David Weisburd asked why most data isn't reachable by large language models. Coyne, a seed investor, says the next wave of AI value will come from companies that earn access to proprietary enterprise data.
…price per mile, what type of seat across different organizations, you can then bring that to bear within large high willingness to pay customers. And so I think it's A, looking at their own historical data, but B, gleaning a lot of model insights across thousands of other potential opportunities.
This connects to what we were talking to a couple of weeks ago, which is you said that the vast majority of data is not accessible to LLMs. Why is that?
One of our favorite stats, and it actually came through an enterprise that we work very closely with, which is that about 80% or more of the world's data is behind firewalls. LLMs have done an absolutely heroic job, right? Going from infantile phase a few years ago to in the pockets of almost every American and around the world. So would never speak ill of what they've accomplished, but they've accomplished it with the publicly available data, similar to how Google crawls the public web. To get a lens into private data, you have to earn customer trust. You have to bring unique insights. And oftentimes you need a subject matter expert to be able to have the trust and expertise to enter a market like airlines or banking or insurance. When we see companies that are starting to unlock those types of value, they get access in a highly secure way to proprietary behind the firewall data, the 80%. When they do that, they can start to produce new insights for the company and for the…
You made a very important but subtle point, which is the reason 80% of the data is behind the enterprise firewalls is because it comes from the customer. And in order to get that customer data, you must provide a good product. So everything is still downstream of having great product. The…
Enterprise software that is creating workflows that unlock new data feels like the oil rig company pulling new oil out of the ground for enterprise. And what we're seeing from inside the enterprise. So one of my favorite ones to talk about is Inspiron, which is a portfolio company just closed $170…
Logistics, essentially.