Product cycles run 10-15 years—and AI's cycle is still just beginning. In this conversation with a16z's David George and Jen Kha on the state of markets, they cover: - Why December 2024 was the inflection point for coding - Why "there are no dark GPUs" - How AI revenue is growing faster than 100% year-over-year - Why OpenAI and Anthropic added nearly half the revenue of the entire public software industry in one year ...and more. 00:00 Introduction 02:25 2025 revenue data: 693% growth and…