The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC (20VC) interviews the world's greatest venture capitalists with prior guests including Sequoia's Doug Leone and Benchmark's Bill Gurley. Once per week, 20VC Host, Harry Stebbings is also joined by one of the great founders of our time with prior founder episodes from Spotify's Daniel Ek, Linkedin's Reid Hoffman, and Snowflake's Frank Slootman. If you would like to see more of The Twenty Minute VC (20VC), head to www.20vc.com for more information on the podcast, show notes, resources and more.
20VC: Why Remote Work is White Collar Fraud | Why Revenge and Patriotism are the Best Founder Traits | Two Questions Every Founder Needs to Ask | The Wild Story of Raising $1BN from Masa Son in an Hour Long Meeting with Ryan Peterson, Founder @ Flexport
Ryan Peterson is the Founder & CEO @ Flexport, the logistics darling of the venture capital world that has raised $900M+ with the last round valuing the company at $8BN. Today, the company does $450M in revenue growing 30% YoY.
AGENDA:
00:00 — Why Does Ryan Petersen Call Remote Work "White Collar Fraud"?
08:30 — Does Having More Money Actually Make You a Better Founder?
11:40 — When Will Flexport IPO? What Price Would It Go Out At?
19:00 — Can AI Actually Automate Entire Companies or Is the Productivity Boom Overhyped?
22:00 — Which Jobs Will Exist in 5 Years That Don't E...
20VC: SpaceX Soars to $2.7TRN | Anthropic's Fable Banned by US Government | Wix and Adobe Hit All-Time Lows | Mistral Raising at $20BN and The Case for Sovereign Models | Fin Acquired by Salesforce for $3.6BN
AGENDA:
00:00 — SpaceX Completes the Largest IPO in History 03:45 — Elon Musk Adds a Warren Buffett Fortune in 24 Hours 20:45 — Anthropic's Claude Fable Launches Monday, Gets Banned by Thursday 25:00 — Washington Declares War on Frontier AI 39:00 — Europe's Sovereign AI Push Accelerates as Mistral Targets $20B 43:30 — Benchmark Admits Its Biggest Miss: Passing on the Model Labs 45:15 — Salesforce Buys Fin for $3.6B and Rewrites the SaaS Survival Playbook 1:02:00 — Adobe Beats, Raises, and Still Crashes as AI Fears Intensify 1:06:30 — Why Every Legacy SaaS Company Is Trapped in an AI Death Spiral 1:10:00 — The AI Acquisition Window Has Officially Closed 1:13:00 — Nvidia at 16x Earnings vs SaaS at 8x Cash Flow: Where Sho...20VC: Micron Will Be More Valuable Than Meta | How Export Controls Helped Not Hurt China | Power is the Bottleneck to AI | Why Dario Has Done a Disservice to AI with his Labour Replacement Messaging with Aravind Srinivas, Founder @ Perplexity
Aravind Srinivas is the Founder and CEO of Perplexity, one of the fastest-growing AI companies in the world. Since the start of the year, Perplexity has tripled revenue to well over $500M in ARR. Aravind has raised over $1BN for the company with reported valuations reaching $20BN.
AGENDA:
05:40 – "Perplexity Changed Google More Than Any PM Ever Has"
10:15 – Why Search Is Not the Future of AI
13:05 – The Most Important Insight in AI: The Model Is NOT The Product
16:10 – Why AI Agents Will Become Bigger Than Google Search
22:00 – AI Will Design...
20VC: Who Wins the Model War: OpenAI, Anthropic or Open-Source | Token Maxing, AI Hangovers & The Coming ROI Reckoning | Labour Displacement Fears are BS & Overblown | From Physicist to Sequoia Founder with Matan Grinberg, Founder @ Factory
Matan Grinberg is the Founder and CEO @ Factory, an AI research lab, bringing autonomy to software engineering. Matan has raised over $220M for the company from the likes of Sequoia, Khosla, NEA, Evantic and 20VC. Last round valued the company at a whopping $1.5BN.
AGENDA:
00:00 – Why AI Means Everyone Will Become a Builder
04:55 – Will AI Finally Break the 200-Year GDP Growth Ceiling?
06:45 – The Rise of the 100x Engineer & Load-Bearing Talent
08:00 – The New Executive Job: Allocating Tokens Like Capital
10:35 – Kirkland's $500M AI Bet: Brilliant or Delusional?
12:45 – The AI Value W...
