The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

<p>AGENDA:</p> <p data-pm-slice="1 1 []">03:47 Sequoia exits London and ends its scout program<br /> 14:46 Nvidia board opens inquiry into Jensen Huang<br /> 21:51 Nasdaq 100 sheds $2.5T in one day<br /> 24:13 Anthropic targets $1T IPO valuation at $70–$78 a share<br /> 34:16 Revolut hits $115B, Zipline triples to $21.5B, fal doubles to $16B<br /> 40:47 Fireworks AI suffers two breaches in 30 days<br /> 45:41 Dialpad buys Ada for $400M in stock<br /> 50:35 Cloudflare revenue jumps 39% after a 20% staff cut<br /> 1:00:05 California voters reject billionaire wealth tax</p> <p data-pm-slice="1 1 []"> </p> <pre dir="ltr"> </pre>

<p>Arthur Mensch is the Co-Founder and CEO @ Mistral, the last remaining hope for frontier intelligence in Europe. Mistral has raised approximately $7.5BN, including debt, and reached a valuation above $24BN. Previously a researcher at Google DeepMind, Arthur co-authored the landmark Chinchilla research, showing how smaller, better-trained AI models could outperform much larger rivals.</p> <p><strong>AGENDA: </strong></p> <p data-pm-slice="1 1 []">00:00 Is Mistral Europe's Last Hope in AI?<br /> 08:45 Are Chinese Open Models Actually Safe?<br /> 13:00 Will OpenAI & Anthropic Replace Their Own Customers?<br /> 14:40 Why Energy Isn't Europe's Biggest AI Bottleneck<br /> 24:05 Why Mistral Won't Follow OpenAI Into Chips<br /> 30:40 Who Gets Rich From the Inference Boom?<br /> 31:45 102 New AI Labs: Who Actually Survives?<br /> 35:30 Are $100 Billion Training Runs a Fantasy?<br /> 36:20 If Everyone Needs Compute, Why Are AI Stocks Crashing?<br /> 44:05 Will Mistral Choose Europe for Its IPO?</p> <p data-pm-slice="1 1 []"> </p>

<p>Scott Wilson is the CIO of WashU, one of the best-performing endowment funds in the world. Under his leadership, Scott has grown the endowment from $8BN to $19BN today. At one point, SpaceX was over 20% of the entire value of the endowment. </p> <p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span> </p> <p data-pm-slice="1 1 []">00:00 – How WashU Built One of the Best-Performing Endowment Portfolios in the World</p> <p>04:00 – Scott Wilson's Investment Playbook: Concentration, Conviction and Compounding</p> <p>05:20 – Why Scott Sold Over 75% of WashU's Portfolio When He Joined</p> <p>07:15 – How Should You Allocate a $20 Billion Endowment Between Publics and Privates?</p> <p>10:00 – How WashU Finds Direct Investments That Other LPs Miss</p> <p>12:15 – How WashU Made Billions From SpaceX and Kept Holding</p> <p>13:25 – Why Concentration Limits Are Killing Venture Returns</p> <p>16:15 – Scott's Biggest Investing Mistake </p> <p>17:10 – How Much Diversification Does a $20 Billion Endowment Really Need?</p> <p>19:40 – Why Mega Funds Don't Work for WashU's Investment Strategy</p> <p>23:15 – How WashU Gets Into the Best Companies Before Everyone Else</p> <p>25:35 – Are Private Market Valuations Now Completely Detached From Reality?</p> <p>28:10 – Why Half of Today's AI Companies Could Disappear in 10 Years</p> <p>30:10 – When Should LPs Sell Their Biggest Winners After an IPO?</p> <p>32:00 – Why Scott Wilson Walked Away From Sequoia Capital</p> <p>34:15 – The Number One Reason WashU Fires Venture Managers</p> <p>35:45 – Should LPs Forgive VCs for Deploying Their Funds in Just 18 Months?</p> <p>38:30 – Is the AI Boom Heading for a Massive Shakeout?</p> <p>45:15 – Why European Companies Are So Much Cheaper Than US Companies</p> <p>47:30 – Why WashU Still Believes China Is a Great Place to Invest</p> <p>48:30 – Is Government Overreach Actually Worse in the UK Than China?</p> <p>50:10 – Quickfire: The Venture Funds Scott Wishes He Had Backed</p> <p>53:00 – The Best Career Advice From a $20 Billion Endowment CIO</p> <p> </p>

