Alex Rampell reflects on his journey from a software entrepreneur to leading a16z's apps fund, discussing the qualities he seeks in founders: high agency, historical knowledge, and the ability to attract talent, capital, and customers. He emphasizes the importance of motivation beyond financial gain, driven by "revenge or redemption." Rampell outlines three investment categories for AI-driven applications: greenfield opportunities, labor-replacing software, and proprietary data moats. He highlights the need for defensibility in a rapidly evolving AI landscape, where software can be quickly developed but also quickly become obsolete. Rampell uses examples like Renaud Laplanche's Upgrade and OpenEvidence to illustrate these points.
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