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20VC: OpenAI's Sam Altman and Brad Lightcap on The Future of Foundation Models: Will They Be Commoditised | How to Solve the Problem of Compute | Open vs Closed: Which Dominates and Why | Which Companies and Verticals Will Be Steamrolled by OpenAI

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

Release Date: 04/15/2024

20VC: OpenAI's Sam Altman, Mistral's Arthur Mensch and more discuss: Will Foundation Models Be Commoditised | Which Startups Are Threatened vs Enabled by OpenAI | Is the Value in the Infrastructure or Application Layer? show art 20VC: OpenAI's Sam Altman, Mistral's Arthur Mensch and more discuss: Will Foundation Models Be Commoditised | Which Startups Are Threatened vs Enabled by OpenAI | Is the Value in the Infrastructure or Application Layer?

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

 is the CEO @ OpenAI, the company on a mission is to ensure that artificial general intelligence benefits all of humanity. OpenAI is one of the fastest-scaling companies in history with a valuation of $90BN and $2BN+ in revenue.  is the COO @ OpenAI and the man responsible for the incredible scaling of sales, GTM, partnerships and business to today being over $2BN in revenue. Arthur Mensch is the Co-Founder and CEO of . Since its inception in May 2023, Mistral has raised over $520M in funding from investors like Andreeseen Horowitz, General Catalyst,, and Microsoft with a...

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20VC: Box's Aaron Levie on Predictions for the Next Wave of AI: Will Foundation Models Be Commoditised | How the Business Model of SaaS Changes Forever | Startups vs Incumbents: Who Wins | App vs Infrastructure Layer: Where is the Value? show art 20VC: Box's Aaron Levie on Predictions for the Next Wave of AI: Will Foundation Models Be Commoditised | How the Business Model of SaaS Changes Forever | Startups vs Incumbents: Who Wins | App vs Infrastructure Layer: Where is the Value?

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

Aaron Levie is one of the OG founders of the last two decades as the Co-Founder and CEO of Box. Today, Box does over $1BN in revenue with a market cap of $3.85BN, and has raised over $560 million from the likes of DFJ, Andreesen Horowitz, and Coatue.  In Today’s Episode with Aaron Levie We Discuss: What You Need to Know Entering This AI Wave: Why does Aaron think we are currently in a transformative window in AI? What does Aaron think it takes to be successful in this next wave? Which areas does Aaron think founders should be focusing on today? Where should they not? AI...

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20VC: Palo Alto Networks CEO Nikesh Arora on How to Create and Sustain Competitive Advantage and Defensibility | What Makes Masa Son a Genius Investor of Our Time | How the Best Leaders Communicate and Delegate show art 20VC: Palo Alto Networks CEO Nikesh Arora on How to Create and Sustain Competitive Advantage and Defensibility | What Makes Masa Son a Genius Investor of Our Time | How the Best Leaders Communicate and Delegate

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

Nikesh Arora is the CEO @ , the leading cybersecurity company in the world with a market cap of $102BN. Before joining Palo Alto Networks, Nikesh was the President and COO of SoftBank Group. Before that, he spent ten years at Google as a senior exec, and President of Europe, the Middle East and Africa. Before that Nikesh was CMO for the T-Mobile International Division of Deutsche Telekom AG. Nikesh serves on the board of Compagnie Financière Richemont S.A. Previously, he served on the boards of SoftBank, Sprint, Colgate-Palmolive Inc., Yahoo! Japan and Tipping Point. In Today's...

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20Product: How Linktree, Webflow and Airbnb Used Rituals and Product Principals to Guide Product Roadmap, Why All Product Teams Should Have a Scorecard and How to Use it & How to Run the Best 20Product: How Linktree, Webflow and Airbnb Used Rituals and Product Principals to Guide Product Roadmap, Why All Product Teams Should Have a Scorecard and How to Use it & How to Run the Best "Product Jams" with JZ, CPO @ Linktree

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

Jiaona “JZ” Zhang is the Chief Product Officer at Linktree, the world’s leading link-in-bio platform empowering 45M+ creators, brands and SMBs. JZ joined Linktree from Webflow, where she served as SVP of Product. Before that, she spent four years at Airbnb where she built and led numerous teams on the host side. JZ’s also held leadership roles at the likes of Wework, Dropbox and teaches at Stanford University and Reforge. In Today’s Episode with Jiaona Zhang We Discuss: Entry into the World of Product How did JZ first fall in love with product? Why does JZ believe the...

