Why Coatue invested in both Snowflake and Databricks before they competed

you are going to end up in assets that compete because they naturally expand TAMs. A great example of this is I think we were the only private investor that was invested in Snowflake and Databricks when they were both private. They started off in completely different areas. Databricks didn't have a data warehousing product, and Snowflake didn't really do a lot of ELT. It was mostly built around the ecosystem. They grew together, and they we weren't invested when they were starting to compete because Snowflake went public a lot earlier. But at the same time, that happens in big markets. It's so funny. You said that you eat the enterprise value, I think 65%

is done by four companies or created by four companies. I tweeted not too long ago that basically, unless you're an anthropic open AI, curse a lovable open evidence,