20VC: SpaceX Launches Largest Ever IPO | OpenAI Files to Go Public | Uber Cuts 23% of HR | Lovable Hits $500M ARR | Founders Revolt Against VCs: The Fundraising Horror Stories Going Viral
AGENDA:
00:00 – SpaceX Launches the Largest IPO Roadshow in History at $1.77T Valuation
05:00 – Did Elon Break the IPO Playbook? The High-Risk Pricing Strategy Explained
12:00 – Will SpaceX Create a New Generation of Venture Billionaires?
17:00 – OpenAI Files to Go Public as the AI IPO Race Officially Begins
19:00 – Sam Altman's Vision: Why AI Is Becoming Always-On Infrastructure
22:00 – Apple Admits Defeat on Siri and Turns to Google AI
25:00 – Uber Cuts 23% of HR as AI Reshapes White-Collar Work
31:00 – Founders Revolt Against VCs: The Fundraising Horror Stories Going Viral
38:00 – Lovab...
20VC: Nebius Co-Founder on AI Infrastructure Bubbles | The Real Impact of Open Source on OpenAI & Anthropic | How Price Elastic is Demand for Compute | Could Nebius Sell 10x More Compute If They Had It & more with Roman Chernin
Roman Chernin is Co-Founder and Chief Business Officer of Nebius, one of the fastest-growing AI infrastructure companies in the world. Today, Nebius operates some of the largest AI compute clusters globally and serves leading AI labs, enterprises, and developers. Today, Nebius has a market cap of $57BN.
AGENDA:
00:00 — Why AI Infrastructure Is Not a Bubble
05:00 — The Real Impact of Open Source on OpenAI & Anthropic
11:00 — Jevons Paradox: Why Cheaper AI Creates More Demand
13:00 — The Four Layers of AI Infrastructure Explained
19:00 — If Nebius Had 10x More Capacity Tomorrow
26:00 — T...
20Product: Inside Legora's Tech Stack: Why Token Maxing is Failing Enterprise Startups with Jacob Lauritzen, CTO @ Legora
Jacob Lauritzen serves as the CTO at Legora, the fastest growing B2B enterprise company in history; hitting $100 million in ARR in just 18 months . Legora boasts a valuation of $5.6BN and has raised a total of $866 million in funding. Legora's investors include the likes of Accel, Benchmark, and Bessemer Venture Partners, alongside strategic tech giants NVIDIA (NVentures) and Salesforce Ventures.
AGENDA:
05:01 - How to Hire the Best Product Talent in 2026
06:21 - The New Product Bottleneck: Shifting Beyond Code Creation
20VC: Anthropic Files to Go Public | Token Budgeting Panic Hits Corporate America | Cognition Raises $1BN at $26BN Valuation | Apollo Warns PE Software Returns Will be Disastrous | The 9-9-6 Work Ethic: Performative Theatre or Startup Reality?
AGENDA:
00:00:00 — Private Markets Are "F***ing Done" & The Shift to Heavy CapEx
00:00:46 — Anthropic Files to Go Public
00:04:59 — Will the Anthropic IPO Break the Startup Ecosystem?
00:06:22 — The "Billion-Dollar Position" Era: VCs Reset Their Expectations
00:18:11 — The Trillion-Dollar Cash Grab: Google, SpaceX, and OpenAI Rush the Queue
00:23:15 — Is the SaaS Apocalypse Over? Bouncing Off the Bottom
00:25:34 — The Death of Human Per-Seat Licenses as Multiples Shift
00:27:18 — Winners vs. Losers: How Agentic Focused Products Captured the Market
00:30:26 — Cognition Raises $1 Billion at a $26 Billion Valuation
00:33:04 — Token Budgeting Panic...
20VC: Mercor CEO on Why Application Layer Companies Have No Defensibility, The Model is the Product | Token Spend Will Exceed Headcount Spend in 5 Years | The True Cost of Hiring AI Researchers in the Valley Today with Brendan Foody
Brendan Foody is the Founder and CEO @ Mercor, one of the leading data providers to the largest labs on the planet including OpenAI. In the last two years, Brendan has scaled the company to $1.5BN in ARR and a valuation of $10BN.
AGENDA:
True or False:
Mercor lost Meta and OpenAI as a customer with the hack?
Mercor has been poaching competitor talent, paying them millions?
Mercor revenue is not real revenue and is only GMV?
12:56 Would Brendan sell Mercor for $30 billion?
14:23 Why everyone is wron...
