AI is about to change how we buy things. The last generation of marketplaces optimized for search: List the inventory. Add filters. Sort by price. Remove friction. That playbook is exhausted. What comes next are AI-powered marketplaces with agents that work for you - not just showing options, but advocating on your behalf. Key things they will do: • Understand your constraints and preferences • Decide when to buy, not just what • Negotiate across sellers to get the best outcome Instead of scrolling, you’ll delegate. The future of commerce isn’t better discovery. It’s decision-making and execution on your behalf.

Don’t start with the product. Start with distribution. I give this advice to entrepreneurs all the time because distribution is the hardest part of building a company. “Build it and they will come” almost never works. And even if you expect distribution to be hard—it’ll be 10× harder. HotelTonight started with a distribution insight. In 2009, we saw that the App Store about to become a massive channel. Billion-dollar companies would be built there, and early movers could earn free distribution before the competition showed up. From that insight, we worked backwards to the product: - A use case uniquely suited to mobile: last-minute hotel booking - Designed to win App Store ranking and retention: beautiful UI, lightning-fast 8-second bookings - Clear, curated choices and amazing deals that fit the mobile moment That combo—a unique distribution edge + a product tailored to it—powered our growth. As you think about your next company, begin with your edge in distribution. Maybe you are an expert at selling into a specific vertical. Maybe you're great at creating authentic content. Maybe you’ve spotted an emerging channel before anyone else. Only then decide what to build—the product that best amplifies your distribution advantage. At speedrun, we’re seeing teams win with GEO, founder-led content, and high-intent launch videos. So I’ll leave you with a prompt: What’s your unique approach to distribution—and what product could you build that maximizes it? If you’re working on this, I’d love to hear from you. Apply to @speedrun at sr [dot] a16z [dot] com.