20VC: Trillion or Bust: The New VC Game | Coreweave Sell-Off Creates Panic | Town at $1B, Anduril at $90B: Revenue Multiples Out of Control | General Atlantic Eyes IPO & Modal Raises $750M at $15.75B

But you gotta have billion dollar positions in everything in in big boy venture today, I think. It's billion dollar positions or nothing. There's no point in investing otherwise with large funds. The entry price fifty million, a hundred million seeds, you can't make money. If the end user demand is there, then everything is gonna work out. Core weave is B tier compared to NVIDIA and friends. Oracle is B tier. Compared to NVIDIA, we're all fucking B tier assets. How about that? I actually think code review is the single most important category today in software. Coding is the mother load of LLM value. We are just taking revenue multiples too far today. Bending spoons is like the Berkshire version of software. This is twenty VC with me, Harry Stebbings. It's my favorite show of the week. Rory O'Driscoll, Jason Lamkin, the biggest news in tech. So what are we talking about today? Well, are the AI cracks starting to show? Core Weave is hit pretty hard. Next up, we have Anthropic. The talk of IPO Town is it could be priced at 1.5 trillion, not the two trillion originally suggested. Then we move down to the world of private markets, where we have Modal, which closes a 15.

$75 billion valuation fundraise, And your old tenders at$90 billion, and then welcome to the agent land. We have town that raised$108 million at a$1 billion valuation. This and so much more in the episode today. But before we dive into the show today, base 44 is one of those products I used and I just thought straight away, man, I wish I'd had this when I started 20 VC with$50 and no contacts in Vansha. I wanted to see what it could do. So I built a guest research hub for the show. Upcoming guests, company notes, previous interviews, sponsor contacts, follow ups. All in one amazing location. I described it in plain English. A few minutes later, I had the product open in front of me. Database, login, backend, and hosting already handled, and just all in one. It made it so easy. And that's what I loved. I didn't write a long spec, I didn't stitch five different tools together. I built the thing and I started using it. For any founder listening, that's the point the faster you turn an idea into something real the faster you launch apps dashboards internal systems ai agents whatever you need to build base44 gets you there go to base44.com forward slash two zero vc that's base44.com slash two zero vc

While base 44 helps you build, AlphaSense helps you find answers really, really fast. We used AlphaSense on an investment that helped us close an$8 million deal.$8 million, baby, that's a lot of money. That's why I'm genuinely excited to have them as a partner on 20 VC. AlphaSense combines AI with one of the world's deepest libraries of market intelligence, including expert interviews, broker research, earnings calls, company filings, and real-time news. Every answer is grounded in this incredibly trusted evidence and fully traceable to the original source, which is so important. So you can make really high conviction decisions with confidence. But the best part, they're building super analysts. And always on AI analyst. So instead of starting your day with another search, you'll start with work you already done, your coverage monitored, the important developments surfaced, and your investment brief already waiting for you. See for yourself, head to alphaSense.com slash twenty VC. That's alpha hyphensense.com. While AlphaSense finds insights intocom helps you serve customers. As AI agents become more common in customer experience, teams often end up juggling multiple silo tools for every job. Well, Fin was built to change that. It's a single unified agent that works across your entire customer experience, from service to sales to success and beyond. Fin is the agent making perfect customer experiences possible for.

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