's a good suggestion. I'll take you up on that and so now let's pretend. I'm an entrepreneur and.

Lars Musk
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

20:13 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"Era pirate and you're a big company so we Steve Jobs had those laws they used to fly pirate flag over apple even if it was gigantic it's it's really it's really untoward when you're a billionaire and that's a lot what's ours too yes which is exactly kind of what you see chat really worthy and change the culture yeah yeah well boy I hate to hate to name names on people but like I think that we've seen a lot of companies until valley that kind of start out as like bottoms up enterprise you know kind of selling to enterprise through kind of consumer like distribution and at some point everybody's expecting them to go get the enterprise accounts but that's a cultural shift absolutely doesn't yeah and it's really difficult for the fat because they're totally in their old culture and unless they're willing to go you know bring in that subculture that enterprise well Google tried mightily with that right because and you know the guy they hired whole thing was very awkward very very difficult for them to do and even you know they brought in my friend Diane who's a great enterprise person but Ma'am like shoes breaks her pick trying to like you know move that and now they've got Thomas Curran and so forth and maybe they'll get there but that's a cultural challenge for them right because they're googly right really is a weapon that you can kill the enterprise I don't care I heard that word anyway really works so what do we have to do to better cultures because one of the things is obviously diversity in the allowance of different cultures to thrive and different mentalities and it is sort of at this point kind of an excuse like well we just picked people it looked like a that seems to be not very adult well so I think it's I think it's more complex than that so you can have diversity and in a monoculture right you you can you can assimilate people into your company culture regard what's there background I think the diversity issue is it's partly cultural Christian but a lot of it is a missile by the the after as Genghis Khan master of inclusion I think people are not bringing that for the people thinking he yes so well Genghis Khan highly underrate Morada but one of the things that he did you know huge reason maybe the key reason for his success was he kind of got rid of the old hierarchy which was based on basically lineage in your birthright these kinds of things and he replaced it with us meritocracy which then allowed him to basically incorporate anybody as a first class citizen into the army and now that was the key they came in as first class citizens so he would find the best Chinese scientists and he would bring them in and the kind of orphan kids that they had he would adopt and his own family so he'd make it very clear elect we're all together on this Manatee kind of then informed his military strategy which he was able to run a you know a very kind a different kind of thing where everybody was cavalry infantry there is no supply tense because everybody was on equal footing but the big breakthrough he had his he could see talent even though it was coming from a Chinese person or Turkey or whoever and he could use that talent I think the problem that most people have is they can't talent that's not from their background or like them so typical hiring thing is I know what I'm good at I valued highly I can test for it in an interview to hire somebody like me and then if they see somebody who's got who's coming from a different culture different background it's hard for its becomes difficult for them to actually see the talent and so I think the problem in Silicon Valley is then we go and say okay what we need to focus in on is race and gender and now that's what you need to focus in on what you need to focus in on is can you see the complete talent picture and and then if you focus on race and gender and you bring those people in and I'm sure you've spoken to many people then they're not first class citizens in your company and so ear creating a work environment for people like that you are reportedly trying to help but you're not you're just trying to get the gold sticker that says that you're not clear if you're here well here's something that it's always interesting when I was talking to think was twitter or one of them something about this is a board which I think the board you can find more money marvin diverse morton that hard to find a lot of quality versi on the board is easy fight but there's also qualified at that time and so it wasn't the culture was not what kept it together it was other things and so what would I wonder like one of the things you and I had an interview with that got a lot of attention yeah so very early on in the firm to set the culture and the the main kind of not only the culture but the brand promise was we are the best place for a founder to become CEO and so there was a bunch of things that then went behind that promise the respect the network learn how to do that job and so our role was the only way to be a GPS entries and Horowitz was you had to be founder CEO from a successful technology company and we're going to know promotions against that and that actually worked as a marketing thing it didn't work internally as the cultural thing because it just turned out that one former CEO's weren't necessarily good at teaching somebody to be a CEO that was a very hard lesson for me we didn't even have a need for that anymore but the side effects are one of the side effects was it was just hard to find there just aren't that many women who founded successful technology companies in Silicon Valley and then we had because we are fifty two percent women we had a lot of women on the junior side but we didn't promote and so I got rid of the rule I said like we'll just get rid of the rule and we'll see what happens and that changed the kind of number of GP's we had founder CEO but like that part didn't work and like it caused as a side effect of that we had out of recode decode I'll be back here on Friday tune in then.

Steve Jobs apple fifty two percent
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

04:23 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"It is not culture but go ahead dogs like all that those are I think it's something but but why is that the sense because many other So you've got to credit bob noise for kind of coming up with whole thing but at that time you know you had the east coast companies and they had parking spaces for the executives the smartest person in the whole company it just would never carry any weight and so we've done that way answer a military military manner correct yeah it was a little bit Oh and maybe I can like drink a beer and maybe I can you know corral somebody or something like that and then so you using losing the why of the culture is very dangerous arcand work on what you like although there was some of that an Intel but not nearly to the degree that Google ticket and then of course the free lunch which by the way we're going to talk about that and more when we get back here with Ben Horowitz his book is called what you do is who you are how to create Your Business Culture sure he's a very well known venture capitalist andriessen horrid swinging backwards to talk about what Google Culture is and what it's done for the valley and more when we get back this episode is sponsored by Zap here if you want to get things done it's all about automation that's exactly what Zafeer was built to do check out our special URL ZAP here dot com people who want to appear on Rico decode that he has to use automation to not get very recently eric made a zap zap here connecting his email to our list of people we want to have on the show now we can add to list without leaving his inbox it was easy to.

