The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Databricks at $100BN | Chamath’s SPAC Revival: Peak Mania? | OpenAI Staff Cash Out Billions & Sam Altman Will Spend Trillions | CoreWeave’s $11B Debt Bet & Nubank’s $2.5B Profit Shocker
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Aug 21, 2025 Databricks has hit a staggering $100 billion valuation, raising questions about whether it's a bubble or the future of tech. Discussions dive into the potential of the biggest IPO wave ever and how investors may profit. The return of Chamath's SPACs signals possible market frenzy. OpenAI employees cashing out sparks debates over loyalty versus financial incentives. Meanwhile, Nubank's impressive $2.5 billion profit leads to comparisons in fintech evolution, and CoreWeave grapples with $11 billion in debt, weighing risks against ambitious growth in the AI landscape.
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Databricks Valuation Is Growth-Driven
- Databricks at $100B reflects the new scale of private AI-era winners and barely surprises seasoned investors.
- Its 25x revenue multiple can be reasonable if 50% growth persists for several years.
High Multiples Depend On Growth Persistence
- Paying 25x run rate is a bet on multi-year growth persistence rather than a static multiple.
- If growth decays abruptly, high multiples quickly re-rate to normal company levels.
Hold Great Infrastructure Bets Long
- If you back generational infrastructure winners and hold through a decade, returns can be massive.
- Follow-on commitment and conviction often require putting large dollars in early and holding long.