Andrew Homan & Chris Miller - Redefining Semiconductor Progress - [Invest Like the Best, EP.395]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 • 2.4K Ratings

🗓️ 5 November 2024

⏱️ 88 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guests today are Andrew Homan and Chris Miller. Andrew has spent two decades at Maverick Capital and is a managing partner at Maverick Silicon, where he leads the firm’s technology investments. Chris is a professor at Tufts and the author of the New York Times best-selling book “Chip War,” which details the geopolitical battle to control the semiconductor industry. Together we get into a comprehensive discussion on the semiconductor ecosystem and the silicon backbone of our digital age. Andrew and Chris share insights on how venture capital is navigating this complex industry and what it means for the future of computing. We discuss the AI-driven revolution in chip demand, the geopolitics of semi-manufacturing, and the next wave of innovation beyond NVIDIA. Please enjoy my conversation with Andrew Homan and Chris Miller. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest growing FinTech company in history and it’s backed by more of my favorite past guests (at least 16 of them!) than probably any other company I’m aware of. It’s also notable that many best-in-class businesses use Ramp—companies like Airbnb, Anduril, and Shopify, as well as investors like Sequoia Capital and Vista Equity. They use Ramp to manage their spending, automate tedious financial processes, and reinvest saved dollars and hours into growth. At Colossus and Positive Sum, we use Ramp for exactly the same reason. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. — This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:28) Intel's Historical Success and Current Challenges (00:08:22) The Paradigm Shift in Technology (00:11:44) AI and the Future of Semiconductors (00:19:02) Political and Economic Considerations in Chip Manufacturing (00:29:28) Investment Perspectives and Market Dynamics (00:45:46) The Mobile Paradigm Shift: Apple vs. AT&T (00:46:49) Corporate Strategies in the AI Transition (00:48:02) NVIDIA's Dominance and Potential Vulnerabilities (00:51:27) The Future of Edge AI (00:57:02) Powering the Data Centers of Tomorrow (00:59:42) The Semiconductor Startup Ecosystem (01:05:08) The Role of Government and Global Dynamics (01:07:28) Investment Strategies and Market Dynamics (01:10:57) The Future of the Semiconductor Industry (01:25:52) The Kindest Thing Anyone Has Ever Done For Chris And Andrew

Transcript

Click on a timestamp to play from that location

0:00.0	Two fun facts about our newest sponsorship partner, Ramp. First, they are the fastest growing
0:05.2	fintech company in history, reaching a level of revenue in five years that I can't quote exactly,
0:09.9	but is eyebrow raising. Second, they are backed by more of my favorite past guests, at least
0:14.9	16 of them when I counted, than probably any other company that I'm aware of, a list that includes
0:19.6	Ravi Gupta, Sequoia,
0:21.0	Josh Kushner, at Thrive, Keith Rabe, at Founders Fund, and Coastal Ventures, Patrick and John Collison,
0:25.5	Michael Ovitz, Brad Gersner, the list goes on and on. These facts demand the question,
0:29.8	why? Having been personally obsessed with the great businesses through history, one clear lesson
0:34.2	is that the best of them are run by disciplined operators. These operators manage
0:38.2	costs with incredible detail and they are constantly thinking about how they can reinvest every
0:42.6	dollar and every hour back into their business. This is RAMP's mission to help companies
0:46.7	manage their spend in a way that reduces expenses and frees up time for teams to work on more
0:51.4	valuable projects. First, on expenses, the average American business has a
0:55.5	profit margin of 7.7%. This means saving 1% on costs is the equivalent of making 13% more revenue.
1:02.8	The average ramp customer is able to save 5% on their expenses each year. Of course, every entrepreneur
1:08.2	is looking for ways to grow revenue by 50%. They should just as seriously seek to save 5% on their expenses.
1:14.2	Second, on time.
1:15.6	Unnecessary complexity is why most finance teams spend 80% of their time doing operational
1:20.4	work and only about 20% of their time on strategic work.
1:24.2	Ramp makes spend management very simple by handling your company's expenses, travel,
1:28.1	bill payments, vendor relationships, and even accounting. It's notable that some of the best in
1:32.8	class businesses today, companies like Airbnb, Anderl and Shopify, and investors like Sequoia Capital
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Colossus, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Colossus and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.