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The Logan Bartlett Show
Registrace 24. 01. 2022
A podcast hosted by Logan Bartlett (Investor at Redpoint Ventures) covering tech with industry insiders.
Sebastian Siemiatkowski (CEO, Klarna) on the Future of Klarna, Valuation Changes and AI in Finance
Klarna CEO Sebastian Siemiatkowski led the rise from a profitable business to their peak $50 billion valuation, in which they were burning $150 million a month. In my latest episode, Sebastian shares how he turned Klarna back to profitability and discusses Klarna’s ongoing pursuit of creating a digital financial assistant. He also reflects on their recent boardroom drama with Sequoia and outlines the operating principles and the repaired mistakes that have made Klarna the company it is today.
(00:00) Intro
(01:45) Personal Reflections on Alcohol and Family
(03:03) The Journey to Sobriety
(05:57) Milestones and Achievements
(07:59) Understanding Company Success
(10:54) Challenges and Pivots in Business
(16:50) Building and Maintaining Company Culture
(26:16) Leadership and Motivation
(32:42) What Klarna Does
(41:33) Reflecting on Leadership and Self-Development
(41:48) Promoting Young Talent and Internal Growth
(44:52) Balancing Autonomy and Standardization
(46:29) Adopting Agile and Toyota's Influence
(55:05) Navigating Regulatory Challenges
(01:00:11) Klarna's Financial Journey and Market Expansion
(01:10:38) Handling Valuation Resets and Layoffs
(01:23:57) Evaluating Individuals in Business Relationships
(01:24:22) Stability of Institutions and Individuals
(01:25:40) Perverse Incentives in VC Firms
(01:26:50) Hands-On Leadership in VC Firms
(01:28:54) The Impact of Michael Moritz
(01:34:52) Leadership Evolution and Self-Reflection
(01:39:11) Facing Challenges and Finding Solitude
(01:42:19) AI Integration at Klarna
(01:52:03) Balancing Capitalism and Societal Impact
(02:00:53) Creativity and Constraints in Problem Solving
(02:05:41) Conclusion and Final Thoughts
Executive Producer: Rashad Assir
Producer: Leah Clapper
Mixing and editing: Justin Hrabovsky
Check out Unsupervised Learning, Redpoint's AI Podcast: www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA
🎙 Listen to the show
Apple Podcasts: podcasts.apple.com/us/podcast/the-logan-bartlett-show/id1606770839
Spotify: open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1
Google Podcasts: podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg
🎥 Subscribe on CZcams: czcams.com/channels/ugS0jD5IAdoqzjaNYzns7w.html
Follow on Socials
📸 Instagram - theloganbartlettshow
🐦 Twitter - loganbartshow
🎬 Clips on TikTok - www.tiktok.com/@theloganbartlettshow
About the Show
Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.
(00:00) Intro
(01:45) Personal Reflections on Alcohol and Family
(03:03) The Journey to Sobriety
(05:57) Milestones and Achievements
(07:59) Understanding Company Success
(10:54) Challenges and Pivots in Business
(16:50) Building and Maintaining Company Culture
(26:16) Leadership and Motivation
(32:42) What Klarna Does
(41:33) Reflecting on Leadership and Self-Development
(41:48) Promoting Young Talent and Internal Growth
(44:52) Balancing Autonomy and Standardization
(46:29) Adopting Agile and Toyota's Influence
(55:05) Navigating Regulatory Challenges
(01:00:11) Klarna's Financial Journey and Market Expansion
(01:10:38) Handling Valuation Resets and Layoffs
(01:23:57) Evaluating Individuals in Business Relationships
(01:24:22) Stability of Institutions and Individuals
(01:25:40) Perverse Incentives in VC Firms
(01:26:50) Hands-On Leadership in VC Firms
(01:28:54) The Impact of Michael Moritz
(01:34:52) Leadership Evolution and Self-Reflection
(01:39:11) Facing Challenges and Finding Solitude
(01:42:19) AI Integration at Klarna
(01:52:03) Balancing Capitalism and Societal Impact
(02:00:53) Creativity and Constraints in Problem Solving
(02:05:41) Conclusion and Final Thoughts
Executive Producer: Rashad Assir
Producer: Leah Clapper
Mixing and editing: Justin Hrabovsky
Check out Unsupervised Learning, Redpoint's AI Podcast: www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA
🎙 Listen to the show
Apple Podcasts: podcasts.apple.com/us/podcast/the-logan-bartlett-show/id1606770839
Spotify: open.spotify.com/show/5WqBqDb4br3LlyVrdqOYYb?si=3076e6c1b5c94d63&nd=1
Google Podcasts: podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9zb0hJZkhWbg
🎥 Subscribe on CZcams: czcams.com/channels/ugS0jD5IAdoqzjaNYzns7w.html
Follow on Socials
📸 Instagram - theloganbartlettshow
🐦 Twitter - loganbartshow
🎬 Clips on TikTok - www.tiktok.com/@theloganbartlettshow
About the Show
Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.
