Gerstner warns his team that being too early on investments is as dangerous as being too late.
“When we think about the future we're always paying attention you know one thing that I would say is I remind my team it's just as dangerous to be too early as it is to be too late.”
Gerstner warns his team that being too early on a trend is as dangerous as being too late.
“And I was talking of I was worried about the future of search and the future of vertical search starting in 2010,”
Gerstner warns investors could wait years to invest in AI winners, citing search investment timing precedent.
“you didn't have to invest a dollar in search until 2003 and you would have captured 98, 99”
Gerstner argues waiting until Google's 2004 IPO still captured 95% of all search value ever created.
“you didn't have to invest in search until Google's IPO in 2004 to capture 95% of all ever generated by Internet search.”
“I think there's plenty of time. If this is going to be as big and as transformational as humanity as we all think it will be, remember, you didn't have to invest in search until Google's IPO in 2004 to capture 95% of all ever generated by Internet search.”
Gerstner argues asking why now is the single worst question in technology investing history.
“The single worst question or the question that's cost the most money in the history of technology investing is why now? Okay.”
“I mean, Satya talks about all the vast value capture occurs in the two to three year period around phase shifts. But it's hard to forecast in this those moments.”
Gerstner has added a small Uber position in recent weeks during pullbacks.
“We actually have a small slice of of Uber in our portfolio today that we've added right over the course of the past few weeks on some of these pullbacks.”