<p>AGENDA: </p> <p>04:00 OpenAI Cuts Valuation to $1.25 Trillion as Fundraise Shrinks<br /> 08:00 Google Loses $500 Billion as AI Stocks Sell Off<br /> 10:00 Anthropic's Growth Slows as AI Price War Intensifies<br /> 27:00 DoorDash Buys Instacart for $17 Billion<br /> 33:00 Kalshi Raises $1 Billion at $40 Billion Despite Legal Threats<br /> 41:00 Cognition Eyes $80 Billion as Baseten Hits $30 Billion and Serval $3 Billion<br /> 51:00 AI Law Firm Crosby Bids for Collapsed Legal Giant Weil<br /> 57:00 Physical Intelligence Targets $20 Billion Valuation<br /> 01:00:00 Hugging Face Deal Faces Scrutiny as Salesforce Buys Cresta for $2.7 Billion</p> <p> </p>

<p dir="ltr">Erik Bernhardsson is the Co-Founder and CEO of Modal, the AI infrastructure platform for training models, running inference and powering AI agents. Modal has raised over $1.2 billion, including a recent $750 million Series D led by Accel at a $15.75BN valuation. The company has surpassed $1BN in ARR, growing more than 15x year-on-year. Previously, Erik built Spotify's original music recommendation system.</p> <p dir="ltr">AGENDA: </p> <p dir="ltr">05:30 - Why wait until your mid-30s to start a company?</p> <p dir="ltr">06:40 - Is founding a startup really like "eating glass"?</p> <p dir="ltr">08:00 - How to Raise $1BN with No Pitch Deck</p> <p dir="ltr">08:45 - The danger of raising too much venture capital</p> <p dir="ltr">09:40 - How much cash is Modal burning on GPUs?</p> <p dir="ltr">10:30 - Do early-stage startups actually have moats?</p> <p dir="ltr">13:30 - Who wins the inference market in the next 5 years?</p> <p dir="ltr">15:30 - Are 90% software gross margins dead in AI?</p> <p dir="ltr">17:45 - The "open-air drug market" for GPUs</p> <p dir="ltr">21:30 - Will GPU hardware prices ever collapse?</p> <p dir="ltr">22:15 - Are we about to overbuild data centers?</p> <p dir="ltr">23:45 - Can custom silicon dethrone NVIDIA's monopoly?</p> <p dir="ltr">24:30 - Is CUDA really the moat everyone claims it is?</p> <p dir="ltr">25:20 - Are Neo Cloud providers partners or mortal enemies?</p> <p dir="ltr">26:35 - Nebius vs. CoreWeave: who built the better business?</p> <p dir="ltr">27:25 - Open-source vs. frontier models: which takes the lead?</p> <p dir="ltr">28:20 - Can Europe ever build a competitive frontier model?</p> <p dir="ltr">30:20 - The bull case for a $100B verticalized model company</p> <p dir="ltr">37:15 - Modal's biggest resource allocation mistake</p> <p dir="ltr">38:00 - Has open-source LLM inference already peaked?</p> <p dir="ltr">41:30 - The real limits of post-training and RL</p> <p dir="ltr">44:20 - How much does Modal spend every month on coding agents?</p> <p dir="ltr">45:50 - The massive gold rush in selling data environments to labs</p> <p dir="ltr">47:20 - Should enterprises own their own intelligence?</p> <p dir="ltr">49:50 - Is model routing a defensible standalone business?</p> <p dir="ltr">53:20 - $20M+ compensation packages for exceptional new grads</p> <p dir="ltr">54:20 - The #1 portfolio company Erik would bet on</p> <p dir="ltr">55:10 - What Erik changed his mind on most this year</p> <p dir="ltr"> </p>

