1 00:00:00,600 --> 00:00:03,720 Hi, I'm Eric Newcomer. And I am Madeline Rinbarger. 2 00:00:04,120 --> 00:00:06,960 And this is the newcomer podcast. 3 00:00:10,280 --> 00:00:14,000 Each week, Eric and I discuss the VC deals and the drama that 4 00:00:14,000 --> 00:00:15,840 went down. Let's do it. 5 00:00:16,040 --> 00:00:21,880 Here we go. Oh, a loyal supporter. 6 00:00:21,880 --> 00:00:25,400 Of the newcomer podcast, I, I think our first advertiser and 7 00:00:25,760 --> 00:00:27,800 Christina the CEO has been on the show. 8 00:00:27,960 --> 00:00:30,720 Anyway, without further ado, you're a start up founder 9 00:00:30,720 --> 00:00:32,920 finding product market. Fit is probably. 10 00:00:32,920 --> 00:00:35,960 Your number one priority. But to land bigger customers, 11 00:00:35,960 --> 00:00:39,200 you also need security compliance and obtaining your 12 00:00:39,200 --> 00:00:43,840 SoC 2 or ISO 27. 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Madeline, I, I sent you on a 33 00:01:50,960 --> 00:01:53,160 wild goose chase tracking that down. 34 00:01:53,240 --> 00:01:54,880 What, what happened? Like are we? 35 00:01:55,080 --> 00:01:58,160 Is the sky falling? We both kind of jumped on that 36 00:01:58,160 --> 00:02:00,600 in the editorial meeting early this week. 37 00:02:00,600 --> 00:02:02,880 I know. So yeah, I dug into that over 38 00:02:02,880 --> 00:02:05,400 the last couple days and the sky is not falling. 39 00:02:05,400 --> 00:02:07,120 Now is not the time to call the market peak. 40 00:02:07,120 --> 00:02:10,400 Microsoft basically reiterated in a follow up story to CNBC 41 00:02:10,400 --> 00:02:13,480 that they're still planning on spending $80 billion investing 42 00:02:13,480 --> 00:02:14,760 in AI infrastructure. So I. 43 00:02:14,800 --> 00:02:18,520 Know there was that iconic Satya clip where there is scrutiny 44 00:02:18,520 --> 00:02:22,040 around how much people are going to spend and Sacha is like, 45 00:02:22,080 --> 00:02:24,560 we're good for our 80 billion. You know, it's like, it would 46 00:02:24,560 --> 00:02:27,400 have been sad if he's like, cool, like we're doing it. 47 00:02:27,920 --> 00:02:30,760 Yeah, his gangster move. Yeah, exactly. 48 00:02:30,920 --> 00:02:35,040 No, So that is still their line. And the analyst note mentioned 49 00:02:35,040 --> 00:02:37,760 just a couple data centers that are not fulfilling all leases. 50 00:02:38,560 --> 00:02:40,720 Part of it is also, you know, they're really pivoting more 51 00:02:40,720 --> 00:02:44,040 into the US investment in AI infrastructure here rather than 52 00:02:44,040 --> 00:02:46,480 abroad. So it seems to be more of just a 53 00:02:46,480 --> 00:02:49,040 shuffling of resources. But the AI skeptics kind of had 54 00:02:49,040 --> 00:02:52,200 a field day with this. So I was kind of patrolling 55 00:02:52,200 --> 00:02:55,520 around talking to VCs and tech people like, this isn't a 56 00:02:55,520 --> 00:02:57,440 signal, is it? And basically everyone says. 57 00:02:57,600 --> 00:03:01,320 And we we had the big fortune story being like, you know, open 58 00:03:01,400 --> 00:03:03,880 AI can't deliver. You know, there there was some 59 00:03:04,600 --> 00:03:07,920 FUD, fear, uncertainty and doubt this week. 60 00:03:07,920 --> 00:03:13,080 I think in AI world, honestly, I think it has to do with the 61 00:03:13,080 --> 00:03:17,240 overall macro situation. It is like if if the economy 62 00:03:17,240 --> 00:03:20,760 comes off the rails, then the thing everybody's most bullish 63 00:03:20,760 --> 00:03:24,440 about could be be in trouble. You know, it's like growth, 64 00:03:24,560 --> 00:03:27,440 growth doesn't do well and panic. 65 00:03:27,440 --> 00:03:31,520 So I'm definitely getting more scared about the economy. 