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20VC: Why VC Today is Worse Than 2021 | Why Vertical SaaS is a Bad Investment Today | Why We Are Deluding Ourselves on Growth Expectations | Revolut Raises $3BN at a $75BN Valuation | Benchmark Adds Their Newest General Partner

Overview

Shownote

Highlights

Transcript

Chapters

Pins

20VC: Why VC Today is Worse Than 2021 | Why Vertical SaaS is a Bad Investment Today | Why We Are Deluding Ourselves on Growth Expectations | Revolut Raises $3BN at a $75BN Valuation | Benchmark Adds Their Newest General Partner

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Oct 23
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Oct 23
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

AGENDA: 04:50 Benchmark's New Partner: Everett Randall 10:19 Revolut Raises $3BN at a $75BN Valuation: Another Loss for Public Markets? 28:39 Why Today is as Bad as the Hype of COVID in 2021 32:10 Why Vertical SaaS is a Bad VC Investment Today 36:14 W...

Highlights

The podcast delves into the evolving landscape of venture capital, spotlighting strategic shifts driven by AI, ballooning valuations, and changing investment dynamics. With Benchmark adding a new general partner, the conversation sets the stage for a deeper exploration of how VC firms are adapting to an increasingly complex and capital-intensive environment.
07:15
One speaker's 2017 fund is expected to hit five X on paper by year-end after many years of no returns.
10:19
The best wins start with a small niche market and expand addressable market later.
31:01
VCs may lose 80% of AI B2B investments due to ignored TAM limits
34:32
The legal sector is attractive for vertical SaaS due to high-value contracts with IP law firms.
41:07
OpenAI offloads balance-sheet risk to investors while keeping upside rewards
53:16
Over-investment in AI capacity, not tech failure, risks a future bust
1:00:03
Venture returns in the last five years have been much lower than public market returns
1:09:29
Content moderation at ChatGPT will be one of the hardest jobs in tech over the next five years.

Chapters

Benchmark Adds New General Partner
00:00
Benchmark's New Partner: Everett Randall
04:50
Revolut Raises $3BN at a $75BN Valuation: Another Loss for Public Markets?
10:19
Why Today is as Bad as the Hype of COVID in 2021
28:39
Why Vertical SaaS is a Bad VC Investment Today
32:10
Why Everyone Investing in Legal SaaS Will Lose Money
36:14
Why King Making is More Real Than Ever
44:16
Why Your Smallest Customers Need to Pay $10K Minimum
55:23
Why VC is a S*** Asset Class
1:01:37
Why Today is Harder Than It Has Ever Been in VC
1:09:29
Closing Thoughts and Reflections
1:25:18

Transcript

Rory O'Driscoll: It looks like the easiest way to make money in 2025 is to take the very biggest companies and double down one more time. Jason Lemkin: My gut tells me we're over-romanticizing verticals in the age of AI. Like, we're going to hit the same ...