Today marks @thatch_ai's 5 year anniversary. 5 years in, here are the 5 lessons I keep coming back to:
1. The right team matters infinitely more than the right idea.
2. Separate your ego from your hypothesis, and you’ll value “getting it right” over “being right.”
3. A great culture is simultaneously intense, reasonable, and kind.
4. A powerful mission changes you before it changes the world.
5. Integrity is always the correct business decision in the fullness of time.
Last week, we raised $108M to build a healthcare system people love.
Today, we’re sharing why.
We believe people should have more choice in how their healthcare dollars are spent. We call this awakening the Health Consumer. https://t.co/3QdVhiB2EW
Today, we're announcing @thatch_ai raised a $108M Series C at a $1B valuation from @thegp, @IndexVentures, @generalcatalyst, @a16z.
The idea we're betting on: healthcare serves whoever controls the dollar. For 80 years that's been the employer. We think it should be you.
Employers typically choose one health plan for everyone. We think there's a better model: give people a health budget and let them choose the insurance and care that fits their life. That is the idea behind Thatch.
ARR has grown nearly 7x in the last twelve months, and more than 5,000 employers now use Thatch. None of this happens without our team, or without the employers who believe that their people know what their families need better than they ever could.
We're building a healthcare system people love by changing how we fund it.
Once a year, for about ten minutes, the sun drops to the exact angle in Yosemite where its light hits this waterfall head-on.
The rock behind it is nearly black, the water is thin enough to glow, and for a few minutes it looks like molten lava pouring off the cliff. 🔥
Miss the window by a day, or get one cloud in the wrong place, and it doesn't happen at all. People wait years for this.
I’m very pro AI, but this is the right take.
If it has the potential to destroy everything and, at the same time, improve everything we need an international framework and legislation to protect all of us. We can’t wing this.
If there really is a high chance of AI leading to the extinction of humanity within years/decades, then the only rational stance towards safety monitoring and research pacing should be stringent, top-down government involvement and universally ratified international treaties. Similar to what we have been doing for a long time with nuclear energy and nuclear weapons non-proliferation.
If that's not what we're doing, then we must infer that the risk isn't being seriously considered by anyone involved.
There are only two options that make sense here:
1. The near-term species extinction risk is real and we are taking it seriously, with maximally heavy-handed regulation.
2. The extinction risk isn't real, actual risks are mild, so we're only pursuing mild safety measures and self-certification.
But you cannot say "yes this is likely to end humanity in your lifetime, and we're going to completely wing it." That is simply not rational.