The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Sequoia's Leadership Transition | Michael Burry Shorts NVIDIA and Palantir | Gamma Raises $100M at $2BN | Has Defensibility Died in a World of AI | Datadog Surges as Duolingo Plummets: What is Happening
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Nov 13, 2025 Discover the implications of Sequoia's leadership transition and how it might reshape venture strategies. Dive into Michael Burry's bold short positions on NVIDIA and Palantir, exploring the challenges of betting against AI darlings. Hear about Gamma's impressive $100M raise at a $2BN valuation, signaling rapid growth in AI-powered solutions. The hosts debate the existence of defensibility in a world where copying is easy and unpack the contrasting fortunes of Datadog and Duolingo in the evolving tech landscape.
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Top Firms Also Feel AI Pressure
- Sequoia's leadership change signals even top firms feel pressure to adapt quickly to AI-era competition.
- Organizational agility and willingness to make hard personnel changes matter more than prestige.
Math Made Burry's Short Brutal
- Rory analyzed Michael Burry's short and found timing makes shorting AI CapEx extremely hard.
- Buying short-dated puts required precise calls within weeks to profit, making the trade very risky.
AI Revenue Is Real Today
- Revenue from AI is already material and rising, so worries about demand are overstated.
- Debate now centers on magnitude and duration of CapEx rather than whether demand exists.