Sam Lessin is a Co-Founder and Partner @ Slow Ventures with a portfolio including the likes of Airtable, Robinhood, Slack, Solana, PillPack and many more unicorn companies. Prior to Slow, Sam was a VP Product at Facebook having sold his company to Meta. Frank Rotman is a founding partner of QED Investors, one of the leading fintech-focused venture firms investing today with a portfolio including the likes of Klarna, Kavak, Quinto Andar, Credit Karma and more. As for Frank, prior to QED, Frank was one of the earliest analysts hired into Capital One and spent almost 13 years there helping build many of the company’s business units and operational areas.  Jason Lemkin is the Founder @ SaaStr one of the best-performing early-stage venture funds focused on SaaS. In the past, Jason has led investments in Algolia, Pipedrive, Salesloft, TalkDesk, and RevenueCat to name a few. Prior to SaaStr, Jason was an entrepreneur, selling EchoSign to Adobe for $100M where it is now a $250M ARR product. In Today's Discussion on Why Seed is Broken We Discuss: 1. The Seed Model Was Broken and What Comes Now: Why does Sam Lessin believe the model for seed of a "factory line" was broken? What does he believe will replace it? Why does Jason Lemkin argue that this might not be the case for SaaS and enterprise? 2. Round Construction: YC, Multi-Stage Funds and Party Rounds: Why does Sam Lessin believe we have seen the end of party rounds? Why does Jason Lemkin disagree and we will see more than ever? Why does Sam Lessin believe the factory model of YC churning out companies is over? Where does Jason Lemkin believe the value lies in the YC model? Will the multi-stage funds remain in seed? How has their entrance and deployment changed the seed market? 3. VC Value Add at Seed: Is it BS? Why does Jason believe all talent arms in venture firms have failed? Why does Sam believe that no VCs provide value? Do the best founders really need help? Why do Jason and Sam disagree? 4. What Happens Now: Why does Jason believe that every manager can write off their fund from 2021? Who will be the winners in seed in the next 10 years? Why does Sam believe if you want to bet on AI, just bet on Meta or Microsoft? What will happen to the many companies with no PMF but 10 years of runway?

Sam Lessin, General Partner at Slow Ventures and former VP of Product at Facebook, discusses the drawbacks of the factory system of venture capital, reflections on past predictions, the changing landscape of venture capital, the growth and consolidation of companies, lower variance careers, the current state of the crypto industry, the role of journalism in the tech industry, and the shift towards niche cultures and unconventional investing.

Sam Lessin, General Partner at Slow Ventures and former VP of Product at Facebook, discusses the end of the factory system in venture capital, the future of successful businesses, and flaws in the financing structure. They explore the evolution of venture capital, the consolidation of power in the tech industry, the impact of AI, VR, and crypto, and the shift towards niche communities and weird ventures.

