We’ve already had the pleasure of welcoming Julien Boubel, an early-stage investor in Cyber + Automation, to MerciSF columns on several occasions (check the videos). However, given that he returned to Europe three years ago, his recent comments on Silicon Valley have a fresh perspective.
He took advantage of the summer to visit the Bay Area, meet lots of people, and thus share with us a completely fresh perspective on things. Get ready for some good news, the vibes in San Francisco and Silicon Valley are as positive as ever, no matter what the skeptics say.
“After an inspiring 2.5 weeks in San Francisco, I had over 30 conversations with Entrepreneurs, Investors, VCs, and friends, and I’m thrilled to share my key takeaways with all of you:
👥 Large meetings with over 6 people are now a big “No/No.”
🧠 Generative AI is not a myth! We’re witnessing a transformative era, reminiscent of 2000 and 2009. The Valley is buzzing with excitement about how “LLM” (Gen AI) can revolutionize the way businesses and individuals operate. The market for Gen AI is projected to reach over $100B by 2030, with 80% of current AI research focused on it. 🤖 ⅔ of all US jobs will be directly impacted by Gen AI (data from AWS).
⚠️ At least 20% of jobs will vanish within 5 to 7 years. The big question is: how many new opportunities will arise?
💼 Remote workers in the tech industry are in for a challenging time among those 20%.
📈 Markets (Public and private) are expected to soar until the next elections (2024).
💡 Investing in early-stage SaaS B2B AI (Gen and any flavors) is a tough nut to crack. It’s not just about strong tech and founders; it’s about how quickly they can adapt to market opportunities.
⏱️ Like Cyber, SaaS B2B investment cycles will become much shorter (18-36 months).
📊 Vendor sales pitch must focus on [1] Who we are [2] Our mission.
🎯 Leaders are laser-focused on 4 goals:
- [a] Thought Leadership
- [b] Expertise
- [c] Data
- [d] Automation.
🎉 Age is just a number! 60 is the new 40… years old.
💊 A reality check: Drug (Fentanyl) has made 20 the new 80… years old.
🌆 San Francisco is beautiful! Let’s not get carried away by the “SF Gloom” videos; they don’t portray the city’s true essence. It’s like painting Paris Porte de la Chapelle as a fair representation of the Capital of France.
💪 Last but not least, VCs are super optimistic about future investments and also deeply concerned about their recent ones.
Dear entrepreneurs, investors, and friends, buckle up! These coming years are filled with excitement and opportunities. Let’s make the most of it together!”
Merci Julien
