Latest Interviews
Showing 46–60 of 60 transcripts.
Clear all filtersJason Lemkin: Crowdstrike, WTF Happens From Here? Wiz Rejects Google’s $23BN Acquisition Offer|E1181
Wiz founders rejected a $23.5 billion Google acquisition offer to pursue a higher valuation IPO, citing antitrust risks and management distraction costs, while CrowdStrike suffered a $34 billion market cap loss following a global technical outage that halted operations. Venture capital dynamics face a liquidity drought as late-stage funds struggle to exit investments amid prolonged market delays, prompting experts like Jason Calacanis to advise accepting near-exit acquisition offers despite potential long-term upside from IPOs. Simultaneously, the legal tech sector is rapidly evolving with AI-native startups like Harvey AI achieving triple-digit growth, leading to predictions that core AI features will become commoditized by 2025.
- All-In Podcast1h 11m
500K Subscriber Livestream! | All-In Podcast
Chamath Palihapitiya, Nick, Dean Phillips, RFK Jr., Chris Christie, Jared Kushner, Kamala Harris, Nigel Farage, Jeffrey Sachs, John Mearsheimer, Biden, MBS, Xi Jinping, Dave Chappelle, Javier Millet, Taylor Swift, Viktor Frankl, Michael Lewis, Ayn Rand, Suzuki, Neil deGrasse Tyson, Sean Thackeray, Joshua, Chuma, Paul Myers, Chateau Petrus, Charles Boussan, Colgan, Sloan Bond, 100 Acres, Schrader, Salon, Paul Roger, Hank Lieber, Jacob, Bill, Dimov, Rupert, Freeberg, Stefano, Manesh Deva, Ted Zhang, Dominic McDermott, Frankie Menas, Alex Thomas, Barrick Somerville, Eric, Tommy Gufano, Aditya, Mark Hosler, Rahil, Mikhail, J Cal, Jay, David, Sax, Chimon, Freeport, Jason Lemkin, Glue, Ohalo, PC-12, Trump campaign, Humane Society of the United States, Hak Tua Fund, All In Summit, All In Podcast, YouTube, X, Instagram, TikTok, LinkedIn, Twitter, Sweet Greens, Whole Foods, Burger King, Louis Vuitton, Balthazar, NVIDIA, AWS, SpaceX, Stripe, GitLab, SF Zen Buddhism institute, Disney, Club 33, California Lodge, Hyundai, Chowdery, Rogan
Former President Trump hosted a lengthy, unedited interview with the All-In podcast team, explicitly endorsing the dialogue as a "big hit" while clarifying his opposition to a national abortion ban and refining his stance on high-skill immigration. During the 500,000-subscriber milestone live stream, co-hosts David Sacks, Chamath Palihapitiya, and others discussed strategic market shifts in venture capital, the transformative role of AI in education and work, and announced an upcoming tequila launch for the All-In Summit. The event also featured calls to redirect viewer donations to specific charities, the release of previously held-back summit tickets, and a philosophical discussion on legacy, ultimately aiming to normalize debates on foreign policy and domestic reforms.
Jason Lemkin: PluralSight S*** the Bed & The Next IPO Candidates | E1160
Following severe market cap losses for Salesforce and MongoDB, the SaaS sector is undergoing a structural shift characterized by valuation compression to 4-8x revenue multiples and a stagnation in M&A liquidity. As enterprise customers prioritize cost rationalization and substitute existing tools rather than expanding budgets, growth is bifurcating between vertical consumer-facing platforms like Canva and struggling "B2B2B" incumbents. With private equity write-downs rising and IPO exits nearly frozen, the industry is settling into a new normal where single-digit growth rates replace historical high-growth trajectories.
