Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more.
Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others.
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Timestamps:
00:00 Intro
01:25 Anthropic freezes secondary sales, requiring board approval for all transfers
06:55 Why Anthropic is buying capacity from Elon Musk
12:21 Anthropic’s massive $200B revenue commit to Google
16:03 Goldman Sachs predicts a 24x surge in token consumption driven by agents
27:46 Will AI labs eat the app layer? The threat to Legal and CX verticals
37:10 SaaS public markets: HubSpot tanks 18% while Monday.com finds its footing
41:47 Growth theft: How Clay is commoditizing ZoomInfo’s data business
46:31 Cerebras prices IPO at $150–$160 with a $48B market cap
52:10 Real Venture Capital: Celebrating the early bets by Foundation and Benchmark
58:05 Ramp’s valuation vs the Chapter 7 collapse of e-commerce card Parker
01:09:15 Success and Sacrifice: Is mental health the price of building a $20B company?
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Legal Disclaimer:
The content of this podcast is for informational and entertainment purposes only and does not constitute financial or investment advice. Any discussion of stocks, public markets, or investment strategies reflects the personal opinions of the speakers and should not be relied upon when making investment decisions. Figures, valuations, and financial data referenced may be estimates or subject to error. Always consult a qualified financial adviser before making any investment decision. The views expressed are those of the individual speakers and do not represent the views of 20VC or its affiliates.
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