Deedy Das on the Anthology Fund, competing with AI labs, and why missionaries beat mercenaries in venture

let's bring in DD. Hey, how you doing? What's going on? Hey guys, how's it going? Great to have you on the show finally. I feel like we've reacted to almost every one of your posts. You're very, very helpful in terms of uh contextualizing and just like summarizing everything that's going on, giving breakdowns.

It's uh really helped the show honestly. So, thanks for being here. Totally. Thank you for being a big big fan of the show. I've seen all of your episodes, I think. So, you guys are great. You guys are great. I'm so happy for what you guys are doing. Thanks, man. I I really appreciate that. And did you join allin?

What what's this in the background? Are you Oh, yeah. This this message has really been overloaded since the podcast, but no, that's just our our venture uh message. I mean, this is what Melo uh Melo's slogan. You were using that slogan before 2020? It was. It was. No way. They They mogged you.

They stole your They stole your line. They just steamrolled you. This has happened a few times. Uh uh what what was it? Oh, Gemini. Uh I thought I I thought of it for years as the Winklevossbacked crypto trading app exchange. Now Google comes out and they're like, we'd like that brand actually over here.

And so now Gemini I think of as the Google product. They went from Bard. Yep. They had they barred it up. No one was No one was competing for Bard. Bard was clean space, but uh but they had to go Gemini and so good luck to the Winkle Moss twins.

Uh anyway, uh why why don't you kick us off with like a little bit of background and kind of uh what you do just to kind of get everyone familiar. Absolutely. Well, my my background I'm in venture now, but my background has been somewhat nontraditional for venture.

I spent most of my career as an engineer and a product person. So, four years. If you say if you say non-traditional, I expect I expect Warlord. I'd expect Blackwater. uh a kite surfer or like someone who's like wing surfing or rock climbing.

I actually thought I actually thought you were joking for a second cuz I thought you were going to say my you know non-traditional background adventure. I went to HBS. I was a product manager. Um you know I just found my way. We're not letting you get away with that.

You would be hardressed to find an actual person who's done engineering at a big company and and a startup from the very beginning. Not like a strategy and ops role for two years in venture. I actually don't know that many people like that. I do know it's been a meme though. You were in the trenches.

You were in the trenches. You were in the technology trenches. Okay. Okay. We'll give it to you. Yeah. Okay. So, yeah. Uh how do you how did you land at Menllo? Were you doing in uh were you doing investing before angel investing? What did that look like? No, I actually had no business being in venture.

I never wanted to be in venture. Uh I wanted to build stuff.

Uh after Glean, I thought, you know, I was exploring building something new and then I was talking to a bunch of these venture firms just get the get their thoughts on it and and I was kind of roped in and I thought, hey, it's kind of strange that there's not as many people who are technical and really care about engineering stuff in venture and it would be nice to have that because whenever I would speak to people, they'd be like, "Look, man, like I don't really understand this technical stuff, but is this a big market?

" you know, like is this going to actually work as an idea? And that's kind of the ethos of why I wanted to join a venture firm in the first place. Like like I think it'd be valuable for technical people to talk to other people who really care and nerd out about the actual idea.

So been doing that for a year and a half and it's been it's been more fun than you think. You know, venture has a lot of uh connotations on what the job involves, whether it's a sexy job or not. And uh I don't know, it's just very different for very different people. I'd like to believe.

What's been your strategy the last year and a half? Has it been trying to find and lead deals yourself, support a mix of both? What what is the what is write a check, fire the CEO, take over? Fortunately, no. Everyone's founder friendly now. You got to differentiate by being unfriendly. Yeah, very founder unfriendly.

If you're if you're non-technical, then you're going to have problems. No, I'm kidding. Um, no, there's two things we do. I I have led deals and and also co-led deals with some of my partners here. We've done about four.

Three of them are announced, one is not in terms of series A's, but mostly like I got brought in to help lead the Anthology Fund, which is our uh $100 million fund with Anthropic. And that's been a lot of fun because it gives you a lot of leeway on the kind of deal structures that you can have.

Um, not your traditional like, hey, high ownership necessarily, series A's and B's and C's. It's more early, more hey, how do we help the ecosystem? How do we just get into ideas? Um, very very early and just meet founders.

So, you don't have a two-week process where you're trying to fall in love with the founder for the first time. So, interesting. Yeah.

