
@polymathqapital @blumeventures @ashokauniv do good. be good. perpetually living/breathing on the internet 🌐
Bengaluru, India
Joined March 2017
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Jeevesh Saxena retweeted
A financial firm doing biological research wasn't on my cards, but then we're in 2026!
Expect complete blurring of boundaries going forward.
Everything will unbundle - organizations, functions, roles, identity.
What is AI really capable of in bio?
To separate hype from reality, we spent 3 months working firsthand with @AnthropicAI's internal research model to see if it could create an experimental scorpion antivenom.
Introducing Citrini Therapeutics.
citriniresearch.com/p/citrin…
Jeevesh Saxena retweeted
Someone check if Peter Thiel is ok
The guy that owns the 140 characters app just launched a flying car
high time @bendingspoons acquires goodreads & does a makeover. i love the platform but also hate it, it can be so much better!
Jeevesh Saxena retweeted
Anybody using this kind of language needs to be firmly opposed and boycotted. They really want to turn this country into a banana republic with their vengeance.
Jeevesh Saxena retweeted
Every game is being decompiled
Every math problem is being solved
Everything is happening all at once
Think about the progress in the past year
Now imagine another year
And another year
Jeevesh Saxena retweeted
Free wisdom for those of you opining on my last tweet. It's easy to cast individuals away because you disagree with something they did or their opinions. When I turned 40, I turned a corner and decided to appreciate the good in someone for their act, for the moment and for what they did. My friends are my friends and I respect many people for their achievements in various fields, but I wouldn't have them work on stuff In other areas. An absolutist bar on each human is a recipe for failure. I expect things from people, but I don't expect them to be perfect. If their heart is in the right place, and their intent on the matter at hand is well placed, I respect the effort.
Jeevesh Saxena retweeted
some of the mental models and takeaways for me:
1. AI agents will massively benefit businesses that make money from transaction volume, rather than from time spent inside their apps. less navigation, less ads
2. the model for reservations (say restaurants) will completely change. from a first-come, first-serve basis to more context-aware reservations
(example: restaurant wants a certain type of high-value clients + someone celebrating a birthday values a specific restaurant, context from both demand and supply side will be used)
3. agents will cause an increase in net transactions with businesses as friction to transact reduces - such as proactively booking an uber or reordering a meal
4. the moat will be cross-context understanding of a user's life, not the capability. example your food preferences while traveling
5. users should understand what they want, not the tools/capability to get there. they share the intent and high-level objective, and the personal agent becomes a single interface they need to interact with
6. sharing key personal details like card number is a signal of trust and shoots retention up to 80%
7. business model is a cut on transactions. today, 50% of Instinct's transaction volume is from travel - that requires mini tasks across multiple websites with user context
My conversation with Noah Shinn (@noahrshinn), founder of Instinct.
Noah is building a personal AI assistant. It's still invite only, has spent nothing on marketing, and is growing roughly 10% A DAY.
This is his first long conversation about the company.
We discuss:
- Why Instinct doesn't have an app
- Buying compute months ahead of exponential demand
- How users learn to trust it with a credit card
- Safety and security
- Agents coordinating with other people's agents
- Instinct's business model
- Apps built on consumer inertia
- and more
Enjoy!
Timestamps:
0:00 Intro
4:11 What people are using AI agents for
15:07 Rethinking travel, reservations, and the internet
22:43 Trust, privacy, and personal data
27:50 The business model behind Instinct
38:04 How existing businesses will adapt
47:55 Designing a personal assistant people love
53:15 Growth, compute, and competing with Big Tech
1:11:44 What’s next for Instinct and personal AI
Jeevesh Saxena retweeted
Fascinating.
Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits.
The @BostonCollege Investment Committee (an LP and my beloved alma mater) asked for a few thoughts on what's happening in AI. I recorded a test run yesterday morning and then shared it with my partners, who encouraged me to share it more broadly... so here you go!
