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Working with Guillermo Rauch, the founder and CEO of Vercel, has been an incredible experience. Vercel is a tremendous company with a bright future in front of it, but back in early 2023, shortly after the launch of ChatGPT, Guillermo came to the Vercel board and announced that the company was going to burn substantially more capital in 23 than previously planned because he wanted to move from being the front-end cloud to being the AI cloud over the coming 12 months. Guillermo conceived of and l
And we just talked about Airtable, Airtable would be a great example. At some point, somebody wrote a check at, you know, 10 or 12 billion and every, you know, and the round before that was done at probably 5 billion was like, I, I did my job. I've got a double in a short period of time. And this company's going places. It's a big up round, you know, unfortunately years later, it turns out like that was a that was, that was not a great job. And that's a perfect example of where this disconnect c
And if I look across our companies that are driving the returns, whether it's Anthropic or FAL, Vercel, Quintz, Databricks, you know, these are the types of companies that can drive great outcomes.
I think, uh, I mentioned Vercel, Guillermo Rauch, founder of Vercel, I think would be fantastic to talk to. He's a great interview. He, uh, has been in the software business a long time and, um, up with just about anybody else I've met, I can only think of one other founder with whom I've worked who has as much his finger on the pulse of what developers really need, want, and will use in the future.
Vercel is a business that is very clearly in the token path. They're, uh, very scaled. They are developer focused company. They've positioned themselves squarely in the AI market. They have two or three of the most, uh, popular AI products, uh, on the planet for developers. And they, uh, power some of the most important AI companies on the Vercel platform today. Their business has accelerated dramatically over the past six months, even at scale. And for them, you know, I think they have all the
Whether it's Anthropic or FAL, Vercel, Quintz, Databricks, you know, these are the types of companies that can drive great outcomes. And we fortunately own enough that we can earn a big multiple on $650 million.
I think the frontier labs, you know, their, their challenge will be to help people understand what their businesses really do and how to think about them and how to measure them over time since we haven't seen anything like this in the past, at least public investors haven't. Um, but I think if they do that well, and knowing Krishna as CEO and the team he's putting together, I have a lot of confidence in them. Um, you know, they should, they should do well. Uh, it may take some time, but again,