20VC: Apple Sues OpenAI | Zuckerberg Back on X and Challenging Codex and Claude Code | SK Hynix's $26BN IPO | Is Seed Investing Dead: Jason Calacanis Departs Seed for Growth | Greylock Raises New $1.5BN Fund

**Rory O'Driscoll** (0:00)
To some extent, it may have been a distraction for OpenAI that they were so successful in consumer.
If this was a mercy killing, Apple may have done them a favor. If there was action on threads, Harry, you'd be there. Action on Mars, Harry, you'd be there. Every company with a CIO who's half awake is gonna have a cheap token model to hand to stop this madness. Shit, I'm putting everyone out of job. The least I can do is keep them alive. Treason does not succeed, but what's the reason? If it does succeed, no one calls it treason. In the early stage, when you're on the board, you can't invest in two competitors. In the late stage, structurally, you have to.

**Jason Lemkin** (0:34)
If you don't want to be worth 1x, like, do something before it's too late, man.

**Harry Stebbings** (0:37)
This is 20VC with me, Harry Stebbings. It is your weekly listen. Everything you need to know that's gone down in tech this week. Rory O'Driscoll, Jason Lemkin and me are pining on the agenda for today. So, number one, Apple sues OpenAI for trade secret theft. Number two, Meta fights back on the coding model front. And Zuck is back on X. And then number three, SK Hynix prices a $26.5 billion NASDAQ listing, bringing the compute and infrastructure layer to the public domain. But before we dive into the show today, what's one thing in business that's spreading as fast as AI? AI risk. Every new tool your team signs up for, every vendor that turns on AI features, every new integration, each one, I'm sorry to say, is an opportunity for something to go wrong. And most security programs weren't built for AI's pace of growth. Well, that's where Vanta comes in. Vanta is the number one agentic trust platform used by over 16,000 fast moving companies, like Ramp, Cursor, Harvey and more, to ensure they're always audit ready. And now Vanta is helping companies like yours. Watch for the risks that show up between audits. Across your vendors, your AI tools and your whole environment. How? Well, the Vanta agent works like a 24-7 GRC engineer in the background, finding issues, drafting fixes, and cutting vendor agreements time by up to 50%. Whether you're a fast-growing startup or a global enterprise, Vanta is here to help you automate your security and your compliance and earn and prove trust. My listeners get a special offer. Oh yes, a special offer. $1,000 off Vanta at vanta.com/20vc. That's vanta.com/20vc for $1,000 off. While Vanta keeps compliance covered, Deal helps you hire globally. Founders scale startups faster on Deal. Grow without borders. Deal handles the hard parts of global hiring so you can stay focused on growth. Set up payroll for any country in minutes. Hire anyone, anywhere and get visas handled fast. Deal takes care of onboarding, HR, IT, EOR, benefits and compliance. Everything your startup needs to scale quickly. All done fast in one place. It's why more than 40,000 fast growing companies like Air Wallachs, Eleven Labs and Intercom trust Deal to move fast and get back to building. Visit deal.com/20vc.
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**Rory O'Driscoll** (4:23)
You have now arrived at your destination.

**Harry Stebbings** (4:25)
Guys, it is so good to be back. As always, there is a lot for us to discuss.
Why don't we start with the trillion-dollar company that is Apple as it brings in another trillion-dollar company in the form of OpenAI where Apple sues OpenAI for trade secret theft. Essentially, one of Apple's long-term 24-year vets, was taking secrets to OpenAI and sharing information that he shouldn't have been.