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

Harry Stebbings
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The Twenty Minute VC (20VC) interviews the world's greatest venture capitalists with prior guests including Sequoia's Doug Leone and Benchmark's Bill Gurley. Once per week, 20VC Host, Harry Stebbings is also joined by one of the great founders of our time with prior founder episodes from Spotify's Daniel Ek, Linkedin's Reid Hoffman, and Snowflake's Frank Slootman. If you would like to see more of The Twenty Minute VC (20VC), head to www.20vc.com for more information on the podcast, show notes, resources and more.

  1. 20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder

    3H AGO

    20VC: Turning Peter Thiel's $100K into $10M Angel Portfolio | The One Man Accelerator at The Four Seasons | Why VCs Can Be Sharks and What Founders Need to Know | Why Stocks and Cash are BS and You Should Invest in Land with Josh Browder

    Josh Browder is my favourite emerging manager. As the Founder of Browder Capital he has been the first check into unicorns like Micro1, Owner.com and Yuzu Health to name a few. He turned his Thiel Fellowship Grant of $100K into a whopping $10M angel portfolio. All new investments move into Josh's Four Seasons Residence where he then trains them on company building. They are only allowed to leave when they raise their seed round. In addition to this, Josh is the Founder & CEO @ DoNotPay, the now profitable company that has raised $22M from Marc Andreessen and others.  AGENDA: 00:00 Why I believe young founders make the best founders 02:10 What do I look for in founders I'm investing in? 10:00 How I test for founder commitment pre-investment 11:00 What do I want to see in the childhoods of the entrepreneurs that I back? 12:05 Why I make founders live with me in my Four Seasons residence after investing 14:00 There are three reasons why pre-seed companies fail and how I solve for them 15:45 What do I look for in a team to assure me they will last? 16:50 Is $5 million post still attainable in this world? 17:15 Should we be worried about the increasing levels of fraud at the early stages? 18:10 Which Silicon Valley investor was the most impressive? 20:00 Do VCs really add value? 20:50 Does university carry less value than ever and should founders drop out if they have a dream and an idea? 24:00 The advice of one lawyer changed the entire trajectory of this multi-million dollar company 28:10 I would never invest in someone that I met over Zoom 29:20 Are all the best founders you invest in delusional? 31:10 What is the biggest benefit of being a Thiel Fellow? 36:20 The problem of accelerators and why artificial constraints can enforce quality 38:20 How we used Mark Zuckerberg's house as a viewing instrument tool to get users 41:20 My pre-seed cheque in Micro One is now worth hundreds of millions and my lessons 43:20 The biggest mistake VCs are making in assessing founders 44:10 Why I will never tell the entrepreneur what to build and why I place little value on ideas 47:00 Why kingmaking is real and why you should accept half the price from a tier one firm 49:00 My biggest lessons on reserve investing 53:00 Why price rounds are b******t and we should do more SAFEs 54:20 What all founders need to know about signing with a VC 55:10 Single biggest advice to founders on how to get the best price 57:30 What role does not exist today that will be massive in five years' time? 59:10 Stocks are b******t. Cash is b******t. I put my money in land. My personal investing strategy 1:01:00 Why the Trump administration is unwaveringly good for US business 1:03:20 Why competitive markets are the best investments 1:05:40 The serendipity of San Francisco is unmatched 1:08:10 What things does no one know about Marc Andreessen that everyone should know?

    1h 29m
  2. 20VC: Lessons from Jensen Huang on "Founder Mode" | How to Know if OpenAI or Anthropic Will Kill your Company | How USV Liking Music Made Them $1BN on an Investment | The Five Year Desert to Product Market Fit & a $5.3BN Valuation with Shiv Rao @ Abridg

    2D AGO

    20VC: Lessons from Jensen Huang on "Founder Mode" | How to Know if OpenAI or Anthropic Will Kill your Company | How USV Liking Music Made Them $1BN on an Investment | The Five Year Desert to Product Market Fit & a $5.3BN Valuation with Shiv Rao @ Abridg

