https://minutesof.com/on/business-model/ Everyone on the record about business model: 24 verbatim quotes from 7 people, October 2011 to August 2026, in one chronology, each with a timestamp and a… en Sun, 30 Aug 2026 22:32:50 +0000 https://minutesof.com/q/68acbd25-bfb2-4770-bc67-f180123ce49d/ https://minutesof.com/q/68acbd25-bfb2-4770-bc67-f180123ce49d/ “A decent subset of the market is willing to pay a premium for true frontier intelligence, but Anthropic and OpenAI are on that hamster wheel.” — David Sacks, All-In Podcast Tue, 25 Aug 2026 18:00:26 +0000 business model https://minutesof.com/q/db67ec3a-2c83-40ab-9da0-9bfc8bb418d1/ https://minutesof.com/q/db67ec3a-2c83-40ab-9da0-9bfc8bb418d1/ “Because their whole right to charge this massive premium for tokens is because they're six months ahead of those open models.” — David Sacks, All-In Podcast Tue, 25 Aug 2026 18:00:26 +0000 business model https://minutesof.com/q/b18d31ec-64d8-4147-923e-7a957eb56092/ https://minutesof.com/q/b18d31ec-64d8-4147-923e-7a957eb56092/ “I would be going to the buyers of GPUs, Traniums, and whoever and say, I'll participate in the NVIDIA credit wrapper. Now their business is just inherently less stable and predictable,” — Gavin Baker, Invest Like The Best Tue, 04 Aug 2026 12:00:33 +0000 business model https://minutesof.com/q/03ba6639-ea2d-4d76-bef9-4e3489cef21a/ https://minutesof.com/q/03ba6639-ea2d-4d76-bef9-4e3489cef21a/ “Hock's model has always been to find a profit pool that has been drained and there's no competition left, enter that and jack prices up.” — Gavin Baker, Generating Alpha Podcast Wed, 08 Jul 2026 15:54:53 +0000 business model https://minutesof.com/q/ffff151d-b3bd-4275-9566-23a57e2a8c2e/ https://minutesof.com/q/ffff151d-b3bd-4275-9566-23a57e2a8c2e/ “Our role is to originate the assets. If we originate good risk that offers excess return per unit of risk, we will prosper, and we will have lots of buyers for our product, our own balance sheet, funds, individuals, institutions, insurance companies, four zero one ks, and so on.” — Marc Rowan, Marsh Fri, 06 Feb 2026 21:54:43 +0000 business model https://minutesof.com/q/d6489a6e-b7ec-492f-b045-b892357854ec/ https://minutesof.com/q/d6489a6e-b7ec-492f-b045-b892357854ec/ “And then I left when we hit a few million of revenue. More and more of the revenue was coming from not Substack. The reason was like, Hey, Substack takes 10%.” — Dylan Patel, Chris Best Substack Fri, 31 Oct 2025 18:23:40 +0000 business model https://minutesof.com/q/938cd181-af77-4e91-8b8c-200ec3fdf886/ https://minutesof.com/q/938cd181-af77-4e91-8b8c-200ec3fdf886/ “And so those are probably less likely to be able to succeed versus those who are locking in these massive deals with or long term deals that may not be massive but with enterprises or with AI labs, or with the hyperscalers who have no capacity because the demand is just so incredible.” — Dylan Patel, Open Compute Project Thu, 23 Oct 2025 06:01:45 +0000 business model https://minutesof.com/q/d37a5a6e-798f-497c-baac-0c713ac36c5d/ https://minutesof.com/q/d37a5a6e-798f-497c-baac-0c713ac36c5d/ “Those that are just targeting developers on short term rentals, they may not be able to get their ROI back.” — Dylan Patel, Open Compute Project Thu, 23 Oct 2025 06:01:45 +0000 business model https://minutesof.com/q/bd4b1861-d8a5-4553-aea4-1d8c9227603e/ https://minutesof.com/q/bd4b1861-d8a5-4553-aea4-1d8c9227603e/ “And so I think that's what a lot of this is, is you end up with the public business as like a loss leader just to generate private engagements, whether it be sovereigns or enterprises.” — Dylan Patel, Open Compute Project Thu, 23 Oct 2025 06:01:45 +0000 business model https://minutesof.com/q/a5a36fd6-ef64-421d-871a-a04382e1453c/ https://minutesof.com/q/a5a36fd6-ef64-421d-871a-a04382e1453c/ “Most of the inference providers are selling at flat margins or even negative for their public endpoints. And they then make it up when people do private deployments.” — Dylan Patel, Open Compute Project Thu, 23 Oct 2025 06:01:45 +0000 business model https://minutesof.com/q/904d0830-6f77-4cc1-8d6b-b48f78da9551/ https://minutesof.com/q/904d0830-6f77-4cc1-8d6b-b48f78da9551/ “And then we had the idea of charging for certain add ons, certain models. Like, it would recommend what seed to use and recommend what fertilizer to use” — David Friedberg, Venture Europe Thu, 09 Oct 2025 12:21:31 +0000 business model