20VC: Jensen's Open-Weights Letter | Travis Kalanick Raises $1.7B for Atoms | Google Cloud Grows 82% But The Market Tanks | Francisco Partners Raises $21BN | Etched Raises $300M to Take on Nvidia

Everyone's business model gets a lot better if the two frontier labs can't extract about a hundred billion dollars of revenue this year from the businesses. The more you believe they're massively dangerous, the more you believe you're building the bomb here, the more the entropic position feels principal. I think these models are very risky, and I think it's an argument to to keep the open weight out of the US. And now you want me to bring Kimmy and Quinn in? No way is the CIO gonna allow it. That is banned, right? If you're willing to run fable Would you be willing to run a red blooded American open weight model? Every company in the next 24 months will have a security breach due to an LLM agent. Every single company. And they've already had it and they're not disclosing it. People are just getting.

Mildly scared about the bet. Anyone who has capital and can build compute. Can sell compute. And the boring company to me is crazier than Adams. Anybody not working at least as hard as Mark Benioff is just not going to make it. This is 20 VC with me, Harry Stebbings, my favorite show of the week. This is the only show you need to listen to every week. Rory O'Driscoll, Jason Lamkin analyzing the biggest stories from the land of tech.

Every single week. So what's on the agenda today? Number one, Jensen Huang breaks his silence on X. First Zark, now Jensen, God, the tidal wave of leaders joining X, with, check this out, a 50 company open weights letter that, dun, dun, dun, anthropic and Dario has not signed. Naughty boy. In the same week, Anthropic ships clawed Opus 5, cutting it price by half. Then Travis Kalnik is back, baby, raising$1.7 billion for atoms. And then we break down Google, accelerating cloud to 82%. Yet They impose that first. Ever negative free cash flow, and the market shits the bad. What should we read from this? This and so much more in the show today. But before we dive into the show today.

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