Episode description
20VC: Why SaaS is Dead | Why AI First Companies Will Win | We are in the Middle of a Cold War for AI Talent | Why Europe is F******* and We Need to Stop Whining with Daniel Khachab, Co-Founder @ Choco
Episode description
Daniel Khachab is the co-founder and CEO of Choco. Today, Choco’s AI platform facilitates half of all food traded in major cities like New York, Paris, London, and Berlin, cutting food waste and streamlining distribution. Since its founding in 2018, Choco has raised $330 million from Bessemer, Coatue (its first European investment), and Insight, reaching unicorn status within 2.5 years. Previously, Daniel was the youngest Managing Director at Rocket Internet, where he oversaw growth across Latin America, Southeast Asia, Australia, and the Middle East.
From Seed to $1BN in 30 Months:
1. We Killed a $BN SaaS Business to be AI First:
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Why does Daniel believe that SaaS is dead?
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What does an AI-first company mean?
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Why does Daniel believe AI-first companies will win the next 10 years?
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What foundation models does Daniel and Choco use today?
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How has the cost of using different models changed?
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What categories are vulnerable to being attacked with vertical products from the foundation model providers?
2. Europe is F*******: Why and What To Do:
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Why does Daniel believe Europe is at a massive disadvantage in the next 10 years of AI?
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Chips: What can Europe do to encourage chip production and manufacturing to take place on European soil?
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Energy: What can European governments do to encourage energy providers and new forms of renewable energy to innovate to provide the energy AI needs?
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Talent: Why does Daniel believe AI talent is the hardest problem that Europe faces? What can governments in EU do to resolve this problem?
3. Lessons Scaling to $1BN in 30 Months:
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Does Daniel regret raising at a $1.1BN valuation?
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Why did he throw a unicorn party with the round? Why does he regret it so much?
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What did Daniel spend money on that he wish he had not spent money on?
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What did Daniel not spend money on that with the benefit of hindsight, they should have spent money on?
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When your competition raises a lot of funding, does that mean you should also?