The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Byron Deeter is a Partner at Bessemer Venture Partners, and one of the most renowned SaaS investors. Byron has led 19 unicorn investments, including IPO successes like ServiceTitan, Procore, Twilio, Box, Gainsight, Intercom, DocuSign, SendGrid. His portfolio includes eight companies that have gone public. Insane.  Agenda: 00:00 – Why are the stakes in AI higher than ever before? 05:20 – Is defensibility in AI gone for good? 07:40 – Do margins even matter when backing the next Anthropic or Perplexity? 09:50 – How does Byron think about future dilution when investing in AI today? 12:10 – With 40% of venture money going to 10 deals, is there any point investing elsewhere? 13:40 – Is vertical SaaS dead? Is there any point when the large players can own it? 18:00 – Will AI shift from the tech budget to the human labor budget and unlock trillions? 21:10 – Are we entering the era of billion-dollar businesses built by 10 people? 25:20 – Is treble-treble-double-double now too slow for AI companies? 33:10 – In today’s AI gold rush, is it better to scream the loudest or just build the best product? 41:10 – What specific growth rates are best in class, good and not good enough today?  55:00 – Is venture now just a game of scale — Chanel vs. Walmart?

Agenda: 00:00 – Databricks hits $100B: Bubble or just the beginning? 03:15 – Is Databricks actually undervalued at 25x revenue? 07:40 – Are we on the verge of the biggest IPO wave ever? 11:30 – Can Andreessen’s Databricks bet return $30B+? 18:10 – Who really gets rich when mega-unicorns IPO? 19:30 – Is the return of Chamath’s SPACs the ultimate bubble signal? 28:00 – Should OpenAI staff be cashing out billions in secondaries? 33:30 – Founder raises $130M… then walks away. Is this the new normal? 36:30 – Nubank’s $2.5B profit: The best FinTech in the world? 48:00 – On Running at $15B: Can consumer brands still be VC-backed rockets? 52:00 – CoreWeave takes on $11B in debt: smart bet or ticking time bomb? 1:11:00 – Will AI spend really hit trillions—or is it all hype?

Anton Osika is the Co-Founder and CEO @ Lovable, the fastest growing company on the planet. In just 7 months, they have scaled from $0 to $120M in ARR. They have raised over $200M in funding from some of the best including Accel, Creandum and 20VC. Their latest round priced the company at a whopping $2BN.  Agenda for Today: 00:00 – Is AI an Arms Race… Or Just a Talent War? 03:45 – How Does Anton Compete with Zuck’s $100M Packages for Talent 07:30 – Founder Mode vs. Structure: Can Chaos Scale? 10:15 – The Brutal Truth About Defensibility in AI Startups 13:20 – Unit Economics: Are AI Companies Doomed to Bleed Cash? 17:00 – GPT-5: Game-Changer or Overhyped Disappointment? 20:10 – How Lovable Hit $100M ARR in Just 7 Months? 25:15 – Replit, Figma, Bolt: Which Competitor is the Best? 30:00 – The Security Bombshells No One Talks About 36:40 – Should Anyone Still Study Computer Science? 40:30 – Work-Life Balance Is Dead: Inside Anton’s 10x Culture 56:00 – OpenAI, Anthropic, or Grok: Who Wins the AI Wars?

Max Junestrand is the Co-Founder and CEO @ Legora, the collaborative AI powering the next generation of lawyers. Now this is an insane story for many reasons; first, Max turned down a multi-million dollar career in gaming to build Legora. Second, he has raised from the best of the best including Benchmark and IVP. Third, he has scaled the firm with 1/6th of the capital of his closest competitor, Harvey have raised a reported $800M while Legora have raised just $120M.  Agenda: 00:03 – From Pro Gamer to AI Founder: How World of Warcraft Shaped Max’s Mindset 04:58 – The $5–10M Gaming Career He Walked Away From 07:55 – Are AI Models Plateauing… or Just Getting Started? 10:02 – Swarms of LLMs: The 100x Cost Bet That Could Change Legal Forever 12:00 – Partnering With the Lawyers You’re “Killing” 15:00 – How He Cracked Sweden’s Hardest-to-Enter Law Firm 21:45 – The $500K Coffee That Saved the Company at YC 30:00 – Closing 15 Term Sheets in 7 Days – Why Benchmark Won 36:00 – Beating a $5BN Rival With a Fraction of the Funding 53:50 – Building a Cult Culture: The 9-9-6 Mentality in Europe

AGENDA: 00:04 – Was GPT-5 the Biggest AI Letdown Yet? 00:17 – Is OpenAI’s Real Target Anthropic’s $6B Revenue? 00:22 – Why Anthropic Might Secretly Be Worried 00:28 – The Hidden Business Strategy Behind OpenAI’s “Underwhelming” Launch 00:32 – Should Perplexity Really Try to Buy Chrome for $34.5B? 00:35 – The $3B N8N Deal: Genius Bet or Bubble FOMO? 00:38 – Why Datadog’s Best Quarter Ever Still Tanked the Stock 00:44 – Palantir’s 50% Growth at Scale – Can It Last? Is Palantir Overpriced? 00:53 – Shopify’s Ruthless Path to 91% Revenue Growth With 30% Fewer Staff 01:01 – Are Seed and Series A Valuations Now at Dangerous Highs? 01:06 – What Does The Highest Levels of Capital Concentration Mean For Early Stage Founders? 01:15 – Could Palantir Hit a $2 Trillion Market Cap by 2030?