Liquidity

E14: Major challenger to OpenAI, xAI, closing on $6B in funding

May 6, 2024

Joshua Berkowitz, Donald Stalter, and Jason Calacanis discuss Elon Musk's $6B funding for xAI, Sequoia's $6B AI round, PitchBook's report on Emerging Managers, SVB's venture portfolio, impact of investor attitude on founders, lightning round of last 3 investments, and more.

01:01:44

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Episode guests

Jason Calacanis

Donald Stalter

Joshua Berkowitz

AI Summary

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

X AI secured $6B in funding as a major rival to OpenAI, highlighting the capital-intensive AI landscape.

Emerging managers in venture capital outperform established ones, emphasizing diversification and evolving fund trends.

Investor alignment and commitment in venture capital is lacking compared to private equity, potentially leading to misaligned interests.

Deep dives

Transition of Nick Teams from the Past to the Present

The podcast episode delves into the speaker's nostalgic reflection on past Nick teams, highlighting moments during the Carmelo era and the 90s with players like Patrick Ewing, Littrell Sprewell, and Alan Houston. The speaker expresses admiration for the current Nick team, emphasizing their heart, grit, and lack of top draft picks, particularly drawing attention to their victory over MVP Philadelphia and joking about owning Philadelphia.

Introduction

3min

Elon Musk's AI Ventures and Networking Skills

9min

Venture Capital Investment Strategies and Fund Manager Dynamics

29min

Acquisition and Investment Dynamics

12min

Views on Internships, Startup Experience, and Fund Management Training

2min

Poker, Investments, AI, and Retail Platform Insights

5min

The Power of Connections and Continuous Improvement

2min

Todays show:

David Weisburd hosts Joshua Berkowitz, Donald Stalter and Jason Calacanis to discuss Elon Musk raising $6B for his new AI startup (4:44), PitchBook's report on Emerging Managers (16:04), SVB’s venture portfolio situation (40:16), and much more!

Timestamps:

(0:00) David Weisburd intros Joshua Berkowitz, Donald Stalter and Jason Calacanis

(4:44) xAI raises $6B

(11:49) Sequoia leading a $6B round for AI

(16:04) PitchBook's report on Emerging Managers

(27:02) The impact of the surge of venture capital in 2021 and its implications for the ecosystem

(34:16) The impact of a positive investor attitude on founders

(40:16) The Silicon Valley Bank (SVB) venture portfolio situation

(45:39) Lightning round of last 3 investments

Mentioned on show:

https://www.axios.com/2024/05/03/svb-venture-capital-arm

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