<p>David Tisch is the Founder of Box Group, one of the best seed funds of the last decade with early investments in Cursor, Baseten and Clay to name a few. Today the fund invests from two funds, a $275M seed fund and a $275M opportunity fund.</p> <p>AGENDA: </p> <p data-pm-slice="1 1 []">10:40 Why we have less dilution now than ever before<br /> 12:50 Why I don't want to compete with the best VCs, and why it's a trap<br /> 16:15 What concentrated funds know but do not admit to<br /> 17:25 Why multiple tranched rounds can be good for founders<br /> 18:45 Why the Lean Startup was a total fake<br /> 28:55 Why LPs are frustrated by a market that we can't change<br /> 31:50 What is the single best-returning investment in the history of BoxGroup?<br /> 33:15 Why fund returners are not always obvious in the early years<br /> 40:05 Why funding consumer brands at seed no longer makes sense for venture<br /> 42:00 Rogo, the now $2B company, got passed on by 39 out of 40 investors<br /> 45:40 Why the marketing message that pro rata is not a right is BS<br /> 1:01:50 Why we do not allow negativity in the investment decision-making process<br /> 1:03:00 The true magic of early-stage venture capital<br /> 1:04:35 Why YC has the best business model in all of venture</p> <p data-pm-slice="1 1 []"> </p>

<p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span> </p> <p data-pm-slice="1 1 []">04:00 Anthropic Files S-1 Ahead of $2TRN IPO<br /> 14:50 Microsoft Offers Buyouts to 60,000 Employees<br /> 20:45 Zuckerberg Taps Equity Markets for $95 Billion AI Spending Spree<br /> 23:00 DeepSeek Raises $15 Billion as Chinese AI Faces US Backlash<br /> 34:45 OpenAI and Wiz Uncover Decade-Old Security Flaws<br /> 37:05 Instinct's Rumoured $30 Billion Valuation Divides the Panel<br /> 45:30 Invest Committee: Put 20% of the Fund Into OpenAI at $1.25 Trillion<br /> 49:40 Palmer Luckey's War Dog Startup Hits $1.5 Billion Valuation<br /> 55:00 Zuckerberg Threatens California Exit Over Billionaire Tax</p> <p data-pm-slice="1 1 []"> </p>

<p dir="ltr">Satya Nadella is the CEO of Microsoft and one of the greatest CEOs of our time. Satya has been at the company for an astonishing 34 years. When he joined, Microsoft had a market cap of $23.5BN. 22 years later, the company was worth $300BN. At this point, Satya took the reins as CEO. Under his leadership, he has taken it from $300BN to $3.9TRN. </p> <p dir="ltr"><span style= "text-decoration: underline;"><strong>AGENDA: </strong></span></p> <p dir="ltr">03:08 Should We Assume Every AI Model Is Compromised?<br /> 04:13 How Do We Stop AI Agents From Causing Harm?<br /> 06:15 Can We Trust an AI Model's Chain of Thought?<br /> 07:05 Is China's Lead in Open-Source AI a Safety Risk?<br /> 08:28 Will Open or Closed Models Win the Next Two Years?<br /> 10:08 Why Should Every Company Own Its Intelligence?<br /> 12:12 Will Every Company Become AI Native?<br /> 13:22 Are We Entering an AI Implementation Economy?<br /> 15:10 Do You Need to Own the Entire AI Stack to Win?<br /> 16:49 Can the World Support $100 Billion AI Training Runs?<br /> 18:34 Can AI Radically Accelerate Global Economic Growth?<br /> 19:39 Will AI Transform Sales, Finance and Marketing Like Coding?</p> <p dir="ltr">Quickfire round<strong> </strong></p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">What have you changed your mind on most in the last 12 months?</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">What looks crazy today but will be incredibly common in 5 years?</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">What's the exercise routine given the travel schedule?</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Favorite cheat meal on a rest day?</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">What are you most excited for in the next 10 years?</p> </li> </ul> <p> </p> <p> </p>

<p><strong>AGENDA:</strong></p> <p>05:00 Will we run out of energy?<br /> 19:00 Will specialised chips threaten NVIDIA's dominance?<br /> 26:00 Can we trust AI agents more than humans?<br /> 31:00 Will data companies become commodities?<br /> 36:00 What comes after transformers?<br /> 41:00 Are software investors f****** in a world of infra and compute?<br /> 52:00 How big will the inference market be in 10 years?<br /> 53:00 Could robotics be 100x bigger than coding agents?<br /> 59:00 Why are coding agents the most overrated AI investment?</p> <p> </p>

