Gurley invokes Spielberg's Jaws example to suggest AI expectations may exceed what can actually be delivered.
“I saw this inner great interview once with Spielberg when he was talking about Jaws. And he said, you know, I didn't show the shark until like 75% of the way through this thing.”
Gurley warns that higher valuations create higher expectations where slight missteps put companies underwater.
“Valuations represent discounted future expectations. So the higher the valuation you take, the more is expected of you and the slight misstep and you could be way underneath.”