20VC: Corgi Insurance: The Most Intense Workplace Culture in America: 7 Days Per Week, Founder Sleeps in Office, Corgi Cafe Open 24 Hours a Day, 60% of First 30 Employees Have Corgi Tattoos | The Journey from $0 to $2.6BN Valuation in Just 2 Years
Nico Laqua is the Co-Founder and CEO of Corgi Insurance, an AI-native insurance carrier built for startups. Corgi is the most intense workplace culture in America. The team works 7 days per week. The founder sleeps in the office. ⅔ of the first 30 team members have a Corgi tattoo. This week, Corgi raised $106M, valuing the company at a whopping $2.6BN.
AGENDA:
06:35 Why going to university was a massive waste of time
09:42 Why we work seven days a week
11:58 Why we do work trials and how that is a test of people's stamina
...
20VC: OpenAI & SpaceX S1 Drops | NVIDIA's $81BN Revenue Quarter | Cloudlfare and ClickUp Do Controversial Layoffs | Exa, OpenRouter and Polsia Raise Mega Rounds | Uber and Microsoft Declare AI ROI for Developers is Questionable
AGENDA:
05:16 Nvidia Blowout Quarter: $81BN Revenues and Stock… Flat!
10:39 Uber and Microsoft Declare Productivity Gains Questionable from AI
25:26 The Layoffs Continue: ClickUp and Cloudflare
34:39 OpenAI S1: Is it a Race? How Will it be Received?
38:28 Do Anthropic Rush Out Their IPO Also?
45:49 SpaceX S-1: "Why I Would Never Invest"
48:06 Why Colossus is a Stroke of Genius By Elon
51:31 Data Centers In Space is BS and Will Not Be Core to SpaceX
58:04 Polsia Raises $30M at $250M Price: Is this the Peak?
20VC: Cerebras CEO on the Future of Data Centres, Token Costs and Memory | We are Not in an Infra Bubble & Dario Got a Bad Deal with Elon for Compute | Should US Companies Sell to China & Why Most Layoffs are AI Washed with Andrew Feldman
Andrew Feldman is the co-founder and CEO of Cerebras Systems. This month, Cerebras went public achieving a market cap of $70BN, the largest semiconductor IPO in history. Cerebras has a massive commercial backlog with a monumental, multi-year $20 billion compute agreement from OpenAI.
AGENDA:
05:58 - Why we are not in an infrastructure bubble and it is just the start
08:00 - Sam Altman's superpower is his ability to forecast capex spend.
08:58 - Anthropic did not get a good deal with Elon. They got a deal that was available.
10:39 - What is go...
20Sales: The $100M CRO Bubble: Why Anthropic Are Causing a Comp Crisis | Why You Should Never Hire From Salesforce or Service Now | How to Hire, Train and Forecase in a World of AI with Chad Peets and Chris Degnan
Chad Peets is one of the most straight-talking, no BS sales leaders of our time. Today, he partners with founders of the fastest growing companies in the world, like Harvey, Factory to build the best sales teams in a world of AI.
Chris Degnan is a legendary technology sales leader who achieved the historic feat of scaling Snowflake from $0 to $4BN in ARR.
AGENDA:
00:00 – The $100M CRO Packages Nobody Believes Are Real
04:10 – Why Most "Elite" Salespeople Are Actually Just Order Takers
08:00 – The Secret to Hiring Killer Sales Talent at...
20VC: Andrej Karpathy Joins Anthropic & Anthropic Raises $30BN at $900BN Price | SpaceX Files S1: How Does it Trade | Cerebras Smashes Day 1: What it Means for IPOs | Why Mass Layoffs Are More Worrying Than Anyone Sees
AGENDA:
00:00 – Anthropic Eyes $900B Valuation & Andre Karpathy's Shock Move
04:46 – Unpacking Anthropic's $30 Billion War Chest
10:52 – The True Cost of AI Tokens: Is Salesforce Spending Too Much?
15:59 – The Bear Case for Token Growth & Why Software Leaders Must Adapt
22:56 – Public Tech Rebound: Figma & Datadog Crush Expectations
26:59 – The Death of Traditional Web Builders? The Decline of Wix & Squarespace
36:59 – Compute Starvation: Is the Semiconductor & Hardware Boom Sustainable?
45:59 – Cerebras IPO Smashes Day One: The Biggest Tech Public Debut Since Snowflake
48:17 – SpaceX Sets Date For the Largest IPO in History
...
20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder
Josh Browder is my favourite emerging manager. As the Founder of Browder Capital he has been the first check into unicorns like Micro1, Owner.com and Yuzu Health to name a few. He turned his Thiel Fellowship Grant of $100K into a whopping $10M angel portfolio. All new investments move into Josh's Four Seasons Residence where he then trains them on company building. They are only allowed to leave when they raise their seed round. In addition to this, Josh is the Founder & CEO @ DoNotPay, the now profitable company that has raised $22M from Marc Andreessen and others.