    Shiv Rao is the CEO and Co-Founder of Abridge, a leader in generative AI for healthcare. The company reached a $5.3 billion valuation following a $300 million funding round with investors including Jensen Huang, Henry Kravis, USV, Bessemer Venture Partners and Elad Gill. A practicing cardiologist, Shiv has scaled the company to 450 employees and partnered with major health systems like Emory and Yale.  AGENDA: 04:00 — You just have to survive long enough to not die 06:00 — Did USV liking music make them billions of dollars? 13:58 — The three variants of an AI native company 15:00 — How do you know if foundation models are going to kill or help you? 22:15 — Why OpenAI and Anthropic doing consultancies is such an obvious move 41:00 — Biggest lesson from Jensen Huang at Nvidia 41:00 — What Founder Mode truly means 52:00 — What the founder of Duolingo taught me about sacrifice 56:37 — If I started a company again, Elad Gill would be the one investor I go to

    1h 5m
  3. 20VC: Anthropic Buys Compute From Elon & Commits $200BN to Google | Cerebras IPO: The Breakdown | Ramp's $40BN Latest Valuation | Hubspot Tanks, Monday Rockets: WTF is Happening in Public Markets

    4D AGO

    20VC: Anthropic Buys Compute From Elon & Commits $200BN to Google | Cerebras IPO: The Breakdown | Ramp's $40BN Latest Valuation | Hubspot Tanks, Monday Rockets: WTF is Happening in Public Markets

    AGENDA: 00:05:11 — Anthropic freezes secondary sales, requiring board approval for all transfers. 00:10:45 — Why Anthropic is buying capacity from Elon Musk. 00:15:35 — Anthropic's massive $200B revenue commit to Google. 00:18:55 — Goldman Sachs predicts a 24x surge in token consumption driven by agents. 00:31:05 — Will AI labs eat the app layer? The threat to Legal and CX verticals.  00:37:55 — SaaS public markets: HubSpot tanks 18% while Monday.com finds its footing. 00:42:40 — Growth theft: How Clay is commoditizing ZoomInfo's data business. 00:46:25 — Cerebras prices IPO at $150–$160 with a $48B market cap. 00:52:15 — Real Venture Capital: Celebrating the early bets by Foundation and Benchmark. 00:58:30 — Ramp's valuation vs. the Chapter 7 collapse of e-commerce card Parker. 01:06:20 — Success and Sacrifice: Is mental health the price of building a $20B company?

    1h 18m
  4. 20VC: Inside Legora: $100M ARR in 18 Months | Jude Law Generated $50M in Sales Pipeline: The Economics Broken Down | Competing Against Harvey, the 800 Pound Gorilla | Why Legora is Undervalued at $5.5BN with Patrick Forquer, CRO @ Legora

    MAY 11

    20VC: Inside Legora: $100M ARR in 18 Months | Jude Law Generated $50M in Sales Pipeline: The Economics Broken Down | Competing Against Harvey, the 800 Pound Gorilla | Why Legora is Undervalued at $5.5BN with Patrick Forquer, CRO @ Legora

    Patrick Forquer is the Chief Revenue Officer at Legora, the fastest growing enterprise business to ever hit $100M in ARR and now on track to hit over $250M in ARR by the end of the year. They recently raised a $550 million Series D at a $5.55 billion valuation, led by Accel, note 20VC did participate and is an investor in the company.  AGENDA: 0:00 – How Jude Law Generated $50 Million in Qualified Pipeline 4:00 – Why Implementation is Your Secret Weapon to Win in AI 5:50 – Why AI Enterprise Sales Require "Legal Engineers" 7:45 – The 6-Figure Rule: When Should Humans Control Sales 12:55 – Is Legora Vastly Overvalued at $5.5BN?  15:45 – How to do global expansion in a world of AI 18:00 – How to Win Supremely Competitive Markets 24:45 – Why Giving Your Product Away for Free is a Death Sentence 33:55 – Legora's Onboarding and Training Playbook for Sales Teams 38:25 – Spotting Red Flags: How to Know if a Sales Rep Will Fail in 45 Days 46:30 – How to Structure Sales Commissions in a World of AI 49:40 – How to do Revenue Forecasting in a World of AI 1:00:30 – Will companies vibe code solutions and no longer buy a SaaS products?

