Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Jason Lemkin

๐Ÿ‘ค Speaker
3062 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

If it goes to jury, I think two comments I will make.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

From a facts perspective, I think in the end, Elon has to prove his case, and it's a high bar to prove.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

You got to prove that all, it's a very hard, you got to prove right when they were raising the money charitably, they were all along intending to swipe it and build a for-profit.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

And I think that's very hard to do because Altman's money went in as a for-profit, a not-for-profit too.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

So I think it's fundamentally, I think Elon's wrong on the core assertion.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

I don't think this was a cunning device.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

to cheat everyone.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

Because if they wanted to do that, they could have just done what Entropic did, which is the totally sensible interim stage of a public benefit corporation and saved all this freaking drama.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

So I think stripping aside all the bad facts, I think the core assertion Elon is making, which is they misled me into giving them $30 million for this thing, which was never going to be a charity.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

And therefore, I get my money back.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

I think that's wrong.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

but to your point you still got to prove it to a jury.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

Now the other comment is remember he has to prevail so as long as there's one person on the jury who hates him more than he hates Sam he ain't going to win.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

It's going to be hard

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

First of all, it's going to be a very unattractive cast of characters, an Oakland courtroom.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

You get Sam to come in and say, hey, talk about how you said this is going to make everyone unemployed.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

Then you get Elon to come in.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

They're going to hate the whole being on the stand thing, which everyone's going to have to go on, right?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

I think the jury will get, if they get into that room, they're going to go, wow, I don't like any of these people.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Sam Altman vs Elon Musk: The $100BN Battle | The Implosion of Thinking Machines | Can VC Survive Public Market Pricing Today? | ClickHouse and Replit's New Rounds: Analysed

But the problem is this, for Elon to win, he has to get them to all vote for him.