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Michael Billings

Scholar And Alumni at Ron Brown Scholar Program

Highlights

Oct 9 · twitter

Better (fashionably) late than never… … Main Street Summit 2024! 🤷‍♂️

✈️ > MCI > 🚗 > COU

#MSS #MSS24 #MainStreetSummit @MainStSummit @PermanentEquity https://t.co/wAvQCgaXAz

Better (fashionably) late than never…
… Main Street Summit 2024! 🤷‍♂️ 

✈️ > MCI > 🚗 > CO
Jul 19 · linkedin

Roelof Botha of Sequoia Capital and Alyson Shontell of Fortune had an insightful conversation at #BrainstormTech 2024 this past week in Park City, UT.

“The steward of [Sequoia Capital] one of Silicon Valley’s most successful #venturecapital firms shares his perspective on the elusive promises of artificial intelligence #AI, a funding landscape in flux [#LPs & #GPs], and #leadership in a time of perpetual change.”

MY Key Highlights (IMHO): ·     05:13: “...the return expectations in the venture industry are just NOT realistic.” In 2023 there was ~$130 BN of venture capital. To achieve a 12% Net IRR there needs to be value creation of ~$500 BN accruing to the venture firms and company value creation of ~$750 BN (because VCs tend to own 2/3 of a company) over a 7 or 8 year investment period. [I’m still figuring out the math on this one]. ·     11:26: jim goetz at Sequoia Capital came up with the term “crucible moment” and it's very similar to Jeff Bezos' [founder of Amazon] concept of a one-way door versus a two-way door… [crucible moments are] “one or two decisions a year that have an enormous bearing on the ultimate outcome of your company.” ·     14:40: “We think AI is a foundational technology… The most interesting in my mind are the application layer companies, and whether it's healthcare or financial services or cybersecurity or education, there's just so many different applications that we see.” ·     18:18: “Well, I think the characteristics we look for in founders have been the same for 50 years consistently. And a lot of that is looking for the quality of the idea and the unique insight that the founder has and the founders.” ·     20:54: “I think complacency is probably one of the biggest risks. The common thread in all Greek tragedies is hubris. And so that's the thing we need to guard against the most.”

Video (21:21):

Related Questions

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Michael Billings
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Experience

Cook, Server And Janitor At Alf's Restaurant at Alta Ski Area
Scholar And Alumni at Ron Brown Scholar Program

Education

Rowland Hall - St. Mark's School
Bachelor Of Science In Economics, University Of Pennsylvania
Master Of Science In Finance, University Of Utah - David Eccles School Of Business
Master Of Science In Finance, University Of Utah
Nols
Bachelor Of Science In Economics, The Wharton School

Location

Salt Lake City, Utah, United States