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Harry Stebbings

๐Ÿ‘ค Speaker
31979 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

I don't understand because government is a mega portion of their efforts and workload today.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

And like both of them, when I speak to them, are like, oh, we're absolutely coming for Europe.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

So how do they get around that?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

You said about obviously being involved with Anthropic since the earliest of days.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

I'm just fascinated.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

I think people kind of forget about their early days almost.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

People talk about like, oh, SBF investing early and what a visionary he was.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

What was Anthropic and Dario like in the early days?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

Is there anything you would have advised them differently, knowing all that you know now?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

Is it not impossible not to be hauled up in front of Congress if you reach a certain scale?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

Whether you're Google or whether you're Facebook or whether you're anthropic fighting against the Pentagon, you get to a scale where it is impossible not to have that conflict.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

I actually had a chat with a mutual friend of ours who asked not to be revealed.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

And they said, for fuck's sake, all these PBCs, public benefit corporations, will these startup founders not just fucking win their market first?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

What decision can you foresee with AMP that is aligned to your mission, but does not put the profit motive slash incentive first?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

Ange, how do you secure the compute supply?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

Maybe I should know this, but it's the most starved resource today.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

How do you secure a resource that no one else can seemingly secure?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

When you think about allocating it, are you not using compute and the cost of compute as a loss leader for your venture fund business, which then comes in and says, okay, you name any of your incredible businesses that you run, whether it's your Anthropics, your Mistrals, your Black Forest Labs, and say, okay, you'll get the compute at cost.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

But for that,

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Anj Midha on Investing $300M into Anthropic | The Early Days of Anthropic & How 21 of 22 VCs Turned it Down | The Four Bottlenecks to Compute | What the China Has Smashed and Why We Should Be Worried

We need $300 million invested.