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Founder, Boardroom Governance: https://nitter.cf/t.co/jvYPiFyZeN | Podcast host | Newsletter: https://nitter.cf/t.co/5W1npDJxrY | Adjunct Professor @uclaw_sf
San Francisco / Silicon Valley
Joined March 2008
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Boards need to make decisions faster than ever.
Sabastian Niles of @salesforce & Jackie Liu of @MoFoLLP discuss AI, regulation and board leadership through rapid change.
🍎 Apple: tinyurl.com/52y782ed
🟢 Spotify: tinyurl.com/49tvbrfr
boardroom-governance.simplec…
Interesting take.
I left Silicon Valley 6 years ago
Why?
Because it's a monoculture
The most extreme group think of any place on the planet
Show up to a dinner party and everyone is in tech
So what do they do? They start stack-ranking each other
And it's a totally ordered set: being founder of co $100B market cap > founder of co with $50B market cap > managing partner of tier 1 venture firm > hired CEO of $50B public co > founder of $10B co > etc etc
Pure toxicity that nerfs creativty
And then as a corollary, people are especially afraid to speak truth to power as everyone knows their place in
"The Hierarchy"
Reject this nonsense. Stay weird. Think independently. Be honest with yourself. Have fun.
🙌🏼
The nation owes a debt to @JGebbia and his excellent team. They worked incredibly hard, with no compensation, to make government services work better for all Americans.
🫡 🇺🇸
Humans are the minority user of AI
Agents burn nearly 5x the tokens people do, up 14x since February
More charts in State of Markets II: a16z.news/p/state-of-markets…
Introducing our State of Markets pt 2, along with a companion podcast where we unpack the data and discuss what comes next.
Tech is the everything cycle.
Supply: putting the buildout in context, just passed railroads as % of GDP. The wisdom of Elon is real: the factory (or the datacenter!) is the product.
Demand: diffusion is so, so early. Median AI vendor spending in the top 1% of companies is 8x that of the top 10%. Only about 30% of S&P 500 companies report a quantified AI impact, which means there’s a substantial opportunity in connecting models to a company's data and workflows. Diffusion into companies is one of the main themes of the next 5 years.
We’re entering the agent work period. Only a few million users today, but applicable to billions of internet users with massive surplus created. META/GOOG monetize US users at $200+ per year today. Agent opportunity is much higher.
Mega-trends the next 5 years: Consumer agents, Robotics, Autonomy, AI x bio, Personal health, Diffusion into enterprise, New era of American Dynamism.
Much more in our SoM report here - a16z.news/p/state-of-markets…
@a16z @sarahdingwang @aleximm @santiago__rdz
🎥 Watch the full conversation from the Boardroom Governance Summit 2026 on YouTube: youtube.com/watch?v=bubuW-pB…
Evan Epstein retweeted
It is unethical per se to even interview at a competitor while attending Board meetings and Board dinners.
Evan Epstein retweeted
We just closed an employee tender offer which values @ElevenLabs at $22BN, up 2x from our Series D in February. The tender was led by Wellington and T. Rowe Price.
A few words on how we got here ↓
Evan Epstein retweeted
Silicon Valley folks need to:
(a) get a crash course in ethics and integrity
(b) learn how to be good Board members
👀
Hey Matan - CEO of Cognition here. I respect the work you have done at Factory but your allegations here about Cognition are not true.
We have no interest in Factory’s info and Chris has never brought it up. He has not shared and would never share any information about you or Factory with our team, nor would we ever ask. Similarly, we would never ask our engineers or anyone on our team to collect info about any competitor under-the-table. Chris is an advisor to at least 10 companies, and he told you he was resigning as an advisor on Monday.
The truth is we both wanted Chris and for good reason - he is a living legend with an unmatched reputation for results and integrity. Not only is he the only person who has built a sales org from the first sales hire to over 3B, he also has built incredible teams that he cares deeply about. His people love working for him.
Again, I have a lot of respect for what you’ve built, but competing with integrity doesn’t include posts like yours.
Evan Epstein retweeted
Ken Griffin gave $3B to Carnegie Mellon, the largest gift in college history
$2B of it is to set up a campus in Miami (Wynwood)
$1B to Pittsburgh, including $500M for the school of Computer Science
CMU Miami will focus on grand challenge areas and will have 3,500 students
Today, Carnegie Mellon University and Ken Griffin, founder and CEO of Citadel and founder of Griffin Catalyst, announced a historic $3 billion gift to elevate Carnegie Mellon in Pittsburgh and launch Carnegie Mellon University Miami. #CMUMiami
Learn more: cmu.edu/news/stories/archive…
“Trust in Board Membership is one of the sacred bonds in the Silicon Valley, one that helps the startup ecosystem thrive. With it comes an enormous responsibility. That trust was violated.”
