The Twenty Minute VCInstinct Raising $1B at $10B & Meta Launches Muse | Miro Sells for $1.36B After a $17.5B Valuation
Episode Details
EPISODE INFO
- Released
- September 17, 2026
- Duration
- 1h 19m
- 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 01:24 - Should Frontier AI Labs Be Forced to Slow Down? 06:04 - Is Anthropic Preparing Its Biggest IPO Risk Factor? 10:24 - What Happens if AI Becomes Impossible to Control? 17:46 - How “Pacing the Frontier” Could Hit AI Infrastructure 21:11 - Meta Enters the AI Assistant Race With Muse 27:21 - Can Standalone AI Assistants Beat Meta and OpenAI? 29:11 - Would You Invest in Instinct at $10BN? 32:08 - Why Meta Is the Biggest Threat to AI Assistant Startups 35:18 - Could Instinct Become a $50BN Acquisition? 42:16 - Miro Sells for $1.35BN After a $17.5BN Valuation 45:30 - The Bending Spoons Playbook: Raise Prices, Cut Costs 48:22 - Are We Entering the Era of SaaS Capitulation? 01:03:50 - Why Venture Is More Extreme Than Ever 01:06:38 - Mistral Raises €3BN: Europe’s AI Sovereignty Bet 01:10:32 - Adobe’s New CEO 01:15:55 - What Happens When Growth Companies Become Value Stocks? ---------------------------------------------------------------------------------------------- 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 #muse #ai #anthropic #miro #instinct #meta
SPEAKERS
Rory O’Driscoll
guestVenture capitalist and longtime technology investor, contributing panel analysis on valuations, AI, and SaaS outcomes.
Harry Stebbings
hostFounder of The Twenty Minute VC and host of 20VC with Harry Stebbings.
Jason Lemkin
guestSaaS investor and founder of SaaStr, known for commentary on SaaS metrics, venture rounds, and companies like Adobe.
EPISODE SUMMARY
In this episode of The Twenty Minute VC, featuring Rory O’Driscoll and Harry Stebbings, Instinct Raising $1B at $10B & Meta Launches Muse | Miro Sells for $1.36B After a $17.5B Valuation explores frontier AI “pacing,” Meta’s Muse, and the new SaaS capitulation era The discussion opens with backlash to calls from Anthropic, OpenAI, and Elon Musk to “pace the frontier,” debating whether existential-risk rhetoric is credible, helpful, or a strategic move ahead of an Anthropic IPO.
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