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"andreessen horowitz" Discussed on Recode Decode

Recode Decode

12:01 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"Hi I'm Kara Swisher editor at large of recode you may know me as someone who could totally be a venture capitalists let's see I have twenty billion dollars in my wallet who's got a start up But in my spare time I'm just a reporter and you're listening to Rico decode a podcast about power change and the people you need to know around the tech industry were part of the VOX media podcast network the author of several books including the brand new book what you do is who you are how to create your business culture it's one of many books written and we're going to talk about that and more Ben Welcome to Rico decode and care thank you for having me your stunning headquarters in Silicon Valley belly of the beast we've talked a lot before but I wanted to sort of people to get who you are very quickly and then we'll talk about the new book and how are they different from the old ones and stuff like that so let's start with the very short bio Ben Horowitz grew up in the people's Republican Berkeley went to school in New York at Columbia and then became an engineer then became a CEO had a company that did really what elven really badly and really well and then we started firm Andriessen hearts so talk a little about the NEOM injuries and Horwitz because things have changed that you guys sort of started venture capital tried to change venture capital and then it's changed a lot since then a coup- Softbank and others have come in we talk about that in the it sure but but talk a little bit about how you guys thought about and how it's changed over the years from your perspective from what you guys are setting to do yes so you know when we started we kind of cut it at the right time because it hadn't changed venture capital is very much like it was when you find a tandem or some of the great companies of yesteryear and uh it was getting much much easier to start a company and easier for or you had a long time as the founder to learn to be a C. so even and of created a firm that would basically enable a founder to be a CEO rather than replace the founder with a CEO and that was a big change you kind of organize the whole firm around that in particular we built this giant networks so that as a founder you would feel like a professional CEO with a big network of the people who knew every customer who everybody in the press people who knew all the people to raise money from and that kind of changed I would say venture capital professional is that a lot and so you kind of saw the kind of firms that weren't really ready to be professional go away and then firms that were very kind of strong like sequoia step up in Atalanta those capabilities idea was as they're called adding value to it and also a lot of money a lot more money a lot more big bets yeah so we you know we we also thought that th a key with tech companies like when something becomes a franchise it's always a good idea to invest in it so we were so focused on the stage was another kind of significant change in terms of when you invest didn't right yeah we go seed we'd go kind of a round we would go growth one of our first year els was in skype buying skype to Ebay and that was a deal yeah everybody yeah we got a lot of criticism for it but it turned out to be pretty good turn around and sold it to Microsoft yeah yeah two months later yeah which was great but the concept was that the this year I think it's time either marker you said this isn't your dad's venture capital or something like that mark probably mark did say that yeah you wouldn't you're not that obnoxious and so as it progressed over the years though Softbank comes in or other big different invest different tower the idea so what is changing that and then I wanNA get your book but I want to talk about where you think venture capitalists because then that happened with enormous amounts of money and I I can't imagine that was a to your liking what was going on there well you know the with Softbank they're kind of we see them as more of a substitute for what the public market it's used to be so unfortunately Due to just the way the regulation went of many fewer companies go public never have before it's very complicated dangerous and Softbank kind of was an investment firm that was stepping in that void that used to be public and so you know we didn't find them that where you have a bunch of join investments with them you know an improbable and they in slack and some other so it wasn't so you know they kind of invest alongside I don't know how their model is going to do I think that's probably a bigger question but generally since we there's just a lot more money every private money everywhere which I think is good for kind of good for society good for the country like it's I'd much rather see entrepreneurs who don't deserve funding get funding funding bad it's a great dino wealth transfer from rich people to entrepreneurs it's fine okay so I want to show is set the table for this book is where do you see the state is not as you know there's delayed IPO's which you just said dangerous I want you to talk about that and secondly any fewer startups or may or may you're seeing I wanna wear you think the startup scene is moved to now I think there's a tremendous amount of startups I mean he was just look at our volume and like what we see so I think I just think they're different so when we started the kind of big categories where cloud computing social networking and mobile computing and I think you know mobile computing and social networking are pretty gun is categories for venture capital but there's many new categories crypto computational biology SAS continues to grow and do well there's a lot of new things on the infrastructure sure side Fintech explosive in terms of the number of new companies in it so just moved a lot so to what is that changed in this in the landscape of company formation while I mean I think that in Notre if I completely understand the idea of what the landscape is for a startup now it's just the shifting the types of things you're investing in or it's a shifting types of things but like I think right now like it's still like if you can't raise money now you have real issue on historical basis I think it's quite easy to raise money so like if you have a credible idea if you have any kind of the minimum the business and so forth there's tons of investors out there and lots and lots of money so all that is still working pretty well I do think there you know there are some very a company specific situations going on where you know they got to like anytime you get to very high valuation and the business is working I e the business is in generating cash you're a potentially dangerous spot because you're kind of selling equity in your company based on the promise of the future but at some point if the valuation gets too high in the view of the future changes than right you have a real issue our areas much more quickly than other people have yes well I mean I think that you know we're kind of used to the kind of being in a company cycle and you only and product cycles gone you've got to get to the next one that's how we view it and and so yeah we've moved pretty aggressively on that I think some firms have you know they've got the whatever the same old people doing the same old things and there's not as much to do them and so you've said there's social networking in the and mobile or two that you don't see as much investing Yeah I mean it's pretty hard to win they're like you know take on facebook that doesn't sound fun or apple and Google I mean like you know and and then you know they have just such a clampdown on distribution on like okay yes you can build a mobile APP but it's it's just way more difficult now uh those are they're just more difficult to invest and then when you look at the ones that you've been investing and what are the ones that you're most excited about say like I is really super exciting right now I think my you know one of the companies I'm on the board of data bricks is just like it's just amazing the things that people are doing with it the kinds of problems they're solving and you know just the quality people going into the company so that always spells a good area the tiptoe area as much newer but it's still like super interesting entrepreneurs lots of great ideas and so forth and all brand new stuff lots of place to innovate on the buyer side I'm not as close to that at the firm but the th I mean people come in they're like oh we've cured cancer we're working on trials now that's it's actually in some ways a lot more fun for me than than social networking was so in health in the whole healthcare space yeah and then in terms of a change in that area or energy or food yeah so we don't do our ca a firm re we don't invest in that area mainly because when we don't have the expertise and then to you know it hasn't been like an area that La's from investing sample we said Oh wow that's where all the Kennedy is and what about financial tech definitely were in their big Fintech taught on yeah so if we hit this wonderful point I'm a financial crisis where young people don't like banks or credit card because they don't trust them you know some good reason so there's been in just a great opportunity to sell new financial products particularly young people and we're seeing just a lot of motion there there's also with this huge portion of the population that doesn't even have a bank account and so we you know we have a few companies in that area once called repel and they just started with a food stamp kind of application where like food stamps I didn't know this but turn out to be horrible to us because you don't even know what your balances so you can go to the grocery store and not even have the money to buy Richard trying to buy which is already embarrassing enough you got the food stamps and products that help you manage your finances and another one is earning which basically gets you money like I you work at McDonald's or whatever or you know any place that pays you by the hour but you don't get paid until for two weeks and you need money four days into it they'll just basically lend you the money interest free for the days you've already worked yeah and what about self-driving automation and robotics yeah so we have a couple of things in the Thomas Vehicle space warm is called deep maps ai and another is called applied intuition and the kind of basically they help people build autonomous vehicles we spent a lot of time like net that I think that that one is an interesting one in that there's a it's kind of the biggest market imaginable and that is you know replaces drivers which is the kind of number one form of employment I think worldwide so there's tremendous amount of money going and there's no actual businesses on the other end that are up and running it so it's a it's a fascinating in that sense from venture capital standpoint we don't know what it's going to be so general you feel pretty good about the venture space right now in terms of its health and its ability to fund as many startups as there are oh yeah yeah I mean.