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20VC: Fundraising Wisdom that is Total BS; Dilution, Meeting Associates, Taking the Highest Price, Always Be Raising | Why Second Time Founders Are More Investable & Why Not To Hire People Out of College with Dan Siroker, CEO @ Limitless show art 20VC: Fundraising Wisdom that is Total BS; Dilution, Meeting Associates, Taking the Highest Price, Always Be Raising | Why Second Time Founders Are More Investable & Why Not To Hire People Out of College with Dan Siroker, CEO @ Limitless

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

Dan Siroker is the Co-Founder and CEO @ , a personalized AI powered by what you’ve seen, said, or heard. For his latest funding round, Dan took an unusual approach resulting in 1,000 preliminary offers with valuations as high as $1BN — and resulted in a $350 million Series A valuation. Prior to founding Limitless, Dan was the Founder of Optimizely, scaling the company to $120M in ARR and raising from some of the best in the business including @ Benchmark who led the Series A. In Today's Episode with Dan Siroker We Discuss: 1. Serial Entrepreneurs are More Investable: Why would...

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20VC: Behind the Scenes at Y Combinator: The Interview Process | What the Best & Worst Do in the Program | Do the Best All Raise Pre-Demo Day & YC's Fundraising Advice to Startups | Why the Value is in Application Layer AI with Tom Blomfield show art 20VC: Behind the Scenes at Y Combinator: The Interview Process | What the Best & Worst Do in the Program | Do the Best All Raise Pre-Demo Day & YC's Fundraising Advice to Startups | Why the Value is in Application Layer AI with Tom Blomfield

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

Tom Blomfield is a Group Partner at YC. Before YC, Tom founded two unicorns in the UK. He was co-founder of Monzo (most recently valued at $5BN), one of the first challenger banks in the UK. Monzo raised more than £1bn and counts 15% of the UK population as customers. Before Monzo, Tom founded GoCardless (YC S11), an online payments processor, most recently valued at $2.1BN. In Today's Episode with Tom Blomfield We Discuss: 1. From Founding Two Unicorns to YC Partner: Does Tom believe that all great founders show signs of exceptionalism early? What does Tom know now that he wishes...

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20Sales: How to Build Vertical Sales Teams, Why No Customer Success is BS and Everyone Needs it, How to Hire, Train and Retain the First Reps and Lessons Scaling to $2.1BN Revenue and 1,300 People with Larry Schurtz, CRO @ Genesys show art 20Sales: How to Build Vertical Sales Teams, Why No Customer Success is BS and Everyone Needs it, How to Hire, Train and Retain the First Reps and Lessons Scaling to $2.1BN Revenue and 1,300 People with Larry Schurtz, CRO @ Genesys

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

Larry Shurtz is the Chief Sales Officer at Genesys where he oversees the company’s global go-to-market strategies, including commercial activities, field sales and partner ecosystem operations. Larry has nearly three decades of experience in the software industry, from leading Confluent to delivering more than 60% revenue growth and doubling customer count as Chief Revenue Officer, to scaling a 1,300-person team at Salesforce to $2.1 billion in revenue. In Today’s Episode with Larry Shurtz We Discuss: From Robotics Student to $2.1BN Sales Leader at Salesforce How did Larry lead 1300...

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20VC: GV's Tom Hulme on Why Investing in Foundation Models is like Investing in 20VC: GV's Tom Hulme on Why Investing in Foundation Models is like Investing in "Power Stations", The Conventional Wisdom in VC that is BS & Lessons from a 24x Angel Track Record, 255x on Robinhood and Making Billions on Uber

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

Tom Hulme is a Managing Partner of GV (Google Ventures), and leads the European team. Today, GV has over $10BN in AUM and Tom has led investments in Lemonade.com (IPO), Snyk, Secret Escapes, Blockchain.com, GoCardless, Blue Vision Labs (exited to Lyft), and Currency Cloud (exited to Visa). Prior to joining venture full-time, Tom was one of Europe's most successful angel investors with a 5x DPI track record and 20x+ TVPI. In Today's Episode with Tom Hulme We Discuss: 1. Lessons from a 24x TVPI Angel Track Record: What are Tom's biggest lessons from his biggest winners angel investing? ...