<p>AGENDA: </p> <p data-pm-slice="1 1 []">04:20 Billion-Dollar Bets or Nothing: Why VCs Are Rejecting Fast-Growing Startups<br /> 13:20 CoreWeave Sell-Off Sparks Fears of Cracks in AI Boom<br /> 18:50 Anthropic's IPO Valuation Could Fall From $2 TRN to $1.5 TRN<br /> 32:10 Modal Raises $750M at a $15.75B Valuation as Inference Booms<br /> 35:50 Town at $1B, Anduril at $90B: Have Startup Valuations Lost Touch?<br /> 42:15 Berkshire Hathaway Doubles Down on Bending Spoons<br /> 45:05 37signals' Profit Machine Challenges the Venture Capital Model<br /> 49:20 General Atlantic Eyes an IPO; Harvard's Endowment Hits $68B<br /> 54:15 Elon's Flying Roadster and $10B SpaceX Share Giveaway</p> <p data-pm-slice="1 1 []"> </p>

<p>Sameer Dholakia is a Partner @ Bessemer, the first that has just raised $5.75BN across a $1.75BN seed fund and $4BN growth fund. Sameer has led investments into the likes of Anthropic, Fireworks and Legora to name a few. Prior to venture, Sameer was the CEO of SendGrid, taking it from $30M in ARR to over $200M. </p> <p><strong>AGENDA: </strong></p> <p data-pm-slice="1 1 []">04:55 Why This Is a Supercycle Like Never Before<br /> 07:40 Why We Backed Anthropic to Compete With the Hyperscalers<br /> 10:05 Why Anthropic Was One of Bessemer's Most Contentious Deals<br /> 11:05 Why Open Models Don't Destroy the Market for Closed Models<br /> 16:45 Does Price Matter in AI—and Which Metric Really Determines Value?<br /> 19:45 How Much Should Consumer Businesses Be Discounted for Their Revenue Quality?<br /> 20:20 Why Today's Gross Margins Matter Less Than You Think<br /> 23:00 Competition Hasn't Changed—but the Capital Behind It Has<br /> 24:00 Why Capital Is a Moat Today<br /> 25:55 Is "Triple, Triple, Double, Double" Dead?<br /> 28:00 Can You Still Succeed With a Small Seed Fund?<br /> 29:45 Who Wins and Who Loses in the Future of Venture Capital?<br /> 32:15 Why Founders Shouldn't Hate Being an "Option Bet"<br /> 34:35 Why Signalling Risk Doesn't Worry Me<br /> 51:55 Why Companies Will Stay Private Longer—and Why the IPO Window Could Reopen by 2028<br /> 56:00 How Should Retail Investors Participate in Venture Capital?<br /> 57:25 How Fireworks Could Become a $250 Billion Business<br /> 01:02:35 Why Bessemer Is Confident It Can Deliver 5x Returns on $5.75 Billion</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Harrison Chase is the co-founder and CEO of LangChain, which helps developers build, test and deploy AI agents.<br /> Backed by Sequoia Capital, Benchmark and IVP, LangChain has announced approximately $160 million in funding with the last round at a $1.25BN valuation. The company works with 35% of the Fortune 500, has surpassed one billion open-source downloads and processes over one billion events daily through LangSmith.</p> <p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span></p> <p>04:10 Why Is It Still So Hard to Build AI Agents?<br /> 08:50 Will the Model Labs Eat the Agent Stack?<br /> 16:25 Is Model Routing a Real Business or a Commodity?<br /> 25:45 Why Has No One Solved AI Memory?<br /> 35:45 Why Are AI Bills Exploding as Tokens Get Cheaper?<br /> 43:25 Should Companies Be Afraid of Chinese AI Models?<br /> 46:20 Where Would Harrison Not Be Investing Today?<br /> 53:05 Should Founders Take a Discount for Benchmark and Sequoia?<br /> 57:35 OpenAI at $1.5T or Anthropic at $2T: Which Would You Buy?</p> <p> </p>

