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Published · transcript-backedMartin Casado: commitment
19 Feb 2026 Latent Space Bitter Lessons in Venture vs Growth: Anthropic vs OpenAI, Noam Shazeer, World Labs, Thinking Machines, Cursor, ASIC Economics — Martin Casado & Sarah Wang of a16z
“If I can raise more money than the aggregate of everybody that’s using it, I will consume them whether I’m a GI or not.”
Source trail
Everything needed to verify it.
- Speaker
- Martin Casado
- Attribution
- Verified speaker
- Claim type
- commitment
- Recorded
- 19 Feb 2026
- Publisher
- Latent Space
Transcript context
…Yeah. Yeah. I think the models need to ask them to, to specific tasks. You know? It’s like, okay, now Opus 4.5 might be a GI at some specific task, and now you can like depreciate the model over a longer time. I think now, now, right now there’s like no old model. No, but let, but lemme just change that mental, that’s, that used to be my mental model. Lemme just change it a little bit. If you can raise three times, if you can raise more than the aggregate of anybody that uses your models, that doesn’t even matter. It doesn’t even matter. See what I’m saying? Like, yeah. Yeah. So, so I have an API Business. My API business is 60% margin, or 70% margin, or 80% margin is a high margin business. So I know what everybody is using. If I can raise more money than the aggregate of everybody that’s using it, I will consume them whether I’m a GI or not. And I will know if they’re using it ‘cause they’re using it. And like, unlike in the past where engineering stops me from doing that. Mm-hmm.…
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