20VC: Lessons from Jensen Huang on "Founder Mode" | How to Know if OpenAI or Anthropic Will Kill your Company | How USV Liking Music Made Them $1BN on an Investment | The Five Year Desert to Product Market Fit & a $5.3BN Valuation with Shiv Rao @ Abridge
Shiv Rao is the CEO and Co-Founder of Abridge, a leader in generative AI for healthcare. The company reached a $5.3 billion valuation following a $300 million funding round with investors including Jensen Huang, Henry Kravis, USV, Bessemer Venture Partners and Elad Gill. A practicing cardiologist, Shiv has scaled the company to 450 employees and partnered with major health systems like Emory and Yale.
AGENDA:
04:00 — You just have to survive long enough to not die
06:00 — Did USV liking music make them billions of dollars?
13:58 — The three variants of an AI native company
15:00 — How do yo...
20VC: Anthropic Buys Compute From Elon & Commits $200BN to Google | Cerebras IPO: The Breakdown | Ramp's $40BN Latest Valuation | Hubspot Tanks, Monday Rockets: WTF is Happening in Public Markets
AGENDA:
00:05:11 — Anthropic freezes secondary sales, requiring board approval for all transfers.
00:10:45 — Why Anthropic is buying capacity from Elon Musk.
00:15:35 — Anthropic's massive $200B revenue commit to Google.
00:18:55 — Goldman Sachs predicts a 24x surge in token consumption driven by agents.
00:31:05 — Will AI labs eat the app layer? The threat to Legal and CX verticals.
00:37:55 — SaaS public markets: HubSpot tanks 18% while Monday.com finds its footing.
00:42:40 — Growth theft: How Clay is commoditizing ZoomInfo's data business.
00:46:25 — Cerebras prices IPO at $150–$160 with a $48B market cap.
00:52:15 — Real Venture Capital...
20VC: Inside Legora: $100M ARR in 18 Months | Jude Law Generated $50M in Sales Pipeline: The Economics Broken Down | Competing Against Harvey, the 800 Pound Gorilla | Why Legora is Undervalued at $5.5BN with Patrick Forquer, CRO @ Legora
Patrick Forquer is the Chief Revenue Officer at Legora, the fastest growing enterprise business to ever hit $100M in ARR and now on track to hit over $250M in ARR by the end of the year. They recently raised a $550 million Series D at a $5.55 billion valuation, led by Accel, note 20VC did participate and is an investor in the company.
AGENDA:
0:00 – How Jude Law Generated $50 Million in Qualified Pipeline
4:00 – Why Implementation is Your Secret Weapon to Win in AI
5:50 – Why AI Enterprise Sales Require "Legal Engineers"
7:45 – The 6-Figure Rule: Whe...
20VC: What I Learned from 100 of the Best CEOs in the World | What I Learned from Staying with Mr Beast for 3 Weeks | How We Will Spend More on Tokens than Salaries with Cliff Weitzman, Speechify
Cliff Weitzman is the Founder & CEO of Speechify AI. He solved his dyslexia and ADHD in college by building a Voice AI agent that's now used by over 60 million people and has over 1 million five-star ratings. Over 200 software and AI engineers work on Speechify which won the Apple Design award last year.
AGENDA:
00:00 — Until You Hit $100K Do Not Spend on any Channel Other than Meta
04:53 — How I hacked the college system by applying to 26 universities
06:33 — The "Great Guy" yearbook prank that accidentally outed me
08:35 — What I learned from hunting do...
20VC: Mag7 Earnings: Google & Amazon Win - Meta and Microsoft Falter | Anthropic's $50BN Raise & What it Means for a Potential IPO | Atlassian, Twilio and Five9 Beat: The SaaS Apocalypse Over? | Sierra's $15B Valuation: Peak or Potential
AGENDA:
00:00 – Mag Seven Earnings: The "Super Bowl" of Tech Results
04:45 – Google's Cloud Explosion & The AI Search "Disruption" That Never Came
15:53 – Microsoft's $190B Bet: Is AI the Only Thing Keeping Growth Flat?
21:59 – Meta's $150B Future Bet vs. Wall Street's Need for Spreadsheets
28:50 – Palantir's Home Run: Why Big Companies Spend Big Money on AI
38:43 – Apple's Quiet Consistency & The Stealth Inflation of Memory Chips
41:11 – The SaaS Apocalypse Over? Atlassian and Twilio Lead the Re-acceleration
50:50 – Anthropic's $50B Raise & The Math Behind Token vs. Salary Spend
01:05:59 – Sierra's $15B Valu...
