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First Round CapitalTwitter's former CEO on rebuilding the web for AI | Parag Agrawal (Co-founder and CEO of Parallel)
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EPISODE INFO
- Released
- August 14, 2025
- Duration
- 1h 5m
- Channel
- First Round Capital
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
Parag Agrawal is the co-founder and CEO of Parallel, a startup building search infrastructure for the web’s second user: AIs. Before launching Parallel, Parag spent over a decade at Twitter, where he served as CTO and later CEO during a period of intense transformation, as well as public scrutiny. In this episode, Parag shares what he learned from his time at Twitter, why the web must evolve to serve AI at massive scale, how Parallel is tackling “deep research” challenges by prioritizing accuracy over speed, and the design choices that make their APIs uniquely agent-friendly. We also discuss:
- Why Parallel designs for AI as the primary customer
- Lessons from 11 years at Twitter and applying them to a startup
- Potential business models to keep the web open for AI
- Hiring philosophy: balancing high potential and experienced talent
- The evolving role of engineers in an AI-assisted world
- Why “agents” are finally becoming useful in production
- And much more…
References:
- Clay: https://www.clay.com/
- Index Ventures: https://www.indexventures.com/
- Josh Kopelman: https://www.linkedin.com/in/jkopelman/
- KLA: https://www.kla.com/
- OpenAI: https://openai.com/
- Parallel: https://parallel.ai/
- Patrick Collison: https://www.linkedin.com/in/patrickcollison/
- Stripe: https://stripe.com/
Where to find Parag:
- LinkedIn: https://www.linkedin.com/in/paragagr/
- X/Twitter: https://x.com/paraga
Where to find Todd:
- LinkedIn: https://www.linkedin.com/in/toddj0/
- X/Twitter: https://x.com/tjack
Where to find First Round Capital:
- Website: https://firstround.com/
- First Round Review: https://review.firstround.com/
- X/Twitter: https://twitter.com/firstround
- YouTube: https://www.youtube.com/@FirstRoundCapital
- This podcast on all platforms: https://review.firstround.com/podcast
Timestamps: (1:26) Founding Parallel with an AI-first mission (3:23) From Twitter CTO/CEO to startup founder (6:20) What the AI era spells for companies (7:58) The CEO to founder pipeline (11:18) Reflections on Twitter’s transformation (17:48) How Parallel was born (22:31) Early use cases for Parallel (31:42) How has Parallel’s ICP changed? (34:37) AI’s impact on competitor dynamics (36:06) When should founders launch? (37:43) Parag’s fundraising framework (40:14) Building a high-impact engineering team (44:49) Counterproductive uses of AI (47:35) How will the software engineer role evolve? (49:10) How are Parallel’s customers using AI? (53:27) Defining agents in 2025 (55:02) Parallel’s long-term vision (1:03:43) Parag’s growth as a founder
SPEAKERS
Parag Agrawal
guestCo-founder and CEO of Parallel and former CEO of Twitter.
Todd Jackson
hostPartner at First Round Capital and podcast host/interviewer.
EPISODE SUMMARY
In this episode of First Round Capital, featuring Parag Agrawal and Todd Jackson, Twitter's former CEO on rebuilding the web for AI | Parag Agrawal (Co-founder and CEO of Parallel) explores Parag Agrawal explains rebuilding the open web for AI agents Parag Agrawal says Parallel builds APIs that let AIs access the web, based on the belief that AIs will use the web a thousand to a million times more than humans, and that its products hit human-level or better performance on deep research benchmarks.
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