Insights from Coatue's Growth Investor Lucas Swisher

Описание: Lucas Swisher co-leads the growth fund at Coatue where he has partnered with iconic companies like OpenAI, Harvey, Deel, Canva, Openevidence, Anthropic, and others. Prior to Coatue, he was on the investment team at Kleiner Perkins, where he focused on growth stage software businesses.

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Timestamps:

00:00 Intro
01:04 Why Public SaaS Is Getting Crushed in the AI Wave
07:35 Durability of Revenue in AI
15:28 Market Size vs Founder Quality: What Wins?
16:52 Why Price is the Last Thing to Matter
23:32 Mega-Funds Math: Can $5B+ Funds Still Generate Venture Returns?
27:01 What Returns Are 'Enough'? Why 3x Isn't Exciting at Growth
29:54 When Double-Downs Go Wrong: Overestimating TAM and Multi-Product Expansion
32:37 Margin Matters… But at Scale: AI Gross Margins, Cost Curves & Efficiency
37:11 Why it has never been harder to be a seed investor
40:11 Is 'Kingmaking' a Myth: When Capital Helps (and When It Hurts)
45:23 Is Canva Really a Platform Company? Multi S-Curves and Leaning into AI Early
46:52 Lessons from Mary Meeker
50:08 Lessons from Mamoon Hamid
51:34 LP 'Pick One' Games: Mamoon Hamid, Mary Meeker, Insight Partners
53:40 OpenAI vs Anthropic: Who Wins?
59:17 Most Memorable Founder Meeting
01:01:35 Career Decisions & Misses

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