20VC: Shopify's Tobi Lütke on How AI is a Scapegoat for Mass Layoffs & What Will Labour Markets Be in the Future | Why We Need More Scrutiny on Charitable Giving, Governments are Bad at What They Do and Trump Derangement Syndrome in Canada
Tobi Lütke is the co-founder and CEO of Shopify, the global e-commerce titan with a $160 billion market cap. Under his leadership, the company generates over $7 billion in annual revenue and has seen its valuation grow nearly 100x since its 2015 IPO. Today, Shopify has over 8,000 employees and AI now generates over 50% of the Shopify's code.
AGENDA:
00:10:36 - The $160 billion CEO who did not want to be CEO.
00:11:51 - Why don't companies become public? Because it is much worse to be an untrusted public company.
00:16:53 - Why we are about to enter a...
20VC: Inside Clay's Sales Playbook Scaling to $100M ARR | How to Set Sales Comp Plans | How to Read Sales Talent Linkedin Profiles | What Profiles to Hire & Fire | How to Increase Performance and Speed in Sales Teams with Becca Lindquist
Becca Lindquist is Head of Sales at Clay, one of the fastest-growing AI companies to reach $100M+ ARR. She previously helped scale dbt Labs into a category-defining data platform, building and leading high-performing sales teams. Before that, she was an early sales leader at Heap, where she played a key role in scaling the GTM motion.
AGENDA:
00:00 Why most sales reps plateau—and when you should leave your company
02:45 Should you jump from SaaS to a hot AI startup right now?
05:30 How long is too long at one company—and what grea...
20VC: Anthropic Raises $45BN but Falls Short on Compute | OpenAI Crushes with GPT5.5 and Codex: Back in the Game? | China Blocks Manus $2BN Deal to Meta | Thoma Bravo Hand Back Medallia Keys to Creditors | Why Google is a Bigger Buy Than Ever Before
AGENDA:
00:00 $45B Floods into Anthropic from Google & Amazon
05:10 OpenAI Misses Growth Targets — Is This a Real Problem?
08:40 The Rise of AI Agents: Why Humans No Longer Pick Models
12:05 "Compute ≠ Revenue": The First Crack in the AI Business Model
20:30 China Blocks $2B Manus Deal — AI Cold War Escalates
34:10 Why Google May Be the Biggest Winner in AI Infrastructure
41:50 The Death of SaaS? Agents Replace Apps Like Jira & Canva
46:20 Thoma Bravo Hands Medallia to Creditors — $5B Wiped Out
52:10 The Collapse of Private Equity Exit Rou...
20VC: Applovin: $160BN Market Cap, $5.48BN Revenue, $10M EBITDA Per Head | Why the Best Do Not Need Mentorship | Why Founders Should Not Angel Invest | Why Kindness in Business Will Slow You Down with Adam Foroughi
Adam Foroughi is the Co-Founder and CEO @ Applovin, one of the most underdiscussed but incredible businesses. Applovin has a market cap of $160BN, the company does $5.48BN in revenue and has an astonishing $10M EBITDA per head. The margins; 80%+. There is almost no other business in the world like it.
AGENDA:
00:00 – Why Winning (Not Fear) Drives the Best Founders
04:30 – When Money Stops Mattering: The Real Founder Motivation
07:15 – $83M CEO Payday: The Truth Behind the Headlines
10:45 – The Hidden Cost of Being a CEO: What No One Tells You
13:00 – Down 92%: Ho...
20Product: Replit CEO on Why Coding Models Are Plateauing | Why the SaaS Apocalypse is Justified: Will Incumbents Be Replaced? | Why IDEs Are Dead and Do PMs Survive the Next 3-5 Years with Amjad Masad
Amjad Masad is the Co-Founder and CEO of Replit, one of the leading "vibe-coding" platforms. Under his leadership, Replit has raised a total of $922 million in funding, recently raising at a whopping $9 billion valuation. Replit has over 50 million registered users and is used by employees at 85% of Fortune 500 companies. Replit's revenue jumped from $10 million to $100 million in nine months, and the company is on track to reach $1BN in ARR by the end of 2026.
AGENDA:
00:00 — Why Coding Models are Hitting a Performance Plateau
07:21 — Is Most of the Value of Replit Not Anthropic Model Quali...
