Dec 26, 2023·edited Dec 26, 2023

Came back to this twice so far... great post.

Also thinking about this quote from Brad Gerstner on who won search...

The truth of the matter is, all those companies, you got all of that right, and all of those companies still went to zero. And you could have waited until 2004 and bought the Google IPO and captured 95% of all the profits ever generated by Internet search, okay? Now, that's one of the reasons I like to do both venture and public markets, because I did buy the Google IPO, right? I was like, man, this is way easier than that venture stuff. Just ride this pony for the next decade, which we did.

So trying to sort through that and say, okay, if that's true, what is going to have durable value capture? Am I getting head faked? Is this Alta Vista? Is this Lycos? Is this AskJeeves? Or is this Google? Right? And why did Google ultimately capture all the value?

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Well put Dez!

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