The other the other thing I'm I'm sure it's been massively helpful because one of one of the challenges if you go from operating and then you join a fund and you can you're only able to do a few deals a year, it's like how do you build up that those the frameworks?

How do you really learn the craft of investing and learn what not to do? And cool.

I I I think one of the one of um you know there there's plenty of stories in the valley of people that uh our friend Justin Mayers I think like his first two companies he ever in angel invested in were were unicorns and there's a bunch of other stories like that.

From my personal experience that like the the average deal that I've done has just gotten better and better across the 60 plus companies that I've invested in.

And so that that that can be a really big challenge if you're thrown into a big firm, you're having to write make big investments and you're only able to exercise the actual check writing a couple times a year. Um how how is it how's the anthology fund going?

Are you are you guys um you you you must well specifically I want to talk about uh you said like non-traditional deal structures and when I think of that I think uh you can come to someone with say hey we'll do a $10 million series A but we'll also give you $10 million in credits.

We've seen Nvidia do some of these deals. We've seen obviously the Microsoft or the Microsoft Open AI deal was kind of structured as some sort of cloud credits and all this different stuff and that can be really valuable. Is that what we're talking about here? Or is there something else?

Or are cloud credits even relevant in like traditional deal structures these days for AI companies that are building on top of foundation models? We do we do offer a bunch of cloud credits and we go up to like 30 to 100K in cloud credits. I honestly don't think that's the main draw.

It's like a nice to have for these early companies. All these good companies can figure out how to get credits or how to spend money on this.

I think what's more interesting is you know even when I was like angel investing prior to being in venture that's a different art like it's much easier to get into deals as you guys probably know when you're angel investing because you just know the person you're like hey man I'm going to throw in 10k can I get a 10k allocation they're like yeah you seem like a good guy you can be helpful here's here's a the bar is just so much lower the bar is very low and then you then you go to a venture firm and the same companies and you tell them hey I want to lead you around and they're like good luck buddy like here's the line gets to the back of it.

Um, so that's that's what becomes really challenging. But to the the the question of anthology specifically, I think probably the biggest draw from what the founders tell us is, hey, we just love to know what the labs are up to, how to work with them, how to plan for the future, because we have no visibility into that.

And for us, it really helps because you can fi form a relationship with people and actually figure out, hey, you're an awesome founder and I don't know that because you've more than just the three-week process that you've pitched to me. I know that for a good six to eight months now.

So, we, you know, we've deployed about 30 odd checks to Anthology. I would say in the beginning it was a little bit of calibration needed to figure out, hey, what was the right kind of company? Um, and we don't only do early, we do some like midstage companies that are interesting to us for a future round as well.

And but two of them have graduated into full series A leads. So that's, you know, what was was our success metric going in, which is are these actually good deals that will graduate to real ownership checks or not? And so we had Goodfire and then Open Router sort of be those companies that graduated.

Very, very different companies. Fantastic.

We had we had Alex on from Open Router and neither of us I guess realized that they were announcing like this massive series B or you know so we had him on for like a full 15 minutes on the day my batch so I know his I I I know about open C and I know how good open router is but I didn't realize it was like somehow the news got lost that it was like oh wow it's like a massive massive fundraising day.

Um I'm interested to know more about uh corporations or or large scaleups partnering with venture firms. We've seen a bunch of different uh I mean going back to like the Slack fund.

I remember Slack was investing in startups and there's this question of like uh for a lot of founders it can be fun to have uh you know on balance sheet investment vehicle. Um a lot of founders have are scouts at VC firms or they invest off their own balance sheet.

Um, why would a big company come to Menllo to do the fund like all the It seems like you're offering like a lot of the work. Um, and and is that the right model? Like should we see more of that versus the fully in-house effort that's staffed? I think Stripe's done some stuff in-house. Perplexity has a FUD now.

And I'm wondering if you have an opinion on like best practices or what works or what doesn't or when something would work on balance sheet or directly within the org versus outside. I think it's just opinions on that.

Yeah, I think I mean personal opinion is you need you need a fortress balance sheet and you probably should be like a public company to be making balance sheet investments purely because of the duration. You mean like Google Ventures?

If you if you lead a or participate in a series A and then don't don't see a return, you're you're not going to see a return from that for maybe a decade or I mean Bloomberg Beta has some other stuff like that. There's just so many fascinating different different uh like paths to it.

