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q42018

a16z

Why are people so fired up about a computer winning yet another game? Whether it's checkers, chess, Jeopardy, or the ancient Chinese game of Go, we get excited about the potential for more when we see computers beat humans. But then nothing "big" -- in terms of generalized artificial intelligence -- seems to happen after that burst of excitement.

Now, with the excitement (and other emotions) around Google DeepMind's "AlphaGo" using machine learning and other techniques to beat one of the world's top Go players, Lee Sodol, in Korea ... it's like the dream of the 1990s (and 1980s, and 1970s, and 1960s) is alive in Seoul right now. Is this time different? How do we know?

a16z's head of research and deal team Frank Chen and board partner Steven Sinofsky -- who both suffered through the last “AI winter” -- share how everything old is new again; the triumph of data over algorithms; and the evergreen battle between purist vs. "practical" approaches. Ultimately, it's about how innovation in general plays out, at a scale both grand (cycles and gestation periods) and mundane (sometimes, the only way to make a product work is to hack together the old, the new, and everything in between).

NOTE: The Super Mario World video referenced in this podcast is at https://www.youtube.com/watch?v=qv6UVOQ0F44

a16z Podcast: The Dream of AI Is Alive in Go

The period from 2000-2016 was one of the best of times and worst of times for tech and the Valley (dotcom, financial crisis, Google IPO, Facebook founded, unprecedented growth, and so on), and John Hennessy -- current chairman of Alphabet, also on the boards of Cisco and other organizations -- was the president of Stanford University during that entire time. Given this vantage point, what are his views on Silicon Valley (will there ever be another one, and if so where?); the "Stanford model" (for transferring IP, and talent, into the world); and of course, on education (and especially access)?

Hennessy also co-founded startups, including one based on pioneering microprocessor architecture used in 99% of devices today (for which he and his collaborator won the prestigious Turing Award)... so what did it take to go from research/idea to industry/implementation? General partners Marc Andreessen and Martin Casado, who also founded startups while inside universities (Netscape, Nicira) and led them to successful exits (IPO, acquisition by VMWare), also join this episode of the a16z podcast with Sonal Chokshi to share their perspectives.

But beyond those instances, how has the overall relationship and "divide" between academia and industry shifted, especially as the tech industry itself has changed... and perhaps talent has, too? Finally, in his new book, Leading Matters, Hennessy shares some of the leadership principles he's learned -- and instilling through the Knight-Hennessy Scholars Program -- offering nuanced takes on topics like humility (needs ambition), empathy (without contravening fairness and reason), and others. What does it take to build not just tech, but a successful organization?

image credit: Jitze Couperus / Flickr

a16z Podcast: From Research to Startup, There and Back Again

with Stephanie Cohen and Martin Casado (@martin_casado) 

As chief strategy officer of Goldman Sachs (and former global head of financial sponsors M&A), Stephanie Cohen has seen it all when it comes to the ins and outs of M&A. And what it means to innovate from within, especially at a large company.

Given Cohen's unique vantage point and nearly 20-year tenure at Goldman Sachs, Casado -- himself a veteran of both an acquisition (Nicira) and big company innovation (VMware) -- interviews Cohen in this episode of the a16z Podcast, on the ways that big companies navigate innovation... both inside and outside. How do they make the decision to build vs. buy? How does one diversify perspectives? And so on. 

This episode is based on a fireside chat that originally took place at our annual a16z Summit event in November 2018.

a16z Podcast: M&A and Innovation, Inside Out

The Hidden Power Of The Venezuelan Diaspora

Episode 16. Stephen Baker and RJ Scaringe, CEO of Rivian, an electric car startup, sat down at LA CoMotion to discuss how the consumption model for cars will evolve over the next decades. RJ calls Rivian the “Patagonia” of electric cars - a comfortable vehicle encouraging  customers to go out and explore the world. The car’s smart battery can learn from its user and adjust to his preferred charging mode in real-time. RJ Scaringe believes that as we move away from an exclusive consumption ownership model for cars, we will adopt more use-case specific modes of consumption.

The "Patagonia" of Electric Cars - Stephen Baker chats with RJ Scaringe, CEO of Rivian

with Brian Armstrong (@brian_armstrong), Chris Dixon (@cdixon), and Sonal Chokshi (@smc90)

Where are we, really, right now -- in terms of what we can/ can't do with crypto today? And what will it take to get from vision to mainstream reality? This episode of the a16z Podcast covers all this and more. It's based on a conversation that took place between Coinbase CEO and cofounder Brian Armstrong and a16z crypto general partner Chris Dixon, interviewed by a16z editor in chief Sonal Chokshi, at our at our annual Summit in November 2018 -- following a series of presentations that covered everything from early adoption, myths, and the global need for crypto; to crypto as seen through the lens of trust; to key terms and concepts that enable entirely new use cases on top of crypto.

But what are the missing pieces needed to get us there? Is crypto is too much like a religion... and if so, how does one build a company, culture, community in such an intense environment? Where does the history of open source come in? And finally, what are some of the most interesting applications and trends in the space?

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Please note that the a16z crypto fund is a separate legal entity managed by CNK Capital Management, L.L.C. (“CNK”), a registered investor advisor with the Securities and Exchange Commission. a16z crypto is legally independent and operationally separate from the Andreessen Horowitz family of fund and AH Capital Management, L.L.C. (“AHCM”).

