20VC: Applovin: $160BN Market Cap, $5.48BN Revenue, $10M EBITDA Per Head | Why the Best Do Not Need Mentorship | Why Founders Should Not Angel Invest | Why Kindness in Business Will Slow You Down with Adam Foroughi

**Adam Foroughi** (0:00)
A lot of the things that we've been able to accomplish just don't make sense to people. And in a world where things don't make sense, people think you're cheating. The founder mentality has got to be chase winning.
In order for me to get paid anything, the stock had to clear that and then keep going up from there. Almost in every relationship in my life, I was never really present. That fear of blow up is one of my big motivators. And so...

**Harry Stebbings** (0:32)
This is 20VC with me, Harry Stebbings. Now, I have interviewed a thousand CEOs of the largest companies over the last ten years. This guest, Adam Foroughi, is top five I've ever met. Easily. Applovin's market cap, $160 billion. Their revenue, $5.48. And check this out, their EBITDA per head is $10 million. There is no company on the planet with numbers like Applovin. Of all the shows that I've done genuinely in the studio, this is the favorite one for me that I've ever done with a CEO. But before we dive into the show today, you have the idea, but often with AI tools, you hit a wall. Well, Base 44 is where that friction disappears. Turning how you talk into how you build. Full stack web and mobile apps, sites, autonomous super agents, all built in minutes, not weekend spent on damn configuration. Base 44 ships it all out of the box. The backend, the database, the authentication and the hosting. It handles the heavy lifting, so you can just stay in the flow. It doesn't just replace the busy work, it multiplies you. It makes you so much more capable, an effective version of yourself. In this market, being fast is the baseline. But to win, you got to be first. And Base 44 is that edge. It's the move that lets you skip the troubleshooting and get straight to the breakthrough. Launch your next big thing at base44.com. That's base44.com. After Base 44 helps you launch, Corgi helps you cover what comes next. My word, what an arresting first line. Get your ass covered with Corgi insurance. And I'll tell you why. If you're running a business right now, you already know this pain all too well. Getting insurance, it's really slow, it's confusing. And my word, it's full of paperwork. Well, that's exactly why Corgi is here to change the game. Corgi is the first and only insurance carrier designed specifically for tech companies, allowing you to get covered in minutes instead of days. Corgi provides essential coverages for all growth stages, such as D&O, E&O liability, cyber, commercial, general liability and more. Get your ass covered. I love the way we say ass with Corgi insurance alongside thousands of other startups at corgi.com/20vctoday.
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You have now arrived at your destination. Adam, I'm so excited for this dude. It's funny, I sent you the schedule beforehand. You're like, that's a lot of questions. I stalked the shit out of you before this, just to be clear. So, thank you for agreeing to this onslaught of questions.

**Adam Foroughi** (4:26)
Yeah, I like it. I try to go unscripted, so I can't say I reviewed them, but it was a lot of questions.

**Harry Stebbings** (4:31)
I don't know why. Reviewing them is always a way to have a manufacturer conversation. So, this is going to be completely unscripted. One thing that I'm always just trying to understand before we dive in is, like, mentality of entrepreneur. There's two types of people. People that are motivated by losing or people that are motivated by winning.