editor reporter Kara Swisher Rico VOX media twenty billion dollars two months four days two weeks
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

02:06 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"Quietly. How seriously are you guys thinking about that well so so so opportunities as part of the tax bill that happened in two thousand seventeen basically is if you're investing money in kind of areas that are considered to be either lower income or in need of development development. You can make a real estate. Investment that has a bunch of tax benefits in particular you any lots of them have real estate real estate right and so the closest thing we have to a a company called cowdrey that you made me familiarize right and part of countries business is they actually do have opportunities own investments in addition to their broader real estate platform so we're a direct investor. They're interested in that area korea. I'm certain that probably individual partners quite frankly are looking at it as a way for them to potentially kind of diversify taxes you guys aren't seriously studying anyway no other than just through conway. That's it not and making more investments across the country. <hes> we are <hes> but still still concentrated. There was an expectation like you know. I feel like the beginning like a year ago. Like lots of opportunities fund your investments vestment staying. If you look at our portfolio today about seventy five percent of our dollars probably around the twenty mile radius here. There's little l. a. seattle new york boston to companies in the u._k. Opportunities opportunities everywhere talent is everywhere. I think that's real yeah yeah. Did you hear they win. When i interviewed steve and mark cuban silicon valley was over. What did you think of that. Are you over scott over. I don't think i don't think why mark cuban is always right. I know but look i. I would love to see the rise of the arrests like i would love to see that happen and i and i think there are there are hints that is starting to happen but i think people forget like the network effect that we have here has gone on for a long time and it takes a long time to build this look. I would argue this. Is you know people may disagree. I would argue like silicon valley dates back to founding of stanford in the sense that like so much of what stanford did was kind of this movement of professors between academia and careful activity and it certainly goes back to the military industrial complex kind of world war two and you don't look seventy eight years of building it up. It's you can't beat network affects. Obviously we're doing a good job in california to try to do that. Whether it's housing problems are tax problems are all kinds of other stuff like we are. You know you know making it harder and harder..

