Representative appearances

• Lin Qiao, Fireworks AI | theCUBE + NYSE Wired: Mixture of Experts

  Companies building applications directly with AI models.

• Adit Abraham, Reducto CEO: Raised $108M, Spent $1M - How Extreme Focus Built a Real Rocket Ship

  A type of customer Reducto works with, alongside large enterprises, highlighting their market reach.

• What AI Means for Your Startup’s Future | Peter Walker Breaks It Down

  We are no longer an investable unicorn opportunity given the way that some of these AI native companies are growing. We're not growing nearly that quickly, but nor are we necessarily a business that doesn't have any value. We have a pretty decent amount of ARR. Maybe because of the slashes that we've made to our employee base or our software spend, we're like close to profitable or somewhere near there. What happens to those companies? I think it's one of the biggest questions around startups. There are hundreds and hundreds of unicorns that are probably not worth the sticker price, but probably are worth something. So, where do they live? How are they acquired? what happens to those employees? Uh those are all lots of open questions. You know, to the point around the valuation though, of the unicorns that were sort of minted as unicorns before the end of 21 on Carta, for those that have taken money in since their unicorn round, about half of them have taken a down round. So that is a if you just extrapolate that to the remaining set and probably the remaining set is going to be a little bit worse or they would have fundraised already. That is a lot of companies that say a billion bucks on the valuation that are not worth a billion bucks. Totally. Totally. Totally. You know what also we're seeing Peter uh which is quite interesting is some of these higher price unicorn valuations which were done on prefer rounds are leveraging that valuation to go acquire AI fastmoving startups you know at the seed maybe series A stage to give them that AI you know flavor but they're offering common shares which we know are not worth the pre valuation of their last unicorn round from 2021 but they haven't raised since then you know and so the question is like as a VC investor For us, we're like,

• Nvidia CEO Jensen Huang talks earnings, China, Trump, and gaming

  Companies emerging with new AI applications.

• Felicis, Founder & Managing Partner, Aydin Senkut

  dozens of 100 billion dollar plus AI native companies will be built this decade