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The relationships among Microsoft, Sam and United Arab Emirates is troubling. I don't think Sam is honest and I wonder how a company originated as a non profit company may come to dominate AGI and what it may cost us. I wonder what the considerations are for centering AI in the middle east for Sam. Having rules for nuclear weapons was an odd example of how we might regulate Ai given that these weapons can end humanity. Perhaps he recognizes the inherit danger Ai represents? I don't trust Microsoft's motivation for Ai or the UAE. We should be looking at how we may need to regulate Ai. Corporations will try and lock into licenses for using Open source information. Will this really be beneficial for humanity or just wall street? I see Ai is a great tool. I am using Claude not GPT-4.
This dude is so creepy. I distrust him instinctively
this is underrated podcast
You really think the us gov would leave the worlds Fate in the hands of a bunch of computer nerds?
All of are motivations are from our biology. Where do AI's come from?
He’s likely right and also an idiot at the same time. There is no way to stop it, as even if you could stop in the US, or even in 100+ other countries, bad actors would still leverage and evolve it, but would then be unopposed in the current cat and mouse game- but just that there would only be a cat. Do you think drug lords, dictators and other bad actors would cease their current AI efforts? He also seems to not appreciate and/or understand the implications of the power, growth rate and independent evolutionary path of open source, private research and dark R&D. He is making assertions that are simply poorly or completely insupportable, while ignoring all the other sources of AI R&D, and deployment that cannot be controlled via any of the mentioned mechanisms.
👏
The price was $7.4B NOT $8.5B. Do your homework
Founder is not self-invested for cross-Atlantic monopoly.
In Taiwan Ai never has any one could make that fast speed, many countries invest on Taiwan whole country has become new technology country, the owners make 2 huge computers sent to big university to training many students.
Intel and AMD will definitely have their share of the market. TSMC is at max capacity and investing in other semiconductor companies will be an absolute power move, I keep increasing my shares manageably. Different chips are good at different things and Nvidia has been very specialised, which leaves other aspects of Al open.
This is the type of in-depth detail on the semiconductor market that investors need, also the right moment to focus on the rewarding AI manifesto.
certainly, i had bought NVDA shares at $300, $475 cheap b4 the 10 for 1 split and with huge interest I keep adding, i’m currently doings the same for PLTR and AMD constructively. Best possible way to get ahead, is participating behind top experienced performers.
How much of their stock do you own? Seems like a lot of your investment is riding on this
You are buying a company to own it and not a piece of paper, The market is a zero-sum game (2 sides), Know what you are buying not just out of trend interest.
Amazingly, people are starting to get the uniqueness of Palantir.
I learn every day from Taiwan’s Media special upgrades from world happen new things, since Taiwan has Ai king Jensen Huang with another two scientists they are Open Nividia with Taiwan special company TMSC they has so many companies including over many Americans richest peoples together make that Ai company, including American President investment lots in Taiwan, so they want protect those properties belong to them, including build military, build all countries except China, Russia, or North Korea, or Middle East east Elon, or South Korea, also don’t allowed any people send computer to those countries, otherwise will send to jail or FBI will got them.
Enjoyed the interview Sebastian!
Fantastic interview and amazing humble and clear ceo
Very valuable interview. Sebastian is a OG
Can AI help me NOW??? Eventually you will, but for, a Gun seems better...
"That's less than half of seven, Gary!" Hahaha this was a great one. Got me thinking about packaging, well, packaging something different. Thanks guys!
No one cares!!!!!!!!
I still think there's a huge gap between how AI doomers think about how it can go wrong and how the actual world works.
again indian CEO lol
He’s so funny surprisingly to me
I really don't get it why everyone in comments share his point of view.. I guess nobody smart wastes time with this guy, they are busy developing startups benefiting from GPT
Yep longevity escape velocity by 2029 !