mark cuban stanford korea california conway seattle steve scott new york boston seventy five percent seventy eight years
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

03:25 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"I don't know if it's a word that kleiner perkins effect change is that over the i there was the whole time when it who was you know we can't have women venture capitals here because if i do then i'm in trouble is that <hes> because i had a back and forth with ben horowitz about that actually but that issue has that shifted finally. I don't see that i really don't see that and look. I won't speak for kleiner or for ben actually but i don't see that at all i think i think we'll aware i think eight people responsible. I think that's right. I think people are approaching it. Responsibly people are trying to do. I think the things like that we did which is okay look. Do we have job criteria that just by definition whether whether purposely or not it actually is not nibbling tap into these networks and i think again. There's things like we're doing with this stuff there with the cultural leadership on we're trying to figure out ways to improve connectivity activity. It's it's not as i said. I don't declare victory here but at least i think we're making progress in the right direction all right last question. What's the secret agent but in here it's the biggest secret scott god. I wish secret santa rosa goal talk to him. I'm on twitter that you actually. He's macktaz ever zone can you. We want to know the secret of how marketers in blocks people. I get so much i wish for. It's all these people like. I don't know why aaron from alabama block respond. Oh yeah all the time but but it's interesting it's the so it's people on twitter so fascinated by how he blocks fascinating but can you give me a real secret that one. I don't care if you're being blocked by mark jackson. I don't know if that's a real cigarette. Look i. I don't know if i have any more secrets. I think i've told them on what are yeah. What is the what do you see coming venture capital. So what are we see coming. A couple of things one is we talked about look. I actually think i think public and private it's gonna actually really blend very meaningfully over the next five years and i hope that means we have more early stage i._p._o.'s but if not i think we are going to have a fully functioning secondary market. That's going to be different than we've seen before. The other thing thing i think is happening which is not a change but i think is where we started which is money money is not gonna be. We'll never be the scarce resource again if you look adventure right for the first thirty five forty years that was the scarce resource the b._b._c.'s had it. That's what basically kind of enabled them to have power over entrepreneurs. I don't think that's changing <hes>. I don't even think of interest rates go up. That's changing. I think the reality is this is now an asset class where people actually think about it in a different way than they did four and so i think there's always going to be more money people with lower cost of capital and so look for any survive whether we want to survive against other b._c.'s if we're gonna gotta survive against crowdfunding or i._c._s. Arranged we're going to have to do something other than just provide capital and we have to keep running really fast. I think there was the big the other big area from just an investment perspective. We're spending a ton of time on the the intersection of life sciences and computer science and i do think i'm certainly not expert enough on it but you know if you talk to our team. I think people feel like we're kind of in the nineteen sixties nineteen seventies oh kind of equivalent of what happened the computer industry out to here yeah. We're about to go on this thirty. Forty years got a real interesting change and i think there's opportunities obviously for us to you know family be do well and also for us to actually do well from a from a people perspective one final thing entrance of kind of looking forward. How seriously are you guys thinking about opportunity zones yeah and sort of ways briefly a quick what that is but like i know there are a lot of firms that have been studying this quietly..

twitter kleiner perkins ben horowitz kleiner aaron mark jackson alabama b._b._c. thirty five forty years Forty years five years
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

02:51 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"Right. You've got folks like teepee g or k._t._a._r. You got a bunch of the buyout firms doing this. You still got hedge funds and mutual funds playing. I'll be less even the sovereign wealth funds now have direct investing efforts so i actually really think that the impact of softbank now is actually muted relatives deal. Obviously you know one of these hedge funds or softball funds can't do fifty two billion dollar deals softbank can but on individual deal by deal level they can because yeah right they can if you can run a three hundred and five hundred million dollar check which you know. There's not a million people who can do it but there's a fair amount of people well now who can do that. That's pretty meaningful right and so you don't have this dichotomy before where it was like either you were tapped by softbank and you've got the money and everyone else was out of the market. Now there is kind of more. I guess healthy competition in the sense that what did he do to the market with these numbers then you're just saying that now there's more giant bigfoot their issues and so what it's done is if you look at the numbers something like last year sixty or seventy percent of the dollars dollars that were invested last year all came in one hundred million dollar plus round sizes right so the roughly hundred billion dollars i think last year they got invest in the u._s. About sixty sixty five to seventy percent it i was in these big rounds so good thing well because we're we are at a low of new startups. Small startups correct like there isn't yeah. It's i mean i i. I think you wouldn't i mean. I don't know that the numbers may say that. I would say if you look in general at the early stage market. It's pretty robust dole and there's been a ton in fact over. The last ten years has been five hundred new seed funds raised so right. I don't think there's there's much maybe maybe just purely numbers slightly down but i don't think in terms of actual access to capital sound. I think it's a bad thing only in the sense that i think that these things should be public companies and again. I've i've been on record on this in d._c. Bad it's bad for us as a country to basically have effectively this massive wealth transfer that we've had from public market investors to private investors and selfishly initially. You know quite frankly for someone like us. It's great because it means. We have more appreciation in the private markets but it's just it's bad for our markets like if you looked at over long periods of time. It's actually been a good thing to have retail investors investing i._p._o. People have made significant amounts of money that growth rates have been good even this year if you look at it quite. Frankly you know the i._p._o.'s. I saw some number i._p._o.'s up like sixty percent this year versus like twenty percent for the market or something and then let's see diversity. What's the secret there. What is what. I don't think there's any secret. No there isn't it's out in the there. There's not enough yeah. There's definitely not enough. What is the problem you running affirm- yeah. I think there's to say what's your excuse for. What's your excuse a lot more. You have had alamar yeah look so let me tell you about what we've been trying to do and we'll see you can tell me whether you think it works. I won the g._p. Side you're right which until a couple of years ago we did not have any female g._p.'s right and we had this hard criteria which as we said you have to have been a founder c._e._o. And shame on us they probably should have taken us longer to realize that but like that pretty narrow spigot and that's a pretty white male spigot and so <hes> <hes> what we said was about now about two years ago we said look the criteria really is not founder c._e._o. The criteria is are you maximally attractive to the very best entrepreneurs and one way to evidence that is yes. She can be a founder c._e._o..