And then it also is this like I like this from anthropic because it's like hey this is noncore to what we're doing but it's important to the ecosystem we're building. Let's make it so that it's not our job to deploy this capital, but we still get a lot of the benefits.

So, so yeah, I mean, give us your take on I I think of look you we did a lot of analysis on what a corporate fund structures look like and what kind of investments they do in the past and these are all gross generalizations, but generally if you run a corporate fund a you're not compensated on carry really.

So the incentives are not really aligned to deliver returns. The incentives are pure ecosystem bets. So, if you look at a bunch of the investments that the Slack fund have made, like yeah, they're Slack apps, a lot of them. Um, and that's good for the ecosystem, but are they real companies? Are they real businesses?

A lot of them aren't. And when the more you look at corporate venture, like they don't spend a whole bunch of time out on the road sourcing really like, you know, balls to the walls going to all of these people and trying to figure out what the good companies are.

The reason we wanted this structure was a so we didn't have that incentive problem. We could focus on real returns while also investing in companies that benefit the ecosystem but not purely that.

So a lot of the anthology companies they don't even necessarily only use anthropic or use anthropic at all or necessarily even call LLMs. They are generally companies that are beneficial for the AI ecosystem. That's one.

And then number two, I think the the the bigger thing is most companies have no business running a venture firm. This is just not like you said, it's not their core business. It's not their forte. It's not what they do. It's not something they care about.

So, it's really nice where you're like, "Okay, you guys care about it. We care about the ecosystem benefits. Why don't you help us run this fund? " Um, and then it works for everybody. And I think the one exception case to that is probably OpenAI.

OpenAI startup fund has done very well, but you know, not in not in small part due to Sam being Yeah, Sam's kind of a good player. So, potentially a generational VC if he was doing that full-time. Um, yeah. Yeah. What about the competitive dynamic?

Like uh like would GV I mean Google Ventures has kind of spun out so much but like it would be it'd be crazy to think about like GV investing in Perplexity or Bloomberg Beta investing in Perplexity even if it's not actually that much of a threat and they're and the and the CEO is confident like hey I'm not going to get disrupted by this.

It's like you have a portfolio CEO who's out there tweeting every single day like I'm coming for you Bloomberg. Let's look at how much money they make. I'm going to disrupt you. like that just might be like awkward.

And so has there been any dynamic around that where you where you have like either a mandate to like hey let's stay away from pre- from companies that do pre-training because that's on anthropics roadmap or like even with the cloud code cursor thing like you want to stay away from coding agents because uh anthropics really really really pro that like how do you think about like you want to be close enough that there's a benefit but not too close where your competitors is that is that a real dynamic or how do you think about that?

It it very rarely has happened. I mean, Daario is actually exceptionally uh missionary. I mean, I I don't know how else to say it. Like, he really does care about what these companies are doing. I mean, look at Goodfire. Like, they have an interpretability lab. They're like, "Look, another one is good for the world.

We'll we'll do it. " Um, so there have been certain cases where companies, you know, some of them haven't been announced yet, but one of these companies has alternate approaches to doing a bunch of different model stuff. Uh, and uh, we asked Dario, we're like, "Hey, is this bad? like are you okay with this?

And he's like completely cool with it. I if it's not something that we have a very strong bet on that they're going extremely headon and have a bunch of capital to go head on right now. It's just not something we'd care about. So we do try to tread carefully.

Obviously you don't want to um bite that hand, but it's not been an issue at all so far. We've we've never run into a conflict. How are you broadly advising companies that are working with labs but also fear that they might end up competing with them at the product layer uh over time?

And I know I know you were at Glean, the founding team there and that that feels like something that in the long run obviously um you know uh someone like an open AI might might want to compete there. So I'm curious how how you think about that dynamic.

I mean, I think the reality is look, like it's a free market and competition is going to happen one way or the other.

Whether or not anthropic backs or Anthology backs you and then and anthropic decides to compete at a future point, I don't think anybody I'm not even talking I'm not talking about anthology as much as just generally, you know, port portfolio companies.

Let's say you're doing, you know, codegen or something like that and and you're working with a lab and um you know, we had Sarah Guo was on the show probably a month and a half ago at this point talking about like it's not impossible to figure out what's important to each of the labs and and the things that they might do over time and you should as a founder be under you should be well aware but that what you're doing might be on on the path at some point.

