The Twenty Minute VCInstinct Worth 30BN? | Microsoft Cuts 27,000 Jobs While Meta Taps Equity Markets for $95B CapEx
Episode Details
EPISODE INFO
- Released
- October 29, 2026
- Duration
- 1h 0m
- 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 00:49 Anthropic Files S1 02:18 Why Anthropic May Still Be Underestimated 04:49 The Scariest Metric in Anthropic’s S1 07:14 Is AI Debt Financing Starting to Break? 08:04 Why Equity Markets Could Keep the AI Spending Boom Alive 09:54 Will Anthropic Have a Monster IPO? 11:17 What OpenAI Should Learn From Anthropic’s S1 13:03 Microsoft Offers Buyouts to 27% of Employees 16:33 Why AI CapEx Could Drive Even More Layoffs in 2027 17:43 Cloudflare’s 20% Layoff: The New Playbook for CEOs? 19:27 Meta Taps Equity Markets for a $95BN CapEx Spending Spree 21:59 Are Chinese Open-Weight Models Finished in the US? 24:48 What Happens to Modal, Fireworks and OpenRouter if Chinese Models Decline? 33:14 Could OpenRouter’s Boom Be Just a Moment in Time? 35:03 “Black October”: Why AI Could Expose Every Software Vulnerability 37:32 Instinct at $30BN 40:07 Could Instinct Become the Super App of the West? 45:10 Why Investors Are Throwing Money at Proven AI Executives 46:55 Put 20% of the Fund Into OpenAI at $1.25TRN? 51:21 WarHounds at $1.5BN 55:10 Why Mega-Funds Are Raising Bigger and Coming Back Faster 57:20 Zuckerberg vs California: How Much Does a Billionaire Tax Really Matter? ---------------------------------------------------------------------------------------------- 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 #anthropic #instinct #microsoft #ai #ipo
SPEAKERS
Jason Lemkin
guestSaaS founder and investor known for SaaStr and early-stage/scale-up SaaS investing and commentary.
Harry Stebbings
hostFounder and host of 20VC, interviewing leading founders and investors in venture capital and technology.
Rory O’Driscoll
guestVenture capitalist and investor focused on technology and growth-stage company analysis.
EPISODE SUMMARY
In this episode of The Twenty Minute VC, featuring Jason Lemkin and Harry Stebbings, Instinct Worth 30BN? | Microsoft Cuts 27,000 Jobs While Meta Taps Equity Markets for $95B CapEx explores anthropic’s S1, AI capex funding shifts, and second-order layoffs Rory O’Driscoll says Anthropic’s S1 looks strong across key dimensions—margins, operating income, customer concentration, compute efficiency, and cash—making it hard to find near-term negatives beyond a few missing or nuanced disclosures.
RELATED EPISODES
