20VC: Instinct Raises $1B at $10B Valuation | AMD Buys Fei-Fei Li's World Labs for $8.2B | Meta Poaches MongoDB's CEO | Bessemer Raises $5.75B | Oura Pulls IPO & Nubank Eyes $8–12B Monzo Takeover

Rory O'Driscoll (0:00)

I thought you'd tiptoe in, and I gotta hand it to you. When we're embracing this thing, we're fucking embracing it. It's 10 billion pre, pre-revenue, big ass check. No mincy little steps here. It's all in on day one. So congratulations. It's like coming off the dry and invading the booze.

Jack Altman (0:17)

We're definitely not investing at the right speed. We are either investing way too fast or way too slow.

Rory O'Driscoll (0:22)

Returns are going to be highly skewed. Variance is going to go up with AI, and many of you will fail.

Jack Altman (0:27)

There are like 10 companies that can do $10 billion acquisitions and want to.

Rory O'Driscoll (0:32)

Money is a signal, price is a signal, and price is sending a signal, everybody go right here.

Jack Altman (0:37)

It's a talent war in the most insane way right now.

Jason Lemkin (0:40)

I think open source has reached its maximum as a market share. I think it's going to keep going down. No one wants to run on open source models there. At least Chinese, China based, nobody.

Jack Altman (0:49)

It's kind of all just going to come down to like who's got the compute.

Jason Lemkin (0:52)

Even a billion starts to sound small for seed funds if you believe 30 millions of seed.

Rory O'Driscoll (0:56)

If we're willing to fucking trust them not to blow up the world and they've already said they might and it's only a 10% chance, I think we can trust them to with the votes.

Harry Stebbings (1:04)

This is 20VC with me, Harry Stebbings. It's my favorite show of the week. Rory O'Driscoll, Jason Lemkin and a special guest in Jack Altman from Benchmark joins us in the hot seat. So what do we have on the cards today? Well, Anthropic's draft S-1 leaks. We break that down. AMD, baby, they are in the market to buy. Fei-Fei Li's World Labs sells to AMD for 8.2 billion in stock and then ka-ching Mr. Mark Zuckerberg decides to whack out the checkbook to hire MongoDB's CEO and pinch him for Muse Enterprise, this and so much more in a blistering episode out today. But before we dive into the show today, when you're building a company, you learn that trust is what closes deals. You may have the best product, but no buyers will sign these days without proof of your security. Here's what happens if you're not prepared. A prospect asks for proof of compliance. The deal stools when you scramble. Your engineer gets pulled off the roadmap to audit prep. Every enterprise conversation turns into this horrible fire drill. That's where Vanta comes in. Vanta is the leading agentic trust platform that not only gets you compliant fast with frameworks like SOC 2, ISO 27001, HIPAA and GDPR, but keeps you compliant by continuously monitoring your controls. So your deals keep moving and your engineers really keep building. Now, access the Vanta agent everywhere you work, even if your team lives in Claude or Cursor. And that's why Vanta is trusted by more than 16,000 companies like Ramp, Harvey and Writer. So prove you're ready for business and get $1,000 off Vanta when you go to vanta.com/20vc, that's vanta.com/20vc.

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