The Future of AI Valuation

In terms of AI, when we talk to investors or people in the field, it feels like the tail of two cities. Companies are raising money easily and the rest of the market's eating shit. ATS companies that integrates AI into their workflow is not the same thing as somebody who is building a new form of an ATS on top of an LLM that is AI native. The real game in town is those AI native companies. And over there, it's really interesting. Series A multiples for companies that are building LLMs or the infrastructure layer are sitting at 50 to 100 times revenue right now today. So in the very near term, there'll be enough momentum for this to