NAVAN'S IPO IS PARTIALLY AI-PREDICTED

Summary from the TLDR Founders newsletter

Navan, formerly TripActions, is going public at a $6.9 billion valuation, well below its private-market peak. Half its customer support is now handled by an AI agent named Ava, pushing gross margins from 60 to 72 percent. The company's numbers show what investors want to see: efficiency through automation.