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20VC: Benchmark's Sarah Tavel on Are Foundation Models Commoditising | Why Frontier Models Will Be Closed Source | Why the Value is in the Application Layer | The Future of AI is 20VC: Benchmark's Sarah Tavel on Are Foundation Models Commoditising | Why Frontier Models Will Be Closed Source | Why the Value is in the Application Layer | The Future of AI is "Selling the Work" Not the Tools

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

Sarah Tavel is a General Partner @ Benchmark, one of the most successful and renowned venture firms in the world. At Benchmark, Sarah has led rounds in Chainalysis, Hipcamp, Medely, Rekki, Glide, Cambly and more. Prior to Benchmark, Sarah was a Partner at Greylock Partners. Before Greylock, Sarah was the first 30 employees at Pinterest. Sarah joined Pinterest in 2012 after co-leading the Series A investment while at Bessemer Venture Partners. In Today's Episode with Sarah Tavel We Discuss: 1. Becoming a GP at The Most Renowned Firm in Venture: How did the process of Sarah joining...

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20VC: The Memo: Keith Rabois and Ramp's Eric Glyman on Behind The Scenes at The Best Run Private Company on the Planet; The Tools, Tips, Secrets and Process That Drive Efficiency show art 20VC: The Memo: Keith Rabois and Ramp's Eric Glyman on Behind The Scenes at The Best Run Private Company on the Planet; The Tools, Tips, Secrets and Process That Drive Efficiency

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

Eric Glyman is the Co-Founder and CEO of Ramp, America's fastest growing corporate card and finance automation platform. Under Eric’s leadership, Ramp has raised more than $1 billion in financing, with a valuation of $8.1 billion. Prior to Ramp, Eric co-founded Paribus, a price-tracking app to help consumers save money (acquired by Capital One). Ramp recently raised another $150 million series D round co-led by Founders Fund and Khosla ventures, with a post-money valuation of $7.65 billion. Keith Rabois is a Managing Director @ Khosla Ventures and one of the most respected venture investors...

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More Episodes

Sam Altman is the CEO @ OpenAI, the company on a mission is to ensure that artificial general intelligence benefits all of humanity. OpenAI is one of the fastest-scaling companies in history with a valuation of $90BN and $2BN+ in revenue. Prior to OpenAI, Sam was the President and CEO @ Y Combinator and made angel investments in the likes of Airbnb, Stripe, Reddit, Pinterest, Asana and more.

Brad Lightcap is the COO @ OpenAI and the man responsible for the incredible scaling of sales, GTM, partnerships and business to today being over $2BN in revenue. Before OpenAI, Brad was an investor at Y Combinator, where he met Sam and before that led finance and operations initiatives at Dropbox.

In Today's Episode with Sam Altman and Brad Lightcap We Discuss:

1. The Partnership: The Most Powerful Double Act in Tech:

  • How did 25 people rejecting OpenAI's CFO positions 6 years ago, lead to Brad joining OpenAI before Sam even did? What did he see that the world did not?
  • What does Brad think is Sam's biggest superpower that the world does not know? What does Sam think it Brad's biggest superpower that the world does not now?
  • How do decisions get made between Brad and Sam? How do they decide what to delegate vs what not to? What is the most recent disagreement they had? How did they resolve it?

2. The Next 12 Months for OpenAI: Bottlenecks, Compute and Commoditisation:

  • What are the core bottlenecks facing OpenAI in the next 12 months?
  • How does Sam believe we solve the fundamental problem of compute?
  • What is the single biggest barrier to the quality of models improving?
  • What is the end state for the model landscape? Will models become commoditised?

3. OpenAI: The Fastest Scaling Company in History:

  • What has been the secret to how OpenAI has scaled to $2BN in revenue in 24 months?
  • Why does Sam believe that he is "not a great operator"? What drives this thinking?
  • What have been the first things to break in the scaling of OpenAI?
  • What do Brad and Sam know now about the scaling that they wish they had known at the start?
  • Why does OpenAI lean towards hiring more experienced people in the team?

4. How to Invest and Operate in a World of OpenAI:

  • What single question can founders ask that will reveal if they will be steamrolled by OpenAI?
  • Does Sam believe huge numbers of companies will be steamrolled by OpenAI?
  • For investors, is there money to be made investing in the application layer of AI today?
  • What question should all businesses be asking about how to adopt and use AI in their business?

5. Sam Altman: AMA:

  • What have been the single biggest lessons Sam has learned from the founders he has invested in?
  • Which founders has he learned the most from? What did he learn from each?
  • What is Sam most concerned about in the world today? Why what?
  • What unexpected traits or characteristics does Sam most look for in the founders he invests in?
  • Why does Sam say that he is not happy but he is grateful?