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#95: OpenAI’s Social Network & Figma’s Potential IPO

44 snips
Apr 18, 2025
Joining the discussion are Ben Lerer, Managing Partner at Lerer Hippeau Ventures, a key player in shaping New York's tech scene, and Morgan Beller, General Partner at NFX and co-creator of Libra, who brings deep insights into blockchain. They tackle OpenAI's ambitious plans for a social network, the financial complexities of tech startups, and the evolving landscape of venture capital. Plus, they explore the risks of space travel and ponder: would you take a ticket to Mars?
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INSIGHT

East Coast vs West Coast VC

  • New York and Silicon Valley have distinct venture ecosystems with different market focuses.
  • New York leans towards application layer companies, while Silicon Valley is infrastructure-centric.
INSIGHT

OpenAI's Expansion Strategy

  • OpenAI is acting like a billion-user consumer internet company by expanding into social and other products.
  • This trajectory aligns with adding services like messaging and social networks integrated with AI.
INSIGHT

Investment Doubts on OpenAI

  • Most investors declined to invest in OpenAI’s recent round due to its huge cash burn and valuation.
  • Despite doubts, OpenAI dominates the zeitgeist and may defy traditional investment patterns.
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