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
00:57 Coinbase Cuts AI Spend 50%
07:09 Is Open Source Killing Frontier Model Revenue Growth?
11:16 Token ROI Crisis: Nobody Can Show the Lift From AI Spend
17:22 Anthropic Accuses Chinese Models of Distillation
20:19 Anthropic’s Real Play: Get the US Government to Ban Chinese Open Source Models
28:30 Microsoft Deep Dive: Growth Decelerating & No Standalone AI Product
33:14 Microsoft Has 30% of OpenAI But No State-of-the-Art Model of Its Own
38:51 Kalshi’s $40BN Valuation: Is This Peak Casino Economy?
41:13 Prediction Markets: Sports Betting vs Financial Betting
44:03 SpaceX IPO Volatility: Does It Delay the Anthropic & OpenAI IPOs?
45:04 Bending Spoons IPO at $20BN
47:06 The Bending Spoons B2B Opportunity: Who Buys Broken SaaS Next?
58:22 Chamath Goes CEO: Can a VC Billionaire Actually Grind a Startup?
1:01:24 Harry’s Controversial Tweet
1:11:07 Claude Tag in Slack: Existential Threat to Salesforce or Just an Entry Point?
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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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