Jason Lemkin: Why Pricing is Worse Than Ever and There is More Funding Than Ever | E1157
Seed investor Jason argues that the current market is systemically broken due to a scarcity of capital-efficient growth targets, necessitating a shift toward companies capable of tripling revenue annually. He identifies Salesloft, Pipedrive, and Logical as top historical returns, emphasizing that strict due diligence on CTO competence and financial transparency is critical to avoiding dilution and fraud. Ultimately, the presentation advocates for liquidating positions when founders depart and prioritizing "binary" CEO-CTO pairs over professional management to survive aggressive competition and valuation dislocations.
Jason Lemkin: Predictions for 2024 - What Does a Trump Administration do for Startups? | E1099
Jason Lemkin, Trump, Harry Stebbings
Jason Lemkin's 2023 Venture Capital Market Review analyzes a conservative funding environment characterized by high unicorn failure rates, aggressive efficiency drives by public SaaS firms, and a strategic pivot toward decacorns. He forecasts a delayed IPO wave extending into 2025 while warning that enterprise AI adoption will initially remain limited by functional budget constraints and geopolitical shifts. Simultaneously, Lemkin outlines Sastra's transformation into a $100 million IRL marketplace to replace traditional media models with direct transaction facilitation between software buyers and sellers.
Roundtable #5 with Jack Altman, Auren Hoffman, Jason Lemkin, Harry Stebbings | E1077
Jack Altman, Auren Hoffman, Jason Lemkin, Harry Stebbings
This discussion analyzes the operational, strategic, and institutional evolution of founder-led investment funds, highlighting how operators leverage recent industry experience to provide superior "tough love" support and signaling value compared to traditional venture capital. The dialogue contrasts solo GP models with scaling team structures, addresses LP alignment on dual-hat roles, and examines capital migration trends alongside critical retention data showing 88% of SaaS IPOs remain founder-led. Participants also debate investment heuristics based on past performance and wager on the future trading performance of major public companies like Arm and Klaviyo to illustrate market sentiment.
Roundtable #4 with Jason Lemkin, Woody Marshall, Deven Parekh, Harry Stebbings | E1071
Jason Lemkin, Woody Marshall, Deven Parekh, Harry Stebbings
The current enterprise software market reflects a structural shift toward profitability and efficiency, characterized by a deal drought driven by valuation gaps and a slowdown in late-stage private funding. While recent activity includes the Cisco-Splunk acquisition and several scaled public offerings, the sector anticipates an IPO window reopening in late 2024 as investors prioritize free cash flow and normalized multiples over hyper-growth. Amidst cautious optimism regarding artificial intelligence adoption, firms like Insight and TCV are navigating capital needs with a focus on profitable growth assets and secondary liquidity rather than speculative valuations.
Is the VC Model Broken? Jason Lemkin, Mike Maples, Eric Paley & Harry Stebbings Debate | E1062
Jason Lemkin, Mike Maples, Eric Paley, Harry Stebbings
The panelists analyze a market characterized by rationalizing seed valuations and a pervasive disconnect between fund valuations and actual returns, warning that the current AI boom and high valuation culture pose significant risks of a bubble. Speakers emphasize that over-capitalization at early stages often leads to premature scaling and poor founder decisions, advocating instead for non-consensus investing and long-term holding horizons to generate sustainable alpha. Looking toward the near future, the discussion predicts persistent gaps between total value invested and distributions through 2025, driven by compressing public multiples and a shift from momentum-driven speculation to fundamental business performance.
Jason Lemkin & Rick Zullo: How "Mark to Market" Corrupted Venture Capital | E1052
Jason Lemkin, Rick Zullo, Harry Stebbings
This industry analysis outlines a structural pivot in venture capital from a founder-centric model to an asset management framework driven by mega-fund inflation and a demand for $10 billion unicorn outcomes. Participants highlight a critical correction in market valuations where founders must prioritize capital efficiency and profitability over growth-at-all-costs, while investors increasingly focus on AI consolidation and strategic fund splintering. The discussion concludes that historical liquidity cycles will likely revive mega-fund fundraising in late 2024 and 2025, provided firms address the current trust deficit with LPs by avoiding inflated paper markups and rigid thesis-driven investments.
