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Bill Maris: How Google Could Crush AI Competitors, Why Small Funds Win, and AI's Atari Stage

6/9/202629 min

(0:00) Bill Maris joins the Besties!

(0:33) Four critical lessons from a career in technology

(5:58) Building Google Ventures with data and machine learning

(9:51) Why small VC funds beat big ones on average

(14:36) OpenAI's valuation problem and the AI price war

(19:09) AI's "Atari Stage": what comes next?

(25:23) VC's broken incentives and the future of deep tech

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Clips

Transcript preview

First 90 seconds
  1. Speaker 0· Soundbite0:00

    [upbeat music] After saying he was out, now Bill Maris is returning to the investing world. The founding CEO of Google Ventures has raised $150 million for his new fund called Section 32.

  2. Bill Maris· Guest0:12

    With a smaller fund, I have the advantage to be very selective in the companies that I invest in, the people that I hire. We're gonna invest for a financial return. Any other metric is impossible to measure, and therefore, won't succeed. Think of the change that has happened just in the last hundred years, and what's about to happen in the next hundred years with the advent of AI. The world's gonna change by orders of magnitude. Thank you very much for that, uh, warm welcome. I am Bill Maris. I'm the founder of Section 32. Prior to that, I was the founder and CEO of Google Ventures. I was also Google's vice president of special projects, where I incubated Waymo and Google X, Calico, uh, uh, and many other, uh, projects as well. Uh, and before that, I founded a web hosting and data center company, uh, which we're gonna talk a little bit about. Um, and, uh, today I think I'm gonna talk to you about a few of the lessons I've learned on these interesting experiences I've had, uh, in life. So we'll start... We're gonna have four lessons I'm gonna talk about, and we're gonna go back to 1997 to start, when I was a, uh, fresh college graduate. I had a degree in neuroscience, uh, and I found myself on Wall Street. Uh, somehow managed to land a job there,

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