20VC: Leading Anthropic's First Ever Round | Will Open Source Threaten Anthropic's Business | Do Margins Matter in a World of AI | Why Triple, Triple, Double, Double is Not Good Enough Today | Why Series A is Hard Today with Matt Murphy @ Menlo

I think the foundation models, let's say specifically anthropic, have such special models performant intelligent models, it's gonna be hard for somebody to just kinda say, I've used open source with my data. It's going to be functional and positive for some amount of what you're doing, but I just don't think it can be powerful enough to really, you know, displace it. This is 20 VC with me, Harry Stebbings. Now, joining me in the hot seat today, we have someone I've known for 10 years. Matt Murphy, partner at Menlo. He's the guy that led the deal into Anthropic. I mean, Jesus, if anyone's got brownie points inside a firm for leading a deal, it's the dude that led Anthropic. Come on, he can do anything for years and he's got a whole pass. But then he follows it up with check this out. Investing in lovable and then investing in Lagura? I mean this man is just hitting banger after banger.

Matt is on a tear right now, almost more than any other venture investor. And so it was an incredible opportunity to sit down with Matt. He's a dear friend, and this is honestly two friends, shooting the shit, if I'm allowed to say that, and having a great discussion. But before we dive into the show today. Founders face a different set of challenges at every stage of growth. For Sid Shade, Co-founder and CEO of D Matrix, JP Morgan delivered the guidance and expertise to help navigate what came next. He credits JP Morgan's high-touch approach with supporting D Matrix as it grew and expanded internationally. Whether you're in the early days or expanding into new markets, JP Morgan helps startups navigate complexity with real confidence, offering personalized guidance and deep sector expertise. Find out how JP Morgan helps founders at JPmorgan. com forward slash grow without limits. JP Morgan is the bank of the innovation economy. While JP Morgan supports growth, Corgi protects it.

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