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

David Luan, CEO and co-founder of Adept, shares insights from his experience at OpenAI and Google Brain. He argues that the performance of foundation models isn't diminishing and predicts a consolidation to just 5-7 leading providers. Luan discusses the evolving relationship between AI models and computing hardware, suggesting that companies like Nvidia must adapt to remain competitive. He also delves into the transformative nature of intelligent agents versus traditional automation, and the future implications of AI on pricing models and user capabilities in the workplace.

Val Scholz, former Head of Growth at Revolut, shares his expertise in scaling user acquisition to 10 million. He reveals key lessons from Revolut’s success and highlights the importance of referral marketing and innovative signup strategies. Val discusses the shortcomings of traditional marketing and offers fresh approaches for startups. He emphasizes data-driven decisions, effective hiring practices, and the role of influencer partnerships in driving growth. Get insights into building high-performance teams and revolutionizing product marketing in today’s competitive landscape.

Michael Eisenberg, co-founder and GP at Aleph, dives into the rapid depreciation of foundation models in AI, suggesting they may be the worst investment ever. He challenges the notion that private equity will save the M&A market and discusses the potential IPO landscape. Eisenberg raises alarms about Lina Kahn's threat to capitalism and explores the competitive dynamics between the US and China in AI. He also reflects on lessons from the dotcom era, emphasizing the need for startups to adapt in an evolving tech landscape.

Danny Rimer, a Partner at Index Ventures and a pivotal figure behind successes like Figma and Discord, opens up about his biggest investment misses, including Airbnb and Facebook, sharing invaluable lessons. He dismisses conventional wisdom around valuations and market size, labeling them as mental traps and noise. Rimer advocates for focusing on exceptional founders and product quality rather than chasing trends, emphasizing that the best investment opportunities exist beyond traditional IPO windows. His insights blend experience with a candid evaluation of the venture capital landscape.

Janie Lee, the Head of Product at Loom, shares her rich background from Rippling and Opendoor, highlighting key lessons in product management and hiring. She dives into what makes a truly great PM, focusing on essential skills like effective communication and questioning. Janie also discusses the balance between product breadth and quality, detailing insights on pricing strategies and talent density from her experiences. Plus, she offers invaluable advice for structuring PM interviews and nurturing talent within product teams.

Alex Wang, Founder and CEO of Scale AI, delves into the critical role data plays in AI's future performance. He argues that data, not compute, is the main bottleneck for foundation models. The discussion pivots to AI as a formidable military asset, potentially surpassing nuclear weapons, and examines China's approach to industrial policy in AI development. Wang challenges the notion that China lags behind the U.S. in AI, exploring innovations in the Chinese EV market and the implications of these geopolitical dynamics.

Reid Hoffman, Co-founder of LinkedIn and Inflection AI, dives deep into the world of artificial intelligence and venture capital. He discusses the commoditization of foundation models and sustainable business models for their success. Hoffman shares insights from his time on the OpenAI board, including key lessons learned. The conversation takes a turn towards the implications of TikTok for U.S. democracy and the challenges incumbents face in the rapidly evolving tech landscape. A rich discussion on corporate strategy and leadership adds further intrigue.

Ashley Kelly, VP of Global Sales Development at Rippling, has a remarkable track record, scaling sales teams at top tech companies. She dives into her unconventional transition from NASCAR to sales and shares why she believes the best Account Executives start as SDRs. Ashley discusses the evolving role of AI in outbound sales and the crucial first sales playbook founders should create. She offers insights on hiring strategies, the critical qualities SDRs must possess, and her biggest hiring lessons learned along the way. Tune in for practical tips on building successful sales teams!

Aravind Srinivas, Co-founder and CEO of Perplexity AI, shares his insights from prestigious stints at OpenAI, Google, and DeepMind. He delves into the next AI breakthrough in reasoning, questioning whether we are hitting diminishing returns on model performance. Aravind discusses the commoditization of foundation models, predicting shifts in the competitive landscape, and explores the challenges of monetizing AI services. With fascinating anecdotes about talent acquisition and high-quality data, he paints a vivid picture of the future of AI technology.

Jason Lemkin, an early SaaS investor and founder of the SaaStr community, shares insights on the shocking collapse of PluralSight and its implications for the tech market. He discusses Salesforce's staggering market drop and MongoDB’s struggles, noting a shift to slower growth for many SaaS companies like Dropbox. Lemkin argues that the current venture capital landscape is broken, highlighting the need for reevaluation of investment strategies amidst a liquidity crisis, while also addressing common mistakes founders make in fundraising.