20VC: Sequoia's Leadership Transition | Michael Burry Shorts NVIDIA and Palantir | Gamma Raises $100M at $2BN | Has Defensibility Died in a World of AI | Datadog Surges as Duolingo Plummets: What is Happening

**Jason** (0:00)
The tools are great. When the AI is part of your team, for real, not VC talk, the amount of revenue that it's accessible is so high.

**Rory** (0:08)
Sell shit to the people who are making AI, and if they grow, you'll sell more shit too.

**Jason** (0:12)
You just can't take that early first month explosion as seriously as you used to. It's not as defensible.

**Rory** (0:18)
The pace of evolution is so fast. If you decide, well, what I knew six months ago was still useful, you're probably going to be wrong very quickly, right? That's what I find the most stressful about right now.

**Harry Stebbings** (0:27)
But before we dive into the show today, you've heard me mention Guardio before. They protect millions of people from phishing, scams and online threats. But now something genuinely exciting has happened. Lovable, one of the fastest growing AI platforms, just integrated Guardio directly into their Gen. AI chain. What that means? Every single site built with Lovable now gets scanned in real time. Phishing pages, impersonation sites, scam redirects are blocked before they ever go live. And that's a huge shift. It's rare to see companies take responsibility for the safety of the broader internet. Lovable did, and Guardio is the engine making that possible. Guardio also leverages advanced AI threat detection to block highly targeted socially engineered scams before they ever reach you. From phishing emails and fake login pages to financial fraud, Guardio protects you across the way you actually live and work online. If you want to see what modern proactive protection looks like and protect your platform, go to guard.io/20vc.
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**Rory** (3:56)
You have now arrived at your destination.

**Harry Stebbings** (3:59)
Guys, it is so good to be back with you. I've just come back from my AGM and it's a humbling thing for me because for 10 years I did this show solo and then I go to my AGM and do you know what everyone says? Oh, we love Rory and Jason. We love Rory and Jason. And I suddenly realized that I wasn't the star of the show.

**Rory** (4:19)
Just kick us off. End this now. Fine.

**Harry Stebbings** (4:22)
I'll kick us off with big, big venture news. We've said before about Sequoia being the king's of venture leadership transition at the top. We saw Rodolphe Botha moving out as steward after a three-year tenure and being replaced by Pat Grady and Alfred Lin, which was, I think, quite surprising news to the venture ecosystem. I'd love to hear how you thought about it.