20VC: 50% of Funds Will Go Out of Business | Why Growth Expectations Today are BS and Will Not Last | Why Oren Zeev Takes $0 Management Fees But 30% Carry | Why GPs Should Not Tell LPs Their Strategy
episode
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
1h 8m
2 speakers
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
I think this notion that only growth matters is a very dangerous one. And I've seen this movie many, many times. We humans are not truth seekers. We are self-validation machines. In every one of my funds, I'm the biggest LP. Every single one. By the way, I pay myself zero. So I tell LPs I only have one rule. And that rule is that I have no rules. AI is the biggest change ever in the history of humanity.
This is 20VC with me, Harry Stebbings, and today we have one of the most prominent solo capitalists in venture, Auron Zeve, who now manages over a billion dollars in AUM. My favorite thing about Auron, there's no show, there's no facade. He is so authentic. He has no rules when it comes to investing. He tells LPs exactly what he thinks. He has zero management fees. He takes 30% carry. He's just wonderfully authentic. And he's done incredible deals like Navan, Audible, Houzz, and is a brilliant player in this ecosystem. He's a dear friend, and this show was so much fun to do. But before we dive into the show today, as an investor, I'm always on the lookout for tools that really transform how I work, tools that don't just save time, but fundamentally change how I uncover insights.
That's exactly what AlphaSense does. With the acquisition of Tagus, AlphaSense is now the ultimate research platform built for professionals who need insights they can trust, fast. I've used Tegas before for company deep dives right here on the podcast. It's been an incredible resource for expert insights. But now with AlphaSense leading the way, it combines those insights with premium content, top broker research, and cutting-edge generative AI. The result? A platform that works like a supercharged junior analyst delivering trusted insights and analysis on demand. AlphaSense has completely reimagined fundamental research, helping you uncover opportunities from perspectives you didn't even know how they existed.
It's faster, it's smarter, and it's built to give you the edge in every decision you make. To any VC listeners, don't miss your chance to try AlphaSense for free. Visit alphasense.com forward slash 20 to unlock your trial. That's alphasense.com forward slash 20. While AlphaSense helps you find the signals that move markets, Airwallex helps you move money globally just as fast. Founders, let's get real about the growth tax. You've raised VC funding and you're scaling globally, and it's no longer about shipping product. It's about orchestrating operations across continents. But suddenly your payments and finance stack is choking your growth. You're logging into lots of different banking portals, waiting days for transfers and reporting across entities.
It's operational drag and it's at your scale. It's costing millions. That's why I'm so excited to partner with Airwallex. Airwallex are more than just a banking alternative to HSBC or Citi. Airwallex brings you an intelligent financial operating system that powers how global businesses operate and grow, allowing you to manage and automate banking, treasury, payments, and spend. The most exciting part for me, they're heavily investing in agentic finance. If you're scaling globally, you need a banking and finance platform that's borderless, real-time, and intelligent. Check out Airwallex today and see how they're helping thousands of businesses like Canva, McLaren, and Deal scale at airwallex.com forward slash 20VC.
Terms and conditions apply. Your monies are safeguarded, not FSCS protected. See airwallets.com for more details. While Airwallets makes global payments feel seamless, Vanta makes the security and compliance behind them seamless too. Security and compliance done wrong is a giant headache. Security and compliance done right though? Well, that's Vanta. Vanta helps you earn trust and speed up growth. No spreadsheets required. For startups low on time and resources, Vanta becomes your first security hire. Using AI and automation to get you compliant fast and unblock really big deals. And if you're big enterprises, Vanta is your AI-powered hub for compliance and risk, bringing together data from across your business and automating workflows so you can prove trust at any moment.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–21:23
2
Why do the best VC investments often look ‘wrong’ at the start?
21:23–27:12
3
How can investors spot which companies will be beneficiaries versus victims of the AI tsunami?
27:12–31:37
4
Why are many predictions about incumbents dying from AI likely wrong?
31:37–52:12
5
Why is chasing hyper-growth without healthy economics a ‘disaster waiting to happen’?
52:12–1:08:21
Speakers
2 identifiedMore from The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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20VC: Why AI Cannot Replace Humans in Enterprise | Why Work Processes Not Models Will Be The Most Valuable Asset in AI | Why Europe Has Lost and Building in the US vs EU with Daniel Dines, UiPath
20VC: "Anti-Data Centres is a Chinese Psyop" | How Many Planned Data Centers Will Actually Get Built? | Is Energy AI's Biggest Bottleneck? With Thomas Sohmers, Co-Founder @ Positron
20VC: Why "Pacing the Frontier" is BS | Instinct Raising $1BN at $10BN & Meta Launches Muse | Miro Sells for $1.35BN After a $17.5BN Valuation | Mistral Raises €3BN & Could Sam Bankman-Fried Win His Freedom?