The Changelog: Software Development, Open Source Open is the way (Interview)
Jul 31, 2024
Joseph Jacks, founder of OSS Capital and an expert in commercial open source, dives into the latest trends in funding and the transformative potential of open source software. He discusses the impact of Meta's Llama 3.1 release and the challenges of licensing in the open source world. Jacks also emphasizes the importance of community engagement and the evolving landscape of security for developers. The conversation highlights innovative strategies for sustaining open source in a capitalist environment, revealing both opportunities and complexities.
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OSS Capital's Beginnings
- Joseph Jacks started OSS Capital with no money after his second startup failed.
- He gained traction by blogging about commercial open source and tweeting about the fund.
Open Source Thesis Validation
- Joseph Jacks' thesis, "open source is eating software faster than software is eating the world," proved correct.
- Open source companies have become a multi-billion dollar investment category.
OSS Capital's Growth and Investments
- OSS Capital, now on its third fund, manages a couple hundred million dollars with 70+ investments.
- Their first exit was Remix, sold to Shopify, which re-architected its web framework around it.