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Marcus Graham has deployed over five hundred million dollars across early-stage software companies over the past fifteen years. In this candid interview, Graham dissects the current valuation climate and warns founders against building thin API layers on top of third-party foundation models.
The Illusion of Shallow AI Wrappers
"If your software value proposition can be replicated by a foundation model update over a weekend, you don't have a startup; you have an ephemeral feature."
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