Yeah, I think that's a it's a question we get all the time and I think the reality is I my guidance usually has been and and this was how we thought about it at Glean too is what is something that is a pie that is very valuable to you but not at the scale that it's valuable to any of these big companies until it is.

You know like you really the bet you're making is hey this pie is maybe $50 million in revenue and nobody no big company will care about that. But once you capture that pie, it's actually way bigger than that. And if you do, then you can you can reach breakout escape velocity before anybody else is at at your heels.

And hopefully you've built up enough of a you know, no, I I hesitate to say moat, but you've built enough tech that it's not easy to replicate overnight. And if you have a little bit of that, there are odds that you could have a breakout business.

And I think today's climate is actually way better than a year or two before cuz the truth is labs have a huge revenue pressure. So they're not going to be investing in in random crap. Like they're going to be investing in stuff where they're like, "Okay, that's a billion dollars in revenue.

That's $500 million in revenue. I'm not going after this $10 million opportunity. " It's just not anthropic anthropic one to four billion run rate in the first half of this year. To to justify a lot more resources, you have to be able to make a dent in that. somehow or show that you can make a dent.

I mean, it's kind of like the Google problem with like but at one order magnitude smaller where like if you're running a business at Google that's making $500 million, it's like okay, time to wrap it up. Let's move on to something bigger. This is not really relevant. And you're like, this could be a public company.

This was actually the entire lean. I don't know if you guys know this, but when started uh Google had Google Cloud Search and the reason we weren't worried about it is because we knew the team there and we're like this doesn't make a dent on cloud.

The fact is like Google Cloud doesn't care about this and uh and now you know sort of they sort of changed their mind and they care about it again. But um that's kind of what the sweet spot. You want to do something boring and seemingly small enough that nobody else cares. Can you uh can you talk to me more about Glean?

Uh there's been some reporting about like the data wars uh this question of what s h how how sharp elbowed will Salesforce be or Google. Um if I'm a business owner, I've you know we just started TBPN as a as a company and it's a it's a green field. So you're like this time I'm gonna get it right.

this time I'll just have I'll just I'll I'll just have one suite of tools that'll all work together and then and then you know 3 weeks later it's like okay I have Slack and Gmail and a bunch of other services and they're not really talking to each other the way I want.

Um and as a as a business owner I'm very strong about like that's my data. you have to let me have my data and not through this export button that takes two weeks to go and I I want an API that I can immediately send over to to OpenAI or Anthropic or Glean.

But the the companies always find a way to kind of like have sharp elbows and we saw this during the during the the rise of Google and Facebook. Uh there was a pitch.

John Patel, the the the the the founder of Wired, was arguing that uh Google, you should be able to go to Google and say, "Give my Google search results to Facebook and Facebook, you should say, give my social graph data to Google just so I get better ads.

" And both companies hated that idea and they would not let you do that. Uh it's a little bit different in the B2B context, but how do you see the data wars playing out?

How do you see uh the the the the the competitive pressure where a lot of the B2B SAS providers also want to offer some sort of enterprise search experience? Well, there's there's a couple ways to look at this.

I think number one is yeah, the reliance on Glean's reliance on just Salesforce is is a small percentage of the the many many connectors we offer and the many many other things that we end up having to integrate with for especially Fortune 500 clients.

they often don't even use a lot of the SAS tools that are household names in in the valley. So, uh the the net impact is is somewhat limited because of that.

But I think the more important point here is the reason why it seems like the reason why people like Salesforce want to cut off connector access is like what you said to sell a competing product. In practice, I think it's actually a pretty synergistic relationship otherwise.

That's why we work together so well for so long because you don't sell less seats because people use Glean.

You actually sell more seats because people use Glean because now there are people who weren't on Slack, weren't on Salesforce who are now discovering that information and going there and then reading the reading the content. So your daily active users actually increase, not decrease. Interesting.

um when they use glean in fact like if you don't have licenses on Salesforce to a certain set of users they don't even see Salesforce results so it's not like you can also sell 10 licenses connect to glean and then have the thousand people in the company view those Salesforce that Salesforce data we don't do that we don't even offer that as an option uh because we want to stay true to the permissions of the source data source so you know netn net I think this is a situation that you know glean will have to work out with all of these partners ers, but I think there's a good out.

