20VC: Why To Win in AI, Investors Need to Change Their Approach | Why VC is Run by Principals and Associates and is a Broken System | The Bull Case for Anthropic & Whether Deepseek Changes Their Strategy with Nabeel Hyatt @ Spark Capital

industry today is run basically by principal's associates and junior GPs. A principal is not actually waiting for an exit. They just want a promotion, man. We are in the industrialization of startups playbook land where everybody's trying to churn out some piece of ridiculous arbitrage every week in order to get through the end of their incubator and raise their seed round. There is absolutely a belief that too much capital can mess up a company. This is twenty V C with me, Harry Stubbings. Now our guest today has been a friend of mine for about Eight or nine years, if you can believe it. He's very modest, and so he doesn't really want the intro to be about him. So I'm gonna leave it with Nabil Hyde is a general partner at Spark Capital. Spark is one of the leading firms of the last decade, with portfolio companies including Twitter, Anthropic, Coinbase, Affirm, Discord. deal and more. And I do just want to say again on Nabil. Nabil helped me, advised me, was a friend when the show was very small and no one cared. That to me is the sign of true kindness. And so I really appreciate the friendship, Nabil.

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