66 00:03:31,520 --> 00:03:34,560 A semaphore had a piece that the business world is already 67 00:03:34,560 --> 00:03:38,440 souring on Trump. The schizophrenia around tariffs 68 00:03:38,440 --> 00:03:41,560 is not good for business. Kind of proves your your 69 00:03:41,560 --> 00:03:43,120 argument you've had for a while now, Eric. 70 00:03:43,920 --> 00:03:47,360 Stability is good. Yeah, I don't know I'm not going 71 00:03:47,360 --> 00:03:50,640 to take too much credit on that. I didn't not the only one to say 72 00:03:50,640 --> 00:03:52,840 that, but anyway, back to AII mean. 73 00:03:52,840 --> 00:03:58,400 The funny thing is like we don't quite know is Microsoft sort of 74 00:03:58,400 --> 00:04:01,960 saying we were early so we already made the bet. 75 00:04:01,960 --> 00:04:04,960 Now we can sort of chill out while everybody over hypes it is 76 00:04:04,960 --> 00:04:08,320 the situation that open AI is sort of like ah, we don't love 77 00:04:08,320 --> 00:04:11,520 Microsoft as much we're gonna spend some time with Oracle. 78 00:04:11,520 --> 00:04:12,920 I don't know yeah right. It's. 79 00:04:13,080 --> 00:04:17,040 A follow up analyst note from the same group, TD Cowan said 80 00:04:17,440 --> 00:04:20,680 that a big part of this, you know, could be related to 81 00:04:20,880 --> 00:04:23,640 Oracle's new partnership with Open AI around Stargate. 82 00:04:23,680 --> 00:04:26,840 Of course, SoftBank is backing these data center investments in 83 00:04:26,840 --> 00:04:28,680 the US. So it's really just seems like 84 00:04:28,720 --> 00:04:31,960 there's more competition now, like Microsoft's, you know, lock 85 00:04:31,960 --> 00:04:35,160 on Open AI is no longer, you know, just one to one. 86 00:04:35,200 --> 00:04:37,480 I wouldn't panic. It seems much more tied to 87 00:04:37,480 --> 00:04:40,960 Microsoft's individual situation than it does to a overall call 88 00:04:41,200 --> 00:04:43,600 on AI investment. Everyone's ramping up. 89 00:04:43,600 --> 00:04:46,520 Medic is committing billions more in their latest, you know, 90 00:04:46,520 --> 00:04:50,320 announcements. So data center investment is on 91 00:04:50,320 --> 00:04:52,880 the rise overall. NVIDIA had its earnings. 92 00:04:52,880 --> 00:04:54,720 I don't know. We don't go crazy over public 93 00:04:54,720 --> 00:04:58,600 earnings here, but the market, I mean, NVIDIA seemed to deliver, 94 00:04:58,600 --> 00:05:00,320 right? Yeah, they beat. 95 00:05:00,480 --> 00:05:05,920 Net income increased 78 percent, 80%, but the the market sort of 96 00:05:05,920 --> 00:05:07,440 shrugged. Right. 97 00:05:07,440 --> 00:05:10,600 It's, it's kind of, I think to your point, it's another point 98 00:05:10,600 --> 00:05:13,400 to add to the argument that overall sentiment around the 99 00:05:13,400 --> 00:05:16,480 economy is what's driving this rather than actually anything 100 00:05:16,480 --> 00:05:19,760 coming from the performance because they beat projected 101 00:05:19,760 --> 00:05:22,400 earnings. But there's all this fear on 102 00:05:22,400 --> 00:05:24,800 tariffs in China and like they're chip business in China. 103 00:05:24,800 --> 00:05:28,040 So it again comes down to sort of the macro environment, fears 104 00:05:28,040 --> 00:05:31,080 around tariffs and the Trump administration's policy being 105 00:05:31,080 --> 00:05:33,240 not good for business. NVIDIA has been driving the 106 00:05:33,240 --> 00:05:35,840 whole market, so sort of does make sense. 107 00:05:35,840 --> 00:05:41,440 If any stock is subject to macro concerns, the ultimate market 108 00:05:41,440 --> 00:05:44,760 carrying stock would be we. What? 109 00:05:44,920 --> 00:05:49,880 Oh my God, in the worrying signs of the times perplexity raising 110 00:05:49,880 --> 00:05:54,520 a $50 million venture fund? Not not necessarily. 