The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Box's Aaron Levie on Predictions for the Next Wave of AI: Will Foundation Models Be Commoditised | How the Business Model of SaaS Changes Forever | Startups vs Incumbents: Who Wins | App vs Infrastructure Layer: Where is the Value?
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May 22, 2024 
Aaron Levie, Co-founder and CEO of Box, discusses the transformative wave of AI and its implications for businesses. He delves into the potential of AI agents, predicting they will redefine organizational structures. Levie emphasizes how AI will shift SaaS business models from seat-based to value-driven, while also addressing the hurdles of AI adoption in large organizations. He shares insights on the competitive landscape between startups and incumbents, and expresses a lessened concern about AI regulation, focusing instead on innovation and adaptation.
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Transformative AI Window
- Technological shifts create opportunities for new large companies to emerge.
- Incumbents have advantages in AI due to data and established workflows.
Foundation Model Differentiation
- Few foundation model companies will reach the scale of application layer companies.
- Commoditization by large players makes differentiation difficult in the foundation model layer.
Unprecedented Model Improvement Rate
- Token window size, a critical metric for AI models, has improved 500x in 18 months.
- This rapid improvement is unprecedented in technology history.