20VC: Leading Anthropic's First Ever Round | Will Open Source Threaten Anthropic's Business | Do Margins Matter in a World of AI | Why Triple, Triple, Double, Double is Not Good Enough Today | Why Series A is Hard Today with Matt Murphy @ Menlo
episode
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
1h 2m
2 speakers
4 chapters
transcribed 2 months 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 the foundation models, let's say specifically Anthropic, have such special models, performant, intelligent models. This can be hard for somebody to just kind of say, I've used open source with my data. It's going to be functional and positive for some amount of what you're doing, but I just don't think it can be powerful enough to really displace it.
This is 20VC with me, Harry Stebbings. Now joining me in the hot seat today, we have someone I've known for 10 years, Matt Murphy, partner at Menlo. He's the guy that led the deal into Anthropic. I mean, Jesus, if anyone's got brownie points inside a firm for leading a deal, it's the dude that led Anthropic. Come on, he can do anything for years and he's got a hall pass. But then he follows it up with, check this out, investing in Lovable and then investing in Lagura. I mean, this man is just hitting banger after banger. Matt is on a tear right now, almost more than any other venture investor. And so it was an incredible opportunity to sit down with Matt. He's a dear friend. And this is honestly two friends shooting the shit, if I'm allowed to say that, and having a great discussion.
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It's been like six or seven years since we did our last show, which worries me because I was like 23. I just look back now and I go, Harry, you knew nothing, my dear friend. And Matt was so wise and is so wise. But thank you for joining me once again. It's so good to see you, man.
It's great to be here. It's taken me seven years to earn my way back onto the show now that you've become so famous.
I mean, that's super kind of you, Juan, but how have you earned your way back? Like the last few years has just been ripper. And I wanted to start with a relatively obvious one, which is anthropic. I think it's at the cornerstone of Menlo and of the last few years for you investing.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–16:48
2
How did Menlo decide to break its investing rules to lead Anthropic's early rounds?
16:48–38:46
3
Why is ownership less important in an outlier-driven venture market today?
38:46–50:06
4
When and why does Menlo use SPVs to participate in large rounds like Anthropic's?
50:06–1:02:33
Speakers
2 identifiedMore from The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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