111 00:05:54,520 --> 00:05:57,680 The most optimistic fact is this. 112 00:05:57,840 --> 00:05:59,560 Are we bearish? Are we calling bear on 113 00:05:59,560 --> 00:06:01,280 perplexity? I mean, they've raised so much 114 00:06:01,280 --> 00:06:03,800 capital that they're now throwing it into a venture fund. 115 00:06:03,800 --> 00:06:06,880 Are they not building right now? They certainly are. 116 00:06:06,880 --> 00:06:09,400 I'm, I'm being a little harsh, but it seems like it's a 117 00:06:09,400 --> 00:06:13,760 partnership with some F7 ventures GPS and who will kind 118 00:06:13,760 --> 00:06:16,920 of plan and allocate the capital and lead deals. 119 00:06:16,920 --> 00:06:19,280 So it's not like they're, you know, fully pivoting to just 120 00:06:19,280 --> 00:06:21,040 becoming AVC fund. Fully. 121 00:06:21,040 --> 00:06:23,880 They're not pivoting, but it is when, you know, it's the 122 00:06:23,880 --> 00:06:26,680 classic, you seem distracted sort of sign. 123 00:06:26,720 --> 00:06:29,400 Tyler Cowen had an interesting piece just sort of rounding up 124 00:06:29,440 --> 00:06:32,960 sort of the AI news this week, basically explaining why he 125 00:06:32,960 --> 00:06:36,760 thought AI wasn't going to have as huge of an impact near term 126 00:06:36,760 --> 00:06:38,840 on GDP growth as some might hope. 127 00:06:39,160 --> 00:06:43,200 With I think his core point being that human beings, we we 128 00:06:43,200 --> 00:06:46,440 remain the problem and that the sectors that need the most 129 00:06:47,240 --> 00:06:51,600 improvement like healthcare and education are the ones that are 130 00:06:51,600 --> 00:06:55,600 often most resistant to AI. Yeah. 131 00:06:55,600 --> 00:06:58,320 And beyond that, you know, construction and services, a lot 132 00:06:58,320 --> 00:07:00,720 of industries where it's clear that there are AI tools getting 133 00:07:00,720 --> 00:07:03,840 built that can really benefit these industries, but they're 134 00:07:03,840 --> 00:07:07,360 heavily regulated and getting that tech integrated into the 135 00:07:07,360 --> 00:07:09,560 workflows. It just takes a lot of time. 136 00:07:09,560 --> 00:07:12,360 And business leaders in the sectors are just really slow to 137 00:07:12,360 --> 00:07:14,240 adopt new technology, almost famously. 138 00:07:14,240 --> 00:07:17,160 So a bunch of the government being another key player here, 139 00:07:17,160 --> 00:07:19,800 you know, like government adoption is huge part of our 140 00:07:20,000 --> 00:07:23,760 economy, but it's going to take a while for AI to get there. 141 00:07:23,920 --> 00:07:25,400 I think it was honestly a fair take. 142 00:07:25,400 --> 00:07:26,800 It's definitely not a bearish take. 143 00:07:26,800 --> 00:07:28,560 He's still very bullish on the technology. 144 00:07:28,800 --> 00:07:31,640 Oh, yeah, yeah, yeah. I mean, I think it sort of 145 00:07:31,640 --> 00:07:34,160 describes where we sit. I mean, it's like, yeah, 146 00:07:34,560 --> 00:07:39,040 important technology, but it's not at the moment the stuff of 147 00:07:39,040 --> 00:07:42,840 sci-fi. Speaking of, as we're recording 148 00:07:42,840 --> 00:07:45,920 this, I think there is a live stream right now that Open AI, 149 00:07:46,200 --> 00:07:48,680 it's Thursday at like 3:30 Eastern. 150 00:07:49,000 --> 00:07:56,120 And I think Open AI is sharing GPT 4.5 which is I guess notably 151 00:07:56,160 --> 00:08:00,080 not 5. It is still their largest and 152 00:08:00,080 --> 00:08:02,640 most knowledgeable model yet. They, they've said, you know, 153 00:08:02,640 --> 00:08:05,880 but it's not a frontier model and they've kind of, they've 154 00:08:05,880 --> 00:08:08,640 kind of hedged it. It is its largest LLM and it's 155 00:08:08,640 --> 00:08:11,440 improving on GPT 4's computational efficiency by more 156 00:08:11,440 --> 00:08:13,400 than 10X. The company sent a statement. 