i._p._o. softbank founder d._c seventy percent five hundred million dollar one hundred million dollar fifty two billion dollar hundred billion dollars twenty percent sixty percent ten years two years
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

02:50 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"Right. You want the store you want the arc of your story to always be consistent right and so if you think about a fundraising event the worst thing that can happen to you as you've been telling you know you're the c._e._o. You've been telling your company long. Hey we're doing great like we're hitting all our metrics and then oh by the way we go out and raise money and either we can't raise or raise evaluation that people kind of don't like i told the story in the book when we raised money loud cloud. We raised money literally nine in montana. The company started at an eight hundred twenty million dollar post money valuation. We raised one hundred twenty million dollars and better and i were kind of going to do an all hands meeting and basically pat ourselves on the back and tell them how wonderful they were and it turns out that everyone was upset because we didn't raise a billion dollars and this was before quite frankly even had the term unicorn and you know it was crazy like the idea that we raise a billion dollars was insane but there was another company storage networks which you may recall was longtime ago basically did raise a billion dollars and so quite frankly it you know the immediate interpretation from the company's perspective was okay like are all the things you guys are telling me true which is like everything you you said about how well we're doing does the market reflect that and so i think that's probably one of the most important things that we try to convey to our our companies really making sure that you think critically about the fundraise process process because it really does become one of the few report cards that you have from an extra audience on your company right. Do you feel like founders actually doing that. Though <hes> i think they're trying and i think sometimes why why you see them. Actually pushing valuation you know sometimes maybe ahead of where the promise of the businesses right right and we saw a lot more of this. I i've seen less of it to be quite honest now than i did. In the fifteen timeframe where you would see more structured deals where people would get the headline valuation they were looking for but there were things like ratchets or other stuff. That was kinda funky going on so i think there's been a little bit of a i wouldn't say reckoning but i think people have a greater realization that those things can come back. You know the square i._p._o. That happened rape. You had kind of you know you had this private round at sixteen bucks and the thing goes out at eight and then the sixteen is a sixteen dollar guys of course have this you know full ratchet ratchets them down to eight that was the first kind of public time we'd seen kind of the negative effects of some of these terms that come back to haunt people and so i think that gay people a little bit more of awareness that it's you know if you can get a clean deal with slightly evaluation. You're always better austin. Getting one of these structured deals at higher by asian. It's not entirely in the water yet these these days but i think it's more on the water than it was kind of in that. You know two thousand twelve to two thousand fifteen timeframe. What are some of the other thanksgiving founders money back or founders control for example. Yes founders founders control <hes>. I hate this yeah yeah at least favorite thing i hear ya i mean i think the reality is look. That's largely market. These days for most companies have to give them in control in most cases yeah so at least at the bar as that good in any way. I think it's complete bullshit that they are protecting the company. They've never unprotected so i think what happened was and this was before. We were in the business so i don't wanna i don't wanna say anything else. I think there was this meam out there that looked v._c.'s were sometimes kind of you know <hes> not as rational about moving entrepreneurs out of the business business right that people would replace the ios to whimsically and so i think this was a big this was a big push against that which is say hey look. This is my company like you can't just wake up one day as a v._c..

v._c. montana rape austin billion dollars eight hundred twenty million d one hundred twenty million dol sixteen dollar one day
"andreessen horowitz" Discussed on Recode Decode

