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Anthropic's Raise & What It Means for Potential IPO? Mag7: Google & Amazon Up, Meta & Microsoft Down

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 01:06 Mag7 Earnings: The "Super Bowl" of Tech Results 04:59 Google's Cloud Explosion & The AI Search "Disruption" That Never Came 14:46 Microsoft's $190B Bet: Is AI the Only Thing Keeping Growth Flat? 21:24 Meta's $150B Future Bet vs Wall Street's Need for Spreadsheets 28:14 Palantir's Home Run: Why Big Companies Spend Big Money on AI 39:42 Apple's Quiet Consistency & The Stealth Inflation of Memory Chips 42:37 The SaaS Apocalypse Over? Atlassian and Twilio Lead the Re-acceleration 01:04:17 Anthropic's $50B Raise & The Math Behind Token vs. Salary Spend 01:10:57 Sierra's $15B Valuation: Replacing the $400B Customer Service Labor Market 01:19:30 Musk vs Altman Trial 01:23:49 The End of Managers? Brian Armstrong & The Rise of the "Individual Contributor" ---------------------------------------------------------------------------------------------- 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... ----------------------------------------------- Legal Disclaimer: The content of this podcast is for informational and entertainment purposes only and does not constitute financial or investment advice. Any discussion of stocks, public markets, or investment strategies reflects the personal opinions of the speakers and should not be relied upon when making investment decisions. Figures, valuations, and financial data referenced may be estimates or subject to error. Always consult a qualified financial adviser before making any investment decision. The views expressed are those of the individual speakers and do not represent the views of 20VC or its affiliates. ----------------------------------------------- #20vc #harrystebbings #roryodriscoll #jasonlemkin #mag7 #palantir #anthropic #sierra #google #microsoft #meta #apple

Rory O’DriscollguestHarry StebbingshostJason Lemkinguest
May 7, 20261h 36mWatch on YouTube ↗

Episode Details

EPISODE INFO

Released
May 7, 2026
Duration
1h 36m
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 01:06 Mag7 Earnings: The "Super Bowl" of Tech Results 04:59 Google's Cloud Explosion & The AI Search "Disruption" That Never Came 14:46 Microsoft's $190B Bet: Is AI the Only Thing Keeping Growth Flat? 21:24 Meta's $150B Future Bet vs Wall Street's Need for Spreadsheets 28:14 Palantir's Home Run: Why Big Companies Spend Big Money on AI 39:42 Apple's Quiet Consistency & The Stealth Inflation of Memory Chips 42:37 The SaaS Apocalypse Over? Atlassian and Twilio Lead the Re-acceleration 01:04:17 Anthropic's $50B Raise & The Math Behind Token vs. Salary Spend 01:10:57 Sierra's $15B Valuation: Replacing the $400B Customer Service Labor Market 01:19:30 Musk vs Altman Trial 01:23:49 The End of Managers? Brian Armstrong & The Rise of the "Individual Contributor" ---------------------------------------------------------------------------------------------- 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... ----------------------------------------------- Legal Disclaimer: The content of this podcast is for informational and entertainment purposes only and does not constitute financial or investment advice. Any discussion of stocks, public markets, or investment strategies reflects the personal opinions of the speakers and should not be relied upon when making investment decisions. Figures, valuations, and financial data referenced may be estimates or subject to error. Always consult a qualified financial adviser before making any investment decision. The views expressed are those of the individual speakers and do not represent the views of 20VC or its affiliates. ----------------------------------------------- #20vc #harrystebbings #roryodriscoll #jasonlemkin #mag7 #palantir #anthropic #sierra #google #microsoft #meta #apple

SPEAKERS

  • Rory O’Driscoll

    guest

    Venture capitalist and investor focused on technology companies and market dynamics.

  • Harry Stebbings

    host

    Founder and host of 20VC, interviewing and moderating discussions with leading venture investors and operators.

  • Jason Lemkin

    guest

    Founder of SaaStr and SaaS-focused investor/operator, known for go-to-market and SaaS scaling expertise.

EPISODE SUMMARY

In this episode of The Twenty Minute VC, featuring Rory O’Driscoll and Harry Stebbings, Anthropic's Raise & What It Means for Potential IPO? Mag7: Google & Amazon Up, Meta & Microsoft Down explores mag7 earnings reveal AI capex winners, SaaS rebound, private-market frenzy Alphabet is framed as the earnings-season standout as Search resilience and surging Cloud backlog/capex signal that incumbents are “leaning in” rather than being disrupted by LLMs.

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