We are terminating Chris Degnan for unethical conduct involving Cognition.
The last few months have seen incredible progress in AI capabilities. San Francisco has flourished as new companies that solve new, more ambitious problems are finding great success. Generally, it is a wonderful time to be building.
We at @FactoryAI have seen overwhelming interest in our model-agnostic coding agents and our software factory product. Our team has 10x’d in size, while our revenue has 100x’d year over year. This momentum has been unprecedented.
A much larger competitor, Cognition (makers of Devin) has fallen behind us on the capabilities that matter most to customers: cost, quality, and security. Instead of competing in the market, Cognition engineers feigned interviews with us to pry information about our product. Not finding what they were looking for, Cognition has decided to throw their weight and money at people with direct knowledge of our most confidential plans.
It feels as though ethics is being thrown out of the window in the AI era. People are willing to do anything, including exploiting privileged information and violating ethical boundaries. I think this is unique to our time, and I don’t think it’s right. Integrity still matters.
Yesterday, I made the decision to immediately terminate Christopher Degnan’s roles as a Board Observer and Advisor to Factory, after over a year of service.
Prior to this decision, Chris told me he had a casual conversation with an executive at Cognition AI. When I questioned his intentions, he reassured me that ethics aside, he had “made too much money” and was “too lazy to go work for Cognition,” which I trusted and believed.
On Monday, Chris spent time advising the Factory team on a handful of confidential board-level matters. That evening, he called me to say that the conversation that was initially described as casual and one-off was actually formal and recurring. For weeks, while he sat in our board meetings and advised our leadership team, he was also confiding with executives of our largest competitor. Chris was subject to confidentiality obligations in connection with his work with Factory. We do not know the extent of the information he shared, but it puts his timely questions about our product roadmap and what the parity gap involves into a new light.
It is sad to sever a relationship with someone who has been a trusted advisor - and even a close friend - for over a year. But Chris’s conduct is unacceptable to me. Trust in Board Membership is one of the sacred bonds in the Silicon Valley, one that helps the startup ecosystem thrive. With it comes an enormous responsibility. That trust was violated.
Competition is good. I respect and in many cases admire our competitors. San Francisco is a beautiful, singular place where the bold and ambitious go to defy the norms and precedents of the past. But certain principles that must remain. Violating ethics to seek advantage turns what should be positive-sum into zero-sum.
We all love technology. And we all love to compete. But we must hold ourselves to a higher standard. The future of software engineering comes with abundance that will impact every person on Earth. Building that future comes with immense responsibility. We must build and compete with integrity.
Incredible
what the hell is happening
vinod led their $150M series c in april
how do you call your own portfolio company "a struggling second tier competitor"
i am so confused
Impressive
Chief Design Officer @jgebbia officially unveils America.gov, the new online home for the United States of America
President Donald Trump on Tuesday met with the executives of a number of tech companies to discuss AI. Some of the companies in attendance were:
- Palantir
- OpenAI
- Microsoft
- Amazon
- AMD
- Anthropic
- Broadcom
- Meta
- Nvidia
- X
- Tesla
- SpaceX
- Alphabet
- Micron
- ServiceNow
- Palo Alto
The total combined market caps of all the public companies on that list? More than $26 trillion.
Evan Epstein retweeted
Long-time listener, first-time caller! Thank you @evanepstein at @boardroomsummit for a timely discussion about what we're building at @pennant_ai.
Evan is uniquely qualified to bridge the tech communities we've been part of this year at @ycombinator & @PalantirTech and the corporate governance space. Look no further than last month, when he kicked of our CorpGov Tech Summit with the @Society4CorpGov in a 1-on-1 with @ericries that previewed the debate playing out now on the coming @AnthropicAI S-1, among other key issues that are going to shape post-AGI governance in public and private markets.
E222 is out with @rywicks, co-founder & CEO of @getpennantai
We discuss how AI is changing corporate governance, and why human judgment still matters. #corpgov
YouTube, Apple and Spotify links below.
🎧 Simplecast boardroom-governance.simplec…
E222 is out with @rywicks, co-founder & CEO of @getpennantai
We discuss how AI is changing corporate governance, and why human judgment still matters. #corpgov
YouTube, Apple and Spotify links below.
🎧 Simplecast boardroom-governance.simplec…
So excited to welcome @theworldlabs and @drfeifei to the @AMD family! I’ve always been a huge fan of Fei-Fei and her pioneering research in AI. Together, we’ll combine World Labs’ deep expertise in AI and world models with AMD’s compute leadership to power the future of AI and strengthen the open AI ecosystem. Can’t wait for all we’ll accomplish!