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LLMs have three new capabilities that change the nature of search:

1. Intuitive leaps: LLMs can answer poorly written questions with spooky-accurate answers. Even when users only vaguely gesture towards what they are trying to say, LLMs can intuit what they actually mean.


2. Ingest and understand new materials: Because it’s easy to integrate an LLM into

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therefore necessary to introduce some elements of centralization and complexity as a stopgap pending more widespread consumer adoption of cryptocurrency. Thus, when examining the primary financial relationship Koji facilitates—that between an audience and a creator via web-based in-app purchases (a simple example of which would be a tip jar app)—we... See more

Sometimes I’ve had this feeling like someone is so much smarter than me and therefore I have no hope of competing. But usually what is really going on is that they are just more obsessed than me. Intelligence is good, and some amount is required, but the obsession is better.

Because of our genetic need for community, novelty, and connection, the markets for third places, communities, and experiences are massive. The experience economy is growing four times faster than the consumption economy, Starbucks is worth $103 billion, Country Clubs alone are a $24.5 billion industry in the United State, and the amount we spend o... See more

The insatiable desire for consumers to own nice things was suddenly interrupted by the coming of COVID-19, and experts are predicting a brutal contraction of up to one-third of the current luxury good market size this year.

Anecdotally, we have seen a surprisingly consistent pattern in the financial data of AI companies, with gross margins often in the 50-60% range – well below the 60-80%+ benchmark for comparable SaaS businesses. Early-stage private capital can hide these inefficiencies in the short term, especially as some investors push for growth over profitabilit... See more