157 00:08:13,400 --> 00:08:17,320 So it certainly is a step up. It's just not quite at what 158 00:08:17,320 --> 00:08:19,960 maybe we were predicting GPT 5 to be in this. 159 00:08:20,040 --> 00:08:21,960 Where's my PhD? I need you. 160 00:08:23,040 --> 00:08:26,640 Know you need your PhD. Assistant PhD at my fingertips 161 00:08:26,640 --> 00:08:29,960 and I will accept nothing less. That's our roundup of all of the 162 00:08:30,160 --> 00:08:32,720 AI news of the week. Seems like there were just gobs 163 00:08:32,720 --> 00:08:34,480 of it. But moving on, there's also 164 00:08:34,480 --> 00:08:37,400 media news of the week that Eric you got involved in, as per 165 00:08:37,400 --> 00:08:40,000 usual. What's the point of having a 166 00:08:40,000 --> 00:08:43,240 podcast where you can talk about whatever you want then to talk 167 00:08:43,240 --> 00:08:48,120 endlessly about media, self referentialist industries. 168 00:08:48,480 --> 00:08:51,480 Two big things happened that I was opining about on Twitter and 169 00:08:51,640 --> 00:08:57,200 I will talk about here. 1 Jeff Bezos said that the Washington 170 00:08:57,200 --> 00:09:01,200 Post opinion page would now be oriented around free markets and 171 00:09:01,200 --> 00:09:03,920 personal liberty, which. It sounded very like we're 172 00:09:03,920 --> 00:09:05,680 trying to copy the Wall Street Journal. 173 00:09:05,680 --> 00:09:07,640 Exactly. There already is a paper that 174 00:09:07,640 --> 00:09:09,800 does this. I also joked, you know, I, I 175 00:09:09,800 --> 00:09:13,040 wrote honestly before Trump was elected, I was tweeting the 176 00:09:13,040 --> 00:09:15,600 newcomer is pro capitalist blah blah blah. 177 00:09:15,840 --> 00:09:17,560 Yeah, we've been on this before. It was cool. 178 00:09:17,560 --> 00:09:20,600 Yeah, exactly. Which whenever the other people 179 00:09:20,600 --> 00:09:23,600 join you to the party, then I'm naturally by disposition, like 180 00:09:23,960 --> 00:09:25,680 not a party I want to be in anymore. 181 00:09:25,680 --> 00:09:29,000 Like overcrowded. I'm like, so I guess markets are 182 00:09:29,000 --> 00:09:30,120 getting overhyped. I don't know. 183 00:09:30,120 --> 00:09:32,560 What did you What was your reaction to the Washington Post 184 00:09:32,560 --> 00:09:35,480 news? I found it frankly just 185 00:09:35,520 --> 00:09:39,080 pandering to the presidential administration. 186 00:09:39,120 --> 00:09:43,320 I I took it as just like, oh, we're not going to hit you too 187 00:09:43,320 --> 00:09:45,440 hard on this. We're going to focus on markets 188 00:09:45,440 --> 00:09:48,320 and stay out of politics and have kind of this free market 189 00:09:48,320 --> 00:09:51,600 idea. But also it just felt so like it 190 00:09:51,600 --> 00:09:54,480 just, it felt like a statement that came from the same place 191 00:09:54,480 --> 00:09:57,160 that his non endorsement in the presidential race came from. 192 00:09:57,360 --> 00:10:00,320 And the more worrying thing to me over any of this, it's like, 193 00:10:00,320 --> 00:10:01,840 obviously this is the editorial board. 194 00:10:01,840 --> 00:10:04,320 It's not like taking control of The Newsroom and what they're 195 00:10:04,320 --> 00:10:08,200 publishing in straight news. But it did just feel more like, 196 00:10:08,240 --> 00:10:10,280 oh, well, of course if you're a billionaire and you buy a 197 00:10:10,280 --> 00:10:13,560 newspaper, you're gonna influence what's in the paper. 