📶 where the puck is going

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Good morning 👋

Happy Friday. What a week.

Here’s what you missed if you’re just tuning in:

• The operator-turned-investor movement, the evolution of engineering roles, and how GTM is changing in 2025 according to Ashley Smith (GP @ Vermilion Cliffs) (link)

• What happens to SaaS as AI continues to eat away at core workflows? (link)

• Data on how many LPs it takes to close different sized funds (link)

• GC is eyeing an IPO (link)

• Why megafunds are becoming LPs into the next era of fund managers (link)

Yesterday, Jeremy Giffon hopped on the TB pod and gave his thoughts on where venture is headed.

When Jeremy talks, we listen, and that’s what we’re covering today.

Today’s highlights

• Jeremy Giffon’s thoughts on the future

• The illusion of choice

• A quarter of YC is using AI-generated codebases

• Foundation’s latest fundraise announcement