Recode Decode

02:39 min | 1 year ago

"andreessen horowitz" Discussed on Recode Decode

"A lot of firms have surely gratifying to hear have copy you to some extent. I wonder if you graft kind of total venture capital firms staff size over time. It's it's increasing the last ten years that made it harder. The fact like you know maybe ten years ago. No one else had a c._i._o. But some are no no no no one else knew the c._i._o. People i'm doing this fulltime. Not a you know obviously the the counter example tenders benchmark which is still a very small firm probably less than twenty employees. I'm just guessing but a a lot a lot of firms which probably flattering to hear have copied a lot of the recent model. Maybe not quite one hundred and seventy employees but fifty seven that made it harder. It hasn't made harder than it just as with all things look. The competition is always hard. You gotta just run faster so nobody's done it at the scale. We've done it at. We think nobody's done it. With this kind of broad network approach as opposed posed a kind of just. Can i help you in certain areas because we think that's much more skilled way to do it but look. I think the reality is look. We can't sit on are we. Can't you know kind of our hands and assume that that things aren't going to change the market will change asian. I think the biggest thing overall the change over the last ten years is look if you're just a check. There's nothing there's no way you can be successful in this business a check. There's always there's always somebody who's got more money and a lower cost esta capital than you do so the question is and entrepreneurs have choices right so the question is why will an entrepreneur work with you or not and we hope that they will choose us because of this. We also now the nice thing about this businesses. It is a relationship zipping referral business and so instead of them just hearing us kind of brag about how wonderful you are. We just say hey look go talk to the ten years. Invest yes just go to one hundred of our c._e._o.'s and ask them comparatively like what kinda evaluation she'll talk about that idea of typical v._c. Because i think that can change it absolutely can't change unless a ways but how did you decide to do this book. Let's go to the book and then after the break. We'll talk more about it. Yeah sure so so <hes>. I basically wrote the book because i've been doing tech stuff for about twenty five years. Now i was a banker. I was loud cloud ops in ten years here and just kept getting the same basic questions from entrepreneurs brewers. Even as foundational is like should even raise venture capital and what i thought because we live out here in the valley of course and there's you know incredible resources that all the questions have been answered but what i found was there's just as basic quite frankly you know mistrust distrust between p._c.'s with some of it is because we've got different vocabulary and you know there's an information asymmetry. I just felt like like it doesn't. There's no reason why the business should be that way. You know as you guys know part of how we think about what we're trying to do at andrews and horowitz's if we can kind of help explain how we think different things are her happening everything from kind of how we think the future might unfold to how we think the business venture capital might unfold and so with our was important next step to do this and you as to kota fight the minute book. Do these events yourselves right. You bring in people like the safari tour of silicon valley to call it to me where you have like people from i dunno..

horowitz andrews p._c. ten years twenty five years
"andreessen horowitz" Discussed on Software Engineering Daily

Software Engineering Daily

02:08 min | 1 year ago

"andreessen horowitz" Discussed on Software Engineering Daily

"The a sixteen z podcast is a show that is produced by andreessen horowitz an investment fund based in silicon valley. The a sixteen z podcast cast covers topics including software engineering biology media crypto currencies and entrepreneurship. A sixteen is one of the most popular podcast outcast about technology. Sono choksi is the editor in chief at injuries horowitz and the showrunner for the sixteen z podcast for five years years. She's been interviewing entrepreneurs engineers artists and investors exploring how software has increasingly impacted our lives and transform society society. The success of the sixteen z podcast is largely a result of sonos high editorial standards and her ability to ask the right questions chins and drive conversations in fruitful directions. Much of the content of software engineering daily has been shaped by a sixteen z and i've listened to every single episode so choksi joins today's show for a conversation about podcasting and technology so shares her beliefs for why the the podcast medium has taken off and describes how her background in education ethnography and technology have shaped the completely distinct voice voice and flavor of the sixteen z podcast <music> patchy kafka has changed the world of data infrastructure and kafka summit is the place to learn learn about new design patterns in engineering practices in the world of kafka kafka summit returns to san francisco september thirtieth through october first twenty nineteen cough summit has sold out in new york and london and the san francisco event is likely to be just as popular listeners of software for engineering daily can get twenty five percent off their ticket to kafka summit by entering promo code s. e. d. with the promo code..

kafka Sono choksi andreessen horowitz san francisco horowitz sonos editor in chief new york london twenty five percent five years
"andreessen horowitz" Discussed on Software Engineering Daily

Software Engineering Daily

02:42 min | 1 year ago

"andreessen horowitz" Discussed on Software Engineering Daily

"Josh knows is an investing partner with Andreessen Horowitz where he focuses on infrastructure and analytics eight years ago, Andreessen Horowitz, laid out there thesis that every company was becoming a software company. If you have been running a car company for eighty years, you now have to think of your organization as a software company that happens to make cars the same is true for other old industries such as banking construction oil production and manufacturing these legacy. Industries are beginning to adopt software more aggressively because software can improve internal communications and enable employees to work. Creatively software also allows a better understanding of how the business is operating. It construction site does not feel like an environment that has been infused with software, there might be concrete and pillars and slabs of wood, tools and nails or piled in a corner of a construction site paper blueprints might. Be used to understand the design of the construction site. The same could be said of a grocery store inside of a grocery store. You feel a similar lack of software as you shop in the produce section you examine the fruits and the vegetables to see what's fresh and what's expired. You see that the store is completely out of apples. But it has so many oranges that some of them have expired, and they're starting to grow mould employees are walking around the produce section making notes on clipboards with pieces of paper attached to them software can improve real world environments by adding cameras and sensors to record the state of the world and software can produce operational analytics to make businesses more efficient these operational analytics can be used by data. Scientists engineers managers executives and everyone else to quantify more areas of the organization. Indeed, everyone is. Coming an analyst operational. Analytic? Software is useful for every industry. Construction companies can use operational analytics to make their construction sites safer grocery stores can use operational analytics to understand the trends in their customers. And by the right amount of produce to avoid spoilage knows joins the show to discuss. How software is impacting these businesses and the different approaches that operational analytics can take within industries like construction banking and grocery stores. We're having a hacker on this Saturday at app academy. It's on April sixth. You can find out about it by going to suffer engineering daily dot com slash hacker..

