2026-02-17
The best post I've read on software moats in the AI era
@nicbstme
How LLMs are dismantling the moats that made vertical SaaS defensible, and why the market selloff is structurally justified but temporally exaggerated
In the past few weeks, nearly $1 trillion was wiped from software and services stocks. FactSet dropped from a $20B peak to under $8B.
2026-02-01
Gokul's best career advice: stay long enough to have an impact. “I've been seeing people who stay at a job for 12 to 18 months and then they move to the next job and then the next job. That is one of the biggest red flags as a hiring manager because you can't achieve anything [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
“The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
.@gokulr is one of the most prolific product builders and investors of the last 20 years. He helped build the core ads and product businesses at Google, Facebook, Square, and DoorDash, working directly with many of this generation's best founders and CEOs. He's also invested in [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul explains why outcome-based software companies like Zendesk are more exposed to AI than systems of record like NetSuite, and why public markets are not distinguishing between the two. He argues that the only way AI-native startups can disrupt systems of record is by [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
The three ways AI, particularly long-horizon agents, are changing the role of PMs: “First, product development is changing because the models and the capabilities are growing so fast that if you try to be very strict and stringent about describing exactly what you're going to [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul explains the only three ways ads businesses make money, and why ChatGPT may be more valuable than Google and Facebook: “One, you need to own a very coveted group of users and you need to have a surface on which those users interact. Google Search is a great example. It's [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
2026-01-31
The three ways AI, particularly long-horizon agents, are changing the role of PMs: “First, product development is changing because the models and the capabilities are growing so fast that if you try to be very strict and stringent about describing exactly what you're going to [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
Gokul explains the only three ways ads businesses make money, and why ChatGPT may be more valuable than Google and Facebook: “One, you need to own a very coveted group of users and you need to have a surface on which those users interact. Google Search is a great example. It's [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
Gokul's best career advice: stay long enough to have an impact. “I've been seeing people who stay at a job for 12 to 18 months and then they move to the next job and then the next job. That is one of the biggest red flags as a hiring manager because you can't achieve anything [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
“The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
.@gokulr is one of the most prolific product builders and investors of the last 20 years. He helped build the core ads and product businesses at Google, Facebook, Square, and DoorDash, working directly with many of this generation's best founders and CEOs. He's also invested in [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
Gokul explains why outcome-based software companies like Zendesk are more exposed to AI than systems of record like NetSuite, and why public markets are not distinguishing between the two. He argues that the only way AI-native startups can disrupt systems of record is by [video]
Invest Like The Best on YouTube
Q&A with Gokul Rajaram, investor and a former product leader at Google, Meta, and others, on AI changing product development, building ad businesses, and more
Gokul Rajaram joins Patrick to discuss the seismic shift in product building driven by AI. As a legendary operator (Google, Facebook, Square, DoorDash) and p...
2025-12-11
“The most important thing in the next 3-4 years is data centers in space. In every way, data centers in space, from a first principles perspective, are superior to data centers on earth. In space, you can keep a satellite in the sun 24 hours a day. The sun is 30% more intense, [video]
Invest Like The Best on YouTube
Q&A with investor Gavin Baker of Atreides Management on the economics of AI, data centers in space, mistakes SaaS companies are making in adopting AI, and more
In this episode of Invest Like The Best, Patrick O'Shaughnessy sits down with investor Gavin Baker to explore the rapidly evolving AI landscape.
Gavin on why it's a mistake for SaaS companies to resist AI because it has a lower margin structure: “When there's a transformative new technology customers are demanding, it's always a mistake not to embrace it. If you're trying to preserve an 80% gross-margin structure, you [video]
Invest Like The Best on YouTube
Q&A with investor Gavin Baker of Atreides Management on the economics of AI, data centers in space, mistakes SaaS companies are making in adopting AI, and more
In this episode of Invest Like The Best, Patrick O'Shaughnessy sits down with investor Gavin Baker to explore the rapidly evolving AI landscape.
This is my fifth conversation with @GavinSBaker. Gavin understands semiconductors and AI as well as anyone I know and has a gift for making sense of the industry's complexity and nuance. We discuss: - Nvidia vs Google (GPUs + TPUs) - Scaling laws and reasoning models - The [video]
Invest Like The Best on YouTube
Q&A with investor Gavin Baker of Atreides Management on the economics of AI, data centers in space, mistakes SaaS companies are making in adopting AI, and more
In this episode of Invest Like The Best, Patrick O'Shaughnessy sits down with investor Gavin Baker to explore the rapidly evolving AI landscape.
Gavin explains that the bear case for AI capex spend is on-device inference: “In three years, on a bigger phone, you'll be able to run a pruned-down version of Gemini 5, Grok 4, or ChatGPT. And that's free. This is clearly Apple's strategy - we're going to make it privacy-safe [video]
Invest Like The Best on YouTube
Q&A with investor Gavin Baker of Atreides Management on the economics of AI, data centers in space, mistakes SaaS companies are making in adopting AI, and more
In this episode of Invest Like The Best, Patrick O'Shaughnessy sits down with investor Gavin Baker to explore the rapidly evolving AI landscape.
Gavin on how Blackwell and GB300 will end Google's position as the lowest-cost producer of tokens: “I think it's important that Google has been the lowest cost producer of tokens. And this is really important because AI is the first time in my career as a tech investor that [video]
Invest Like The Best on YouTube
Q&A with investor Gavin Baker of Atreides Management on the economics of AI, data centers in space, mistakes SaaS companies are making in adopting AI, and more
In this episode of Invest Like The Best, Patrick O'Shaughnessy sits down with investor Gavin Baker to explore the rapidly evolving AI landscape.
2025-12-09
My favorite of the year end summaries on AI “Between 1 and 7% of all work hours are currently assisted by generative AI” reminds me of the other major technology penetration curves. It's not where we are on the curve, or how long it'll take, it's that we are on one
LessWrong
An overview of AI in 2025, including arguments for and against above-trend model capabilities growth, the state of evals, and the safety of reasoning models
Gavin Leech / LessWrong : X: @g_leech_ , @g_leech_ , and @patrick_oshag X: Gavin Leech / @g_leech_ : My summary of the year in AI [image] Gavin Leech / @g_leech_ : ADeLe really is...
2025-11-09
I've always wanted to publish these Company Dispatches — reports from someone inside one of the most important new companies. We have several more planned as a new Colossus format. You'll learn a ton from this first one, on Cursor.
Colossus
An account of working at Cursor for 60 days: a largely in-person culture, few scheduled meetings, aggressive recruiting, heavy internal product testing, more
On recruiting and culture — Nivi: You're listening to the Naval Podcast. X: Jim O'Shaughnessy / @jposhaughnessy : “When I asked co-founder Sualeh Asif what he's most concerned ab...