<p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span></p> <p data-pm-slice="1 1 []">04:00 Valar Atomics Sues Seed Investor Day One Ventures Over Pro Rata<br /> 17:00 Meta Returns to the AI Frontier With Muse Wonder<br /> 20:00 NVIDIA Eyes $30B Reflection Deal as Amazon Circles Decart<br /> 26:00 Jev Raises $870M at a $7.5B Valuation—Weeks After Launch<br /> 31:00 42 New Decacorns: The AI Boom Overtakes 2021's Record<br /> 36:00 Isomorphic Labs Eyes $50B Valuation in New Funding Talks<br /> 46:00 Anthropic Slashes Haiku Prices by 90% as AI Price War Intensifies<br /> 52:00 Bending Spoons Slashes Airtable's Team: What Do Founders Owe Employees?<br /> 57:00 Bumble to Go Private in $1.3B Deal: Can AI Transform Dating?<br /> 01:01:00 The SaaSpocalypse Deepens: Why $500M ARR May No Longer Be Enough<br /> 01:06:00 Flock Safety Cuts 270 Jobs Amid Privacy and Security Backlash</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Mike Cannon-Brookes is the Co-Founder and CEO of Atlassian, the company behind Jira, Confluence, Trello and Loom.<br /> Atlassian generated $6.5BN in ARR in 2026, and serves more than 350,000 customers, including over 85% of the Fortune 500. Today, Mike is leading its expansion into enterprise AI through Rovo and the Teamwork Graph, connecting company knowledge with AI agents.</p> <p>AGENDA: </p> <p data-pm-slice="1 1 []">03:00 Do AI Agents Turn Traditional Software Into Just Databases?<br /> 16:00 Will Enterprises Ever Trust Chinese AI Models?<br /> 20:00 Is Building Your Own AI Model a Losing Bet?<br /> 24:00 Can AI Startups Survive When They Finally Have to Care About Costs?<br /> 30:00 What Happens When AI Gets Cheaper Than Anyone Expects?<br /> 35:00 Is Company Context the Real Moat in Enterprise AI?<br /> 41:00 What Happens When OpenAI and Anthropic Come for Your Customers?<br /> 44:00 Why Are Young Founders Cashing Out More Than Ever?<br /> 49:00 What Does Nobody Tell You About Getting Rich?</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Max Freeman is SVP of Sales at Ramp. He joined the company as its first sales hire. By 2025, he was leading more than 300 salespeople, helping build Ramp's sales organisation from the ground up. Ramp's latest reported revenue exceeds $1.7BN, with a valuation of over $40BN. </p> <p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span></p> <p data-pm-slice="1 1 []">00:00 Inside Ramp's Sales Playbook<br /> 05:00 How Do You Find Exceptional Sellers—and Why Bankers Make the Best?<br /> 18:00 How Do You Build an Outbound Machine That Scales Beyond Your SDR Team?<br /> 24:00 How Do You Shorten Sales Cycles Without Slashing Your Price?<br /> 27:00 How Should You Pay Your First Reps—and Incentivise New Products?<br /> 34:00 How Do You Onboard Reps Who Can Actually Sell?<br /> 40:00 How High Should Quotas Be—and How Long Should Reps Get to Ramp?<br /> 44:00 How Do You Drive Customer Expansion and Forecast Revenue Accurately?<br /> 54:00 How Do You Grow as a Sales Leader Without Taking Over Every Important Deal?</p> <p data-pm-slice="1 1 []"> </p>

<p>Joinin the trio today we have Dev Ittycheria, CEO @ MongoDB. </p> <p>AGENDA: </p> <p data-pm-slice="1 1 []">04:00 OpenAI Nears $70B Run Rate—Anthropic's Lead Under Threat<br /> 12:00 Factory vs Cognition: Silicon Valley's Talent War Turns Ugly<br /> 23:00 Vinod Khosla Blasts His Own Portfolio Company<br /> 25:00 Reflection Launches Beam: America Strikes Back in Open-Source AI<br /> 34:00 ElevenLabs Doubles Its Valuation to $22B<br /> 37:00 Salesforce Buys Listen Labs for $2B—Sequoia Cashes In<br /> 46:00 Vercel Hits $600M ARR as Agents Drive Half Its New Business<br /> 55:00 Former Groq Engineers Sue Over Nvidia's $17B Deal<br /> 01:01:00 Meta's Muse Steals the Show as OpenAI's Dots Underwhelms<br /> 01:05:00 Oura Pulls Its IPO Despite 74% Growth—A Warning for VC</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Venky Ganesan is a Partner at Menlo Ventures, whose portfolio includes Anthropic, Lovable, Legora and Higgsfield, alongside earlier hits Uber and Roku. Venky's own investment track record includes Palo Alto Networks, Upwork, Poshmark and Rover. He is a three-time Forbes Midas List investor and former Chair of the National Venture Capital Association.</p> <p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span></p> <p data-pm-slice="1 1 []">07:00 Can You Still Do Seed Without a $1 Billion Fund?<br /> 11:00 How Much of AI's Revenue Growth Is Actually Real?<br /> 19:00 When Is "Overpaying" the Smartest Investment You Can Make?<br /> 25:00 Does Ownership Still Matter in a World of Trillion-Dollar Outcomes?<br /> 31:00 Is "Big Tech Will Buy Us" a Dangerous Investment Thesis?<br /> 36:00 Why Invest in Venture When You Can Just Buy the Magnificent Seven?<br /> 45:00 When Should You Sell a 40x Winner—and When Should You Double Down?<br /> 54:00 Can a $50 Million Fund Still Compete With the Venture Giants?<br /> 58:00 Quickfire: Is Benchmark Harder to Beat Than Sequoia?</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Chase Lochmiller is the Co-founder and CEO of Crusoe. Crusoe builds and powers the data centres that companies use to train and run AI. It has raised approximately $6.4 billion in equity, including its latest $3.9 billion Series F at a $30.9 billion valuation. Its backers include NVIDIA, Founders Fund, Gavin Baker's Atreides Management, Mubadala Capital and Valor Equity Partners.</p> <p>AGENDA:</p> <p data-pm-slice="1 1 []">04:40 What Does Climbing Everest Teach You About Building a Company?<br /> 17:40 What's Really Stopping Us From Building Enough AI Data Centres?<br /> 25:50 Are Data Centres Really Driving Up Your Energy Bills?<br /> 28:05 Will Half of Planned AI Data Centres Never Get Built?<br /> 32:10 How Quickly Can a GPU Pay for Itself?<br /> 38:35 Will Your GPUs Become Obsolete Before You've Paid Them Off?<br /> 44:20 What Does It Take to Produce the Cheapest Intelligence?<br /> 49:50 Will Companies Building Their Own Models Eat Into OpenAI's Business?<br /> 51:55 Can You Build a $30B Company and Still Be a Great Dad?</p> <p data-pm-slice="1 1 []"> </p>

