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VOICE ARCHIVE

Bill Gurley

@bgurley
246 posts
2026-02-13
@danprimack Somewhat fungible. What is they use cash to do it 5 months later?
2026-02-13 View on X
Wall Street Journal

Anthropic adds Chris Liddell, a former Microsoft and GM exec who helped GM IPO and worked in Trump's first administration, to its board ahead of a potential IPO

The former Microsoft and GM executive Chris Liddell has previously worked for the Trump administration

@danprimack Somewhat fungible. What is they use cash to do it 5 months later?
2026-02-13 View on X
Anthropic

Anthropic raised a $30B Series G led by GIC and Coatue and co-led by D. E. Shaw, Dragoneer, Founders Fund, Iconiq, and MGX at a $380B post-money valuation

We have raised $30 billion in Series G funding led by GIC and Coatue, valuing Anthropic at $380 billion post-money.

2026-02-02
Really enlightening (and detailed) article from @zijing_wu about a special program in China where 100K teenagers are funneled each year into a special “genius” program. Stark contrast to school districts in the US cancelling “gifted” programs.
2026-02-02 View on X
Financial Times

A look at China's “genius class” system, which picks ~100K gifted teens annually for elite science-focused schooling; its alumni span ByteDance, PDD, and more

2026-02-01
Really enlightening (and detailed) article from @zijing_wu about a special program in China where 100K teenagers are funneled each year into a special “genius” program. Stark contrast to school districts in the US cancelling “gifted” programs.
2026-02-01 View on X
Financial Times

A look at China's “genius class” system, which picks ~100K gifted teens annually for elite science-focused schooling; its alumni span ByteDance, PDD, and more

A network of ultra-competitive high-school talent streams has been turning out the leading lights of science and tech

2026-01-26
This is quite well written; important reflection on the current environment. I would add one more thing. Most of these rounds are preemptive. The investor suggested it - it wasn't the company's initiative. A finance form of the observer effect. https://grokipedia.com/...
2026-01-26 View on X
SaaStr

Many AI founders now find it necessary to raise at valuations requiring absolute domination of the field; Brex, once valued at $12B, shows the downsides of this

Capital One just announced it's acquiring Brex for $5.15 billion.  An incredible, top .1% “exit” in less than 10 years …

2026-01-03
I really enjoyed @danwwang year end letter - and highly recommend a read. Here is my favorite paragraph: https://danwang.co/... [image]
2026-01-03 View on X
Dan Wang

Tech analyst Dan Wang reflects on the Chinese Communist Party vs. Silicon Valley, AI and manufacturing, how China and the US are building the future, and more

danwang.co/2025-letter/ Conor Sen / @conorsen : This is how I learned I'm a better fit for finance culture and tech culture.  You only succeed in tech culture by fully embracing th...

2026-01-02
I really enjoyed @danwwang year end letter - and highly recommend a read. Here is my favorite paragraph: https://danwang.co/... [image]
2026-01-02 View on X
Dan Wang

Tech analyst Dan Wang reflects on the Chinese Communist Party vs. Silicon Valley, AI and manufacturing, and how China and the US are building the future

One way that Silicon Valley and the Communist Party resemble each other is that both are serious, self-serious, and indeed, completely humorless.

2025-12-26
Odd way to say “I was wrong”.
2025-12-26 View on X
Bloomberg

Nvidia agrees to a licensing deal with Groq; CEO Jonathan Ross and other top executives will join Nvidia; Groq says it will continue operating independently

anybody who knows anything about AI chips knows groq's first gen chips aren't competitive but maybe their upcoming chips might have been able to threaten nvidia? @josephjacks_ : Ov...

Odd way to say “I was wrong”.
2025-12-26 View on X
The Information

Sources: Nvidia's licensing deal with Groq, which has raised ~$1.8B, includes payouts to Groq's key execs and investors, including BlackRock and Tiger Global

Nvidia stunned Silicon Valley on Wednesday by agreeing to pay about $20 billion to license technology from Groq …

2025-12-25
Odd way to say “I was wrong”.
2025-12-25 View on X
Bloomberg

Nvidia agrees to a licensing deal with Groq; CEO Jonathan Ross and other top executives will join Nvidia; Groq says it will continue operating independently

Nvidia Corp. agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected …

2025-12-13
At the @dealbook conference, @mtbarra discussed the onerous overhead of state-by-state EV laws. During his presidency, @BarackObama spoke of the burden caused by state-by-state licensing laws. AI is no different. The bureaucracy of 50 diff AI laws would be stifling to America.
2025-12-13 View on X
Axios

Policymakers behind key state AI bills scoff at Trump's EO; some GOP governors are pushing ahead with their own AI bills; Steve Bannon says Sacks misled Trump

States are forging ahead with AI laws despite President Trump's new executive order aimed at reining them in.