Andreessen Horowitz Josh partner analyst eighty years eight years
"andreessen horowitz" Discussed on Software Engineering Daily

Software Engineering Daily

04:11 min | 2 years ago

"andreessen horowitz" Discussed on Software Engineering Daily

"The whole thing that came out of crypto kitties in y, Andreessen Horowitz put a bunch of money into the crypto kitties founders is because they brought to market the functionality of having a provable unique digital asset. Like if you pick up a sword in a video game, you can now prove that this is the only sword that exists. And that's obviously, you know, it's it's being applied to gaming, but it's pretty easy to think about ways in which having a a provable unique digital asset could be valuable. The other thing that I think is interesting is the idea of a blockchain is a distributed consensus mechanism, and that is novel even just as a computer science. Concept that we don't maybe even have a widespread use case for you unless you count the the things that you just enumerated already. Even if you just look at it as a fundamental computer science concept that is a breakthrough and that is a tool in the computer scientists toolkit. The third thing that that you didn't mention that I think also has not been proven, but it sort of proven is the digitisation of the contract. You know, right now the my digital contract experience is I get a PDF in an Email from a lawyer or from you know somebody making a deal with and it's like, is a PDF really the way that we want to describe. You know something that should be well formed and well documented. And I think the the idea of a smart contract where you have a digital rule based unambiguous contract that is another potential breakthrough that actually depends on the same things that the value that the uncensored ability the. The strict consensus mechanisms, the sort of things in the purposes one through four of crypto. So I think I want to hear your feedback on that, but if you agree with those, that's five use cases for blockchain related technologies. Yeah, I would say I completely agree that they are use cases. I wouldn't agree that they are proven yet. I guess mostly because we haven't seen growth in user base like even for crypto cuties. I'm not sure of the data. Exactly, but I would suppose our guests that if you go to an Olympic sites and check how many daily users actually exchanging Kiedis are playing with him, even if you count applications built on top of the original crypto. Kitties wouldn't say there is more than a thousand people every day. The role playing with it. Of course, it's still early and these investors are making bets, and I'm also bullish on the digitisation of property. Basically not only in the case of collectibles in games, but also in the case of property wheel state. In many other cases when it comes to the centralized. Consensus yet. It's a big breakthrough, I guess. And we've seen with witnessing the birth of new families of protocols which tried to tackle the issue in different manners than Sadashiv did. In the beginning in we're starting to see a lot of trade-offs become more clear in clear in the sense that we can be, or we can build protocols hazardous centralized. As we want in distance that we will have to pay off some security are some skill ability to reach that decentralisation in. We can balance the straight off in multiple ways. So Agri that that's a powerful new concept in the computer scientists told bucks in when it comes to on tracked that's against the most valley could think I don't really personally, I don't have many problems with signing stuff on PDF's, although would like them to be either don't more ultimatum or navy more easy to use, I don't know. But when it comes to smart contracts in theory or any other blood from I, we don't really have an unbeatable. News contracts yet. I mean, stuff happens as as the cold determines the terms it should happen. But in the end of the day, we're talking people making interpretations of things in even in cases where contracts work exactly as they should have, like the case of the theorem, thou the DA, oh, people might just gather in say, hey, actually what we wanted was not executive vet. So we're still not at the point on which we can have like a truly code is law constitutional even for small communities, I guess..

Andreessen Horowitz executive Sadashiv
"andreessen horowitz" Discussed on Software Engineering Daily

