Everyone Is Watching AI While Crypto’s Bull Market Builds | Weekly Roundup

Oh my gosh

... we haven't seen, and I don't know if we'll, it'll be anytime soon, but, like, what I was ac- Okay, so for people who missed it, there's this company called Factory.

They compete with a company called Cognition.

We've talked about Cogni-Cognition before 'cause Paul Grewal, who was the chief legal officer at Coinbase, went over to Cognition.

They're, like, one of the fastest growing, actually, companies in the world right now.

Just raised it, like, I think 40 billion, 42 billion, something like that.

Anyways, Factory had a bo- uh, board member, um, who was the first sales hire at Snowflake.

He grew through the company, became chief revenue officer of Snowflake.

Cognition just hired him while...

And he was a board member at the other company.

Anyways, doesn't really matter, actually.

Um, what we haven't seen is, like, if you th-reme- Okay, think about crypto in 2020 and 2021 and how many really hot, amazing companies there were, and how many of them had these catastrophic blowups, and, like, that, there has, there's no, th- there's been no pin that's been popped in the balloon of, of AI, and some of these companies are incredible, world-class, will be literally trillion-dollar companies, and some of them are total zeros, and we have no idea which one of them it is.

Um-

Total zeros who also raised at multi-billion dollar valuations-

I'm less interested-

... because of the hype

...

in the Vinod-Sean drama, whatever.

What I'm interested in is what is the thing that pops the, dare I say, bubble, or maybe I can say balloon, of, like, what, which, what's the company? What, just tell me who the Celsius is.

Well, can we, uh, do, I mean, this is also, like-

Oh my

... a good, uh, sort of segue into, uh, the thing that's happening, uh, or at least the conversation about Anthropic, right? 'Cause, like, obviously, like, you know, their, their, uh, S1 has been out.

It's leaked to a few people, uh, but, you know, we, none of us have seen all of it, uh, yet.

They, um, uh, but, but the FT, like, talked about last year's revenue, uh, and unit economics, which was essentially like, yeah, they're, for, for every dollar 60 of compute, they are giving a dollar of revenue.

So, like, even, like, the unit economics of, of, of, um, Anthropic, let alone, like, all of the other expenses they have in training new models, et cetera, was, uh, it was, was deeply, deeply negative.