Cognition AI Series A

We need to talk about Cognition AI's Series A. $175M at $2B from Founders Fund, a16z for devin's expensive nap. On one hand, the ai opportunity is legitimate and the timing could be right. On the other hand, there are maybe fifteen other companies with identical pitch decks and similar traction, all racing to the same exit that might not exist. The valuation suggests conviction, but I suspect it's more about portfolio allocation percentages than genuine excitement. This is the kind of deal that will either quietly work out or quietly get marked down, never making headlines either way.