哈里·斯特宾斯@HarryStebbings
· 2026-04-24 01:48
哈里·斯特宾斯
@HarryStebbings · Harry Stebbings · 0 followers
Cursor 600 亿美元的交易是否合理：「当你审视双方各缺什么时，这实际上是合理的。一方拥有爆炸性收入，但由于……利润率较薄……」
6今日信号
🔥 Cursor 600 亿收购传闻
1 条最高 7.8
📘 创业哲学
4 条最高 7.4
哈里·斯特宾斯@HarryStebbings
· 2026-05-02 23:12
"4 亿美元 ARR、30% 增速过去曾是优秀。但在今天的市场已经不够了。门槛高多了，你需要走在通往 10 亿美元以上、40% 增速的路上……"
对你意味着
观点VC 对增长的期望已系统性上移。如果你在准备融资，$400M ARR + 30% 增速曾经的 A 档，现在可能只算 B 档。AI 驱动的产品若不能展示非线性增长斜率，线性叙事会被折价。核心问题不是你现在多少，而是斜率够不够陡。
"$400M ARR growing 30% used to be great. It is not anymore. In today’s market, the bar is much higher, you need to be on a path to $1B+ growing 40% t...
哈里·斯特宾斯@HarryStebbings
· 2026-04-28 09:24
哈里·斯特宾斯
@HarryStebbings · Harry Stebbings · 0 followers
L2
战略洞察
上市公司CEO
🎙 播客
关于上市公司 CEO，所有人都应该知道却无人谈及的事：另一个人们容易忽视的点是，一家公司的 CEO 的工作是……
创业 CEO 和上市公司 CEO 的职责模型存在根本差异，许多创始人上市后因角色认知错位而陷入困境。这段引言暗示 CEO 有一项关键职能被长期低估——值得在规模化前提前构建认知框架。
观点
What No One Knows That Everyone Should Know About Being CEO of a Public Company: "The other thing that people miss is that the CEO's job in a company,...
哈里·斯特宾斯@HarryStebbings
· 2026-06-17 23:02
"从 @elonmusk 身上最值得学习的一点，是他始终将精力聚焦在瓶颈上的能力。无论周围发生多少事，他似乎总能..."
对你意味着，AI 竞争加速的今天，创始人最容易被功能迭代、竞品压力和融资动作拉散注意力。
观点Stebbings 提炼的"瓶颈聚焦"本质是约束式战略——优先识别当下最大制约因子，以非对称资源投入打通，而非平均分配精力。这不是 Elon 专属方法，而是所有高执行力创始人的共同底层逻辑。
观点
"The biggest thing I'd take from @elonmusk is his ability to focus relentlessly on the bottleneck. No matter how much is happening around him, he seem...
哈里·斯特宾斯@HarryStebbings
· 2026-04-24 00:53
在当下做价值投资是一种代价高昂的追求。做动量投资则要容易得多，这是确定的。
对你意味着
观点当前资本市场普遍追涨，若你在融资，投资人更看重增长曲线和势能，而非基本面价值。价值投资者退潮意味着市场对故事和动量的溢价更高，CEO 在融资叙事上需更强调增长信号，而非利润或保守路径。
It is a very expensive desire to be a value investor today. It is much easier to be a momentum investor, that is for sure.
📘 模型公司战略
1 条最高 6.2
哈里·斯特宾斯@HarryStebbings
· 2026-05-03 04:11
「我们正在进入一个世界：少数几个大赢家将驱动所有回报，小部分公司将产生大多数成果……」（原文截断）
对你意味着
观点Stebbings 描述的是「winner-takes-most」的 AI 时代格局。
事实2023-2025 年 AI 相关融资高度集中在少数公司。对于构建 AI 公司的 CEO，这意味着：「足够好」的定位不再安全，需要在某个细分领域建立不可替代的位置，否则会被规模更大的综合性平台边缘化。速度、清晰的差异化和极致的用户聚焦是生存条件，不是加分项。
"We are moving to a world where a handful of massive winners drive all the returns. A small number of companies will generate the majority of outcomes...
