20VC with Harry Stebbings

"One that I'm not an investor in that I know that we use is called Artisan, which is just an AI SDR tool and more. They did 2 million last month."

"I think there's a chance that Cursor loses half of their revenue this year with the cannibalization of them by Claude code. I don't know anyone who's not moved to Claude code."

"All of our developers is using cloud code and Cursor. So, I don't think there's any company that's pushing AI efficiency more than we do."

"I haven't logged into Salesforce in 6 months, but we use it every minute. Our agents use it every minute."

"I'm a fan of Seven Powers, this brilliant book which talks about kind of seven ways that businesses accrue value and sustainability."

"We're buying Mac minis we're buying Mac studios that can run a full model on the Mac"

"He uses 11 Labs as part of the voice for one of his games. And he said, 'This will be the year where we see the true substitution of AI products based on price.'"

"The $4,000 or $6,000 Mac max studios"

"I'm an investor in a company called Monaco that's the next AI SDR for us. It booked us a six-figure deal the first day"

"I have a self-playing piano from Steinway and that is amazing, but I don't get to use it at all. Like, it's fantastic. Look it up. It's amazing."

"Alice in Borderland."

"Dude, I love Suno. I actually sent Nick at Revolut a song to get him to come on the show"

"I think it's fascinating because everything that Travis said in the early days at Uber has become true. I mean, I take Waymo all the time. I will only time I'll ever take an Uber is if I have to."

"We have literally sent millions and millions of business to Artisan and Qualified because those were the first two ones we used."

"for our type of work it will either be Claude or Gemini that is the top model"

"Open Router lets you do it dynamically, or you can pick different LLMs for different use cases, and it just makes it elegant. And it's also really cheap."

"There are so many great products in the market. There is no excuse in any role to have not brought one tool a month into your organization."

"I would always take a company that's doing a triple triple double double with excellent growth and excellent net revenue retention"

"deploy founder led social, employee led social, build in public, recruit people to be your biggest fans"

"For any founder, I would suggest really deploy founder led social, employee led social, build in public"

"For any founder, I would suggest really deploy founder led social, employee led social, build in public"

"If I invest in this round at this price and the company executes, do I want to put more at a higher price? That's the litmus test."

"If I meet investors today that haven't actually downloaded and tried to build something themselves, I think they don't have the skill set to make an evaluation of the company they're looking at."

"The Stockholm Archipelago. I really recommend it. It's beautiful."

"I expect my whole career and life building towards AGI. I think it will be the ultimate tool for science and medicine."

"What makes Dario so good that other people don't see from the outside? A couple of things. One, sheer scientific brilliance."

"To have at least as much infrastructure locally as there is within the Alphabet Holdings pool over the next 4 years."

"he led AI investments for Andreessen Horowitz"

"he made investments in Black Forest Labs, Mistral, Sesame, among others"

"he made investments in Black Forest Labs, Mistral, Sesame, among others"

"he made investments in Black Forest Labs, Mistral, Sesame, among others"

"Several new entrants joined the rankings this quarter... Cerebras"

"Replit, climbing 12 spots to number 17 after raising a new round at roughly three x its previous valuation"

"Several new entrants joined the rankings this quarter... Harvey"

"Several new entrants joined the rankings this quarter... The Boring Company"

"Perplexity saw the largest decline, dropping 18 spots from number 10 all the way down to number 28"

"Eleven Labs on the back of a record quarter for them"

"Crusoe Energy fell 10 places to number 19"

"Causal surged an impressive 13 places to number 11, continuing the strong momentum in prediction markets"

"Shield AI rose nine places to number 13 as escalating tensions strengthened demand across the defense sector"

"Figure AI dropped seven spots to number 23"

"BABA Ventures which has backed the likes of Revolute and of course 11 Labs in the early days"

"Like we see like Open AI don't have commissions. It's like here's your salary and then here's your equity."

"we interviewed the head of sales at Clay recently and they said theirs is six to eight"

"there was a brilliant article the other day on the permanent decline of Hollywood. And I think it was a Wall Street Journal article"

"one of my best from fund one I think was Linear"

"Because I had Chris Dagnan on the show who's like one of the all-time great CRO Snowflake, you know, 0 to 4 billion"

"They just raised $50M from Sequoia"

"SpaceX finally confidentially files for IPO targeting a $2 trillion valuation."

"This week, Anthropic sues the US government, Oracle and OpenAI"

"Wix buying back 31.6% of its shares given its low stock price"

"most notably Meta who they have since reportedly lost part or all of them being a customer of their data"

"it was also unfortunately at the same time that Forbes released their billionaires list of young billionaires where the founders of Mercor are on that list"

"I'm thrilled to welcome Damis at Deep Mind."