This is not a sales pitch, it's just a reflection on what we're seeing. And it wasn't intended to be shared, so please pardon the rough edges.
loom.com/share/c016702964a04…
Jeevesh Saxena retweeted
Today, Rivet @rivetdating launches across U.S. Backed by $10.5M Seed from @peakxvpartners, @shinecapital , @BlumeVentures, @elieseid. Rivet is a dating network built on Social Matching, our unique approach where real people help each other find love and connection.
Jeevesh Saxena retweeted
The World is Changing: AI For Creativity
By Jeffrey Katzenberg
A few months ago, I sat in my office in Silicon Valley and watched as a tech founder showed me something extraordinary. On the screen was a fully realized, beautifully lit, well-composed animated scene. It was stunning and it made me feel exactly what I felt in 1986 watching Luxo Jr. That was the first time I watched a computer-animated 3D character take a breath and seem, against all reason, to have life. It left me in awe.
Later that day, I received a text from an artist I've known for thirty years, 350 miles to the south, in the city where I spent most of my career. After seeing a similar video, she texted: "Is this the end of us?" My answer was, "Certainly not.”
I have spent the better part of the last decade in Silicon Valley, but the heart of my career has been in Hollywood. Being deeply connected to both worlds means I have deep loyalties to each and a responsibility to speak honestly to both.
In 2023, I said that these new AI tools would cut the time and cost of producing world-class animation by as much as ninety percent within three years. Some colleagues were alarmed, many were furious.
There is growing fear and resistance surrounding AI within the creative community. I deeply understand it, because I've spent countless hours walking through animation studios watching gifted artists bent over their desks, rebuilding a single second of film for the tenth time because the ninth version wasn't quite right. I've sat in screening rooms where four years of people's labor played out in minutes, and I knew the name of every person that had spent countless hours bringing those images to life. The creative process is a calling, there's really no other way to describe it. From the outside some see resistance. From the inside, it is love.
People do not fight this hard for things they don't care about. The pushback coming out of Hollywood represents the collective effort of people who are deeply passionate about their craft.
Is History Repeating Itself?
The history here is more complicated than either side may realize. In 1906, the most famous composer in America, John Philip Sousa, published an essay titled “The Menace of Mechanical Music." He warned that the phonograph would become "a substitute for human skill, intelligence and soul."
Sousa's fight was not really about the machine, it was about money. The machines were playing his compositions, and the men who built them weren't paying him a cent. His campaign helped create the Copyright Act of 1909. He did not stop the technology. He changed the terms under which it could use his work.
A hundred years ago, sound came to the movies. We remember it now as a miracle, and it was. What we forget is who paid for it. Before sound, tens of thousands of musicians made their living in the orchestra pits of movie houses, scoring every film live, every night, in towns all over the world. When the soundtrack arrived, the work of one composer and one orchestra was recorded for a film that went into thousands of theaters. The union fought back with everything it had, taking out newspaper ads across the country warning against the menace of "canned music," one of them showing a mechanical man tearing the strings out of a harp while an angel wept.
They were not fools, and they were not Luddites. They were right. Those pit jobs did not come back. And yet (this is the part we have to be brave enough to admit), sound gave us the movie musical, the modern score, sfx, sound design, audio engineering, and an art form vastly larger than the one it disrupted. And it helped keep Hollywood in the forefront of world entertainment for the rest of the century and into the next. The loss was real. And yet the art form expanded.
This is a story that has been told over and over again. To resist technology is to risk irrelevance. Just look at Kodak or Blockbuster. To embrace technology is to open doors of new possibility. Just consider Apple and Netflix.
What I Learned From Walt Disney
In the mid-1980s, I was tapped to lead Disney's animation division at a moment when the studio was at an inflection point. Animation wasn't just another business unit. It was the soul of the company, a medium revered because of Walt's genius and his passion. But the production system was cumbersome and unforgiving. A single movie was 125,000 individual hand-drawn and painted cels, photographed one frame at a time. Every revision carried a cost measured in months. These degrees of difficulty shaped the kinds of stories we could tell.
