Uncapped #5 | Sarah Guo from Conviction

Jack Altman interviews Sarah Guo about the nature of VC firms, brand building, and the current market landscape, especially regarding AI. Guo shares her perspective on venture capital as a commodity, emphasizing the importance of people, beliefs, and unique advantages. The conversation explores how enduring VC brands compound value through ethos, tribal knowledge, and networks. Guo discusses the significance of brand in attracting founders, the role of partner marketing in demonstrating network value, and the importance of having a strong conviction. They delve into the balance between returns and brand, the impact of large firms on the ecosystem, and strategies for smaller firms to compete. The discussion shifts to AI, with Guo sharing her rationalist view on economic value creation and the signals they look for in companies. The conversation touches on the potential for AI to create more large companies and the pricing dynamics of AI agents replacing labor. Finally, they discuss the importance of agency and force of will in founders, and the educational implications of AI for the next generation.