"Do you remember Six Flags? The really [ __ ] theme parks. Yeah. Yeah. So, I don't know them cuz I'm British, but like they wanted to be better than everyone else and so they just did massive billboards that said not as good as Disney"

"You know I remember interviewing Dax from Lightseed Dax to Silver and he mentioned the challenge Lightseed the POS system in a lot of restaurants"

"he said that with AI overview on Google that they've lost 18% or I might be butchering maybe 15 15 to 18% of their uh adwords"

"I love Ryan at Flexport, but like the I'm so in the weeds and I love him for it"

"Goal Rajaram who's amazing. I don't know if you know this but he basically said his biggest lesson from Square"

"I actually had Eran from Monday on the show which was a fascinating show"

"The lock in and power of Epic is just mind-boggling. Does that progress or prevent innovation in the healthcare industry?"

"they just did massive billboards that said not as good as Disney"

"When we started this podcast, you went on to ChatGPT or Claude."

"It was actually the accidental leak of Claude Mythos essentially 3,000 unpublished assets leaked. It's a 10 trillion parameter model apparently that is this next level step changing capabilities"

"Gradient Labs rose an astonishing 20 spots to snag fourth place, building AI customer support for financial services."

"Run:ai, the only new entrant to the top three, purpose-built to make MCP enterprise-ready."

"Resolve AI takes the top spot this quarter, jumping from bronze to gold, closing a $125 million Series A at a billion-dollar valuation led by Lightspeed."

"Peak AI, Berlin-based AI search visibility platform. They are adding 300 new customers every single month."

"Dust at number 14, who quietly grew to over 120 people on just $21 million raised."

"Gili Raanan, founder of Cyberstars and one of the most successful seed investors ever"

"He is famed for being the seed investor in Wiz, Island and Cyera, leading to multiple 10x+ funds."

"On the Stitch Figma thing, on the one hand, massive market overreaction to a proof of concept."

"The debrief on Grok's twenty billion dollar deal to Nvidia"

"The debrief on Grok's twenty billion dollar deal to Nvidia"

"I'm gonna leverage the brand and the access that I have to get into super hot companies like your ElevenLabs, your Loras, your you name it, your Lovables much earlier"

"RAMP revealed recently with I think they're about 0.5% to 1% of US like GDP transactions"

"We see companies like Stripe who are able to never go public, be a brilliant business, and avoid the glare of public markets very efficiently."

"Today, they have a $20 billion Pentagon contract and are valued at $60 billion."

"If he were running Uber today, it'd be a trillion dollar company. His hyperaggressiveness, which in a different era led to his downfall, but it worked, right? It destroyed Lyft."

"It destroyed Lyft."

"What are we discussing this week? GTC, what happened with Nvidia?"

"And's $20 billion contract."

"Atlassian announcing 1,600 people and then Meta reportedly a speculative 20% workforce reduction"

"Square Capital didn't make much money, but it was very good for retention."

"No one walks into the gym and goes, 'Treadmill, my old friend. I love going on you.'"

"Everything is like the gym. No one walks into the gym and goes, 'Treadmill, my old friend. I love going on you.'"

"Obviously, he has the Thiel Fellowship and a preference for young ambitious founders"

"Do I want to invest into paid marketing? Do I want to do this? Do I want to do that?"

"CrowdStrike. They beat expectations but trade down."

"I get drawn to Palantir. And I never thought I'd say that... they're one more year of growth away from being normalized."

"I put Toast in there because they're software but with a huge slug of transactions that aren't going to be replaced by AI."

"I know this being super deep on Agent Force and everything... not every customer can get Agent Force to do what they want and can train it."

"My fourth one, Palantir, Cloudflare, Shopify. It's just the math."

"My fourth one, Palantir, Cloudflare, Shopify. It's just the math."

"All the big pre-SaaS companies that had systems of record Oracle, PeopleSoft which rolled up into Oracle and SAP survived and financially thrived."

"I also bought WorldCloud. I put the full 250K. We said we'd bet into WorldCloud the day we bet and we're about up 4% so far."

"Everyone's using Claude code. We just saw Chamath tweet last night. We're going to have to move off Cursor because it's just simply too expensive."

"Let's look at Apple for consumer hardware."

"When we look at the big exits this year, you've got Data Bricks, you've got Anthropic, you've got Open AI, and you've got SpaceX."

"Mitchell has co-led or led investments in insane companies like Alibaba, Benchling, ByteDance, Grafana among many others."

"Mitchell has co-led or led investments in insane companies like Alibaba, Benchling, ByteDance, Grafana among many others."

"Mitchell has co-led or led investments in insane companies like Alibaba, Benchling, ByteDance, Grafana among many others."

"Claude is like inverse Fortnite where you land on the island and it keeps shrinking."

"Block lays off 40% of the workforce."

"Tesla trades at a trillion today. I think if Elon died tomorrow, the trade at 200 billion."

"I have to say vibe coding is amazing. I've been coding all my life since I was a kid. And seeing this amazing technology become real is unbelievable."

"When you look at OpenAI or sorry Anthropic moving into security it's a very weak argument to suggest that replaces CrowdStrike or Palo Alto Networks."