We found our way forward in an unexpected place: Walt himself. The Disney archives held astonishing recordings of Walt explaining his creative process. His own writings. His notes and storyboards. Work product captured at every stage of his process. This was truly a gift. Listening, reading, sitting with the work itself, we heard him talk about character, about emotion, about how an audience feels when a character truly comes alive. He talked about making bold choices and refining a scene until it genuinely moved people. We didn't hear a word about pencils or paintbrushes. In fact, Walt was famous for being a technologist, forever hunting for state-of-the-art tools, often inventing them himself to achieve the images he saw in his head. But he never defined animation by the tools. He defined it by whether the audience believed the character. His principles were timeless. The tools were not.
That realization changed everything. We co-developed the Computer Animation Production System (CAPS) with a young Northern California company called Pixar, replacing hand-painted cels with CGI. In The Little Mermaid, the final scene shimmered with a dimensionality and light that the old process simply couldn't achieve. In Beauty and the Beast, the ballroom sequence moved with a cinematic sweep that placed the audience inside the emotion of the moment. In Aladdin, the Cave of Wonders felt vast and alive, and the Magic Carpet became an intricate, compelling character all its own. In The Lion King, the stampede carried a scale and intensity that raised the emotional stakes beyond anything we'd done before. Technology didn't diminish the craft, it expanded the canvas. It gave artists more room to create.
A decade later, the canvas expanded again. When Disney released Pixar's Toy Story, it wasn't simply a technical milestone. It was proof that a fully computer-animated film could carry real emotional weight, that it could make audiences laugh, cry, and believe. At DreamWorks, we made the difficult decision to sunset hand-drawn animation and become a fully computer-animated studio. It was the right thing to do, but it was not without pain. It cost talented people their place in an industry where they had worked their whole lives. Some made the leap to the new tools and did the finest work of their careers. Some never did.
Tools are never the point. The instruments change with every generation. What endures is taste and imagination. The magical ability to make an audience feel. One of the greatest storytellers of our generation, George Lucas, succinctly captured the eternal essence of this issue: “It’s not the how, it’s the why.”
A Distinction With a Difference
I asked one of the leading AI models a question that has been challenging me for months. What is the difference between reasoning and creating? Its answer changed how I think about almost everything happening in this industry. It said . . .
Reasoning and creating are two distinct cognitive modes, though they also work together. Reasoning is fundamentally evaluative and analytical. It operates on what already exists: facts, premises, evidence. It moves toward a conclusion that was in a sense already implied by the input. Reasoning is constrained by logic and truth. Its goal is to arrive somewhere correct, not to invent somewhere new.
Creating is fundamentally generative. It produces something that didn't exist before. And crucially, there's no single right answer waiting to be found. A blank page has infinite valid responses. Creation involves choices that can't be fully justified by logic alone. Taste, intuition and vision fill the gap where deduction runs out.
Reasoning is what Silicon Valley has been perfecting. Creating is what Hollywood has been practicing for more than a century. AI today operates almost entirely on the reasoning side of the line. It can deduce, evaluate, optimize, and pattern-match brilliantly. And while it can create, there is a real distinction to being creative. What it doesn’t yet have is those things that make us human: empathy, devotion, serendipity, the kind of creativity that comes from a person trying to say something only they could say. When the bot generates a piece of art, it is not trying to communicate anything. It is statistics, not soul; it is emulating things that have been done. By contrast, human creativity isn’t about repeating patterns of zeros and ones; it is about doing something new.
One day, AI may close this gap. Three years ago, the leaders building AI would have called what they are achieving today, improbable, if not impossible. Impossible is no longer improbable.
