Invest Like the Best with Patrick O’Shaughnessy
Business:Investing
My guest today is Des Traynor. Des is the co-founder and Chief Strategy Officer of Intercom - a customer service solution that helps businesses answer product questions, offer instant support, and automate sales. The business was founded in 2011 and its products operate within 25,000 businesses, including the likes of Amazon, Lyft and Atlassian. Our conversation is roughly split in half. First, we talk about AI and how it’s actually changing businesses like Intercom through products such as their OpenAI powered bot called Fin. We then talk about Des’s views as an investor, which includes an answer about software that I’ll remember for a long time. Please enjoy my conversation with Des Traynor.
Listen to Founders Podcast
Founders Episode 311: James Cameron
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
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Show Notes
(00:03:42) - (First question) - Des's high level thoughts on Open AI and new technology
(00:07:07) - Advanced AI tech for existing businesses versus start-ups ventures
(00:11:14) - Where Intercom falls on the spectrum of existing and new AI technology
(00:13:16) - Training AI to be tailored to specific fields of work
(00:18:25) - The natural end point is for Intercom incorporating AI
(00:22:25) - Des's product philosophy behind this technology
(00:24:03) - Choosing an AI provider that best suited his customer service industry needs
(00:26:55) - The value comparison between using AI-led customer service versus human
(00:29:18) - Why outsourcing automated data is not for everyone
(00:31:15) - Des's advice for other companies beginning to integrate AI into their operations
(00:36:33) - What he is excited for as an investor in this area
(00:37:50) - The most common discussions he’s having about this technology
(00:41:21) - The inherent risks of using AI models that are not 100% accurate
(00:45:10) - Des's evolution as an investor
(00:48:25) - How Intercom solved it’s AI execution problems
(00:50:46) - Combating other companies that are trying to overtake the field
(00:53:44) - Counter arguments for using AI technology
(00:57:22) - His view on the best software out there
(01:03:00) - The kindest thing anyone has ever done for him
John Harris - Resilience and Imagination - [Invest Like the Best, EP. 230]
Florian Hagenbuch and Mate Pencz - Everything Will Be Bought Online – [Founder’s Field Guide, EP. 37]
Gabriel Leydon - Designing Digital Economies - [Invest Like the Best, EP. 229]
Assaf Wand - Innovation in Static Industries – [Founder’s Field Guide, EP. 36]
Dennis Lynch - Delivering Alpha in Adapting Markets - [Invest Like the Best, EP. 228]
Henrique Dubugras - Building the Financial Center of Gravity – [Founder’s Field Guide, EP. 35]
Justin Fishner-Wolfson - Secondary Investing in Private Markets - [Invest Like the Best, EP. 227]
Peter Reinhardt - Learning How to Sell – [Founder’s Field Guide, EP. 34]
Brent Beshore - Learnings from a Year of Unexpected Events - [Invest Like the Best, EP. 226]
Jeremy Cai - Manufacturer to Customer – [Founder’s Field Guide, EP. 33]
Eli Dourado - Frontiers for Productivity - [Invest Like the Best, EP. 225]
James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32]
Andrew Sugrue - Investing in Paradigm Shifts - [Invest Like the Best, EP. 224]
Alyssa Ravasio - Supply, Demand, and the Outdoors - [Founder’s Field Guide, EP. 31]
Josh Buckley - Identifying Legendary Start-ups - [Invest Like the Best, EP. 223]
Thomas Tull - New Physics of Business - [Founder’s Field Guide, EP. 30]
Paul Enright - The Buy Side Primer - [Invest Like the Best, EP. 222]
Trevor McFedries - Building Web 3.0 - [Founder’s Field Guide, EP. 29]
Chris Dixon - The Potential of Blockchain Technology - [Invest Like the Best, EP. 221]
Shopify: The E-commerce On-Ramp - [Business Breakdowns, EP. 01]
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