Samir Kaji
speaker
769 appearances
5 recordings
1 series
first heard Sep 2025
last heard 28 Jul
Samir Kaji’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Jul 2026 with 1.
Appearances
But more and more, that model has started to break because you have Series A and Series B investors who are now investing out of $1 to $2 billion funds, sometimes even more than that.
And the whole model there is a $25 to $50 million check to start off is just an option check for much more down the line.
And so you almost start off with companies that you want to invest in that are capital efficient, but often don't have to go down this treadmill where because the market has grown, the companies that are successful are not capital efficient because they're pushed to take on capital.
How do you reconcile the seed stage of capital efficiency, knowing that some of these companies are going to go on to be not capital efficient, given where the markets are?
And candidly, you see this too, where on Twitter, everybody seems to drop a video around, we raise a Series A and it's a founder talking, or Series B and it's 50 million.
And it almost becomes looking at sort of your neighbor and saying, can I build a bigger house?
And in this case, it's really the size of the fundraiser.
Well, I do hear that all the time, which is play the game on the field.
And a lot of it's obviously driven by incentives, right?
People are incented to play the game on the field because in times like this, when you have an extreme bull market,
That then coincides with a super cycle, in this case, AI, which I think you and I can probably agree, this is the most transformational technology event that we've seen.
You just have a lot of froth built into the system.
You graduated in 98, so did I. So you and I are the same age.
We went through the dot-com bubble together.
And so you kind of see the things.
And there's always things that definitely rhyme and are going to be the same and repeated mistakes.
There's also some things that are fundamentally different.
Obviously, the adoption of technology today is far different.
The distribution of it is.
And the top 1% of outcomes are going to be materially higher than the last super cycle.
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