The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Cursor Raises $2.3BN: Who Wins the Coding War | Peter Thiel and Softbank Sell NVIDIA: Analysed | Why Venture Capital Will Hit $1TRN and the Opening of Retail | Why Stripe and the Best Companies Will Never Go Public
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Nov 20, 2025 Cursor's $2.3 billion funding round sparks a debate over coding productivity and market potential. The panel analyzes the implications of SoftBank and Peter Thiel selling NVIDIA, questioning whether this signals a market top. They explore why top companies like Stripe might never go public, focusing on private liquidity and the evolving landscape of venture capital. As retail access grows, they predict a surge in funding, while discussing potential risks and long-term accountability for investors.
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Agentic Coding Is Becoming Default
- Agentic coding delivers 30–70% productivity gains and can become the default way developers work.
- That makes coding agents a massive TAM and justifies high valuations like Cursor's $29B in this market view.
Coding AI Moves From Nice-To-Have To Necessary
- Developers will treat coding AI as necessary infrastructure rather than optional productivity tools.
- That shifts pricing and penetration dynamics toward near-universal adoption and huge total revenue potential.
Margins And Platform Risk Are The Key Negatives
- The two core risks for high valuations are gross margins and durability against model/platform competition.
- Platform reliance on third-party large models creates both margin pressure and supplier-competitor risk.