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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?

May 22, 2024

Aaron Levie, Co-Founder and CEO of Box, discusses the transformative window in AI, the impact on business models and SaaS, the future of AI agents, and startups' strategies against OpenAI. Covering AI adoption challenges, the next AI breakthrough, and the battle between startups and incumbents in the AI space.

56:32

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Aaron Levie

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Quick takeaways

AI will transform business models in SaaS, emphasizing value-driven services over tools.

AI agents are predicted to be the next big breakthrough, reshaping organizational structures.

Startups must outmaneuver incumbents like OpenAI by offering unique functionalities not easily replaceable.

Deep dives

AI Landscape and Emerging Technologies

In this episode, insights are shared about the evolving AI landscape and the emergence of breakthrough technologies and applications. The discussion highlights the significance of AI in creating new platform-scale companies during specific technological shifts. The importance of focusing on workflows that offer unique functionality not easily subsumed by existing chat interfaces is emphasized.

Future of Open AI and Strategic Implications

01:32

Maximizing the Potential of AI Beyond Chat Interfaces

01:15

The Future of AI Services and Infrastructure

01:39

Navigating the Competitive Landscape of Tech Transitions in AI

01:56

Introduction

4min

AI Evolution and Business Transformation

15min

Exploring the Intersection of AI Experimentation and Production Spend in Enterprises

2min

Navigating Business Transformation in the AI Era

13min

Regulation and Progression of AI

17min

Future Goals and Transition of Box with Emphasis on AI and Revenue Growth

2min

Discussion on Cooley, Navan, and Squarespace services for startups and entrepreneurs

3min

Aaron Levie is one of the OG founders of the last two decades as the Co-Founder and CEO of Box. Today, Box does over $1BN in revenue with a market cap of $3.85BN, and has raised over $560 million from the likes of DFJ, Andreesen Horowitz, and Coatue.

In Today’s Episode with Aaron Levie We Discuss:

What You Need to Know Entering This AI Wave:

Why does Aaron think we are currently in a transformative window in AI?
What does Aaron think it takes to be successful in this next wave?
Which areas does Aaron think founders should be focusing on today? Where should they not?

AI Adoption: Business Model, Implementation, Regulation.

How does Aaron think AI will change how we work & run a business?
What does Aaron think is the single biggest obstacle to AI adoption in large organizations?
Does Aaron agree with Sarah Tavel @ Benchmark AI companies will be selling work not tools?
How does Aaron think AI will change the SaaS business model?
Why is Aaron not as worried about AI regulation? What are his biggest concerns today?

The Next AI Breakthrough: AI Agents

Why does Aaron believe the next big breakthrough in AI will be agents?
How does Aaron think AI agents will change org structures?
How does Aaron think agents will differ from RPA? How will RPA companies benefit from AI?
What does Aaron think AI agents will look like in five years?

Startups vs Incumbents: Who Wins?

What is Aaron’s advice to startups today building against OpenAI?
Does Aaron think startups have more advantage in foundational models or the application layer?
What advantages do incumbents have? What are their biggest weaknesses?
Who does Aaron think are the biggest winners in AI today? Who is underperforming?
Why does Aaron think Apple isn’t losing the AI race?

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