The Revolution in Services: General Catalyst's AI Rollup Strategy, with Marc Bhargava
Marc Bhargava from General Catalyst discusses their Creation Strategy for building AI-enabled roll-ups – companies that start as vertical software startups, then grow by acquiring traditional service businesses and transforming them through AI automation. They explore how systematic analysis of 70 service categories identified 10 verticals where 30-70% of tasks are automatable today, potentially transforming low-margin service businesses into software-like companies with 30-40% margins. The conversation covers the practical implementation of AI in industries like accounting, legal services, and call centers, where teams shadow workers to identify automatable tasks and layer AI into existing processes. While both see tremendous potential in bringing AI transformation to Main Street businesses, they debate whether the transition will be as smooth as projected or more disruptive to employment than anticipated.
See Business Transformation with Applied AI for more details.
Sponsors:
Labelbox:
Labelbox pairs automation, expert judgment, and reinforcement learning to deliver high-quality training data for cutting-edge AI. Put its data factory to work for you, visit https://labelbox.com
Oracle Cloud Infrastructure:
Oracle Cloud Infrastructure (OCI) is the next-generation cloud that delivers better performance, faster speeds, and significantly lower costs, including up to 50% less for compute, 70% for storage, and 80% for networking. Run any workload, from infrastructure to AI, in a high-availability environment and try OCI for free with zero commitment at https://oracle.com/cognitive
Shopify:
Shopify powers millions of businesses worldwide, handling 10% of U.S. e-commerce. With hundreds of templates, AI tools for product descriptions, and seamless marketing campaign creation, it's like having a design studio and marketing team in one. Start your $1/month trial today at https://shopify.com/cognitive
NetSuite by Oracle:
NetSuite by Oracle is the AI-powered business management suite trusted by over 42,000 businesses, offering a unified platform for accounting, financial management, inventory, and HR. Gain total visibility and control to make quick decisions and automate everyday tasks—download the free ebook, Navigating Global Trade: Three Insights for Leaders, at https://netsuite.com/cognitive
PRODUCED BY:
https://aipodcast.ing
CHAPTERS:
(00:00) About the Episode
(04:50) Introduction and Investment Thesis
(13:04) Software Substituting Labor (Part 1)
(20:00) Sponsors: Labelbox | Oracle Cloud Infrastructure
(22:37) Software Substituting Labor (Part 2)
(26:40) Company Development Playbook (Part 1)
(35:59) Sponsors: Shopify | NetSuite by Oracle
(39:19) Company Development Playbook (Part 2)
(41:19) Customer Partnership Strategy
(51:57) Technical Implementation Approach
(01:00:15) Market Consolidation Dynamics
(01:07:57) Automation Limitations Analysis
(01:19:25) Big Tech Competition
(01:22:40) Public Strategy and Vision
(01:25:56) Outro
Institutional appetite for on-chain activity is heating up, says Coinbase's VP
Kevin Johnson is Coinbase's VP of Institutional Sales and Trading.
In this episode, Johnson shares the details behind Coinbase Prime's new web3 wallet designed to give institutional and enterprise clients secure and direct access to web3, DeFi, and various onchain operations.
As Johnson explains, "It was always in our plans to take the great centralized tools that we had built with those multi user capabilities and eventually bring those on on chain for clients."
The new non-custodial wallet offers features such as storing any tokens, DEX aggregation, intuitive risk controls and customizable workflows — all integrated with Coinbase Prime's battle-tested security measures.
The State of Institutional Money & Crypto with Tagomi Co-Founder Marc Bhargava & COO Kevin Johnson
When Tagomi came out of stealth mode in 2018, the need for a crypto prime broker was a commonplace talking point in the digital asset world. An independent broker, sitting in between the spine-tingling market and investors, would help lure larger asset managers to bitcoin, pundits said. Indeed, two years later even Tagomi has been disappointed by the lack of asset managers in the market and their focus on best execution, although important, is no longer core. Still, even though the firm's conception of a crypto prime broker has changed, it sees other opportunities on the horizon.
In this episode of The Scoop we explore:
How the firm has adapted when the institutional wave of asset managers fell apart
How the notion of a crypto prime broker has changed since the company's founding
How Tagomi can serve traditional technology companies entering the market, such as Facebook Libra and Robinhood
Examine the on-boarding process for large institutional investors
Why the firm does not want to service retail clientele
Why the firm is bullish on Libra
How Tagomi Makes Large Crypto Trades Cheaper and More Efficient - Ep.118
Jennifer Campbell and Kevin Johnson, cofounder and COO, respectively, of Tagomi, describe how Tagomi helps institutional players make larger crypto trades more efficiently and at the best price possible, plus analyze how that was executed. They contrast it with the pre-Tagomi process for doing large crypto trades, how their software, which functions as a sort of "Kayak.com" for crypto trading, works on the backend, and how they keep funds held on exchanges secure. Plus, we compare today's crypto trading infrastructure to the early days of electronic trading in traditional financial markets, and look down the road at how they'll accommodate trends such as staking and decentralized exchanges.
For more, check out the full show notes on Forbes.com: http://www.forbes.com/sites/laurashin/2019/05/07/how-to-make-large-crypto-trades-without-moving-the-market/
Thank you to our sponsors!
ConsenSys/Ethereal: Head to Etherealsummit.com with my discount code LAURA20 to get 20% off tickets to Ethereal Summit New York, May 10th to 11th at Pioneer Works in Brooklyn.
CoinDesk/Consensus: Since 2015, Consensus has been recognized as the most influential blockchain and digital assets event of the year. Hot-button topics such as adoption challenges, privacy,blockchain innovation, capital formation and more take centerstage as experts and pioneers give voice to the new developments and innovations occurring around the globe. Don’t miss this three-day experience! Register today: www.consensus2019.com. Use promo UNCHAINED300 to save $300 on your pass.
CipherTrace: https://ciphertrace.com/unchained
Episode links:
Tagomi: https://tagomi.com
Twitter: https://twitter.com/tagomisystems
Forbes article on Tagomi: https://www.forbes.com/sites/jeffkauflin/2019/02/15/crypto-finance-grows-up-tagomis-new-tools-could-draw-institutions-into-the-crypto-market/#6c9bf98c13a0
Bloomberg video featuring Jennifer and Greg: https://www.bloomberg.com/news/videos/2019-03-04/meet-tagomi-the-end-to-end-crypto-solution-video
Bloomberg article on comparisons to early days of electronic trading in equities: https://www.bloomberg.com/news/articles/2018-12-17/former-goldman-electronic-trading-head-sees-parallels-in-crypto
WSJ Article on Tagomi: https://www.wsj.com/articles/peter-thiel-backed-venture-to-help-big-investors-bet-on-bitcoin-1525176121
Tagomi receiving BitLicense: http://fortune.com/2019/03/27/bitcoin-peter-thiel-tagomi-bitlicense/
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