Jeff Seibert: Why OpenAI Will Become an Infrastructure Play | E1085
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Jeff Seibert is the Founder & CEO @ Digits, building the future of AI-powered accounting. Digits have raised funding from the likes of Peter Fenton @ Benchmark and 20VC. Jeff previously served as Twitter’s Head of Consumer Product, a position he came to following the acquisition of his prior company, Crashlytics. Today, Crashlytics is the de-facto mobile crash reporting solution for iOS and Android and runs on over 6 Billion monthly active smartphones worldwide.
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Timestamps:
(0:00) Intro
(00:30) Investor Meetings and Twitter's Impact
(01:14) Childhood Ambitions and Product Design
(04:03) Entrepreneurial Struggles and Management
(08:26) CEO Accountability and Company Culture
(12:50) Digits: Origin and Evolution
(18:36) Business Pivots and Investor Interaction
(26:17) AI Impact and OpenAI's Challenges
(36:13) Data Privacy and AI Adoption Speed
(41:14) Angel Investing and Startup Outcomes
(54:25) Quick-Fire Round
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In Today’s Episode with Jeff Seibert We Discuss:
1. The Art of the Pivot:
What are Jeff’s biggest pieces of advice to founders pivoting?
How do you know when you have enough data to make the decision to pivot?
What are the single biggest mistakes founders make when pivoting?
2. AI: Who Wins and Who Loses:
Why does Jeff believe that OpenAI will transition into an infrastructure play?
What are the most significant challenges OpenAI will face moving forward?
Why does Jeff believe that Apple are best positioned to win in an AI world?
Why does Jeff believe that Google are the most vulnerable incumbent?
What would Jeff do if he was CEO of Google?
3. LLMs: What Happens Now:
Will we see the commoditization of LLMs?
What are the biggest misconceptions people have on training and fine-tuning LLMs?
Will we see LLMs increasingly specialise to vertical-specific models or will they remain horizontal?
What is the difference between a thick and a thin wrapper when building on top of LLMs?
4. Angel Portfolio in Review:
How many angel checks has Jeff written? How many failed? How many home runs?
Does Jeff believe that company valuations are being kept artificially high?
How did Jeff make 200x selling through the secondary market for a now failing company?
What are Jeff’s three biggest pieces of advice for angels today?
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