20VC: Cursor Acquired for $60BN by xAI | Anthropic Hits $1TRN in Secondary Markets | Did Anthropic Just Kill Figma, Adobe and Canva | Rippling Hits $1BN in ARR | Salesforce Goes Headless: Smart or Stupid | Cerebras IPO 2.0
AGENDA:
04:00 — 🤯 Cursor Acquired for $60B?! Breaking down the mind-blowing deal with xAI/SpaceX.
07:00 — 🤝 A Marriage Made in Heaven: Why Cursor and Elon Musk actually make perfect sense.
11:00 — 🏆 Who Won the Deal? The $60B question and why SpaceX public shareholders might be the secret losers.
15:00 — 💰 Venture Payday: What this means for the investors and the "lock-up" reality for the founders.
19:30 — 🚀 SpaceX as an AI Lab: Is Elon using $2 trillion in market cap to buy his way into the AI race?.
20:30 — ⚠️ The AI Advantage: Why high-price stocks are the ultimate weapon for massive acqu...
20VC: Everyone is Wrong; We Will Have More Developers in Five Years | Why Frontier Labs Will Be Way More Valuable Than They Are Today | Are SaaS Companies Cooked: Which Thrive & Which Die with Aaron Levie, Founder at Box
Aaron Levie is one of the most forward-thinking public company CEOs when it comes to enterprise adoption of AI. Aaron is the CEO of Box, the enterprise storage company that does over $1BN in revenue but only has a market cap of $3.2BN. Something we discuss today…
AGENDA:
00:00 — Why the Experts are DEAD WRONG About the US-China AI Race
10:55 — Everyone is Wrong About Labour Markets: You Will Not Lose Your Job
13:10 — What Role Does Not Exist Today But Will Be So Common in 5 Years
16:45 — Is Your SaaS Tool Actually a Valueless...
20VC: Jake Paul on Why Traditional VC is Toast and Attention is More Valuable Than Cash | Politics: Will Jake Paul Actually Run for President? | Inside the Payday of Fighting Anthony Joshua and Mike Tyson | with Geoffrey Wu, Co-Founder at Anti-Fund
Jake Paul is one of the most influential creators of the digital era, with over 70M+ followers across platforms. He transitioned from YouTube stardom to become one of the biggest pay-per-view draws in boxing history with fights against Mike Tyson and Anthony Joshua. Jake is also Co-Founder of Anti Fund, where he has made investments in Ramp, Anduril, Cognition and Olipop to name a few.
Geoffrey Wu is a Co-Founder and Managing Partner at Anti Fund. He previously built his career at Goldman Sachs and Point72. He is at the forefront of a new model of investing—whe...
20VC: Anthropic Unveils Mythos | SpaceX's Financials Leaked: Is it Worth $2TRN | Meta Debuts Muse Spark: Are They Back in the AI Race | Jason's Critique of Dario Amodei & How OpenAI Could Win the Enterprise Game
AGENDA:
00:00 — Anthropic Unveils Mythos: The Model "Too Good at Hacking" to Release
05:56 — Why Mythos is a Quantum Leap in Cyber Risk
10:11 — The "Boy Who Cried Wolf": Jason's Critique of Dario Amodei
14:00 — The Oppenheimer Moment: Are Founders Using Doom as a Marketing Tool?
19:22 — Amazon's $20B Secret: Is NVIDIA's Chip Stranglehold Finally Loosening?
22:28 — Claude vs. Lovable & Replit: Anthropic Moves into App Building
25:24 — The 60% Death Spiral: Why Public SaaS Stocks are Entering a Doom Loop
39:51 — Meta Debuts Muse Spark: Alex Wang's First Model from Super Intelligence Labs
44...
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried
Anj Midha is the founder of AMP, and a founding investor in Anthropic. Most recently, Anj was General Partner at Andreessen Horowitz, leading frontier AI investments. He serves on the boards of Mistral, Black Forest Labs, Sesame, LMArena, OpenRouter, Luma AI and Periodic Labs and is an early angel in ElevenLabs among others. Prior to that, Anj was the cofounder/CEO of Ubiquity6 (acquired by Discord) and a partner at Kleiner Perkins.
AGENDA:
04:00 Why the "Scaling Laws are Dead" rumor is dangerously wrong
05:30 The 4 bottlenecks stopping us from reaching Super Intelligence
20Sales: ElevenLabs: Why We Set a 20x Sales Quota | How to Structure Sales Compensation Plans | Customer Success: 'Total BS' or Growth Engine? | Building an AI Sales Machine: What Tools & Tactics Must CROs Adopt Today with Carles Reina
Carles Reina is VP of Sales at ElevenLabs, where he was the first investor and fourth employee. Carles has scaled the revenue org from Day 1 to over $350M in just 3 years. Carles is also an active investor with investments in ElevenLabs, Revolut, Happy Robot and more.