尚未被主编选入事件/主题的原始推文（共 50 条，按时间倒序）
哈里·斯特宾斯 @HarryStebbings06-17 09:01
"Agents won't kill advertising, they'll split the internet into objective and subjective decisions. For objective choices, like finding the cheapest f...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-17 07:22
"The future of software development isn't engineers building software, it's engineers building the factories that build software. Just as Tesla engine...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-17 06:03
"The best organizations won't manage token budgets manually. Instead, they'll rely on orchestration layers that automatically route workloads to the r...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-17 03:06
"To stay competitive in AI, America needs to take physical infrastructure seriously. That means building more data centers, expanding power capacity, ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-17 00:27
"Export controls have probably helped in the short term by preserving a gap between frontier AI labs and open-source competitors. But the long-term ef...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-16 21:31
At this stage, I think it is undeniable that Revolut will be a $500BN company. (I do not say that lightly). They are a compound startup. They try 20 n...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-16 07:26
"The best engineers in an AI world won't just ship features, they'll own outcomes. They'll understand customers, influence product adoption, and work ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-15 09:05
Should we be worried about labour displacement at the hands of AI? "Short term, yes. Long term, no. In the near term, AI is creating real disruption, ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-15 06:55
When I was a kid I hated Sunday night; another week of school loomed. Ever since I started 20VC, Sunday night has been my favourite. The start of a ne...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-15 06:01
"Consumers are better served when the model provider and the application provider are separate. If the same company owns both, it has an incentive to ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-15 02:07
"Everyone gets FDEs wrong. The job of an FDE isn't to make the product work, it's to accelerate customer adoption and time-to-value. If you need FDEs ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-14 23:05
"We spent $3,000 on an Eight Sleep for every employee because we optimize for output, not cost. When you're building a team of exceptional people, eve...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-14 09:05
"The problem with grind culture is that it focuses on intermediate metrics instead of outcomes. Measuring success by hours worked is like deciding a b...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-14 06:02
"Dario's messaging around AI-driven job loss has done real damage. By framing AI as a force that could eliminate vast swathes of human work, it fuels ...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-14 02:14
"So @ivankatrump is one of those rare investors who adds far more than capital. She combines an exceptional network with genuine generosity, helping f...
🔗 原推哈里·斯特宾斯 @HarryStebbings06-14 00:16
Call me grumpy or jaded but I really only want to work with founders where what they are working on is their life mission.
🔗 原推哈里·斯特宾斯 @HarryStebbings06-13 23:21
Buy versus build: what are your lessons? "Just because you can build something doesn't mean you should. The best companies are ruthless about focusing...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-18 06:39
What the founder of Duolingo taught me about sacrifice "He has that line in the S-1, the only thing you need to know is that I’m dedicating my life t...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-18 04:03
What Founder Mode Truly Means "Founder mode is about tours of duty; going to the most important thing and what’s on fire inside the company. You just...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-18 01:36
Biggest lesson from Jensen Huang at Nvidia "Jensen called me at midnight to unpack a challenge, his SLAs are insane, he responds that fast. The lesson...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-17 23:12
Why OpenAI and Anthropic doing consulting businesses is such an obvious and right move "When you see OpenAI and Anthropic deploying engineers into ent...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-17 08:49
How do you know as a startup if the foundation models are going to kill you or help you "If you are fighting against the foundation models, you’ve al...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-17 06:00
The three variants of an AI native company "There is 3 variants of AI native companies: post-transformer pre-LLM, post-LLM pre-agent, and post-agent. ...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-17 03:32
Did USV liking music make them billions of dollars? "Our Seed was $5M on a $15M pre, not the world we live in right now, but it made sense then. There...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-17 01:01
You just have to survive long enough to not die "You have to have a true north, a thesis about the market that you know is going to come true, even if...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-16 07:42
