20VC: Will SpaceX IPO at $1.5TRN | Will Cursor Kill Figma | Lightspeed Raises $9BN | OpenAI: $1BN from Disney, New CRO & #1 App in App Store | Oracle and Broadcom Hit: Now the Time to Buy?

**Rory O'Driscoll** (0:00)
Tick, tick, insert nine billion dollars.

**Jason Lemkin** (0:02)
All these leaders not IPOing is the greatest gift to venture in our lifetimes. It's playing the growth super cycle bet today. That's the winning play.

**Rory O'Driscoll** (0:10)
There is nothing as terrifying as a high growth bet that slows down. This is the epicenter of the enterprise AI revolution right now. You got to make yourself cool, because 30% growth, that's what's cool. What I realized is you have to factor in what I'm now going to refer to as the EOV, the Elon option value. You can't run the numbers on SpaceX and come up with 1.5 trillion, you just can't.

**Harry Stebbings** (0:33)
This is 20VC with me, Harry Stebbings. It is my favorite show of the week. Jason Lemkin, Rory O'Driscoll, the biggest news in tech, no politics. This week we discussed Lightspeed's $9 billion fundraise. Will Elon be able to take SpaceX public at $1.5 trillion? And all the goings on that happened at OpenAI HQ. Disney's $1 billion investment, topping the charts for the App Store this year and so much more. As always, I want this show to be the best episode you listen to in a week. Let me know what we can do to make it better. harry at 20vc.com But before we dive into the show today, now most people who get scammed never talk about it. And if it can happen to tech savvy professionals, CEOs and investors, it can happen to anyone. But the problem isn't just losing money, it's that today's scams, they're built differently for a very new world, one where AI can generate convincing messages in seconds, and fake sites look more like real sites than the real thing. Traditional tools were not built for this future, and that's why Guardio exists. Guardio is this incredible predictive and proactive engine. It 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 ways people actually live and work online. And security shouldn't be complicated. Guardio continuously monitors across all your accounts and devices, uncovering risks in real time, and guiding you to close gaps before attackers exploit them. Trusted by over a million users, Guardio is setting the new standard for personal cybersecurity. Visit guard.io/20vctoday to start your 7-day free trial, because the threats of tomorrow, they're already here, and Guardio is built to stop them. And as guard.io defends your clicks, HubSpot terms them into customers. You want to grow your company, right? But instead of having the time to get to the next level, you start maintaining the status quo. It's fricking maddening. Well, HubSpot's customer platform, it actually solves this. Breeze. No, it is not a fabric refreshener. This is the next generation. Their built-in AI takes over all the busy work. It writes emails. It qualifies leads. It answers common customer questions, and even help create content. Also, your marketing, your sales, your service teams can focus on what matters most. And the impact is undeniable. Teams are saving 750 hours a week. One even increase leads by 251%.
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**Rory O'Driscoll** (4:38)
You have now arrived at your destination.

**Harry Stebbings** (4:41)
Boys, it is great to be back. Jason, you look very smart today. Thank you for joining us from the Beach House.

**Jason Lemkin** (4:47)
You're welcome.

**Harry Stebbings** (4:48)
Got to have one. Got to have one. Me and Rory are in the office, but we're back. What can I say?