I mean, I don't think there's a reason other than them wanting to offer a competitive product that we that they care about this access. Um, and the companies too, like you said, like if you're running TBPN and you want to connect to Glean, you should own your data. You should own your Slack and Salesforce data.

They don't shouldn't own it. So, you have every right to give away that API access, but you know, that's going to be um a conversation that Glean's going to have to have with with a bunch of the partners.

Where are you most excited about agents right now in terms of actual products in market delivering value for customers outside of coding? Okay, so this is the one I talk to all my friends about. It's not like a venture venture thing. It's just really a product I just have fallen in love with in the past week or so.

You guys should all use it. Uh, it's called, uh, and I'm not a paid shill. This is like just me loving a product. Um, it's 19pine. ai. It's super elegantly designed, simple chat interface, your typical stuff. But what it does is it just goes and makes phone calls for you. Um, but can coordinate very interesting things.

So, for example, just just the other day, I was like, man, my my insurance on my car is just way too high. I need to get this down. Can you figure out how to get it down? And it goes and it like these are note phone calls nobody wants to make.

Goes and makes a phone call to my insurance, stays on hold for three hours, and then gets them on the phone, calls Geico, calls State Farm, gets quotes, comes back and goes and negotiates, and then it brings my insurance down. I did nothing. And the payment model is so so nice cuz you don't pay a subscription for this.

You pay a percentage of what you save, which is agreeable to everybody. Um, and so yeah, you would do that deal all day long with like a Yeah. just call this person for me. If you save me like $1,000, like I'll give you like a few hundred bucks, something like that. But yeah, I'm looking. I have the website pulled up.

They got to get a better domain name. This is This is absolutely brutal. What's the domain name? 1919pine. ai. Um, but they can call the IRS for you, cancel your AT&T plan, talk to the DMV, get a refund from an airline. Uh, I'm going to use this.

I literally have an old internet line in our old office that I need to cancel and I can only call during business hours and I just happen to be live on TV during business hours every day. So, I just haven't done it and I'm just getting build for Spectrum every month and it's so annoying.

So, 19 pints coming for you Spectrum, you're on notice. Um, anyway, I want to get your reaction. But but but any any other like this feels awesome as a consumer agent that is solving real problems and they they have the economic model that people have been excited about of like selling selling results.

Um any anything else in the in in the enterprise like sales agents any anything like that that that you're seeing that is actually working? Look there's a bunch of interesting companies and the revenue is inflecting but you know that's just not like it's good like these are good businesses that are working.

I think the things that that excite me more at a more meta level is the the technology powering what agents can do. Um, and like I think the elephant in the room is all of these all of the new custom RL stacks that are helping agents use custom software is actually going to be a huge unlock.

You know, like computer use hasn't really worked yet. It's not a thing that people use, but there is a world where, you know, just like 19 pine, you could genuinely automate the work of people if you give computers access to your computer in a fast way.

And I don't think we've seen that yet because the models aren't capable of doing that. We've seen early versions of that with clawed code, which is, hey, what happens if you take a model and then RL it to be very good at agentic work and call a bunch of tools? Well, 03 is similar.

Um, what if you apply that to very specific domains of like, hey man, like I have a gazillion enterprise SAS apps that I don't even want to use and I don't even know how to use or touch. Figure out how to use them so we can just throw these agents at this stuff that a human was doing.

Cuz a lot of the glue work is still not solved by by agents. Like a lot of the glue work is humans in the loop. Go click this button. Go review this text.

If we want to fully cross the chasm of like 95% of the work to 100% of the work, I think that's super exciting at a meta level and all of these little agent apps um and sometimes big agent apps are are going to benefit from things like that. So that's one of the the broader themes I'm super super excited about.

I want to get your reaction to uh how the AI talent wars are affecting venture specifically. Uh Will Manitis, friend of the show, has a post here. He says, "Citadel's law.

Any any industry with sufficiently high stakes will end up mirroring the culture of hedge funds, massive cash comp for the top performers, bidaway dynamics where entire teams walk together, extreme litigation of non-competes, hard work, 247 culture. " But then he says, he ends with this at the margin.

I think makes the capital environment for funding independent big AI things much worse. not worth underwriting a team if you know they can do R&D on your dollar and then walk in the same way my sense is fund staking terms got worse not better postpod shop.

