The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Opendoor's CEO on The Greatest Turnaround in Tech | OpenAI and Oracle: How Can Either Afford to Do This | How Anthropic Could Lose 50% of Their Revenue Overnight | Replit Raises at $3BN | Figure, Gemini & VIA IPOs Broken Down
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Sep 18, 2025 The new CEO of Opendoor discusses the company's ambitious turnaround and the challenges of being labeled a meme stock. Tensions rise as Oracle and OpenAI announce unexpected partnerships, prompting speculation about power dynamics in tech. A potential revenue crisis looms for Anthropic, which could lose half its income suddenly. Meanwhile, Replit secures new funding at a high valuation, showcasing a shift in AI-driven growth. Finally, there's a rundown of recent IPOs and market predictions, sparking excitement in the tech space.
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Market Values Potential Not Current Cashflow
- Opendoor is priced for its potential rather than current cash flow.
- Kaz believes that discounting potential is how public markets and VCs value startups.
Leaving Comfort For Mission
- Kaz left Shopify despite a long tenure because he saw Opendoor's mission as vital.
- He believes making home transactions easier will leave a societal dent worth pursuing.
Prioritize Mission Over Short-Term Risk
- Prioritize mission-driven product decisions over short-term risk avoidance.
- Build products that deliver enduring value and profits will follow, Kaz argues.