The Twenty Minute VCThinking Machines Co-Founder Joins Meta for $3.5BN, Industry Venture's $665M Acquisition
Episode Details
EPISODE INFO
- Released
- October 16, 2025
- Duration
- 1h 25m
- Channel
- The Twenty Minute VC
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
Roger Ehrenberg is a leading seed investor, founder of IA Ventures, and now runs Game Changers Ventures, a $100M fund investing at the intersection of sports, media, entertainment & technology. 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 00:51 Pre-Show Chat: Rory Is So Old He Worked with Arthur Rock!!! 04:42 Goldman Sachs Acquires Industry Ventures for $665M 14:45 Thinking Machines Co-Founder Raises $2BN and Then Leaves for Meta 30:05 SoftBank Goes for $5BN Leverage Against ARM Stock To Buy More OpenAI 33:41 More Data Centres Than Offices: Are We In a Bubble 46:27 Where is the Alpha in Venture in 2025 57:19 What 90% of Managers Get Wrong About Portfolio Management ---------------------------------------------------------------------------------------------- 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 Roger Ehrenberg on X: https://x.com/infoarbitrage 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 #openai #thinkingmachineslab #goldmansachs #ai #meta #openai #polymarket #vercel #supabase
SPEAKERS
Rory O’Driscoll
guestVeteran venture capitalist and long-time VC panelist (started investing in the early 1990s).
Jason Lemkin
guestSaaS founder and early-stage investor known for operator-driven venture commentary.
Harry Stebbings
hostFounder and host of 20VC, interviewing and moderating venture and tech leaders.
Roger Ehrenberg
guestVenture capitalist associated with IA Ventures, focused on early-stage investing and fund construction.
EPISODE SUMMARY
In this episode of The Twenty Minute VC, featuring Rory O’Driscoll and Jason Lemkin, Thinking Machines Co-Founder Joins Meta for $3.5BN, Industry Venture's $665M Acquisition explores venture news dissected: secondaries M&A, AI talent wars, and portfolio strategy Goldman Sachs’ $665M acquisition of Industry Ventures is framed as a rational “asset manager” deal valued as a percentage of AUM and enabled by Goldman’s distribution to private-wealth clients.
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