So he's talking about how in in yeah like like if you are betting on a founder and then they get some massive uh massive aqua hire offer is that going to distort the early stage venture market? Oh, I mean I think like absolutely I've read that post. I love that post. Great great commentary.

I think the thing I would say is this isn't new. I mean there were always startups never paid well, right? Like you're still getting paid like 170 200k on average and you know Google and Facebook are right there to pay you like a 500k salary.

So it's not like it's new that big companies can can you know throw out their wallets and give you more money. Usually, even at at Gleam, we had this policy where we're like, "Look, we're just not going to negotiate somebody who only cares about comp. If we lose that person, that's cuz they're a mercenary.

" And that's okay. We're not judgmental. Just you do what you think is best for you. We really want people as missionary as you can be about like B2B SAS, but we want people who are, you know, more incentivized to do the thing that we're doing here. So, but that does $10 million a year um paychecks affect that 100%.

Thankfully, it's just a few people who are privy to that. But if if there's more of that happening, it becomes a risk. I mean, absolutely.

The one thing that I do the most when I do diligence is aside from the typical venture stuff is I really need to have confidence that this founder no matter what wants to work on this problem for the next 5 years. Mh.

I mean, to the extent that you can get that confidence, that's what I'm looking for, but you can't solve for it. It's definitely worse.

People are always on the spectrum for missionary and mercenary, and if the dollars go up, the spectrum shifts, so there's fewer people who can afford to be missionary if you're getting paid 10 million a year. Yep. Last question from me and then we'll let you go.

Um, do you think the AI talent wars spill over into the rest of the MAG7? Um I'm I you know Mark Zuckerberg is a founder mode CEO with a massive business throwing off billions of dollars in cash.

He took you know he's spending 20 billion dollars on the metaverse was able to slide some of that over put some crazy offers on the table. We we we keep joking that some of these meta AI super intelligence offers are more than Tim Cook's annual salary.

So that might be a culture clash even if Apple says hey we want our own super intelligence team and we've earmarked $5 billion to do it because they could met Meta or Apple has produced almost a trillion dollars in dividends or like free cash for their investors over the past decade or something like that 13 years um and so the logical thing would be okay maybe we will see similar bidding wars talent wars continue at Amazon Microsoft Apple but maybe there's or it just forces Apple to effectively outsource the R&D by paying open AAI or anthropics totally billions of dollars.

So yeah, how do you think that shakes out? I I don't think more firms more Mac 7 companies are going to compete like that. I think Zuck has a particular style and he always has.

Um I mean if you look at like you said like Oculus yeah he's very happy to pour billions and billions of dollars into something with the hope that it will one day work. Most other Mac 7 companies don't usually operate like that and they can get talent in many cases for for for way cheaper.

I just don't think it's it's also not Apple might be able to do it on their balance sheet but it's not just something that everybody can afford to do. It causes a lot of cultural rift within the company. If you talk to the other day I was I was scrolling metas blind for through a friend.

I mean, people are upset, you know, like people get upset when you you just hear that you can recruit somebody as an engineer and pay them $25 million a year. That's not a good thing for the culture of the company. They also check out mentally inside cuz they're like, "What is the point? Why am I doing this?

" And so, I think, yeah, there's one frame where it's like, "Oh, wow. We hired a 100x engineer. " And there's another one which is like, "So, I'm a 100thx engineer. Maybe I should do 100th the work. " Yeah.

I mean theor you know the right way to look look at that you have some you know top 25 AI researcher in the world joins your firm you should be excited because you're already compensated really well and it will probably increase the value of the company in the fullness of time which directly benefits you but of course if you're making if you're only making 80k a month you know not even not even hitting that you know seven figure mark yeah um that could be a little bit a little bit frustrating.

Anyway, this has been fantastic. Guys, making 80K a month. Yeah, I know. Uh, well, thank you so much for help. 3K more they could be in that. The fact that you know the MRR numbers like the back of your hand is hilarious. Uh, this is fantastic. Thanks so much for stopping by. This is super fun. Thank you for joining.

Let's do it again soon. And John, thank you for having me. Uh, love it. See you guys. Talk to you later. Uh, you might have seen our billboards are tearing up New York City. We have our New York City correspondent joining right now. But if you want to run a billboard in New York City, get on adqu. com.

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