Today, the line between reasoning and creating is real. Even the leading technologists acknowledge we are not there yet. There is no scientific path to crossing this divide that anyone in the field can articulate today. Understanding that gap is where we will find common ground.
A Path Forward
In 2016, I closed one chapter in Hollywood with the sale of DreamWorks and opened another in Northern California, co-founding WndrCo. We’ve backed more than 50 founders building the next generation of technology and watched how breakthroughs in Silicon Valley emerge, first as experiments, then as platforms, and finally as infrastructure that reshapes entire industries. It's worth remembering that the last great revolution in animation also came from the north. Pixar was a Northern California company, forged not in the conventions of the Hollywood studio system, but in the technological breakthroughs of Silicon Valley. I've spent years on both sides of this bridge. For sure, I don’t have all the answers (take Quibi, for one!). But, from my past and present vantage points of my long career, here is what I see . . .
Brilliant people in Northern California building this technology have made something extraordinary. They have earned the right for the rest of us to be, if not believers, at least optimistic that what comes next will be remarkable. But they have not made an artist. The tools are powerful, but they are not what makes a story matter. That knowledge lives 350 miles to the south, inside people whose life's work has informed the very models you are building. The right path forward includes them by design, with credit, with consent, and with compensation. Build this with the storytellers. Not on top of them. Taste is not something that can be synthesized, it is uniquely human.
At the same time, Hollywood needs to accept that AI is not going away. The energy they are spending trying to make it disappear is energy they are not spending deciding the terms on which it will exist. And the terms are everything. The north needs something from it that they cannot build and cannot buy: creativity. The kind that takes a blank page and conjures a single right answer where there was none and has held audiences for a century. Without it, the most powerful reasoning engine ever invented will still be missing the only thing that makes a story worth telling.
The artists who learn to wield these new instruments will do things the engineers never dreamed of. They always have. Edison invented the motion picture but made terrible movies. It took Chaplin, Lloyd, Keaton and so many others to make movies emotional. Now, the canvas is about to expand yet again. We should decide now that we intend to paint on it.
There are so many valuable lessons in history. This has happened many times before, and it was never settled by the technology. It was settled by the terms. Sousa did not stop the phonograph; he helped write the law that made sure composers got paid. And two years ago, when the writers and the actors walked out, they were fighting for the very things Sousa was fighting for in 1906. Consent, compensation, the basic recognition that human creative work has a price that must be paid. The terms of that fight are still being negotiated, but the principle is older than any of us.
The tools-versus-no-tools argument is a trap. First, we must all agree that there should be terms. Then we can have the crucial debate about what fairness requires.
What I Learned From Steve Jobs
Years ago, Steve Jobs said, "It's in Apple's DNA that technology alone is not enough. It's technology married with the liberal arts, married with the humanities, that yields us the result that makes our hearts sing." He was describing a device. But he could just as easily have been describing this tale of two cities.
What I See Coming Soon
As the barriers and the costs come down, more films will get made, not fewer. Studios will get to take more risks. There will be more seats at the table, and very soon entirely new forms of storytelling. In the 1980s, animation was dismissed as a niche corner of the business. Today it is one of the most beloved and profitable forms of storytelling in the world. In live action, filmmakers like Steven Spielberg, James Cameron and Peter Jackson embraced new visual tools not as shortcuts, but as instruments, and expanded cinema in the process. Every time storytelling has met a genuine technological shift, from synchronized sound to color to computer animation, it has redefined the boundaries of the medium and grown larger in the process.
Assuredly, I don’t have all the answers, but I am confident that the creative opportunities will expand yet again. How we come through this is a choice. The north has the new tools. The south has the creative soul. The best future will draw on the best of both worlds.
Jeevesh Saxena retweeted
Almost every founder has to survive some version of what Gabe describes here
Although Rogo has raised over $300M, 40 investors passed on their Series A (except @rabois)
Gabe on why every pass at that stage is a pass on the founder:
"I met with Sequoia, Kleiner, Benchmark, everybody, and 40 people passed.
