The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Tiger Global Saved by OpenAI | Coatue's New Fund: Hype or Substance | Why SBF is the Greatest Investor of the Last 5 Years | Why Big Funds are Investing in Perplexity
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May 15, 2025 
Jason Lemkin, founder of SaaStr, and Rory O'Driscoll, partner at Coatue, dive into the fast-paced world of venture capital. They explore how Tiger Global might leverage OpenAI for a comeback, debate the merits of investing in AI companies like Perplexity, and discuss why cryptocurrency whiz Sam Bankman-Fried is deemed an exceptional investor. The conversation also highlights the impact of AI on sales and marketing, pressing companies to innovate rapidly amidst competitive market pressures.
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Series A Is Highly Competitive
- Series A funding is highly competitive and down 81% recently.
- Only truly high-performing startups get funded; mediocre ones should improve first.
Rory's Cancer and Venture Return
- Rory O'Driscoll battled stage four colon cancer while continuing to work.
- His love for venture and meaningful work pulled him back despite health challenges.
Tiger Global's Potential Redemption
- Tiger Global's heavy 2021 deal volume was a strategic mistake.
- Their stakes in OpenAI and Scale could potentially save underperforming funds.