E132: MStanley OpenAI solution yields 2,800 more financial advisors, SpaceX wins $843m NASA contract, SpaceX tender increases to $210b, Parker/Schmidt save Stability AI
Episode description
Pre-IPO stock valuations = www.x.com/aarongdillon (see pinned post)
Pre-IPO stock index fact sheet = www.agdillon.com/index
00:06 | MStanley OpenAI solution yields 2,800 more financial advisors
- “Debrief” acts as notetaker, summarizer, and 1st draft email composer for client meetings
- Powered by OpenAI ChatGPT-4
- Estimated 30 mins of advisor time saved per meeting
- Assume 1.5 hrs saved per day per advisor across 15,000 total MStanley advisors is equivalent to adding 2,800 new advisors to ranks
- Productivity gains to show in revenue, net income in 2025?
01:18 |OpenAI acquires Multi
- Multi allows developers to screenshare, work on code together
- OpenAI Enterprise division aims to integrate collaboration tools with OpenAI’s AI solutions
- Multi has 5 employees and raise only $13m, most of team will join OpenAI (acqui-hire)
- OpenAI Enterprise has 600,000 users, 93% of Fortune 500 companies
- OpenAI has a $105b secondary market valuation; +22% vs its last round in Apr 2024
02:30 | Parker, Schmidt invest into Stability AI
- AI image and video generation business
- Parker (ex-Facebook pres), Schmidt (ex-Google CEO), + others to invest $80m
- $100m in debt, $300m in cloud obligations negotiated away
- Prem Akkaraju (CEO) to provide a commercial strategy in 3 months
- Focus on Hollywood studios as customers
04:01 | SpaceX wins NASA/ISS contract
- International Space Station (ISS) to be decommissioned
- SpaceX won $843m contract to build the US Deorbit Vehicle to safely deorbit the ISS
- Deorbit occurs in 2030
05:04 | SpaceX tender now at $210b
- Current tender raised from $200b to $210b
- Last round was $180b ($97/share) to $210b ($112/share)
- Bloomberg reported 2024 revenue forecast to be $15b with Starlink delivering big revenue gains in the year
- At 20x revenue multiple that is $300b valuation
- $210b is a very attractive valuation, in our opinion
06:12 | Hyperplane acquired by Nubank
- Builds foundation AI models for banks re: risk, collections, and marketing
- Acqui-hire as Hyperplane just raised a $6m seed 7 months ago
- Nubank has $10.8b in ARR, serves 100m customers in Brazil, Mexico, Colombia
07:03 | Perplexity gets SoftBank investment
- AI search that competes with Google Search
- SoftBank to invest $10m to $20m at $3.0b valuation
- Part of a broader $250m round
- SoftBank to make $100b in AI investments
07:48 | Pre-IPO +0.77% for week, +63.08% for last 1yr
- Up week: Scale AI +19.1%, Stripe +3.0%, Chime +2.9%, Databricks +2.8%, Wiz +2.1%
- Down week: CoreWeave -2.8%, Anduril -2.3%, Revolut -1.8%, Notion -1.6%, SpaceX -1.5%
- Top valuations: ByteDance $285b, SpaceX $189b, OpenAI $105b, Stripe $78b, Databricks $45b
08:29 | 2024 Pre-IPO Stock Vintage Index week performance
- www.agdillon.com/index for fact sheet pdf
- 2024 Vintage Index top contributors since inception: Rippling +107%, Revolut +49%, Klarna +43%, Epic Games +36%, Anduril +27%
- Key metric averages for all Vintage Indexes 5 years old or older…
435% cumulative return since inception
62% realized, distributed to investors
5.35 TVPI; 3.31 DPI, 2.04 RVPI
4.1 years to return the fund