20VC: Nat Friedman and Daniel Gross Bought with Zuck's $100BN AI Budget | Navan Files to Go Public and Canva Pulls the Brakes: Why and What Happens | Why Larry Ellison is the Smartest Man in Tech | Substance or Sizzle: What is Real and What is BS in AI

Here's what nobody wants to admit. When LLMs finally work at something, the implementation will be boring as fuck. Harvey isn't some breakthrough in legal AI, it's Chat GPT with a law costume. Lovable isn't revolutionizing code, it's clawed with pretty buttons. So you have two choices.

Option one, wait until the LLM actually works, then scramble to build your Chat GPT wrapper along with everybody else who just realized the same thing. Option two, start now while the tech is garbage, lie about how good it is, burn money on marketing, claim the territory while everyone else is still laughing at you. The companies winning at leverage beta aren't the ones building better products. They're the ones who understood this dynamic first. They're either lying about the present, 11x or icon, or arbitraging the obvious, Harvey or lovable.

This is 20 VC and my favourite show of the week. It's the news roundup show with Rory and Jason Lamkin. Today we discuss Nat Friedman and Daniel Gross joining Meta. We discuss Canva delaying their IPO, Navan filing to go public, we discuss uh what everyone thinks they know but is actually bullshit in the world of AI and so much more. This is an incredible discussion.

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