198 00:10:13,600 --> 00:10:15,160 That's what this is a beautiful part. 199 00:10:15,600 --> 00:10:19,560 Well, I I sort of you know, I'm we're very small publication, 200 00:10:19,560 --> 00:10:22,920 but you know, owner, publisher, author and it's like I 201 00:10:22,920 --> 00:10:26,040 certainly, you know, no matter how big newcomer gets, you know, 202 00:10:26,040 --> 00:10:28,600 it's my name. I wouldn't want to really having 203 00:10:28,600 --> 00:10:31,760 opinions that were so far from my own. 204 00:10:32,120 --> 00:10:34,160 So I'm sympathetic. Like, why buy a media 205 00:10:34,160 --> 00:10:37,280 organization if you can't shape the perspective? 206 00:10:37,520 --> 00:10:40,680 But I mean, it's a half half joking sort of take. 207 00:10:41,080 --> 00:10:44,280 I mean, I do think, you know, you're ACEO, you hire people to 208 00:10:44,280 --> 00:10:47,000 do things better than you. And I think you know, David 209 00:10:47,000 --> 00:10:50,000 Shipley, who's running the opinion section and a lot of 210 00:10:50,000 --> 00:10:52,160 people over there, they're paying more attention to like 211 00:10:52,440 --> 00:10:54,160 the great debates. They're thinking about these 212 00:10:54,160 --> 00:10:56,880 things more. Jeff Bezos is, you know, 213 00:10:56,880 --> 00:11:00,200 chairing Amazon, thinking about Blue Origin and spending a lot 214 00:11:00,200 --> 00:11:02,040 of time seemingly partying in Miami. 215 00:11:02,040 --> 00:11:07,160 So like, is he, is he dialed into the debates of our time? 216 00:11:07,160 --> 00:11:10,360 I don't know. Should he be micromanaging them? 217 00:11:10,360 --> 00:11:14,600 You know, I, I, I think, you know, there, there are lots of 218 00:11:14,680 --> 00:11:18,440 conflicting impulses on the Jeff Bezos Washington Post situation. 219 00:11:19,240 --> 00:11:23,720 But I do agree with you that the, the conflicts are really 220 00:11:24,080 --> 00:11:26,840 unappealing. I mean, hence Smith said on this 221 00:11:26,840 --> 00:11:31,520 podcast a year plus ago, like, we're all in sort of the courts 222 00:11:31,520 --> 00:11:35,240 of billionaires. And like, you can really feel it 223 00:11:35,320 --> 00:11:40,640 with this, where it's just like Jeff Bezos's personal, you know, 224 00:11:40,640 --> 00:11:42,680 interactions with Trump matter a lot. 225 00:11:42,680 --> 00:11:44,600 And we don't really get a lot of visibility into it. 226 00:11:44,840 --> 00:11:48,280 And that's impacting what was once, you know, the second most 227 00:11:48,280 --> 00:11:50,440 important newspaper in the country. 228 00:11:50,440 --> 00:11:53,800 And that that's just like, it's it's a sad statement for 229 00:11:53,800 --> 00:11:57,200 journalism, obviously. And that that's really sad. 230 00:11:57,280 --> 00:12:01,960 And I do think like, not to talk my own book, but like Newcomer, 231 00:12:02,200 --> 00:12:05,000 when we put stuff out, it's like, yes, it reflects my 232 00:12:05,000 --> 00:12:08,200 sensibility, but then you can interrogate all of me and I 233 00:12:08,200 --> 00:12:10,760 respond and I engage with Jeff Bezos. 234 00:12:10,760 --> 00:12:14,040 It's still like he's not going to take culpability for every 235 00:12:14,040 --> 00:12:17,160 opinion piece in the Washington Post and he's not going to be 236 00:12:17,160 --> 00:12:19,880 answerable to them. So it's sort of like, I'm going 237 00:12:19,880 --> 00:12:24,160 to put my thumb on the scale in a somewhat hard to assess way, 238 00:12:24,400 --> 00:12:27,120 in a way that you could never really fully hold me accountable 239 00:12:27,120 --> 00:12:30,040 for what's published. And so then it's sort of, it's 240 00:12:30,040 --> 00:12:31,920 tainted. It's not a publication that's 241 00:12:31,920 --> 00:12:35,080 like, we're trying to represent the legitimate debate in the 242 00:12:35,080 --> 00:12:37,600 United States right now. It's like, oh, it's sort of 243 00:12:37,600 --> 00:12:40,720 relevant to what Bezos thinks, but not enough that he'll 244 00:12:40,720 --> 00:12:44,440 actually take ownership, answer questions and like, do the hard 245 00:12:44,440 --> 00:12:48,600 work of having a coherent ideology represented in the 246 00:12:48,600 --> 00:12:50,800 pages. So I just think it's a solution 247 00:12:52,040 --> 00:12:53,480 that's not going to leave anybody happy. 