20VC: Anthropic's Monster $6BN Revenue February | OpenAI Kills Sora and Hits $100M on Ads Business | Oura Going Public & Whoop Raises $500M at $10BN Valuation | Manus Founders Trapped in China Post Meta Acquisition

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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 1h 9m 3 speakers 8 chapters transcribed 5 months ago
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What was Anthropic's revenue achievement in February?

Jason Lemkin 0:00
We may be at the stage where we throw the humans under the bus, not the AI anymore, which I think at some level is pretty terrifying. I think shooting in the head is even more significant. A big part of the whole strategic direction of the company was flawed. You're seeing the economists, the accountants have wandered into the room and they said, we have a scarce resource here. Let's optimize it. Let's devote this compute to the people who can pay the most for it.

What is the significance of the 'Claude Mythos' leak?

Jason Lemkin 0:22
You haven't lived till you've seen an 85% decline in an index. This is one where it's just back ass bark words. And I don't believe there's right or wrong in money. There's just money.
Rory O'Driscoll 0:33
I just don't think raising it five or eight billion when you're at 80 million or 100 million of suspect ARR is the most exciting accomplishment in the world.

Why did OpenAI decide to kill the 'Sora' project?

Rory O'Driscoll 0:40
Let me be direct.
Jason Lemkin 0:40
Get the fuck over it. You should conform your company around your customers and your model, not your VCs.

How is OpenAI's advertising strategy evolving?

Jason Lemkin 0:46
Being mean to a billionaire is actually a feature.
Harry Stebbings 0:48
This is 20VC with me, Harry Stebbings, and it's my favorite show of the week. Rory O'Driscoll, Jason Lemkin, analyzing the biggest news in tech. So we start with Anthropix Monster Week. We move to OpenAI killing Sora and hitting 100 million ARR on ads. And then we finish on the man with the biggest balls in tech, Masa, getting $40 billion loan to buy more OpenAI stock for SoftBank.

What are the implications of Masa Son's $40 billion bridge loan?

Harry Stebbings 1:12
But before we dive into the show today, I run 20VC Fund and I get this question from founders all the time.

Why did cybersecurity stocks decline after the Anthropic leak?

Harry Stebbings 1:18
Harry, I can't find a good dot com. Do you have a hookup? Let me tell you now, the answer is always going to be no. I don't have a guy or gal for that. I do have a recommendation, though. If you're building a tech startup, get a dot tech domain.

What does the 'Golden Age of Cyber' mean for AI security?

Harry Stebbings 1:30
Tech startup, dot tech domain. It couldn't be more simple or obvious. As an investor, I appreciate founders who put thought into their branding. When I see .tech in your name, it tells me right away that tech is at the core of your build. It'll say that to your customers too. A clean and sharp domain like .tech pays off in the long run. Look at the companies using .tech. Nothing.tech, 1x.tech, Aurora.tech, CES.tech, Ultra.tech, Alice.tech, Neon.tech, Blaze.tech, Pi.tech, Great tech companies. They all use the .tech domain. These are my two cents. If you're building a tech startup, don't overthink it. Secure your .tech domain from any registrar of your choice. While .tech gives modern companies a home online, checkout helps that home convert by turning traffic into revenue.
Harry Stebbings 2:17
Over the past 15 years, Guillem Pozaz has led Checkout.com through what he calls the velocity years, a period of hypergrowth with relentless product building. The lesson? High growth is a gift, but it demands ruthless focus. As his mother put it, play the game you're good at. For Checkout.com, that game is digital payments, obsessing over data, chasing basis points, and compounding learnings over time. And that discipline is paying off. 2025, Checkout.com processed over $300 billion in total volume, up 64% year-over-year, and return to full-year EBITDA profitability. They now support over 1,000 enterprise merchants globally, including 63 that process more than a billion annually, with brands like eBay, Vinted, Amex, ASOS, and Timu.
Harry Stebbings 2:58
Guillaume's message, though, it's pretty clear. They've earned the right to win anywhere.

What challenges are faced by Manus founders after the Meta acquisition?

Harry Stebbings 3:02
Now they're investing in innovation across marketplaces, issuing financial experiences and agentic commerce. If you want payments built for what's next, talk to the team at Checkout.com. That's Checkout.com. While Checkout powers the moment money changes hands, Invisible powers the people behind the work. Why don't we hear more real AI success stories from big companies? The models are insanely good, but implementation is the problem. It's really, really hard. There's data all over the place. There's legacy tech and manual workarounds. It's a Ferrari engine in a shopping cart. Meet Invisible. Invisible trains 80% of the top models and then adapts them to the messy reality of your business. Take the Charlotte Hornets NBA team.

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