Leverage

Their wordsyou can have one very senior PM across more things and they can be more efficient than having, you know, three relatively entry-level PMs.

Their wordsAnd now I actually think with the power of agents um and AI broadly speaking, it's much closer to Goliath versus Goliath. Like I think but maybe the startup is like a Mecca Goliath that is like vastly enhanced by the power of agents and AI and you know, the the large companies are the sort of like more traditional Goliath, so to speak. But I think that startups now like if you properly embrace AI agents and um figure out the way to leverage their strengths in the most like ambitious ways, you can easily outcompete incumbents.

Their wordsAnd the plan doc, what was bad about it is it didn't give you leverage. The plan was every single line of code that was going to change like in diff blocks and like all the new stuff to write. And so like people would review these plans. We recommended this. We told people to read the plans. We read all our plans. And then eventually I found myself like I just kind of skimmed the plans.

Their wordsAnd and the thing about financial services, leverage kills you. Aggressive accounting can kill you, which a lot of companies do do.

Their wordsDebt is neither a good thing nor a bad thing per se. Likewise, the use of leverage in the AI industry shouldn’t be applauded or feared.