No hate for him, but I've a strong feeling this company is just soaring through this AI phase and soon it will be out of the market.
She's an owned puppet
It's already my everyday company
Speaks and dictates in a very similar manor to elon musk like speech pattern not the message lol
Ask yourself this, because these people will not. What happens now as AI is only becomes weaponised automation, used in the service of greed, power and grandiose delusions? look hard at the bold promises vs the actual returns, at who wins and who loses.
The sound quality makes it kinda hard to understand for me as non native speaker.
I love this guy
Remember when those reddit gamers used your app to get rich and your rich friends made you change the game cuz your a bunch of sore losers.
So CEOs are sociopaths. That's what I heard. Constantly thinking of how actions are perceived so they can gain an advantage on people around them
Thats the face of a person that only cares about the money side of AI and not what good it could do for humanity because thats not gonna make him money. No wonder the good people are leaving OpenAI and the compliance team was fired and replaced by probably people that dont care either. I cant look at this guy anymore. Acts like he invented the shit while all he did was monetize it instead of helping humanity with it
And he's gonna have the government regulate the sht out of open source projects
Good question about what young software engineers should focus on
One go-to question he asks: What's the hardest project you've ever worked on? Kaufer said he listens for tendencies to blame others (a red flag) or an ability to empathize with coworkers (a green flag). "That can often tell me, are they a team player?" he said. "It can tell me, are they ever taking responsibility for why something became difficult?" This is totally dependant on level and circumstances. If you’re managing projects for executive level leaders and they’re making decisions without listening to the advice of the project manager and SMEs… the issue is the exec. It’s completely unrealistic to think projects do not exist where people are the problem.
Like, like , like , like 😵💫😵💫😵💫😵💫
You should have asked when will gpt update itself 😂😂😂
Thanks for going beyond all the big headlines. At JetSoftPro, a software development service, we work a lot with startups and see an incredible increase in interest in AI. Everyone either already implements it in their developments or plans to do so
As someone who's been inside Datadog, I truly admire Olivier's leadership and vision (since I joined), especially regarding the bottom-up approach to sales. This strategy, in my opinion is the future of Enterprise sales. It’s something I really valued during the interview process when deciding to join Datadog. I get how challenging it must have been to shift to outbound sales and engage various levels within customers (would have been awesome to have been part of that process!). As a sales systems freak, I think some aspects could be improved, but only a few companies have been capable of scaling in this manner. Efficient collaboration between sales teams is key here. As a big fan of company culture, I totally admire Olivier's approach. It’s so true that Datadog culture is amazing, and the talent and people here are huge assets (I've made some of the best friends I have today! 💜). I’ve met people from all regions and all departments, from engineering to customer success, and it’s clear how the culture is shaped by who the company hires, ensuring that the team is composed of doers and fixers who drive the company forward. Big congrats to Olivier, Alexis and everyone at Datadog for navigating these complexities and taking the company to where it is today. Wishing the best for Datadog! 🐶 And also thank you Logan for the great podcast!
wow great video
I think in 5 years or less you will be able to run the equivalent of GPT-4 on a normal computer. And a very high end PC may run something 5 times more powerful.
Just talking shit gobbldook crap my friend !! You should be embarrassed even posting this shit !
I don't think this guy has a clue.... How come and this under-qualified nerd is allowed to be in charge carte blanche is beyond me
He does have a clue, he's just malicious
It's a hard sell with bad actors
I imagine that stocks on blockchain would upset some of the big guys.... Being that apparently, the paper trail for stocks and derivatives currently is in a limbo or something...
Legal work is MADE to be done by Ai. that's probably why psychopaths excel at it, just a rules system you don't have to care about in order to win; but that defeats the purpose of law even when individuals attempt to delegate their responsibility to the republic.
You know what I wish gpt stuff by all companies stops working without any reason and we all return to a better precovid world
I'm at a loss! In what Universe is there a general respect for property rights, personal freedom and accountability for corporations? This isn't a US bashing post, but a global hedgemon, and to a much lesser extent, it's rivals, attempt subjugate the rest of the globe at massive human cost. If able to control all humanity at the touch of a button, that control would be immidiately siezed upon. If an ASI were to fully adopt the US capitalist doctrine, EVERYONE would be a slave... or dead!
Wheres the Ai to wash and put away me dishes
If you want a glimpse into the future, look at Hikikomori