One of my biggest lessons from managing new team members: Be effusive with giving praise. People respond to feeling appreciated. It makes them feel go...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 23:09
Being an SDR is one of the best jobs ever if you want to gain empathy, resilience and creativity. You get punched in the face a lot. No one wants to b...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 22:51
Of all new media, Tara is the most exciting talent in the business. Authentic, genuine and one of the most incredible energy humans I have ever encoun...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 10:47
Token Maxing vs. The 100x Engineer "We don’t need as many tokens as we think. People are running Claude Code and Codex 8 to 10 hours a day, but it’s...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 09:03
The Venture Capital Investment of the Decade: Cerebras "Foundation (@vassallo) did real venture, not just capital deployment. They found the founder e...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 05:31
What founders have to understand is that to win you have to mentally be changed forever. "Building a company changes you permanently. It is not someth...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-15 02:36
The "Enemy of My Enemy" Infrastructure Play "Markets are consolidating around the leaders like OpenAI and Anthropic. If you cannot compete at the fron...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-13 19:40
I have one simple rule when I invest in a company. Post investment, I work for the founder and the company. Whatever they need, I work for them. When ...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-02 09:04
"Early-stage venture is shifting to fewer but much bigger winners. Most companies will taper out or have modest outcomes, while a small number go on t...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-02 03:59
The two great wars that no one is talking about. "There are two big forces playing out beneath everything. One is the geopolitical race, especially be...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-01 23:02
Why Google is a mega-buy on the back of the Anthropic investment "Google becomes a win on multiple fronts. They benefit whether usage goes to Gemini o...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-01 18:53
I am sorry but work from home Friday is a 4-day work week. Even worse when the Friday is a sunny Friday. Back to the office. 996.
🔗 原推哈里·斯特宾斯 @HarryStebbings05-01 08:55
Why Dario at Anthropic has such a hard job predicting compute demands? "The stakes are enormous and the margin for error is tiny. For every dollar of ...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-01 04:39
Multi-year contracts don't matter. "Deferred churn is still churn, it just shows up later. Long contracts do not mean customers are loyal, they just d...
🔗 原推哈里·斯特宾斯 @HarryStebbings05-01 01:35
What the public markets are getting wrong about the SaaS-pocalypse "The public markets are directionally right, but missing the real shift. The threat...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 11:01
"Being physically present is not the same as being mentally present. That is the real challenge, balancing a demanding company with truly showing up f...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 09:07
"Token budgeting and leaderboards are flawed if they are not tied to outcomes. If you just incentivise usage, people will generate activity, not value...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 07:17
"Most people are not ready for the AI future inside companies. It requires a real step change in skills and mindset. And as companies transition, not ...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 05:39
"The problem with short sellers is the asymmetry. They can take positions, publish dramatic reports and profit from market reactions with little downs...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 04:46
A lot of people say they want to win, but the honest truth is they don’t. Wanting to win is it consuming you. It being an obsession. It keeping you u...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 03:46
"Really good people figure things out on their own. They do not need constant mentorship, reviews or handholding. If someone needs that level of suppo...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-30 01:36
Why this $160 billion company does not have a product organization? "We do not have a separate product organization, our engineers are the product man...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-29 23:04
Do Rich Founders Make For Bigger Exits: "In 2015, we got approached to sell the business for hundreds of millions of dollars, all cash. Had I not had ...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-29 09:24
"SBC becomes a problem when stock prices fall and dilution explodes. What was 3% annual dilution can quickly become 10%, creating a downward spiral th...
🔗 原推哈里·斯特宾斯 @HarryStebbings04-29 08:05
"No, layoffs alone will not fix the problem. If a company has become bloated, simply cutting 50% often just leaves you with half the same mediocrity. ...
🔗 原推
生成于 2026-08-06 10:24（北京时间）· v0.2 CEO 战略情报版