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20VC: The AI Boom Will Create Enormous Roadkill: Who Wins & Loses | Why Founders Should Never Take Multi-Stage Money at Seed | Why Triple, Triple, Double, Double is Good Enough

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20VC: The AI Boom Will Create Enormous Roadkill: Who Wins & Loses | Why Founders Should Never Take Multi-Stage Money at Seed | Why Triple, Triple, Double, Double is Good Enough

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

1 DAYS AGO
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

1 DAYS AGO
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

David Frankel is one of the great seed investors of our time. As the Co-Founder of Founder Collective he has backed the likes of Uber, Coupang, Suno, PillPack, Airtable, Whoop, Shield AI and many more. In a world of expanding fund sizes, David and Founder ...

Highlights

In this episode, David Frankel, co-founder of Founder Collective, shares his contrarian views on the current AI boom, the pitfalls of seed-stage investing, and why he believes another dot-com crash is inevitable. He also discusses the importance of discipline in venture capital and the future of AI and biotech.
00:00
The AI boom will have its roadkill.
10:31
Price matters less when investing in true winners.
27:35
Pro rata is the original sin in venture capital.
32:50
A $1 billion valuation is the new standard for Series A.
40:16
Seek a 3x return on the next funding round.
46:43
Certainty of returning capital beats potential future gains.
1:03:02
Younger workers are more adaptable to new tools.
1:13:45
A $2B exit wasn't stellar on IRR, but the journey was rewarding.
1:18:42
Presence and kindness are the keys to genuine connection.
1:19:57
AI will make current treatments like chemo outdated.

Chapters

The Bubbles Are Getting Bigger—and There Will Be a Lot of Roadkill
00:00
The Worst-Performing Funds Will Be the $50M–$100M Seed Funds
05:21
"We're Greedy for Returns, Not Management Fees"
25:06
"Pro Rata Is the Original Sin"
30:10
"A $1BN Valuation Is the New Series A"
32:59
"I Have Never Seen Secondary Markets This Liquid"
46:39
Microsoft Has Done a Crappy Job of AI—and Another Dot-Com Crash Is Inevitable
58:03
OpenAI and Anthropic Will Be Disrupted—and China Could Do It
1:08:25
"Anyone Who Claims They Knew Is Full of Shit"
1:16:12
Our Children Won't Need to Drive—and Chemotherapy Will Look Prehistoric
1:19:56

Transcript

David Frankel: the bubbles get bigger. This is the wave of our lives. Will there be roadkill from this wave? Oh my God, there's going to be a lot. Well, the problem is the mega platforms are taking call options. Pro Rata is almost like the original sin. I ...