And it wasn't just, you got the email with the deck and it's not exciting.
It was, 'Oh, this is interesting. Let me meet Gabe. Oh, I kinda like Gabe. Let me spend an hour with him. Oh, Gabe, come to IC. Oh, Gabe, let's go to dinner. Oh, Gabe, come in for the weekend.'
You know what? We're gonna pass.
And it's so personal, because at that stage it has nothing to do with anything but you.
Keith Rabois came a month after everyone else had rejected us, and Keith was like, 'Gabe, this isn't a contrarian bet. It's basically just Harvey for finance. Why would I do it?'
And I said, 'Keith, if it's not contrarian, why did every single one of your friends just say it was a bad idea and not believe in me?'"
My conversation with Gabe Stengel (@GabeStengel), founder and CEO of Rogo.
For years, Gabe and I have talked about how much of an investor's job AI will eventually do and how he is building Rogo toward that future.
Today, Rogo helps some of the world's largest financial institutions research companies, run diligence and execute M&A.
But Gabe's ambition is much bigger. He is building toward investing superintelligence, where Rogo does much of the work inside investment banks and firms and becomes the venue where they do their deals.
It's a fascinating business and has been so fun watching Gabe build it.
We discuss:
- 10,000 agents searching for one great investment idea
- Which investing skills will still matter
- Why Anthropic/OpenAI won't win finance
- "Chewing glass"
- Why the harness around the models matters so much
- Getting rejected by 40+ investors
- Building an AI native Bloomberg
- Becoming a black hole for talent
Enjoy!
TIMESTAMPS:
0:00 Intro
2:38 Building Rogo
6:12 10,000 AI Agents
12:02 Skills That Still Matter
17:31 Beating OpenAI and Anthropic
28:35 Bloomberg of the AI Era
37:37 Rogo’s Company Brain
44:19 Chewing Glass
53:34 AI-Native Finance
59:21 What Humans Still Do Better
Jeevesh Saxena retweeted
This will be a bigger battle than anyone anticipates. It is only a matter of time before there is an Apple and Google version of Muse and possibly TikTok, in addition to the frontier LLM agents. Maybe a commerce agent from Amazon.
Every app that is a services, marketplace or commerce app will need to existentially decide to open APIs for consumer agents to interact. Smaller players have no choice. Ad revenues are more than transaction fees, either the consumer benefits or distribution aggregators will demand a higher transaction fare.
I know I don't want an agent for each app. I would like my agent to be able to do tasks I require. We can already see consumers getting trained on that behavior by the frontier labs.
Those with network moats - restaurants, groceries, drivers might be able to withstand for a while, over time convenience and end user experience will win and they will have to align. Content moats (protected by copyright) could decide to allow agents or chose to hold on to the consumer interaction. I suspect other than the feeling of a lack of control, it won't change their economics.
Commoditized back ends will need to worry, insurance, tickets, hotels, services - if they don't adapt new players will.
Jeevesh Saxena retweeted
Until now, we have gone to where the socket is.
QUINT brings the socket to you.
Charge survey drones and field robots. Run an off-site office. Power tools where there's no supply. Or pull an espresso shot in your car's boot - which is what we did here.
2 kW output · 60% cheaper per unit than diesel · solar-chargeable · Building in Assam, India.
Where would you use one?
Jeevesh Saxena retweeted
POV: Founders Fund is about to send you a term sheet but first they have to decide what your company is going to be called
Peter Thiel on why the name of your startup is predictive of success or failure
“This is a slight aesthetic thing that I believe in very strongly: the names of companies are often very predictive of future failure or success.”
PayPal and Napster are the first example Thiel gives:
“PayPal was a very friendly name — it was the friend that helps you pay. Napster was a bad name — you nap some music, you nap a kid. That sounds like a bad thing to be doing, and it’s no wonder the government then comes in and shuts the company down within a few years.”