248 00:12:54,200 --> 00:12:57,280 Another piece this week too, that you got involved in, Eric. 249 00:12:57,720 --> 00:13:01,400 You know Brian Johnson of Longevity fame was front running 250 00:13:01,400 --> 00:13:03,880 when he claimed to be a New York Times hit piece coming out about 251 00:13:03,880 --> 00:13:06,240 him. Everything has become tactical. 252 00:13:06,280 --> 00:13:11,160 I was most upset that like journalists get tagged with 253 00:13:11,160 --> 00:13:14,560 like, oh, they have they're he's like, they have an obligation to 254 00:13:14,560 --> 00:13:18,480 be like fair and accurate and objective objective. 255 00:13:18,840 --> 00:13:22,600 I don't I don't agree, but but it's like the journalists get 256 00:13:22,600 --> 00:13:25,760 like this sort of, oh, you've taken on moral obligations, 257 00:13:25,760 --> 00:13:29,040 whereas I'm just like a wild person who just flings shit at 258 00:13:29,040 --> 00:13:31,080 the wall and like nobody cares, you know. 259 00:13:31,240 --> 00:13:35,720 So I hate that sort of idea that because journalists have taken 260 00:13:35,720 --> 00:13:39,320 on certain ethical expectations that somehow they should be 261 00:13:39,320 --> 00:13:42,680 viewed more harshly then sort of the influencer class who just 262 00:13:42,680 --> 00:13:46,480 like says whatever they want and acts with pure sort of self 263 00:13:46,480 --> 00:13:49,240 interested strategic opportunism. 264 00:13:49,280 --> 00:13:51,800 And so, you know, I keep hammering this point that I'd 265 00:13:51,800 --> 00:13:54,600 rather be an influencer slash creator that exceeds 266 00:13:54,600 --> 00:13:57,960 expectations than a journalist who disappoints them. 267 00:13:57,960 --> 00:14:01,480 You know, we live in this world where if winning means winning 268 00:14:01,480 --> 00:14:05,160 the battle on social media, like better to just like have better 269 00:14:05,160 --> 00:14:08,040 results than the person you're arguing with, then have the 270 00:14:08,040 --> 00:14:11,160 person you're arguing with be saying, well, you hold yourself 271 00:14:11,160 --> 00:14:15,480 out to be some beacon of morality and I'm just a mere 272 00:14:16,240 --> 00:14:19,720 billionaire in some cases. You know, it's like the media, 273 00:14:19,760 --> 00:14:22,160 they know they I'm a billionaire on Twitter. 274 00:14:22,160 --> 00:14:25,440 Just Elon literally is saying, you know, next to the president, 275 00:14:25,440 --> 00:14:28,080 like, oh, yeah, we're going to get some stuff wrong, you know, 276 00:14:28,080 --> 00:14:30,680 but it's like if there are a reporter ever gets something 277 00:14:30,680 --> 00:14:33,560 wrong. And so, you know, in the very 278 00:14:33,560 --> 00:14:37,080 minutiae of journalism, I think the idea that it Brian Johnson's 279 00:14:37,080 --> 00:14:40,440 taking advantage of a Fact Check to wield it against the 280 00:14:40,440 --> 00:14:43,400 reporter, it just sort of disincentivizes good fact 281 00:14:43,400 --> 00:14:46,560 checking with highly hostile sources, you know? 282 00:14:47,440 --> 00:14:50,440 And now moving on to our deal of the week, UK based Lovable, a 283 00:14:50,440 --> 00:14:54,120 developer tools company raised an additional 15,000,000 in 284 00:14:54,120 --> 00:14:59,000 fresh BC funding led by Creandem and angels including Lenny 285 00:14:59,080 --> 00:15:02,280 Richitsky. They had raised a 7.5 million 286 00:15:02,280 --> 00:15:05,440 precede back in October. But the biggest most impressive 287 00:15:05,440 --> 00:15:08,160 part of this raise, which is why we're talking about it here is 288 00:15:08,160 --> 00:15:12,280 they did zero to 17,000,000 AR in three months and they're 289 00:15:12,280 --> 00:15:14,760 still growing exponentially. That is of course, per their 290 00:15:14,760 --> 00:15:18,520 disclosure, but that's. Lovable is a idea to app in 291 00:15:18,520 --> 00:15:20,240 seconds according to the website. 