20VC: OpenAI's $6BN Jony Ive Deal | YC Is Both Chanel and Walmart—and Has Officially Won | Builder.ai Implodes and Hinge IPOs: Who Wins & Who Loses | Seed Is Easy. Series A Is Brutal & The Dirty Truth About Late-Stage Venture
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The wars that you choose to engage in dictate what it has to take to win. We have to let go of this vision that venture has to involve fund returners. The only way the math works is if you stuff money into the very best company and you don't end up with a balanced portfolio. You end up literally with one company having 20, 30% of your fund in it, and that company turns out to be the big winner. I think your absolute assumption has to be YC has won.
It's the greatest, one of the greatest equity businesses ever. This is 20 VC with me, Harry Stebbings. Now it is my favorite show of the week, the news roundup with me, Jason Lemkin and Rory O'Driscoll. Today we discuss Insights, two deals, the winner, the loser, hinge and builder.
We discussed the IPOs of Mountain and Hinge, what happens to the Chime IPO investors and the later stage investors, who wins, who loses, will Elon become the first half trillionaire and so much more. Also Johnny Ive joining OpenAI part-time, the discussion there. This was so much fun to do. I want your feedback on these shows. Let me know, Harry at 20vc.com.
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