Software Engineering Daily

04:11 min | 2 years ago

"andreessen horowitz" Discussed on Software Engineering Daily

"The whole thing that came out of crypto kitties in y, Andreessen Horowitz put a bunch of money into the crypto kitties founders is because they brought to market the functionality of having a provable unique digital asset. Like if you pick up a sword in a video game, you can now prove that this is the only sword that exists. And that's obviously, you know, it's it's being applied to gaming, but it's pretty easy to think about ways in which having a a provable unique digital asset could be valuable. The other thing that I think is interesting is the idea of a blockchain is a distributed consensus mechanism, and that is novel even just as a computer science. Concept that we don't maybe even have a widespread use case for you unless you count the the things that you just enumerated already. Even if you just look at it as a fundamental computer science concept that is a breakthrough and that is a tool in the computer scientists toolkit. The third thing that that you didn't mention that I think also has not been proven, but it sort of proven is the digitisation of the contract. You know, right now the my digital contract experience is I get a PDF in an Email from a lawyer or from you know somebody making a deal with and it's like, is a PDF really the way that we want to describe. You know something that should be well formed and well documented. And I think the the idea of a smart contract where you have a digital rule based unambiguous contract that is another potential breakthrough that actually depends on the same things that the value that the uncensored ability the. The strict consensus mechanisms, the sort of things in the purposes one through four of crypto. So I think I want to hear your feedback on that, but if you agree with those, that's five use cases for blockchain related technologies. Yeah, I would say I completely agree that they are use cases. I wouldn't agree that they are proven yet. I guess mostly because we haven't seen growth in user base like even for crypto cuties. I'm not sure of the data. Exactly, but I would suppose our guests that if you go to an Olympic sites and check how many daily users actually exchanging Kiedis are playing with him, even if you count applications built on top of the original crypto. Kitties wouldn't say there is more than a thousand people every day. The role playing with it. Of course, it's still early and these investors are making bets, and I'm also bullish on the digitisation of property. Basically not only in the case of collectibles in games, but also in the case of property wheel state. In many other cases when it comes to the centralized. Consensus yet. It's a big breakthrough, I guess. And we've seen with witnessing the birth of new families of protocols which tried to tackle the issue in different manners than Sadashiv did. In the beginning in we're starting to see a lot of trade-offs become more clear in clear in the sense that we can be, or we can build protocols hazardous centralized. As we want in distance that we will have to pay off some security are some skill ability to reach that decentralisation in. We can balance the straight off in multiple ways. So Agri that that's a powerful new concept in the computer scientists told bucks in when it comes to on tracked that's against the most valley could think I don't really personally, I don't have many problems with signing stuff on PDF's, although would like them to be either don't more ultimatum or navy more easy to use, I don't know. But when it comes to smart contracts in theory or any other blood from I, we don't really have an unbeatable. News contracts yet. I mean, stuff happens as as the cold determines the terms it should happen. But in the end of the day, we're talking people making interpretations of things in even in cases where contracts work exactly as they should have, like the case of the theorem, thou the DA, oh, people might just gather in say, hey, actually what we wanted was not executive vet. So we're still not at the point on which we can have like a truly code is law constitutional even for small communities, I guess..

Andreessen Horowitz executive Sadashiv
"andreessen horowitz" Discussed on Xtra Sports Radio 1300 AM

Xtra Sports Radio 1300 AM

01:49 min | 3 years ago

"andreessen horowitz" Discussed on Xtra Sports Radio 1300 AM

"This is extra sports 1300 ad council welcome back to the nfl today on westwood one for the progressive insurance studios i'm scott grave quote by and save on home insurance would progressives home quote explorer only at progressive dot com or special christmas doubleheader tomorrow begins in houston with the texans taking on the pittsburgh steelers were houston superstar jj watt in a lot of ways a disappointing season and in many ways and inspiring season andreessen horowitz got an opportunity to advance of that game to chat with jj what scott thank you jj so many things to talk about but let's start with this how are you feeling after great in october eight obviously uh which i was out on appeal but the recovery process is criminal law really well can feel like getting stronger every single day and just working toward getting back in and feeling like myself again and really just very optimistic and i'm a big believer in a positive out you're going give positive eyes back your way so just optimism in positively and and really feel good about getting ready for next year and the second straight season that you had to go through something like this anything different for you personally this year having to watch the team as opposed to last your other than the teams outcome i mean for me personally if true completely different andrews you know the back injury is one where right after the surgery you can get up and walk around him and he can't live wait for them but you can walk around you look normal you kind of feel normal so it's a very weird dynamic being able to do a lot of stuff but really not being able to player during that you want to do and then with this one obviously you know when you break your leg it's it's a broken leg you can see you can feel your crutches and uh there's really not a whole lot you can do about it so from a mental standpoint it's definitely a little bit different and uh i don't know i'm i'm really excited in the healing process is going really well so.

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"andreessen horowitz" Discussed on Xtra Sports Radio 1300 AM

Xtra Sports Radio 1300 AM

01:32 min | 3 years ago

"andreessen horowitz" Discussed on Xtra Sports Radio 1300 AM

"Mm westwood one sports present this special report on the hundred and forty six open championship andreessen horowitz jordan speak brooks kept continue the front nine of their second round they continue to be in a tie for the lead at fiveunderpar but the avenue colleague englishman richard bland birdies on two and four to reach fiveunder and a share the lead aid forty four year old has it made the opens in 1998 yet through wind and rain has himself tie with a pair of major champion the poulter right behind it four under while playing the fifty meanwhile matt kuchar just watching followed up his five hundred yesterday with a oneover seventy one just one off the lead jas are the day began with thirty eight golfers at one under a better it's down to just twelve worry mcelroy is one of those he's had a twounder second round get to one under for the tournament todd seventy ad ties make the cut currently that includes everyone five over bettered rickie fowler a twoover dusted johnson threeover they're gonna make it with his british open report objects and more with westwood one sports if the invention of the plow led to the family farm which led to commercial agriculture which lead to farmers growing produce in the shipping container what's next we're working on that aero electronics five years out is the invention of the ice box led to the refrigerator which led to ice and water in the door which led to the fridge sending you a reminder to get milk what's next we're working on that ero electronics five years out the sun can make your outdoor decade patio space so.

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