292 00:15:20,760 --> 00:15:23,800 Looks like use chat build build an app. 293 00:15:25,320 --> 00:15:29,440 Yeah, the coding and app building, clearly one of the 294 00:15:29,440 --> 00:15:32,800 hottest use cases out there. And it's gaining huge traction. 295 00:15:32,800 --> 00:15:37,520 I mean, that's just a incredible run rate just with such a small 296 00:15:37,520 --> 00:15:40,600 team. I feel like it's also notable 297 00:15:40,600 --> 00:15:42,720 that it's, you know, coming out of London, which, you know, a 298 00:15:42,720 --> 00:15:47,040 lot of people have not pegged London as the hub of this AI 299 00:15:47,040 --> 00:15:49,200 revolution. The UK is in the game still. 300 00:15:49,240 --> 00:15:50,640 I don't know. There's there's promising 301 00:15:50,640 --> 00:15:53,560 developers there. We're bullish off this lovable 302 00:15:53,560 --> 00:15:56,040 deal. You know, Stripe did their, 303 00:15:56,600 --> 00:15:59,280 they, they really promote their investor letter, but it is 304 00:15:59,480 --> 00:16:03,600 interesting and they, they chart sort of the growth rate of 305 00:16:03,600 --> 00:16:08,560 companies on Stripe break broken down by AI versus SAS. 306 00:16:08,960 --> 00:16:13,520 And it shows that the AI companies took 24 months to get 307 00:16:13,600 --> 00:16:18,040 to 5 million in annualized revenue, whereas SAS companies 308 00:16:18,320 --> 00:16:21,600 took 37 months. So well, you know, there are 309 00:16:21,600 --> 00:16:24,920 lots of questions, you know, what are the modes, blah, blah, 310 00:16:24,920 --> 00:16:27,680 blah. The, the reality is many of 311 00:16:27,680 --> 00:16:30,560 these AI companies are growing much faster than we saw with 312 00:16:30,560 --> 00:16:33,000 SAS. And so that's got investors 313 00:16:33,040 --> 00:16:35,240 really excited. Before we go, we have an 314 00:16:35,240 --> 00:16:37,280 important announcement here on Team Newcomer. 315 00:16:37,280 --> 00:16:39,720 We're doing another reader mailbag next week. 316 00:16:40,120 --> 00:16:43,960 Important. What a big announcement we have. 317 00:16:44,120 --> 00:16:47,000 We are doing huge. Yeah. 318 00:16:47,040 --> 00:16:50,520 Just send us your questions. You can, you can comment, you 319 00:16:50,520 --> 00:16:52,680 can e-mail us. We're both first name at 320 00:16:52,680 --> 00:16:56,480 newcomer.co. We have a Google form on the 321 00:16:56,480 --> 00:16:58,640 newsletter. If you look at the mailbag post, 322 00:16:59,680 --> 00:17:03,200 it's if you want to be anonymous, just say so. 323 00:17:03,200 --> 00:17:06,880 We'll honor it. We're also inviting screeds. 324 00:17:06,920 --> 00:17:08,920 You're welcome to opine I I won't. 325 00:17:08,920 --> 00:17:10,079 Necessarily, this is. One of those. 326 00:17:10,160 --> 00:17:14,160 Rare times where a comment as a question is actually very 327 00:17:14,160 --> 00:17:17,440 welcome, so. Also, while we have the format, 328 00:17:17,440 --> 00:17:20,960 just like send us your scoop ideas or give us tips, you know, 329 00:17:21,440 --> 00:17:25,040 but but yeah, we'll answer your questions next week, so send 330 00:17:25,040 --> 00:17:26,599 them along. That's our show. 331 00:17:26,760 --> 00:17:27,480 Thanks for listening.