The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Nick Chirls, Founder of Asylum Ventures, critiques the current state of venture capital, calling it a Ponzi scheme where creativity is stifled. He highlights how most VCs prioritize rapid capital deployment over meaningful investments, echoing the pitfalls of traditional banking. Chirls shares insights on making profitable investments in overlooked markets and the importance of treating founders like artists. He argues that relationships and trust within the VC landscape are crucial for real success, moving beyond mere capital to build valuable partnerships.

Zico Colter, a professor and the director of the Machine Learning Department at Carnegie Mellon University, discusses AI's biggest bottlenecks. He delves into data utilization, the diminishing returns of compute power, and looming algorithmic challenges. Zico critiques prevalent concerns about AI safety, urging listeners to focus on overlooked risks while navigating an AI-centric world. The conversation touches on the transformative role of AI technology and the urgent need for effective regulation to ensure alignment with human interests.

Scott Gorlick, employee #99 at Uber, shares insights from his six years driving the company's growth. He reveals the driver acquisition playbook that brought in 1 million drivers and the unique strategies for expanding into new markets. Gorlick discusses how promotions influenced demand and why Uber often let Lyft test markets first. He reflects on leadership lessons learned from Travis Kalanick and the possible trajectory Uber could have followed under his guidance, highlighting the culture and followership he cultivated.

Arvind Narayanan, a Princeton professor and co-author of "AI Snake Oil," challenges the myth that simply adding more compute equates to better AI performance. He emphasizes that data quality, not just volume, is crucial for advancements in AI. The conversation dives into the future of AI models, debating whether we'll have a few large dominant models or many specialized ones. Narayanan critiques current generative AI pitfalls and stresses the importance of genuine user experiences over misleading benchmark scores. His insights offer a fresh perspective on AI's evolving landscape.

Imran Khan, Founder and Chief Investment Officer of Proem Asset Management and former Chief Strategy Officer at Snap Inc., shares his expertise on the IPO market and startup valuations. He discusses why revenue multiples are misleading and emphasizes the need for founders to adapt their strategies. Imran also critiques the current M&A landscape and how regulatory pressures hinder deal-making. With insights drawn from his experience with Alibaba and Snap, he provides invaluable advice about sustainability and investor expectations in today's market.

Chad Peets, a renowned sales leader and recruiter, shares his insights from building Snowflake's successful sales team. He emphasizes the critical need for a Chief Revenue Officer even before a product launch, challenging the notion that founders should handle sales alone. Peets discusses why most sales reps struggle to perform, the importance of effective comp plans, and the pitfalls of poor hiring practices. He also highlights the evolving dynamics of sales talent in remote work environments, advocating for in-office collaboration to drive success.

Aman Narang, Co-founder and CEO of Toast, shares incredible insights from scaling his company to a $14BN market cap. He discusses the common pitfalls founders face, like the importance of early fundraising and proactive hiring. Aman reveals Toast's rapid rise, citing key decisions that fueled their growth and mistakes they learned from. He emphasizes the role of culture in leadership and explores how data and AI can revolutionize the restaurant industry. Tune in for valuable lessons on resilience and innovation!

Aidan Gomez, Co-founder and CEO of Cohere, shares insights on the evolving landscape of AI. He discusses the critical balance between compute and data, arguing that more compute may not always equate to better performance. Aidan critiques the current value assigned to AI models, suggesting a race to the bottom in pricing led by OpenAI. He emphasizes the significance of quality data and the challenges of training AI with limited human-like reasoning. Additionally, he explores the future of the synthetic data market and the importance of privacy in enterprise AI adoption.

Laela Sturdy, Managing Partner at CapitalG, is a powerhouse in the venture capital world with a rich background at Google and YouTube. She shares invaluable lessons learned over a decade of investing, revealing her biggest misses and how companies like Stripe and UiPath shaped her investing perspective. Laela dives into the intricacies of building a unicorn, discussing market timing, sizing, and the risks of a company's 'second act.' Her insights stress the importance of leadership and adaptability in navigating today's dynamic investment landscape.

Kaz Nejatian, Shopify’s VP of Product & COO, shares valuable insights from his experiences at Facebook and with industry leaders like Mark Zuckerberg, Keith Rabois, and Tobi Lütke. He critiques the 'Lean Startup' model and its impacts on software quality while emphasizing why developing internal tools is vital for product excellence. Kaz also discusses the complexities of remote work and hiring, along with the surprising truths about marriage's influence on success. His perspectives offer a fresh take on achieving greatness in both business and personal life.