DEBATE: State of Seed Investing w/ Jason Lemkin, Sam Lessin, Frank Rotman & Harry Stebbings | E1047
Jason Lemkin, Sam Lessin, Frank Rotman, Harry Stebbings
Venture capital has shifted from a predictable factory model to a high-variance strategy focused on bespoke investing in "weird" deals with limited competition. While seed valuations remain elevated, the industry is prioritizing capital efficiency and profitability over hyper-growth narratives, forcing mid-tier funds to consolidate or demonstrate non-generic returns to secure capital. A divergence remains regarding the timing of a potential 2024 IPO wave, yet consensus suggests the market will ultimately favor efficient companies with proven unit economics over those relying on unchecked growth.
Jason Lemkin: Every VC has a FRAUD in their portfolio; The IPO market is about to EXPLODE | E1046
In a comprehensive market analysis, venture capitalist Jason Lemkin forecasts a resurgence of SaaS IPOs in late 2024 while warning against the return of the 2021 frenzy and highlighting a critical split in seed-stage funding driven by insider liquidity. Lemkin advises new fund managers to prioritize rapid "winner" creation over conservative capital preservation and urges investors to target unproven founders priced out of mega-fund reach rather than chasing overvalued institutional leads. Despite his skepticism regarding diluted work ethics and the mathematical unsustainability of megafunds, he predicts that efficient, mid-growth SaaS companies will attract significant capital through secondary transactions and a renewed public market appetite.
The Current State of Venture Capital | Jason Lemkin w/ Harry Stebbings
A prominent venture capital investor reports a strategic halt in new deployments for the past year while significantly raising investment standards to address a post-bubble market characterized by reduced capital availability and stricter efficiency requirements. Targets for SaaS IPOs have shifted toward $200 million in revenue, necessitating a "trifecta" of top-tier growth, capital efficiency, and profitability that is increasingly rare even at early revenue stages. Consequently, founders are now required to demonstrate precise competitive differentiation and segment dominance rather than relying on broad category growth or the inflated valuations of the previous boom.
Jason Lemkin: WTF is Going On in VC? Are LPs Investing in New Funds? | 20VC #965
Venture capital now enforces a strict trifecta of top-tier growth, extreme capital efficiency, and a clear path to $200M ARR, effectively ending the era where high-growth, loss-making startups secured billion-dollar exits. Investors are shifting focus to seasoned founders and profitable companies trading at 5x to 15x ARR multiples, while penalizing rapid deployment strategies that ignore the reality that most new startups will remain unfundable despite public market recoveries. Consequently, early-stage entry points have moved from pre-revenue to post-$20k ARR to verify execution, creating a volatile environment where emotional resilience and worst-case scenario modeling are now prerequisites for survival.
Only 15% of Founders Listen to their VCs | Jason Lemkin
Jason and Harry argue that venture capitalists must shift from sugarcoating feedback to delivering direct, "ass-kicking" advice every two years to ensure founder accountability and prevent corporate failure. While Jason's blunt warnings about unsustainable burn rates often alienate 60% of elite founders and damage relationships, he contends that this harsh honesty is essential for identifying resilience and saving portfolio companies from inevitable collapse. This debate highlights a structural inefficiency in current VC models, where infrequent board meetings prevent the real-time course corrections necessary to address market realities before it is too late.
Jason Lemkin: Cold Email Tips; Why Only 15% of Founders Listen to their VCs | 20VC #954
Jason Lemkin outlines an exclusive inbound investment strategy for his SaaStr fund, which now targets minimum 10% ownership stakes while emphasizing founder communication quality as the primary deal filter. He details the strategic evolution of his Algolia investment, noting how an initial focus on valuation sensitivity limited his equity position despite the startup's hyper-growth validation against open-source competitors. Beyond specific deals, Lemkin critiques current VC practices, warning of "zombie" companies fueled by excessive pre-product-market fit capital and predicting significant fund churn as limited partners demand outperformance.