“Slack, for example, I would say might be in a little bit more precarious state because the data in Slack is not timeless.”
Short half-life data makes Slack vulnerable; AI can rebuild it and siphon its value, despite Salesforce ownership.
“ERP is a great example. Somebody uses NetSuite as an ERP... it runs your whole business. There is no compelling reason for someone to put their career at…”
ERP systems like NetSuite (Oracle) are insulated; no one rips out the system that runs their whole business.
“DoorDash is sticky not just because it has this beautiful app, but it's because it's a network of restaurants and dashers and consumers. So you can't just…”
Network effects, money flow, and hardware make DoorDash sticky and durable in an AI world.
“when you have financial or money moving through you. I think that's another way to be sticky... like for example Toast, have payments going through them.”
Toast is sticky via free-but-costly-to-return hardware plus payments flowing through it.
“As a company, you either die or you live long enough to become an ads company. And so we are seeing now with OpenAI, it's happening.”
ChatGPT combines intent and identity data, the dream of advertising; OpenAI ads business will be massive.
“The best example of this is a company called AppLovin. AppLovin is a $100+ billion company. They drive one outcome really well. Mobile app installs.”
AppLovin controls the mobile app install ad stack end to end; durable outcome-delivery ad engine.
“if you are the exclusive provider for a large advertiser or a large source of demand... a good example is a company called The Trade Desk. Where Procter…”
The Trade Desk wins by being the exclusive demand outlet for big advertisers, staying out of Google/Facebook.
“The good news is being first doesn't matter... Your inventory is not going anywhere... Gemini doesn't need to monetize anytime soon. So they can just sit…”
Gemini can wait and win as a zero-ad or late-monetizing platform; no first-mover penalty, deep ad data.
“Great example is a company called Figma, actually. After I invested in Figma, I joined Square 1.5 years later. I tried to basically push Figma down top-down…”
Figma wins bottoms-up via self-serve, infiltrating even incumbent-locked design teams; durable insurgent.
“It is basically presenting an outcome to customer and saying, let's collaborate on outcomes. Palantir does that very well. Palantir goes to customers and say,…”
Palantir's outcome-based selling, solve it or don't pay, is the new enterprise playbook that wins.