The 12-month window

Elad Gil argued that many startups may have only about a 12-month window at peak valuation before their value starts to slip.

He advised founders to bring potential exit options into recurring board discussions rather than waiting too long.

The warning is especially relevant for AI startups as foundation models spread into more categories and competition intensifies.

The broader message: founders should assess exits while leverage is still high, before market shifts reduce their options.