Google Loses $500B in 12 Hours | DoorDash Buys Instacart for $17B | Kalshi Raises $1B
Harry Stebbings, Jason Lemkin and Rory O'Driscoll debate whether a volatile week of AI news, from OpenAI's cut valuation to Google's $500 billion drop, signals cracks or just price discovery, plus DoorDash buying Instacart for $17 billion.
The gist
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Rory says OpenAI's valuation cut from $1.4 trillion to $1.25 trillion reflects buyers comparing it with a bigger, profitable Anthropic, not an AI crash.
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Rory says Anthropic's revenue rose from $5 billion to $11 billion to $17 billion over three quarters, with quarterly growth slowing from 100% to 50%.
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Jason says switching his recruiting app to Haiku 55 and Jev cut costs 72% for the same task, a sign of pricing pressure.
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Jason calls agents an existential risk to DoorDash, since they can find restaurants like The Grazing Goat that deliver directly, skipping the fees.
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Choosing between Baseten, Cognition and Serval, Harry picks Serval at $3 billion for upside, while Jason questions whether it grows beyond ServiceNow's market.
Jason Lemkin uses it
"When I switched it myself to Haiku 5.5 and Jev, total costs went down about 70%, 72%... It's faster and 72% cheaper and better. Nothing got cheaper until Haiku 5.5 plus Jev. And I saw a 72% decline for B2B workflow running constantly, for the same task and higher quality."
▶ Play at 14:11250 creators recommend it, including Riley Brown, Chris Koerner, and This Week in Startups.
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Jason Lemkin uses it
"What's the pub right behind your office that I really like, Harry? — The Grazing Goat. — Love that place. Five out of five."
▶ Play at 30:15What they recommend · 2 picks
"When I switched it myself to Haiku 5.5 and Jev, total costs went down about 70%, 72%... It's faster and 72% cheaper and better. Nothing got cheaper until Haiku 5.5 plus Jev. And..."
"What's the pub right behind your office that I really like, Harry? — The Grazing Goat. — Love that place. Five out of five."
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