In this episode, Nathan Labenz and Erik Torenberg host a discussion between Emad Mostaque, founder of Stability AI, and Sam Lessin, GP of Slow Ventures and former VP Product at Facebook. These influential technology thinkers tackle topics pertinent to evaluating whether AI is a good investment for venture capital. They talk about the attention and information economy, SaaS markets, how AI-created entertainment will impact society and our relationships, and AI disruption of highly-regulated industries.We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.LINK FOR NATHAN'S LIVE EVENT IN SAN FRANCISCO:Friday June 16th: Why AI with Athena: https://v4p9mjmurpv.typeform.com/to/llRcJSF9TIMESTAMP:(00:00) Episode Preview(01:17) Nathan explains why we hosted a conversation with Emad and Sam(08:25) Discussion kicks off: AI as an extender rather than a deck shuffler(12:01) Is AI a disruptive or sustaining innovation?(14:22) What is intelligence?(16:00) The attention and information economy(21:56) Storytelling, the stock market, and the economy(23:23) Sponsor: Omneky(23:50) AI in the media industry, Hollywood, and distribution(29:10) Startups vs incumbents(30:30) Disrupting highly-regulated industries(32:30) AI in education: an AI tutor for every child(35:15) AI as StackOverflow 2.0 for engineers(37:23) Regulatory Arbitrage(40:06) The oracle problem in AI(42:00) Apple as the weakest BigTech player in AI(44:30) AI in communities and the future of social media(46:55) Replika on Valentine’s Day and AI-generated porn(53:50) How does the market for inference shape up? Inference vs. cloud(55:08) Price of primary care in US in the next decade(55:38) What are the most likely incumbents to be disrupted?(56:55) Will BigTech continue to opensource?(58:56) Marriage rate in US in the future given AI(01:00:24) Can any AI leader sustain high gross margins in the future?(01:02:04) Stability’s business modelTWITTER:@EMostaque (Emad)@Lessin (Sam)@CogRev_Podcast@labenz (Nathan)@eriktorenberg (Erik)SPONSORS:Shopify is the global commerce platform that helps you sell at every stage of your business. Shopify powers 10% of ALL eCommerce in the US. And Shopify's the global force behind Allbirds, Rothy's, and Brooklinen, and 1,000,000s of other entrepreneurs across 175 countries.From their all-in-one e-commerce platform, to their in-person POS system – wherever and whatever you're selling, Shopify's got you covered. With free Shopify Magic, sell more with less effort by whipping up captivating content that converts – from blog posts to product descriptions using AI. Sign up for $1/month trial period: https://shopify.com/cognitiveThank you Omneky for sponsoring The Cognitive Revolution. Omneky is an omnichannel creative generation platform that lets you launch hundreds of thousands of ad iterations that actually work, customized across all platforms, with a click of a button. Omneky combines generative AI and real-time advertising data. Mention "Cog Rev" for 10% off.This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.Download this episode as an mp3: https://chrt.fm/track/993DGA/traffic.megaphone.fm/RINTP2126380296.mp3?updated=1686676812Music Credit: MusicLM

Emad Mostaque and Sam Lessin discuss the investment potential of AI, its impact on consumer product experiences, banking, media, and entertainment industry. They also explore the future of inference and market predictions, the effects of AI companions on marriage and birth rates, and the sustainability of AI business models.

Sam Lessin, GP at Slow Ventures and former Facebook product manager, discusses the state of venture capital, the influence of megafunds like Tiger Global and Softbank, the best areas for investment in 2024, investing in AI, 'weird' investment ideas, and the changing global landscape of tech.

Sam Lessin and Seth Rosenberg debate the effects of AI on incumbents and the next wave of AI-first products. They discuss AI-first networks and marketplaces, the advantages of incumbent software companies, and the potential outcomes of investing in AI startups. The speakers also emphasize the importance of defensibility and network building, discuss the role of AI in startups and business, and conclude with closing remarks and an ad for Turpentine VC.

In conversation with Sam Lessin, a General Partner at Slow Ventures and former VP at Facebook, intriguing insights unfold. He discusses the significant values shaping venture capital, revealing how family influences investment decisions. Sam weighs in on the chaos of AI, the evolution of trust in a digital world, and the state’s role in regulating technology. He highlights the promise of decentralized systems like cryptocurrency and reflects on his experiences at Harvard, advocating for proactive change amidst challenges.

Ami Daniel, CEO of Windward, shares his firsthand experiences during the October 7th attacks and highlights the courageous civilian rescue efforts. Izhar Shay, whose son Yaron was killed, unveils the 'Next October' initiative to honor victims through startups. Eyal Waldman reflects on the loss of his daughter, emphasizing the need for peace. Stefan Thompson advocates for moral clarity in conflict, while Sam Lessin critiques higher education’s societal impact, stressing the importance of resilience and innovation in rebuilding after tragedy.

In this discussion, Sam Lessin from Slow Ventures, an investor shaping the future of venture capital, sheds light on the transformative impact of generative AI. He emphasizes the shift towards sustainable business practices and strategic mergers in the tech landscape. The conversation also dives into the competitive dynamics in AI investments, highlighting the tension between major players like Amazon and Anthropic. Lessin underscores the importance of authenticity in tech, as American entrepreneurs navigate these evolving opportunities.