<p><span style= "text-decoration: underline;"><strong>AGENDA:</strong></span> </p> <p data-pm-slice="1 1 []">00:00 Highlights: Jack Altman Joins The Trio<br /> 05:00 Anthropic's S-1 Leaks: $8B Operating Loss and $518B in Compute Commitments<br /> 10:00 Instinct Raises $1B at a $10B Valuation to Take On Meta<br /> 25:00 AMD Buys Fei-Fei Li's World Labs for $8.2B<br /> 39:00 Meta Poaches MongoDB's CEO as Shares Plunge 20%<br /> 43:00 AI Startup Seeks $10B Valuation Just One Week After Seed<br /> 47:00 Modal Hits $15B Valuation as Baseten Eyes $26B<br /> 54:00 OpenAI Reopens Its $200 Plan—and Halves What You Get<br /> 57:00 Oura Pulls IPO After Targeting a $16B Valuation<br /> 01:03:00 Nubank Eyes $8–12B Monzo Takeover<br /> 01:08:00 Bessemer Raises $5.75B as NFX Switches to Its Own Capital<br /> 01:14:00 Anthropic Founders Move to Lock In 50.1% Voting Control</p> <p data-pm-slice="1 1 []"> </p>

<p data-pm-slice="1 1 []">Alex Mashrabov is the Founder and CEO of Higgsfield, the third fastest scaling company to $1BN in ARR behind OpenAI and Anthropic. Reports suggest their latest funding round could place an $8BN valuation on the company. Prior to Higgsfield, Alex sold his prior company to Snap Inc for $166M. Alex was a competitive programmer as a kid, reaching third best in the world.</p> <p data-pm-slice="1 1 []"><strong>AGENDA: </strong></p> <p data-pm-slice="1 1 []">00:00 The Programming Prodigy Who Sold to Snap for $166M<br /> 09:00 Burning $10M: The Pivot That Saved Higgsfield<br /> 12:00 A $1B Revenue Run Rate in 18 Months; How Real Is It?<br /> 16:00 Will OpenAI and Google Wipe Out $20 AI Subscriptions?<br /> 21:00 Are AI Labs Gaming the Benchmarks?<br /> 28:00 Spending $4M a Month on AI; Genius or Insanity?<br /> 36:00 Are AI Moats Bullshit? The Great "Wrapper" Debate<br /> 43:00 One Full Day With His Son in Three Months: The Cost of Ambition<br /> 54:00 Quickfire: Is Snap Broken—and Will HubSpot Survive AI?<br /> 01:02:00 $10B in the Next 12 Months? Alex's Audacious Growth Bet</p> <p data-pm-slice="1 1 []"> </p>