The Twenty Minute VCAnthropic’s $10B Raise | a16z’s $15B Fund: Is the Middle Dead in VC? | How OpenAI Could Go to Zero?
Episode Details
EPISODE INFO
- Released
- January 15, 2026
- Duration
- 1h 30m
- Channel
- The Twenty Minute VC
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more. Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others. ----------------------------------------------- Timestamps: 00:00 Intro 01:16 Anthropic's $10 Billion Fundraise 08:59 Has Claude Code Beaten Cursor Already 16:08 OpenAI Could Still Go to Zero 25:58 Andreessen Horowitz's $15 Billion Fundraise 46:33 The Middle is Dead: Boutique vs. Large Platforms in Venture 53:27 The Future of Venture Capital 01:12:14 The Impact of Wealth Taxes on the Industry ---------------------------------------------------------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZ... Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast... Follow Harry Stebbings on X: https://x.com/harrystebbings Follow Jason Lemkin on X: https://x.com/jasonlk Follow Rory O’Driscoll on X: https://x.com/rodriscoll Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/con... ----------------------------------------------- #20vc #harrystebbings #roryodriscoll #jasonlemkin #anthropic #openai #claude #cursor #elevenlabs #a16z
SPEAKERS
Rory O’Driscoll
guestVenture capitalist (GP at Scale Venture Partners) focused on software investing and fund strategy.
Harry Stebbings
hostFounder and host of 20VC, interviewing leading investors and operators in tech.
Jason Lemkin
guestFounder of SaaStr and an early-stage SaaS investor and operator.
EPISODE SUMMARY
In this episode of The Twenty Minute VC, featuring Rory O’Driscoll and Harry Stebbings, Anthropic’s $10B Raise | a16z’s $15B Fund: Is the Middle Dead in VC? | How OpenAI Could Go to Zero? explores aI mega-rounds reshape venture capital: scale, risk, and policy shocks Anthropic’s reported $10B raise is framed as potentially pre-IPO and arguably rational on forward revenue math if current extreme growth persists another year.
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