"But you couldn't actually. And so when you actually look at like a Lorra or a Harvey, they are trained on a huge amount of legal data which they have gained in the last two years from doing what they do."

"It was a journalist actually. I can't remember what American channel it was, CNN, CNBC or one of the acronyms that, you know, American has where she vibe coded her own Monday in a couple of hours or whatever."

"There's a kind of content creator influencer whatever I'm quite into these kind of inspirational speakers this guy Alex Hormozi and he says you know whenever I'm going through a hard time I think you know the harder the challenge the greater the story that comes out of it."

"Who's a harder competitor, HubSpot or Salesforce?"

"We saw Jack Altman who raised last year 275 million for Alt Cap. He's a wonderful dude. I'm sure everyone loves Jack."

"AIO is beating every other CRM company in the valley"

"synthesia has beaten benchmark-backed Hey Gen"

"synthesia has beaten benchmark-backed Hey Gen"

"Salesforce, Workday, Service. Now, those are like a couple hundred billion of market cap, right?"

"The largest SaaS company in the world that's independent outside of Microsoft and the hyperscalers, Salesforce, right?"

"I was just looking at Yelp this week. I mean, Yelp's down to $1.22 billion valuation for I mean Jeremy's young but it's been what 20 something years right and it's down 47% this year"

"someone could buy Fidelity small cap growth and get actually in this case midcap and large cap growth, pay 50 bits and buy the same stock."

"I Drew from Dropbox and Aaron from Box just unwavering resilient persistent"

"I Drew from Dropbox and Aaron from Box just unwavering resilient persistent"

"Is Adyen wildly undervalued? Adyen is a wildly profitable company with almost 50% operating margins"

"Thrive closes on a mega $10 billion fund"

"another candidate who obviously won't happen but it was who was great guest Jeff Lawson who was at Twilio is now like I'm doing fusion you you people knock yourself out"

"OpenClaw creator joins OpenAI"

"Do you think Aneel wanted to go back as the solo CEO just as much as Daniel wanted to go back to UiPath?"

"Customer service isn't just like, hey, I need an agent that answers questions. Sooner or later, you wanted to read the source code and explain to the customer how it works."

"David at least has slightly more focus. He has a very solid base in Brazil, making a lot of money from there."

"I've seen the acceleration of AI and I know we can ship all these things on the existing organization."

"So of all the things they could have done in the Super Bowl"

"We saw Sierra's 50 million plus quarter taking to over 150 million there are now."

"I don't think we're allowed to believe in luck at a16z. We have to see 100% of the deals in our domain."

"Why would you point it at rebuilding payroll or ERP or CRM, right?"

"even if you vibe coded your ERP and your payroll with all the kind of risks and dangers that that entails, you're going to save 8 to 12%"

"There's only two assets that give you that. Self-drive and Optimus. For lack of any information, split it 50/50."

"is deep on the whole Amazon Trainium ecosystem"

"Anthropic signed a deal for a million TPUs"

"Twitter/X.ai investor rolling into the largest market cap private company on the planet maybe 6 months before it goes public"

"And on paper, when you log into Carta, your share price is higher."

"But is that is an called Fiverr? Just it's the new Fiverr."

"If you read Reminiscences of a Stock Operator which is the definitive book about trading, the Jesse Livermore book about trading"

"Whether it's just ChatGPT or Claude or whatever, or whether it's Replit or Gamma or heck, Granola, it's so powerful that it is your sales and marketing motion"

"Whether it's just ChatGPT or Claude or whatever, or whether it's Replit or Gamma or heck, Granola, it's so powerful that it is your sales and marketing motion"

"SpaceX has completed its acquisition of XAI, valuing the combined private company at 1.25 trillion as Elon Musk moves to pair his rocket business with an AI unit that's burning about a billion a month"

"I just don't love my job at Thinking Machines. Come to OpenAI. You will lose nothing."

"Mercor obviously a data provider to some of the largest companies in the world, most notably Meta who they have since reportedly lost part or all of them being a customer"

"We move to open AI killing Sora."

"you should go to Bosch or you should go to Seammens or you should go to HSBC"

"you should go to Bosch or you should go to Seammens or you should go to HSBC"

"you should go to Bosch or you should go to Seammens or you should go to HSBC"

"A month ago, I was looking at Duolingo going, 'Wow, what a buying opportunity.' And the lesson I have on Duo is, 'Wow, there really is no floor.'"

"I've lost a billion dollars not investing in Deel seed round. I thought I knew the payroll market better and so I was like duh no"

"Figma Make is a failure and I don't mean to be dramatic but I think folks at Figma if they're honest would agree like they thought this was revolutionary"

"That's why I use Wispr Flow. In the car like this, I will sit I will go through all of my emails, and then I will also proactively email everyone that I met that night"

"Visit harmonic.ai for access to the full startup database used by us and thousands of other investors around the world."

"I have to give credit to Sata VC.com and Sata Capital for providing the data used today"