Early in my tech career, I used to make investors sign an NDA before I would even speak to them.
I was worried that if somebody knew my idea, I could be outpaced or out-executed. Secrecy was an asset as it allowed me to build without tipping off any potential competitors.
Over the last decade, my view on this has completely changed. I no longer believe that being secretive was helpful. In fact, it might have been detrimental to hiring and raising capital.
What I have learned is that the only real competitive advantage in technology is the number of product iterations and the progress made between those iterations. Essentially, I value the rate of progress in the highest regard.
I no longer worry about someone copying me, nor do I think it matters. What matters is my team’s ability to execute at the fastest possible rate and to continue innovating over time. I also believe that sharing publicly is net beneficial for many reasons, including hiring top talent who understand your vision, raising capital from investors who are following your story, signing commercial customers, gathering feedback, and the list goes on. So I’ve been building my companies in public and I urge my fellow founders to do the same.
The rate of technological progress is the only true competitive advantage.
A lot of investors ask my view on a particular company or sector. I always suggest looking for the company that is progressing the most per unit time. If i was an investor, i would have a heuristic for pace of innovation.
also a bit unfair to myself 15 years ago, i am likely 10x faster at executing technology progress per unit time today than i was then.
i’ve gotten better at the team efficiency, decision making, capital allocation, system testing - all of which compound to faster execution
Excited to share: Figure raises $675M at $2.6B Valuation
+ OpenAI & Figure signed a collaboration agreement to develop next generation AI models for robots
Below are the details:
@Figure_robot @OpenAI $675M Series B investments from:
- Microsoft
- OpenAI Startup Fund
- NVIDIA
- Jeff Bezos (through Bezos Expeditions)
- Parkway Venture Capital
- Intel Capital
- Align Ventures
In addition, OpenAI & Figure signed a collaboration agreement to develop next generation AI models for humanoid robots
The collaboration aims to help accelerate Figure’s commercial timeline by enhancing the capabilities of humanoid robots to process and reason from language
Google, Meta, Berkeley, Carnegie Mellon, OpenAI, and Samsung all made major progress over the past two weeks.
Here's everything you need to know:
Google's AI researchers revealed Lumiere, a breakthrough model for AI video.
Lumiere uses a "space-time" neural network to generate clips in a single pass, as opposed to other models that create distant keyframes.
We'll see text-to-movie in 2024.
Google also released its latest Chrome browser update, introducing 3 new AI features.
-Tab Organizer to sort open tabs into groups
-AI themes to personalize browsers using gen AI
-'Help me write' to provide AI-generated suggestions for website text