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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

I think the truth is, if you're going 75 to 100 percent, you're fine.

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

Stop.

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 you're going 100 percent at 50, you're going to be at 100.

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 your growth decays to 80.

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're going to be at 180.

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 your growth decays to 40 or 50.

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're at 300.

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're going to get to scale.

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've got your funny face on for listeners who can't see it.

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

Harry's got on his I disagree face.

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 going back to your pushback, Harry, I mean, I think it's in the framing of your question.

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

Let me tell you precisely why I think you're 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

You said if you were the CEO of X, Y, or Z, and you're going at 70%, then you kind of did the throwing your hands up in the air thing.

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 you're wrong for them, 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 mean, what is true is this.

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 you're growing 50, 70, if you're at 50 million growing 50 or 70%, you may struggle to get venture capital because you're right, everyone's focused on correctly on the things that have the embedded upside of potentially exploding to hugeness.

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 you're probably at a stage now where that kind of mega growth is not going to reaccelerate from there.

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 the probability of a mid-stage SaaS company exploding into something amazing is rounding error zero.

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 as an investor, that's not attractive.

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

As a person who owns that asset, maybe you own 20% of it, right?