FULL STACK STARTUPS

Summary from the TLDR Founders newsletter

YC wants founders to build "Full-stack AI Companies." These aren't startups selling AI tools to law firms - they're actual law firms using AI instead of lawyers. The math is simple. You could sell AI to existing accounting firms, or just start your own AI-powered accounting firm. Growth is slower than pure software, but margins are way better than traditional services. An accounting firm typically gets low exit multiples, but what about one using AI? The lines between VC and PE are starting to blur. Venture has always chased new tech, but now we're seeing money flow toward upgrading existing industries with AI.