https://minutesof.com/q/b9b60343-f004-428f-ad12-f04b19914c13/ https://minutesof.com/q/b9b60343-f004-428f-ad12-f04b19914c13/ “I generally think that ag products should be built and priced on a value creation system. So, you know, this is the Monsanto pricing model.” — David Friedberg, The Modern Acre Thu, 11 Sep 2025 16:54:41 +0000 business model https://minutesof.com/q/b12760bd-698b-424c-b3c9-af755b1888d5/ https://minutesof.com/q/b12760bd-698b-424c-b3c9-af755b1888d5/ “Okay? And that $5,000 of revenue is requiring an investment of 1 to $2,000 an acre.” — David Friedberg, The Modern Acre Thu, 11 Sep 2025 16:22:17 +0000 business model https://minutesof.com/q/bea63ab4-2811-4e8f-a074-3fe239719551/ https://minutesof.com/q/bea63ab4-2811-4e8f-a074-3fe239719551/ “the business transformed into, you know, selling data, right, or build building datasets and selling them. Right? And when the business truly flipped to that, we're now 95% of the revenue is that data” — Dylan Patel, Origins with Sonith Tue, 10 Jun 2025 17:13:06 +0000 business model https://minutesof.com/q/cdc3137b-46bc-4f2f-b806-0027eff1d1ce/ https://minutesof.com/q/cdc3137b-46bc-4f2f-b806-0027eff1d1ce/ “But at twelve months, the retention even in OpenAI is like 35%. So I doubt that anyone that is looking at that even at 2,000,000,000 feels great about that as a durable business model.” — Brad Gerstner, BG2 Pod Thu, 25 Jul 2024 14:00:00 +0000 business model https://minutesof.com/q/5dc1922a-8db1-4ec4-875d-a1ef15552948/ https://minutesof.com/q/5dc1922a-8db1-4ec4-875d-a1ef15552948/ “And farmers don't wanna pay for data. They wanna pay for results. So that's a that's kind of a very hard thing to do without the the integration of data.” — David Friedberg, The Modern Acre Tue, 04 Jun 2024 12:55:12 +0000 business model https://minutesof.com/q/ece156a0-d235-477b-9399-0a41ba9e4070/ https://minutesof.com/q/ece156a0-d235-477b-9399-0a41ba9e4070/ “I generally think that ag products should be built and priced on a value creation system. So, you know, this is the Monsanto pricing model.” — David Friedberg, The Modern Acre Tue, 04 Jun 2024 12:55:12 +0000 business model https://minutesof.com/q/ed0d95b4-5500-4a83-bb07-06eadf95dd0d/ https://minutesof.com/q/ed0d95b4-5500-4a83-bb07-06eadf95dd0d/ “Perplexity came out and said that they were, you know, considering advertising and they there were statements in their previous releases that were very negative on advertising.” — Brad Gerstner, BG2 Pod Thu, 04 Apr 2024 17:20:29 +0000 business model https://minutesof.com/q/10351f6d-b69b-4e5e-87a2-34354eb9bdf5/ https://minutesof.com/q/10351f6d-b69b-4e5e-87a2-34354eb9bdf5/ “Their business model is to throw their customers in a cage match and let them compete with one other to the death.” — Bill Gurley, BG2 Pod Thu, 08 Feb 2024 19:35:00 +0000 business model https://minutesof.com/q/20da4821-b76a-410b-9652-08afd920f9ca/ https://minutesof.com/q/20da4821-b76a-410b-9652-08afd920f9ca/ “Farmers want to pay for value. I want to pay for ROI. I want to spend $8 and get $60 back.” — David Friedberg, AgFunder Mon, 02 Oct 2023 13:03:03 +0000 business model https://minutesof.com/q/6ea01c3c-45eb-4884-8dc7-789f80eab265/ https://minutesof.com/q/6ea01c3c-45eb-4884-8dc7-789f80eab265/ “If you already have a 100,000,000 people following you like MrBeast does, he just goes on his video and he says, buy my chocolate bar. And he sells 50,000,000 chocolate bars.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 business model https://minutesof.com/q/2730187d-e4fc-4682-a4dd-d9c874843826/ https://minutesof.com/q/2730187d-e4fc-4682-a4dd-d9c874843826/ “Think about what that does from an alignment point of view. We go to a client and we offer them nothing that we don't already own.” — Marc Rowan, David Rubenstein Wed, 20 Apr 2022 11:09:09 +0000 business model https://minutesof.com/q/cfbef077-ef08-45c3-9a4a-dfa9d3d2cc38/ https://minutesof.com/q/cfbef077-ef08-45c3-9a4a-dfa9d3d2cc38/ “Companies generally have a lower operating expense per customer so they can make less profit per customer and build a great business.” — David Friedberg, CNBC Television Tue, 13 Jul 2021 17:05:56 +0000 business model https://minutesof.com/q/979e528d-00e0-448b-880b-f8ca9b043e9a/ https://minutesof.com/q/979e528d-00e0-448b-880b-f8ca9b043e9a/ “Those small variations occur to 40% of farmers. So 40% of our farmers getting some money back at the end of the season” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 business model