A16Z - Views expressed are my own.
San Francisco, CA
Joined January 2010
- Tweets1.8K
- Following248
- Followers622
- Likes65
Kevin Deeth retweeted
my boss is a BOSS: “The gift is one of the largest ever made to a children’s hospital in the United States”
incredible contribution to Vegas, thanks to the generosity of @FeliciaHorowitz @bhorowitz 👶🏼❤️💪
Kevin Deeth retweeted
a16z's David George, Sarah Wang, Alex Immerman, and Santiago Rodriguez on the State of Markets, from AI and infrastructure to the next investment cycles:
1. Tech is the everything cycle.
High-tech equipment, software, and R&D are now about 55% of US capital spending, and the AI buildout just passed the railroads as a share of GDP. The five largest hyperscalers will spend about $780B on capex this year, heading past $1T in 2027, and demand still outstrips supply at every point in the chain.
2. It's an earnings story.
Stocks are up about 20% while multiples are down about 20%, and the S&P trades under 20x earnings. The market is up 90% since ChatGPT, on 15% earnings growth.
3. AI adoption is broad and shallow.
69% of the S&P 500 has a live AI deployment, 30% report a quantified result, and just 2% have AI doing a job they'd notice if it stopped. The power users are pulling away: the top 1% of AI spenders spend eight times the top 10%.
4. The private markets are enormous.
Six private companies, Anthropic, OpenAI, Databricks, Stripe, Waymo, and Revolut, add up to about $2.4T by last round, more than every IPO of the past decade combined. "The founder is the asset class. The IPO is another financing event."
Plus: why a data center can lower your electricity bill, what Amazon saying no to Muse and Instacart saying yes tells you about marketplaces, and the seven areas the team is most excited about next.
0:59 Charts from State of Markets II
2:59 Tech is the everything cycle
4:56 Is it a bubble?
6:31 Hyperscaler CapEx: $1T next year
12:12 CapEx is someone else's order book
14:36 Data centers can lower your bills
17:06 OpenAI and Anthropic vs. some of the best software companies ever
18:22 Enterprise AI: 69% adopted, 2% measured
20:32 The top 1% spend 8x the top 10% on AI
24:36 Spending on AI for growth or for savings?
28:46 Only 2% of households pay for AI
31:36 Amazon blocks Muse, Instacart welcomes
36:16 Software traded growth for profit
42:56 6 startups vs. a decade of IPOs
45:46 Why employees are turning down liquidity
48:44 Seven areas they're excited about
YouTube: youtu.be/lr3hNhA0IfQ
@DavidGeorge83 @aleximm @santiago__rdz @sarahdingwang
Kevin Deeth retweeted
Firm > Fund
The firm, known for its focus on software, is going to start throwing more money at the hardware behind AI.
spr.ly/6010B10mvu
Kevin Deeth retweeted
Firm > Fund. Team > Individual! 🫡
A16z’s Martin Casado: Bullish on AI Apps, Bearish on Lone Ranger VCs newcomer.co/p/a16zs-martin-c… @cityofthetown
Kevin Deeth retweeted
It been truly a lifetime honor to see this legend in the making and not slow down a bit over a 10-year run.
Proud of the team who worked tirelessly behind both companies. It always takes a village to make legends!!
total a16z takeover. cursor acquired by @spacexai for $60b (up 150x from $400m series a), $5m run rate to $4b in 2026
openrouter acquired by @stripe for $8b. up 160x fom $62.5m seed
@martin_casado truly hall of fame, 96-97 jordan
Kevin Deeth retweeted
A lot gets written about @eriktorenberg, and for good reason. He is exceptional.
One of his superpowers is assembling the freaking Avengers of new media. @samkkaufman is 🐐 status on socials.
We're lucky to work with this squad. They're hiring.
I started working for Erik at Turpentine in 2023 as a lonely, unsure, curious college student. I spent all day on Twitter and daydreamed about dropping out to move to SF because that's what cool smart people on Twitter did. I avidly listened to Turpentine podcasts like Moment of Zen (rip) and Upstream, and working on those podcasts felt like the best way to get closer to the illustrious world of tech Twitter I so longed to be a part of.
18 months later Turpentine was acquired by a16z. Erik asked me if I wanted to be an intern on the New Media team. I called my parents, texted my friends, the whole shabang. It was awesome.