    1h 14m
  5. 20VC: What I Learned from 100 of the Best CEOs in the World | What I Learned from Staying with Mr Beast for 3 Weeks | How We Will Spend More on Tokens than Salaries with Cliff Weitzman, Speechify

    MAY 9

    20VC: What I Learned from 100 of the Best CEOs in the World | What I Learned from Staying with Mr Beast for 3 Weeks | How We Will Spend More on Tokens than Salaries with Cliff Weitzman, Speechify

    Cliff Weitzman is the Founder & CEO of Speechify AI. He solved his dyslexia and ADHD in college by building a Voice AI agent that's now used by over 60 million people and has over 1 million five-star ratings. Over 200 software and AI engineers work on Speechify which won the Apple Design award last year. AGENDA:  00:00 — Until You Hit $100K Do Not Spend on any Channel Other than Meta  04:53 — How I hacked the college system by applying to 26 universities 06:33 — The "Great Guy" yearbook prank that accidentally outed me 08:35 — What I learned from hunting down the top 100 CEOs in the world 11:51 — The "Warrior" rule: Why I force my senior leaders to edit their own ads 13:52 — Why companies are like bodybuilders: The Bulking and Cutting cycle 17:34 — I test 1,000 AI-generated ads every single day 20:13 — How I built a custom AI ad platform in just four days 23:19 — The one $3,000,000 ad I filmed in a hot tub with red headphones 32:15 — Why we will soon spend more on AI tokens than employee salaries 34:55 — "I'm disappointed in you": The 1,000-credit daily AI requirement 36:31 — How LLMs helped me find my father's cancer when doctors couldn't 41:13 — Why 40% of billionaires are dyslexic—and why you should be too 45:41 — Why I refuse to hire anyone who has worked at Google 47:05 — I flew into a war zone in Ukraine just to keep one engineer 55:49 — Why performance reviews are a total waste of time 58:32 — QA is the most valuable skill in the world (and you're probably bad at it) 01:03:59 — Why we keep our valuation and funding a total secret 01:07:51 — The "Virus" Strategy: How Logan Paul hijacked the WWE 01:11:32 — What I learned from sleeping at Mr Beast's house for three weeks 01:14:15 — How we made a 36X return on Nvidia using high-leverage options 01:23:44 — I found the hacker who stole $200k—then I hired him 01:32:45 — Why I spent 11 days sleeping in a Walmart parking lot

    1h 47m
  6. 20VC: Mag7 Earnings: Google & Amazon Win - Meta and Microsoft Falter | Anthropic's $50BN Raise & What it Means for a Potential IPO | Atlassian, Twilio and Five9 Beat: The SaaS Apocalypse Over? | Sierra's $15B Valuation: Peak or Potential

    MAY 7

    20VC: Mag7 Earnings: Google & Amazon Win - Meta and Microsoft Falter | Anthropic's $50BN Raise & What it Means for a Potential IPO | Atlassian, Twilio and Five9 Beat: The SaaS Apocalypse Over? | Sierra's $15B Valuation: Peak or Potential

    AGENDA: 00:00 – Mag Seven Earnings: The "Super Bowl" of Tech Results 04:45 – Google's Cloud Explosion & The AI Search "Disruption" That Never Came 15:53 – Microsoft's $190B Bet: Is AI the Only Thing Keeping Growth Flat? 21:59 – Meta's $150B Future Bet vs. Wall Street's Need for Spreadsheets 28:50 – Palantir's Home Run: Why Big Companies Spend Big Money on AI 38:43 – Apple's Quiet Consistency & The Stealth Inflation of Memory Chips 41:11 – The SaaS Apocalypse Over? Atlassian and Twilio Lead the Re-acceleration 50:50 – Anthropic's $50B Raise & The Math Behind Token vs. Salary Spend 01:05:59 – Sierra's $15B Valuation: Replacing the $400B Customer Service Labor Market 01:13:39 – Musk vs. Altman Trial: Statute of Limitations, Standing, & Private Diaries 01:17:42 – The End of Managers? Brian Armstrong & The Rise of the "Individual Contributor"

    1h 31m
  7. 20VC: Shopify's Tobi Lütke on How AI is a Scapegoat for Mass Layoffs & What Will Labour Markets Be in the Future | Why We Need More Scrutiny on Charitable Giving, Governments are Bad at What They Do and Trump Derangement Syndrome in Canada