AGENDA:
00:00 - Is the Traditional CRO Dead in the Age of AI?
01:01 - Building the AI Sales Machine: Agents that Actually Generate Revenue
08:35 - Will AI Shrink the Sales Teams of the Future?
09:51 - The ElevenLabs Masterclass: Why We Set a 20x Sales Qu...
20VC: Anthropic Surpasses OpenAI Revenue | OpenAI Acquisition of TBPN: Analysed | OpenAI Management Team Reboot | YC Kicks Delve Out | Mercor Hack and Why Now is the Time for Cyber | Supabase Raising at $10BN & Doug Leone Returns to Sequoia
AGENDA:
03:59 — Anthropic Surpasses OpenAI in Revenue
12:43 — OpenAI Management Reboot
18:24 — OpenAI Buys TBPN
29:00 — SpaceX Files for IPO Targeting $2 Trillion Valuation
37:21 — Doug Leone Returns to Sequoia Capital
41:14 — YC Kicks Out Delve
45:21 — The Rise of Open Router
57:59 — Supabase Targeting $10B Valuation
01:08:18 — The Mercor Hack and AI Cyber Threats Moving Forward
01:17:25 — The $1.8B Two-Person Company
20VC: DeepMind's Demis Hassabis on Why AGI is Bigger than the Industrial Revolution | Why LLMs Will Not Commoditise & We Have Not Hit Scaling Laws | Bottlenecks in AI & The Energy Crisis Caused By AI | Whether AI Will Do More to Harm or Help Inequality
Demis Hassabis is the Co-Founder & CEO of Google DeepMind - working on AGI, responsible for AI breakthroughs such as AlphaGo, the first program to beat the world champion at the game of Go; and AlphaFold, which cracked the 50-year grand challenge of protein structure prediction and was recognised with the 2024 Nobel Prize in Chemistry. Demis is revolutionising drug discovery at Isomorphic Labs. Ultimately, trying to understand the fundamental nature of reality.
AGENDA:
00:04:00 — What Actually Counts as AGI; and Where Are We Today?
00:05:00 — What Are the Biggest Bottlenecks Holding AI Back Today?
00:06:00 — Have W...
20VC: Hims & Hers: $4.3BN Market Cap on $2.3BN of Revenue: The Comeback | Why Being Public is 10x Better | The Death of the "Strategy" Hire | Why Performance Marketing is Worse than Brand Marketing with Andrew Dudum
Andrew Dudum is the Founder and CEO of Hims, the company reshaping consumers relationship to healthcare. It has been a rocky ride over the last 6 months, the company is down 66%, their market cap today is $4.3BN on $2.3BN of revenue. They just bought their largest international competitor, Eucalyptus for $1.5BN.
AGENDA:
00:00 — Why Being Public Is Better Than Private
02:50 — My Advice to The Collisons on Taking Stripe Public
07:15 — How to Hire for the Most Gritty People: The Test
10:55 — How AI Will Reshape All of Customer Acquisition
15:30 — What Did Hims Do That A...
20VC: Anthropic's $6BN Revenue Month | OpenAI Kills Sora & Hits $100M ARR on Ads | Oura Going Public & Whoop Raises at $10BN | Manus Founders Trapped in China & The Billionaire Tax: Anyone Left in California?
AGENDA:
00:00 — Anthropic's Monster Month: 6 Billion in February Revenue
04:30 — The "Claude Mythos" Leak: 10 Trillion Parameters
11:50 — OpenAI Kills "Sora": A Massive Strategic Own Goal?
14:30 — OpenAI Hits $100M in Ads: Why OpenAI Must Make Ads Work
20:50 — Masa Son's $40BN Bridge Loan: Investing More Into OpenAI
21:50 — Cybersecurity Stocks Tank: Is the Anthropic Panic Justified?
27:10 — The Golden Age of Cyber: Why AI Agents are a "Golden Goose" for Security
31:30 — Gross vs. Net: The Truth Behind AI Revenue Accounting
34:50 — The "Vibe Coding" Era: Reselling Tokens and Triple-Counting ARR
41:00...