In any case, the content provided here is for informational purposes only, and does NOT constitute an offer or solicitation to purchase any investment solution or a recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on a16zcrypto.com should be relied on in any manner as advice. You should consult your own advisers as to legal, business, tax and other related matters concerning any investment.

Furthermore, the content is not directed to any investor or potential investor, and may not be used or relied upon in evaluating the merits of any investment and must not be taken as a basis for any investment decision. No investment in any fund advised by CNK or AHCM may be made prior to receipt of definitive offering documentation and due diligence materials. Finally, views expressed are those of the individual a16z crypto personnel quoted therein and are not the views of CNK, AHCM, or their respective affiliates.

Please see https://a16zcrypto.com/disclosures/ for further information.

a16z Podcast: Building Crypto, from Vision to Reality

with Andy Milenius (@realzandy), Jesse Walden (@jessewldn), and Sonal Chokshi (@smc90)

The history, evolution, and use of money revolves around the important concept of debt: It’s what allows us to “time travel” and build toward the future — growing livelihoods, businesses, and the overall economy as a result. When it comes to crypto, however, this concept plays a key role as a way to potentially stabilize the volatility of cryptocurrencies, and more importantly, provide a more stable medium of exchange so key applications can be built on top of blockchains.

That’s where stablecoins (cryptocurrencies pegged to a more stable asset, such as fiat dollars) come in. Because they’re deployed on top of blockchains, they retain the advantages of cryptocurrencies — digital, global, easily transferable, decentralized. And because open source networks are more transparent and auditable, these systems are far less opaque than, say, the huge house of cards that collapsed in the case of the 2008 financial crisis.

But beyond bringing more people into a better financial system, why do stablecoins like Dai — and Maker, one of the oldest decentralized autonomous organizations (DAOs) on the Ethereum blockchain — matter to the crypto developer community? To banks? To anyone who thinks about the future of innovation… or even the future of the firm, and the future of work? How do (and don’t) DAOs and these kinds of smart contracts change everything we know about management and software development? 

This episode of the a16z Podcast explores the answers to these questions and more, with Maker CTO Andy Milenius in conversation with Sonal Chokshi and a16z crypto partner Jesse Walden. Here are just two quotes from our jam session: Blockchains are an "open-access, permissionless, choose-your-own adventure story"; and smart contracts are an mp3-like "compression format" for scaling trust. Let the music begin!

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Please note that the a16z crypto fund is a separate legal entity managed by CNK Capital Management, L.L.C. (“CNK”), a registered investor advisor with the Securities and Exchange Commission. a16z crypto is legally independent and operationally separate from the Andreessen Horowitz family of fund and AH Capital Management, L.L.C. (“AHCM”).

In any case, the content provided here is for informational purposes only, and does NOT constitute an offer or solicitation to purchase any investment solution or a recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on a16zcrypto.com should be relied on in any manner as advice. You should consult your own advisers as to legal, business, tax and other related matters concerning any investment.

Furthermore, the content is not directed to any investor or potential investor, and may not be used or relied upon in evaluating the merits of any investment and must not be taken as a basis for any investment decision. No investment in any fund advised by CNK or AHCM may be made prior to receipt of definitive offering documentation and due diligence materials. Finally, views expressed are those of the individual a16z crypto personnel quoted therein and are not the views of CNK, AHCM, or their respective affiliates.

a16z Podcast: All About Stablecoins

In his book (and podcast), Brian McCullough chronicles the history and evolution of the internet -- from college kids in a basement and the dot-com boom, to the applications built on top of it and the entrepreneurs behind them.

General partner Chris Dixon chats with McCullough about How the Internet Happened -- and more broadly, about how tech adoption and innovation happens.

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The content provided here is for informational purposes only, and does not constitute an offer or solicitation to purchase any investment solution or a recommendation to buy or sell a security; nor it is to be taken as legal, business, investment, or tax advice. In fact, none of the information in this or other content on a16zcrypto.com should be relied on in any manner as advice. Please see https://a16zcrypto.com/disclosures/ for further information.

a16z Podcast: How the Internet Happened

with Marc Andreessen (@pmarca), Ben Horowitz (@bhorowitz), and Tyler Cowen (@tylercowen)

This episode of the a16z Podcast features the rare combination of a16z co-founders Marc Andreessen and Ben Horowitz in conversation, together, with economist Tyler Cowen (chair of economics at George Mason University and chairman and general director of the Mercatus Center there, and host of his own podcast.) The conversation originally took place at our most recent annual innovation Summit -- which features a16z speakers and invited experts from various organizations discussing innovation at companies large and small, as well as tech trends spanning bio, consumer, crypto, fintech, and more.

This discussion covers Ben and Marc's marriage, er, partnership; the evolution of VC and "talent as a network"; and where are we right now on industries being affected by tech (such as retail) and tech trends (such as VR/AR and wearables) -- and where are we going next? Finally, is software eating culture... or is it the other way around?

a16z Podcast: Talent, Tech Trends, and Culture -- with Ben, Marc, and Tyler Cowen

The a16z Podcast discusses tech and culture trends, news, and the future -- especially as ‘software eats the world’. It features industry experts, business leaders, and other interesting thinkers and voices from around the world. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon Valley-based venture capital firm. Multiple episodes are released every week; visit a16z.com for more details and to sign up for our newsletters and other content as well!