Person
8 episodes · 17 quoted claims
Long Lake Management agreed to acquire American Express Global Business Travel in a deal valued at $6.3 billion.
“you've agreed to acquire American Express Global Business Travel, the world's largest corporate travel platform, for 6.3 billion, which is pretty amazing.”
Long Lake Management had completed roughly 30 acquisitions before the Amex GBT deal, based on transforming businesses with AI.
“And before that, you've already done 30 acquisitions under this premise that you can buy businesses and transform them with AI.”
Elad Gil describes the traditional private equity playbook as buying a business for a couple of years, loading it with debt and often cutting costs before flipping it.
“The traditional private equity playbook tends to be very short-term, right? They'll buy a business for a couple years, they'll put, they'll load it up with debt.”
Elad Gil recalled that Harvey's demos worked on GPT-4 but not GPT-3.5.
“I remember, are you showing side by side, GPT three point, five versus four? And what you were doing worked on four, but not on 3.5.”
Elad Gil said Cursor launched its IDE roughly two years before the recording.
“Cursor didn't really launch its IDE until 24 months ago, something like that, probably.”
Elad Gil says Nvidia chief Jensen Huang has told the show he has about 40 direct reports and does not hold one-on-one meetings.
“we've talked to Jensen a few times and he's pointed out, for example, he has like 40 direct reports, he doesn't do one on ones”
Decagon was founded in August 2023 and counts Rippling, Notion, Duolingo, ClassPass, Eventbrite and Vanta among its customers.
“Founded in August of 2023, their platform is already being used by large enterprises and fast-growing startups like Rippling, Notion, Duolingo, ClassPass, Eventbrite, Vanta, and more.”
Klarna's CEO said its AI assistant handled 2.3 million customer service chats in its first four weeks.
“his tweet basically said in the first four weeks, they handled 2.3 million customer service chats.”
Klarna's CEO reported the AI resolved customer issues in two minutes versus eleven minutes for a human agent.
“It resolved customer errands or issues in two minutes versus eleven minutes for a human agent.”
Klarna's AI assistant was reported to operate around the clock in 23 markets and 35 languages.
“instantly they were live twenty four seven in twenty three markets in thirty five languages because AI supports so many things.”
Elad Gil said Klarna shifted about 700 full-time agents to other work after adopting AI support.
“And I think, um, they sort of shifted 700 full-time agents to do other work, right?”
Klarna's CEO reported customer satisfaction on par with humans and a 25% reduction in repeat inquiries.
“The customer satisfaction was on par with humans. It's 25% reduction in repeat inquiries relative to people.”
Elad Gil named Cartesia, ElevenLabs, OpenAI and Google as providers of text-to-speech and speech understanding services.
“there's companies like Cartesia, ElevenLabs, OpenAI, Google, et cetera, who are starting to provide some of these services and APIs.”
Elad Gil cited the teams at Braintrust, Pika, Cognition and Decagon as AI startups with founders from math and coding competition backgrounds.
“But I think the Brain Trust team and the Pika team and Cognition, which launched Evan, and then you all all kind of have that common thread.”
A host says AWS revenue grew from about $500 million in 2010 to about $90 billion in the most recent year.
“I think you guys went from something like 500 million or so in 2010 to about 90 billion last year in terms of revenue for AWS.”
Host Elad Gil says four-year stock vesting schedules originated in the 1970s because companies then typically went public within four years.
“original, uh, vesting schedules were four years because companies would go public within four years, and so that's where the four year vest comes from for stock.”
Elad Gil relayed Ankur Goel's view that large enterprises adopt LLMs in sequence, often jumping to fine-tuning before first proving an idea with an existing API.
“there tends to be a very sequential adoption of LLMs by larger enterprises or people training models for the first time.”