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Today’s show:

Bill Gurley, Brad Gerstner, and Jason Calacanis join David Weisburd to discuss the market downturn's impact on startups, including shutdowns and shifting investment strategies (1:29). They also debate the AI boom (54:50), chatbots' future potential and hype (1:01:11), and which tech giants may perform best or worst in 2024 (1:20:32).

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Timestamps:

(0:00) David Weisburd hosts Bill Gurley, Brad Gerstner, & Jason Calacanis to discuss the state of tech markets

(1:29) Startup shutdowns in 2023 vs dotcom crash

(3:52) Perspective on current market from Bill Gurley

(7:52) Brad's outlook on startup shutdowns continuing in 2024

(11:48) OpenPhone - Get 20% off your first six months at https://openphone.com/twist

(13:16) Different investor perspectives based on investment stage

(16:47) Altimeter's recent investing activity

(25:32) DevSquad - Get an entire product team for the cost of one US developer plus 10% off at http://devsquad.com/twist

(26:30) Reflecting on past IPOs and paths to building businesses for growth

(36:40) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/twist

(38:07) State of Series B/C deals in 2023 vs 2021 peak

(42:42) Why now is a great time to start a company

(47:17) Jason's theories for success in venture

(49:42) Abundance of technical talent in Silicon Valley and impact of AI on company size and competition

(54:50) AI investments in 2024

(1:01:11) Launguage models raising large rounds quickly and the potential for LLMs to hit a ceiling soon

(1:05:18) The best case for Meta being a leader in AI and Apple's position

(1:08:55) Importance of voice recognition for AI interfaces, challenges of enabling transactions via AI, and consumers choosing services via AI

(1:20:32) Picks for best and worst performing tech giants in 2024

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LINKS:

Unicorn Investors article: https://news.crunchbase.com/venture/top-unicorn-investors-eoy-2023/

Bill Gurley's Above the Crowd article: https://abovethecrowd.com/2011/05/24/all-revenue-is-not-created-equal-the-keys-to-the-10x-revenue-club/

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Follow David

X: https://twitter.com/DWeisburd

David's Podcast: https://limitedpartnerpodcast.com/

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Follow Brad

X: https://twitter.com/altcap

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Follow Bill

X: https://twitter.com/bgurley

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Follow Jason:

X: https://twitter.com/jason

Instagram: https://www.instagram.com/jason

LinkedIn: https://www.linkedin.com/in/jasoncalacanis

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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

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Check out Jason’s suite of newsletters: https://substack.com/@calacanis

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