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AI/ML unicorns.


The problem with those is that they have to raise at very high valuations because their capital costs are huge.

Anthropic and OpenAI are pretty good because they offer huge comp packages, but many of the others are mediocre because there's limited upside to their stock (rather than raising at a $50m valuation, they might raise at a $1B valuation. A $4B exit is much more life changing when you own 20x as much of the company. And they're very risky.)




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