Everett Randle

Jack Altman Verified account @jaltma · Oct 29

After 58 episodes of Uncapped it was time for a little format refresh.

Benchmark Breakfast, where @EverettRandle and I will talk about whatever's on our mind or in the news as though it's our monday partner meeting. Sometimes with guests sometimes without.

Here's the first one, let us know what you think 🤗

(0:00) Intro
(0:45) Introducing Benchmark Breakfast
(2:09) Anthropic S-1 drops
(3:59) The revenue vs. compute chart
(6:19) Growth volatility and consumption-based revenue
(7:11) The race for the best model
(10:21) Code gen saturation and software factories
(13:39) The AI-bottleneck trade
(17:39) Code gen as the most impactful PMF in history
(21:27) Durability is hard to call
(23:36) Investing in the trend vs. calling the next one
(26:09) Circular revenue vs. outside customers
(28:15) Open source vs. closed source steelman
(34:25) Own your intelligence
(36:29) Open source as a % of frontier spend
(40:52) AI and cybersecurity
(44:35) Abliterated models
(48:08) Bio, robotics, and physical abundance
(51:52) Why physical feedback loops are slower
(54:12) Ev’s dad and the promise of bio
(55:13) Halloween plans and the iPhone Duo

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Tamara Winter Verified account @tamarawinter · Oct 21

And now you can preorder the NOMAD LETTERS (out December 1!): press.stripe.com/nomad-letters

For years these letters have circulated (at first, unofficially) among investors, acquiring a devoted readership. We wanted to give them a permanent home in print.

Nick and his partner Qais Zakaria’s record is extraordinary. The letters are the account of how they got there, featuring everything from studying Amazon and Costco (Nomad’s defining investments)—to visiting cement plants in Zimbabwe, and beyond.

They’re candid about their mistakes and curious about the forces that shape investors’ behavior: incentives, psychology, and the wisdom (or foolishness!) of the crowd.

Since closing the fund, they’ve devoted their time to philanthropy, a journey Nick recounts in the lovely foreword he wrote for this edition.

I’m thrilled to continue adding to the investing corner of our catalogue, and I can’t think of a better work to follow Poor Charlie’s Almanack. ❣️

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Hone @hone · Oct 8

Today Hone launches Engines: AI that owns business outcomes.

Chatbots give answers. Agents do tasks. Engines deliver outcomes, and we hold them responsible for creating real value, measured in actual dollars instead of tokens or vibes.

You point it at a business metric, and the Engine figures out the rest. It onboards itself, builds the necessary agents, skills, and memories, collaborates with the right people, and gets better with experience.

From AI leaders to global enterprises, our customers have already used Engines to:

• Uncover millions in procurement savings
• Optimize product funnels
• Manage credit risk
• Increase qualified pipeline in new territories
• Accelerate implementations and improve account management

To scale this impact across the economy, we’ve raised a $60M seed led by Benchmark and Index with participation from Elad Gil, Hanabi, Definition, Diffusion, Lux, SV Angel, and Align.

AI’s raw capabilities are far ahead of the value it creates in the real world, and Engines will help close the gap.

Here’s how they work…

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