    MAY 4

    20VC: Shopify's Tobi Lütke on How AI is a Scapegoat for Mass Layoffs & What Will Labour Markets Be in the Future | Why We Need More Scrutiny on Charitable Giving, Governments are Bad at What They Do and Trump Derangement Syndrome in Canada

    Tobi Lütke is the co-founder and CEO of Shopify, the global e-commerce titan with a $160 billion market cap. Under his leadership, the company generates over $7 billion in annual revenue and has seen its valuation grow nearly 100x since its 2015 IPO. Today, Shopify has over 8,000 employees and AI now generates over 50% of the Shopify's code.  AGENDA: 00:10:36 - The $160 billion CEO who did not want to be CEO. 00:11:51 - Why don't companies become public? Because it is much worse to be an untrusted public company. 00:16:53 - Why we are about to enter a golden age of entrepreneurship. 00:17:54 - Why AI is being used as a scapegoat for mass layoffs. 00:17:41 - How will labor markets change in a world of AI? 00:24:43 - Why we should praise Elon Musk so much more than we do. 00:27:59 - Why we need to place more, not less, scrutiny on charitable giving. 00:31:56 - Why we have too many charity dollars and why they are inefficient. 00:34:57 - Why governments are so bad at what they do. 00:37:27 - The Trump derangement syndrome in Canada. 00:39:51 - Why will governments regulating technology push us into the hands of the Chinese? 00:41:59 - Europe has to get rid of the b******t green parties and go back to Prussian economics. 00:48:29 - Why is looking at the ticker such b******t? 00:50:48 - Why young coders are not as advantaged in AI as I thought they would be. 00:53:56 - The best engineers in Shopify are not writing code anymore and the AI does it for them. 00:56:40 - The cheat code for any career from the billionaire founder of Shopify.

    1h 14m
  8. 20VC: Inside Clay's Sales Playbook Scaling to $100M ARR | How to Set Sales Comp Plans | How to Read Sales Talent Linkedin Profiles | What Profiles to Hire & Fire | How to Increase Performance and Speed in Sales Teams with Becca Lindquist

    MAY 2

    20VC: Inside Clay's Sales Playbook Scaling to $100M ARR | How to Set Sales Comp Plans | How to Read Sales Talent Linkedin Profiles | What Profiles to Hire & Fire | How to Increase Performance and Speed in Sales Teams with Becca Lindquist

    Becca Lindquist is Head of Sales at Clay, one of the fastest-growing AI companies to reach $100M+ ARR. She previously helped scale dbt Labs into a category-defining data platform, building and leading high-performing sales teams. Before that, she was an early sales leader at Heap, where she played a key role in scaling the GTM motion. AGENDA: 00:00 Why most sales reps plateau—and when you should leave your company 02:45 Should you jump from SaaS to a hot AI startup right now? 05:30 How long is too long at one company—and what great tenure actually looks like 08:00 How to read a LinkedIn profile like a world-class sales leader 13:30 The biggest hiring mistake sales leaders make (and how to catch it fast) 16:00 Titles vs salary: what actually predicts a great hire 20:00 What early-stage founders must look for in their first sales hires 24:00 How to evaluate AI startups: PMF, retention, and real signals that matter 27:00 Sales comp decoded: quota, OTE, and how to design winning incentives 33:00 How to build a high-performance sales culture (and avoid a toxic one) 41:00 What makes a true champion—and why most reps get this wrong 45:00 Weekly forecasting: how elite sales teams run pipeline reviews 50:00 Are SDRs dead? How AI is really changing outbound sales 52:00 Why every rep owns pipeline—and how top teams generate it 54:30 The future of sales productivity: AI tools, workflows, and what actually works

    1h 13m
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The Twenty Minute VC (20VC) interviews the world's greatest venture capitalists with prior guests including Sequoia's Doug Leone and Benchmark's Bill Gurley. Once per week, 20VC Host, Harry Stebbings is also joined by one of the great founders of our time with prior founder episodes from Spotify's Daniel Ek, Linkedin's Reid Hoffman, and Snowflake's Frank Slootman. If you would like to see more of The Twenty Minute VC (20VC), head to www.20vc.com for more information on the podcast, show notes, resources and more.

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