20VC: Anthropic's Monster $6BN Revenue February | OpenAI Kills Sora and Hits $100M on Ads Business | Oura Going Public & Whoop Raises $500M at $10BN Valuation | Manus Founders Trapped in China Post Meta Acquisition
AGENDA:
00:00 — Anthropic's Monster Month: $6BN in February Revenue
04:30 — The "Claude Mythos" Leak: 10 Trillion Parameters
11:50 — OpenAI Kills "Sora": A Massive Strategic Own Goal?
14:30 — OpenAI Hits $100M in Ads: Why OpenAI Must Make Ads Work
20:50 — Masa Son's $40BN Bridge Loan: Investing More Into OpenAI
21:50 — Cybersecurity Stocks Tank: Is the Anthropic Panic Justified?
27:10 — The Golden Age of Cyber: Why AI Agents are a "Golden Goose" for Security
31:30 — Gross vs. Net: The Truth Behind AI Revenue Accounting
34:50 — The "Vibe Coding" Era: Reselling Tokens and Triple-Counting ARR
41:00...
20VC: Marc Andreessen on The Future of Venture Capital: Will a16z Go Public | Why Labour Displacement with AI is Wrong | Why Introspection is Dangerous | Why "Diamonds in the Rough" is BS in VC | Why a16z Invested $300M into Adam Neumann
Marc Andreessen is a Co-Founder and General Partner at Andreessen Horowitz. The firm now manages over $90BN and has invested in the likes of OpenAI, Airbnb, Coinbase, Anduril and many more. Marc is an innovator and creator, one of the few to pioneer a software category used by more than a billion people and one of the few to establish multiple billion-dollar companies. Marc co-created the Mosaic internet browser and co-founded Netscape (sold to AOL for $4.2 billion). He also co-founded Loudcloud, which as Opsware, sold to Hewlett-Packard for $1.6 billion.
AGENDA:
05:00 — Why Introspection is Overrated: The Dan...
20VC: The Venture Model is Broken | You Need to be Greedy and Selfish to Win Early Stage Investing | Why Margins Do Not Matter for Early-Stage Startups | The Growth Rate that is Required in a World of AI with Gili Raanan, Founder @ Cyberstarts
Gili Raanan is the Founder of Cyberstarts, one of the best performing venture funds of the last decade. He is famed for being the seed investor in Wiz, Islands and Cyera, leading to multiple 10x+ funds. He has the only remaining monopoly in venture; cyber security in Israel. If it is good, Gili sees it, it is that simple.
AGENDA:
00:00 — Does the Venture Business Even Work Anymore?
05:58 — The Insane Rise of $150M Seed Rounds!
08:58 — Will Mega Funds Ever Actually Return Venture Economics?
11:13 — How Do You Value Companies Growing at Impossibl...
20VC: Why You Need a $1BN Fund To Do Series A Today | OpenAI vs Anthropic: Who Wins Enterprise | SpaceX at $2TRN and Data Centers in Space | The $20BN Groq Deal Broken Down | Jeff Bezos' $100BN New Fund
AGENDA:
05:00 — Anthropic vs. OpenAI: Who Is Actually Winning the Enterprise War?
07:55 — "Air of Desperation": Is OpenAI Losing Its Invincibility?
18:00 — SpaceX at $2 Trillion: Elon's Insane Plan to Build Data Centers in Space
29:00 — Jeff Bezos' $100 Billion Fund: The End of "Doing It the Hard Way"
34:00 — The $20 Billion "Acqui-hire": The Groq Deal Broken Down
40:40 — Figma's Death Spiral? Why the Markets Are Terrified of AI Disruption
56:00 — The Broken VC Math: Why You Need $1BN To Do Series A
01:04:00 — Win or Die: The Terrifying Reality of the Unicorn "Dead Zone"
<20VC: Inside Anduril's $20BN Army Contract & Why Anduril Must Go Public | Why 99% of Drone Companies Will Die | Why There is Never an Ethical Question of How Anduril Products are Used with Matthew Steckman, President @ Anduril
Matthew Steckman is the President and Chief Business Officer of Anduril. Matt played a central role in securing the $20BN contract Anduril just won with the US military. Prior to Anduril, Matt served as Chief Revenue Officer for Zipline. Before Zipline, Matt held several leadership positions at Palantir.
AGENDA:
3:45 — Anduril's $20BN Army Contract Broken Down
6:30 — What Do Most Defense Founders Get Completely Wrong?
9:15 — Can You Build a Billion-Dollar Defense Company Without the US?
12:05 — Why Government Contracts Are Brutal (And Why Most Fail)
15:40 — How Does Anduril Predict Wars 5–10 Years Before...