“You want to be very careful of how you name companies,” Thiel warns founders. In the context of the sharing economy, he likes Airbnb more than Uber:
“Airbnb sounds very innocent like this virtual bread and breakfast — this very light, non-threatening sort of company. Uber sounds like a bad name from Germany sometime in the 1930s. What are you exactly above? Maybe the law? This is probably something that, again from a regulatory perspective, I think Airbnb is a vastly better name than Uber.”
And on the social networking side, Thiel likes Facebook more than MySpace:
“You can say that all these social networks involve both reading and writing… Over time, reading dominates writing. Facebook was about learning about people around you — about their real identities at Harvard. MySpace started among wannabe actors in Los Angeles, and it was about them coming up with fictional narratives around themselves and a lot of other people in LA who are generally like that. And because reading dominates writing, Facebook would ultimately dominate MySpace. There’s a certain version where the whole arc of the company and the whole product arc was implicit in the names.”
Source: @mercatus (Apr 2015)
The facts are clear and yet the incentives are to pile into the “best” companies which merely means the hottest companies (according to popular sentiment). This is not new due to modern VC industry becoming large. It’s always been the case most great founders don’t need VCs or much outside money. In the old days, Compaq was one of the best VC deals with the “best” VCs investing $100M. In the meantime Michael Dell started his little business with $1K, zero VC funding ever, and he’s still going strong while Compaq disappeared decades ago (after peaking to be one of the best VC deals of the era).
Previously (see quoted post), we looked at how pre-IPO scale effects the future success of venture-backed companies.
Quick recap:
Raising more private capital, and generating more revenue, are both correlated with WORSE outcomes for companies after going public.
This is likely because opaque private markets favour raw scale over a complex picture of health, so companies grow in a fragile, one-dimensional manner.
A few people asked what this means more specifically for VC returns.
The question itself is interesting, because it separates VC returns from the long-term success of the companies they back. A sign of the times.
But, it's a fair consideration — a VCs fiduciary duty is to their LPs, not to founders.
Of the original sample of 143 recent IPOs, there are 83 with available details about the first priced round and the last round prior to going public.
The first and last rounds are examined independently to determine whether early investors benefit disproportionately from larger exits, versus the relatively poor blended return.
For the sake of this analysis, we're looking at share price 6 months after IPO, the usual time when insiders can sell (including LPs that took shares as distributions in kind).
Splitting these IPOs into buckets by capital raised, there is a clear negative correlation for the quality of returns from the last round.
- For companies that raise less than $150M, the last round returns just less than 3x.
- For companies that raise more than $1.5B, the last round returns just less than 1x.
The first priced round typically does well, although the two best categories raised either the most or the least. There's not as clear a correlation here.
- For companies that raised less than <$150M, the first round returns 149x.
- For companies that raised more than $1.5B, the first round returns 209x.
Jeevesh Saxena retweeted
You can now play this for real with anyhumanever.com/. I just died of smallpox aged 7 in 1889.
People generally have no idea how much the past sucked. It's fun to study history but anyone who genuinely romanticizes the past I struggle to take seriously.
Even the recent past was miserable by comparison with today, but the pre-industrial era was a total horror show on every axis continually.
Reply here with your hypothetical pre-modern name, location, and year of birth and I'll give a quick summary of how your life went.
I'll start with a historical character, my 5th great grandfather John Jones, born ~1812 in northern Wales. Illiterate. Orphaned. Laborer. Married at age 33 (already ahead of 75% of other men in that era), 12 children, all but 2 died in childhood, moved (voluntarily) to Australia in 1849, financially ruined at least twice, alcoholic, wife died suddenly aged ~45, unable to care for surviving children, who variously ran away, ended up in some hellish convict era Australian orphanage, drowned, etc. Disappeared in custody c. 1860.




























