The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Why VC Today is Worse Than 2021 | Why Vertical SaaS is a Bad Investment Today | Why We Are Deluding Ourselves on Growth Expectations | Revolut Raises $3BN at a $75BN Valuation | Benchmark Adds Their Newest General Partner
494 snips
Oct 23, 2025 The hosts dive into the challenges facing venture capital today, revealing why the current landscape mirrors the 2021 hype. They discuss Revolut's staggering $3BN raise at a $75BN valuation and question the sustainability of such forecasts. Insights on the perils of investing in vertical SaaS are shared, emphasizing that over-romanticizing these opportunities may lead to disappointment. The conversation also covers the impact of AI on various sectors and whether rising capital intensity and infrastructure needs could lead to a future compute glut.
AI Snips
Chapters
Transcript
Episode notes
Use Carry And Fund Access To Attract Talent
- When hiring GP talent from peer firms, ensure carry and fund access are competitive to attract top candidates.
- Rory highlights Benchmark's strategy of hiring promising partners into rich carry pools as effective.
Longer Private Lifecycles Inflate TAM Risk
- Staying private longer raises the bar for TAM because companies must reach larger revenue before public exit.
- Jason warns TAM exhaustion is more visible now and founders must run faster to avoid it.
AI Creates A Short-Term 'Everyone Is Buying' Illusion
- The AI boom is creating a false signal where "everyone is in market" now, similar to 2020's temporary rush.
- That surge can mislead investors into overfunding vertical niches that later face adoption slowdowns.