Next Big Teng

Roadmap: Developer Tooling for Software 3.0

From “Hello, World” to “Hello, AI”: Software engineering has leapt from human–AI collaboration to orchestration — and now toward full autonomy.

Aug 28 • 

Janelle Teng

13

Much ado about margins: The grossly overhyped AI gross margin debate

There has been a lot of chatter recently on the "ugly" gross margin profiles of fast-growing early-stage AI companies. Is this a point-in-time feature…

Aug 22 • 

Janelle Teng

19

The State of AI 2025

Three years after the AI Big Bang early galaxies are forming in the Cloud AI universe, with plenty of “dark matter” still swirling.

Aug 14 • 

Janelle Teng

70

2

July 2025

AI Infrastructure’s Second Act: Environments, Evals, Experience

The “real” work of AI Infrastructure is just beginning

Jul 29 • 

Janelle Teng

14

New frontlines, New primes

Defense tech innovators are deploying into a new age of disruption, as major macro and structural shifts pave the way for a generational transformation.

Jul 22 • 

Janelle Teng

15

May 2025

Accelerating enterprise transformation toward high-performance analytics with ClickHouse

Bessemer Venture Partners invests in ClickHouse Inc's Series C as the company rapidly transforms the enterprise data infrastructure landscape.

May 29 • 

Janelle Teng

7

April 2025

Google’s "Full Stack Flex": Reflections from Cloud NEXT 2025

From cloud to chips to code agents, Google is leaning into vertical integration in its quest for AI dominance.

Apr 18 • 

Janelle Teng

15

5

Bessemer’s AI agent autonomy scale—a new way to understand use case maturity

As we move rapidly toward an agent-driven workforce, we’re proposing a clear definition of an “agent” as well as a framework to measure progress.

Apr 10 • 

Janelle Teng

20

1

AI agents as 'first-class citizens' in software development

"Developer experience" is evolving into "agent experience" as MCP elevates AI agents into primary users and direct consumers of developer tools

Apr 4 • 

Janelle Teng

18

4

March 2025

Roadmap: Data 3.0 in the Lakehouse Era

We’re moving beyond the modern data stack as a new architectural revolution sweeps the infrastructure landscape, ushering in unprecedented…

Mar 25 • 

Janelle Teng

20

1

February 2025

How the next iconic data infrastructure company will be born in the AI era

“Infrastructure inspires applications” but “applications inspire infrastructure” as well — reflections on how these interconnected innovation loops may…

Feb 12 • 

Janelle Teng

27

1

January 2025

The AI infrastructure build-out debate just got deeper

Obligatory post from an infra VC threading together all of the hottest topics from the past few weeks — DeepSeek, Stargate, Big Tech capex

Jan 31 • 

Janelle Teng

22

1