At the @dealbook conference, @mtbarra discussed the onerous overhead of state-by-state EV laws. During his presidency, @BarackObama spoke of the burden caused by state-by-state licensing laws. AI is no different. The bureaucracy of 50 diff AI laws would be stifling to America.
2025-12-13 View on X
Reuters

President Trump signs an executive order aimed at preempting a growing number of state AI laws, saying “we want to have one central source of approval”

Transformer Weekly: Trump signs EO, Hochul guts the RAISE Act, and GPT-5.2 launches Michael Kan / PCMag : Trump Signs Executive Order to Go After ‘Burdensome’ State AI Laws Poligir...

2025-12-12
At the @dealbook conference, @mtbarra discussed the onerous overhead of state-by-state EV laws. During his presidency, @BarackObama spoke of the burden caused by state-by-state licensing laws. AI is no different. The bureaucracy of 50 diff AI laws would be stifling to America.
2025-12-12 View on X
Reuters

President Trump signs an executive order aimed at preempting a growing number of state AI laws, saying “we want to have one central source of approval”

U.S. President Donald Trump on Thursday signed an executive order on artificial intelligence that will attempt to preempt …

2025-11-12
I'll say it again - boards that don't move could be sued in Delaware for staying - and exposing shareholders to uncapped securities claims.
2025-11-12 View on X
CNBC

Coinbase plans to move its incorporation from Delaware to Texas, saying Delaware “once provided companies with consistency” but now has “unpredictable outcomes”

Coinbase is following Tesla out of Delaware and into Texas.  —  Paul Grewal, Coinbase's chief legal officer …

2025-11-03
Masterful CEO run. World class.
2025-11-03 View on X
CNBC

MongoDB CEO Dev Ittycheria is stepping down after 11 years, replaced by Cloudflare President of Product & Engineering Chirantan Desai, effective November 10

Database software maker MongoDB said on Monday that CEO Dev Ittycheria is stepping down from the top job after an 11-year run.

2025-10-27
Very much worth reading. Well done.
2025-10-27 View on X
Sparkline Capital

The AI buildout, surpassing railroads and the internet, moves Big Tech from being asset-light to asset-heavy, which has historically produced inferior returns

Executive Summary  —  The AI revolution has reached a key inflection point, with the largest U.S. tech firms embarking on a massive AI infrastructure buildout.

2025-10-03
If you are interested in knowing in which industries AI is most successful in understanding (& which models), you should pay close attention to the APEX. More below.
2025-10-03 View on X
Mercor

Mercor launches the AI Productivity Index (APEX), which evaluates AI models' ability to perform “economically valuable knowledge work”; GPT-5 leads at 64.2%

still not production-ready Nikita Ostrovsky / Time : AI Is Learning to Do the Jobs of Doctors, Lawyers, and Consultants arXiv.org : The AI Productivity Index (APEX) Agnee Ghosh / B...

2025-09-30
US should be embarrassed we are a tech laggard to Brazil. PIX is what FedNow wants to be. India, China, UK and many other countries have had a system exactly like Pix for years and years. Study PIX. Way better than what we have in US. FPS in UK launched 17 years ago. Captured.
2025-09-30 View on X
New York Times

How Brazil's Pix digital payment system, adopted by 80%+ of citizens, became a target of the Trump administration, which says it unfairly undercuts US companies

Wired: Trump is punishing Brazil because their useful central bank payment system is squeezing out PayPal  —  www.nytimes.com/2025/09/29/w... Piyush Mittal / @piyushmittal : Brazil...

2025-09-29
Sad to say this isn't new. But as they said in Den of Thieves, “your bunny has a good nose.” [image]
2025-09-29 View on X
Fortune

VCs say some AI startups, under pressure to show rapid ARR growth, are using questionable accounting practices like counting one-time deals as recurring revenue

Allie Garfinkle / Fortune :

2025-09-22
Good thing for every state legislature to read before we pass 30 different state level AI laws. Sen. Moynihan said legislators should have same rule as doctors “first do no harm.” https://www.politico.eu/...
2025-09-22 View on X
Politico

The European Commission considers simplifying the 2009 rule that plastered the internet with cookie consent banners, as it seeks to reduce regulatory burdens

In a bid to slash red tape, the European Commission wants to eliminate one of its peskiest laws: a 2009 tech rule that plastered …