The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC Exclusive: Why Mega Platforms Will Win in VC | Why You Cannot Do VC If You Do Not Do Pre-Seed | Why Market Sizing is BS | Where Will Foundation Models Build/Buy Apps vs Where Will They Not with Bucky Moore
May 5, 2025
Bucky Moore, a Partner at Lightspeed Venture Partners and former executive at Kleiner Perkins, dives into the future of venture capital. He argues that mega platforms will dominate investments over the next decade and critiques traditional market sizing methods as ineffective. Moore discusses the importance of pre-seed investments, the complexities of pricing in an AI-driven world, and how to discern winning companies in highly competitive markets. His insights on AI's transformative potential and the need for genuine relationships in investment provide a fascinating perspective.
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Quick takeaways
- Mega platforms in venture capital have a competitive edge due to substantial capital reserves, enabling larger investments in trillion-dollar potential companies.
- The shift in investment focus emphasizes the importance of early-stage investing and nurturing relationships with entrepreneurs to stay aligned with market innovation.
Deep dives
Expanding Outcomes and Investment Metrics
The discussion highlights a shift in the venture capital landscape, moving from traditional investment outcomes of 30 to 50 billion dollars to multi-trillion dollar evaluations, exemplified by companies like SpaceX and OpenAI. This dramatic increase in potential outcomes emphasizes the importance of rigorous evaluation and market sizing, which can often be imprecise. Investors are now encouraged to consider not just the vast market but also the innovative nature of these companies driving exceptional growth rates, exceeding 100% year over year. The focus is on understanding the evolving dynamics of investment that prioritize significant scale and team capability over conventional metrics.
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