Keen On America Two VCs, No Filter: The Naked Truth about Elon Musk and Sam Altman
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Dec 5, 2025 
In this engaging conversation, venture capitalists Dave McClure and Aman Verjee share insights from their 25-year friendship and partnership. McClure portrays Sam Altman as a fiercely competitive strategist not to be underestimated. Verjee dives into the rivalry between Altman and Elon Musk, analyzing their personal brands and the competitive dynamics of Silicon Valley. They also discuss OpenAI's challenges, Google Gemini's advancements, and the implications of tech billionaires on politics, all laced with McClure’s trademark bluntness.
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AI Reignited Silicon Valley
- AI dominates Silicon Valley conversation and re-accelerated interest after ChatGPT's launch.
- Dave McClure says 80% of conversation is about AI and the surge revived the Valley's energy.
From Developer To 500 Startups
- Dave McClure recounts his path from developer to PayPal to founding 500 Startups.
- He explains transitioning to secondaries to get liquidity as portfolio companies aged.
Secondaries As Startup Liquidity Market
- Secondaries act like a used-car market for startup shares, providing liquidity before exits.
- Dave says they buy positions from existing shareholders who want cash while companies haven't exited yet.