Over the summer I turned my years of a crippling addiction to lurking on X into a full time job leading socials here. This is the greatest first real job I could ever imagine. Erik and the team (@liangsays @humford @richardzphotoz @theojaffee to name a few on a long, long list) have been life changing mentors and friends. I have grown more in the past year than I can remember growing in a single year.
I did eventually finish college online, but I took a leave of absence for a semester to LARP as a college dropout in SF. Thank you Erik for believing in me, changing my life, and enabling me to accomplish things I'd never imagined doing.
If you:
- Are young, hungry, humble, and online
- Move quickly
- Want a path into venture/tech media
Apply!
Kevin Deeth retweeted
outside of the US, Korea has the most valuable companies in the world.
President @Jaemyung_Lee just mogged the last 24 hours in SF, signing $950B+ deals with Nvidia, OpenAI & co.
He closed it out with the leading VC firms incl. @martin_casado, talking about the next generation of Korean startups. v bullish on more of the world's most valuable companies coming from Korea 🇰🇷🇺🇸 💪
Kevin Deeth retweeted
There’s an insane amount of alpha in:
- People in SF leaving SF to see how people and companies around the world are using AI (hint: most are still using it primarily as search)
- People outside SF spending even two weeks in SF to see how people and companies are operating here (hint: many are already living in the future)
This may be obvious to some, but the gap right now is staggering. The global diffusion of AI is a massive opportunity.
Kevin Deeth retweeted
I'm increasingly convinced that burnout doesn't come from working long hours or weekends. The people I know who burned out were the ones who were really bored with their work, not the ones who worked the most hours. Burnout comes from working on things that don't energize you.
Kevin Deeth retweeted
Hosting VC/LP mixer in SF on April 30.
Panel on raising a fund in the post-ZIRP era with:
- @kdeeth (@a16z)
- @andychen (@OutcastVC)
- @jasonfreedman (orangecollective.vc)
Then 2 hours of actual networking.
Appetizers, light drinks, Colossus-style portraits included.
Sponsored by @sydecario and @rhobusiness.
Free. Closed. For VCs and LPs only: luma.com/mhoa1kh6
Kevin Deeth retweeted
Congrats @elevenlabs on the $500M raise.
When signing the Series A term sheet, @matiii and I talked about reaching the $11B valuation milestone.
It only took 3 years to get here, with a strong close in 2025 with $330M in ARR.
We are releasing something special soon. Excited to show everyone the DNA of this incredible company.
Kevin Deeth retweeted
Congratulations to @SpaceX, @xai and @X. We at @a16z are honored to be part of your journeys. Thrilled to see you take this step into the future together. Ad astra!
@sarahdingwang
SpaceX has acquired xAI, forming one of the most ambitious, vertically integrated innovation engines on (and off) Earth → spacex.com/updates#xai-joins…
Kevin Deeth retweeted
Firm > Fund
a16z: The Power Brokers
There is this story about Marc Andreessen that I think perfectly captures a16z.
in 2015, when New Yorker writer Tad Friend sat down to breakfast with Marc Andreessen while writing Tomorrow’s Advance Man.
Friend had just heard from a rival VC who wanted to get a word in: that a16z’s funds were so large, and ownership percentages so small1, that to get 5-10x aggregate returns across its first four funds, they’d need their aggregate portfolio to be worth $240-480 billion.
“When I started to check the math with Andreessen,” Friend writes, “He made a jerking-off motion and said ‘Blah-blah-blah. We have all the models—we’re elephant hunting, going after big game!’”
The aggregate portfolio did not end up being worth $240-480 billion. a16z Funds 1-4 had a total enterprise value of $853 billion at distribution or latest post-money valuation. Since distribution, Facebook alone has added $1.5 trillion in market cap.
Some form of this pattern keeps playing out: a16z makes a crazy bet on the future. Those in the know say it’s stupid. Wait some years. Turns out it’s not stupid!
Which is why, as a16z announces $15 billion in fresh funds, it is probably a mistake to dismiss them as greedy or stupid.
It's probably worth understanding just exactly what IT'S TRYING TO BUILD.
That's what I do in today's not boring deep dive:
a16z: The Power Brokers
