Fireflies’ Growth Drivers: Remote Work and Cheaper LLMs (Full Transcript)

Improved transcription, COVID-era remote meetings, and plunging LLM costs made AI notetakers like Fireflies practical and widely adopted.

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[00:00:00] Speaker 1: I always like to look at three big catalysts for Fireflies. One is the speech technology getting better. That's the enabler, right? Having really great transcription. The other catalyst for us was COVID. Everyone started having meetings on Zoom and Google Meet and Teams, and everyone went remote. All of a sudden, this new technology became front and center, and people wanted to use an AI notetaker because they were just going back to back on seven Zoom calls. And then the third enabler was LLMs, and then the cost of those LLMs going down. When we started working on this stuff, there was no way we could have used LLMs like GBT-4 because it was too expensive. But if you look at in the last 18 months, the cost of intelligence has gone down by 95%.

Summary

The speaker explains three major catalysts behind Fireflies’ growth: improved speech-to-text transcription technology, COVID-driven widespread adoption of remote video meetings that created demand for AI notetakers, and the rise of large language models whose rapidly falling costs have made advanced AI capabilities economically viable.

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Title

Three Catalysts Behind Fireflies: Transcription, COVID, and Cheaper LLMs

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Keywords

Fireflies

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speech technology Remove

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transcription Remove

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COVID-19

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remote work Remove

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Zoom

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Google Meet Remove

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Microsoft Teams Remove

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AI notetaker Remove

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LLMs

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GPT-4

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Key Takeaways

Better speech-to-text transcription enabled reliable AI meeting notes.
COVID accelerated remote meetings, increasing demand for AI notetakers during back-to-back calls.
LLMs became practical as costs dropped sharply, enabling richer meeting intelligence.
Falling AI compute/model costs can rapidly change product feasibility and adoption curves.

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Sentiments

Positive: Optimistic and forward-looking tone, emphasizing enabling breakthroughs, increased adoption, and dramatic cost declines ('cost of intelligence has gone down by 95%').

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