Podcasts about a16z

In this feed drop from Uncapped, Jack Altman sits down with a16z co-founder Ben Horowitz to unpack the founding bet behind Andreessen Horowitz. VC should be a better product for entrepreneurs, built on real operating experience, real networks, and real support.Ben shares how he and Marc Andreessen have worked together for 30 years, how they make decisions, and what it takes to scale a venture firm without losing the edge that actually helps founders. They also dig into why boards matter, how platform teams can change what partners do day-to-day, and the difference between “heat-seeking” investing and conviction-driven company building, especially in sectors like AI and crypto.Timecodes:00:00 Introduction 01:05 Ben Horowitz & Marc Andreessen's Partnership  04:05 Building & Leading a16z  07:16 Managing High-Powered VCs  11:01 Boards, Governance & Founder Support  15:36 Platform Services & Recruiting  17:43 Scale vs. Concentration in Venture  20:57 Why Venture Can Scale  24:27 Platform Services: What Works and What Doesn't  27:50 The Real Value of Board Membership  35:38 Media, Brand & Marketing Evolution  41:32 The Future of Media & Journalism  45:30 Limits on Venture Firm Size  49:13 Winning vs. Picking Deals  53:16 The Case Against Venture Scale  55:49 Hiring Operators & Rethinking the VC ProductResources:Follow Ben on X: https://twitter.com/bhorowitzFollow Jack on X: https://twitter.com/jaltmaWatch more from Uncapped: https://www.altcap.com/ Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cash flow is oxygen, and too many teams are holding their breath waiting on portals, proofs, and “who handles this?” handoffs. We sit down with Tarek, a former TQL broker turned founder, to unpack the culture of persistence he learned on the brokerage floor and how that same grit now powers an AI platform that doesn't just assist accounts receivable—it does the work.We start with the reality of freight sales: real-time chaos, creative problem solving, and an all-out push to win accounts. Then we widen the lens to founder-led growth, the kind of leadership that gets teams to feel the mission and deliver through tough cycles. From there, we go deep on AR. Why does a missing lumper fee stall a giant remittance? How do portals, short-pays, and missing documents consume weeks? Tarek breaks down a task-based system that sits on your ERP, automates the repeatable steps, and routes exceptions to the right humans in sales and CS. Think instant W‑9s, dispute drafts with proof attached, and AI-powered calls that surface the exact invoice history mid-conversation.This isn't AI as a buzzword. It's time-to-value measured in days, not months, with reductions in overdue invoices and DSO you can feel in your working capital. We talk hiring A-level engineers who talk to customers and ship fast, the difference between commodity selling and value selling, and how a platform partner like A16Z adds real leverage in talent, BD, and brand. We also draw a firm line on ethics: automation belongs in B2B workflows where it creates clarity and speed, not in consumer collections that cross the line.If you want practical tactics to close your cash gap, align finance with sales, and keep customers happy while the money moves, this conversation is for you. Subscribe, share with a teammate who's drowning in AR follow-ups, and leave a review with the next bottleneck you want us to break down.Follow The Freight Pod and host Andrew Silver on LinkedIn.Thanks to our sponsors:Stuut Technologies: Your AI coworker that collects your cash automatically.https://www.stuut.ai/Cloneops.ai: Not just AI. Industry-born AI.https://www.cloneops.ai/Rapido Solutions Group: Nearshore solutions for logistics companies.https://www.gorapido.com/GenLogs: Freight Intelligence on every carrier, shipper, and asset via a nationwide sensor networkhttps://www.genlogs.io/

[Original air date: June 19, 2025]In this episode, Alex Immerman, partner at Andreessen Horowitz, joins CJ to discuss the CFO role and how it's changing in the era of AI. He explains what the components of a company's AI agenda the CFO should own, how and where it should be leveraged in an organization, and why, if you're preparing to go public, AI needs to be mentioned in your S-1. He breaks down how the financial landscape differs greatly between AI-native SaaS companies and traditional B2B SaaS companies in terms of retention curves and gross margins, and how this relates to the ever-important LTV to CAC metric. As someone who has worked with prominent CFOs and interviewed many for a16z's portfolio companies, Alex also describes the qualities of a great CFO, and shares his favorite interview question, before discussing CFOs, CEO, and board dynamics.—LINKS:Alex Immerman on LinkedIn: https://www.linkedin.com/in/immermanAndreessen Horowitz: https://a16z.comCJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:a16z's Alex Immerman on the Evolving Role of the CFO in the Age of AIhttps://youtu.be/JIvHp-mlnzsSo You're Looking for a “Strategic” CFO? Bloomerang's Steve Isom on What That Really Meanshttps://www.youtube.com/watch?v=cgHOtvG1Ces—TIMESTAMPS:00:00:00 Preview and Intro00:01:46 AI Margins Improve Dramatically00:02:29 What Separates Great CFOs00:03:29 Founder Mindset Drives Performance00:05:31 Founder Intensity and Margin Expansion00:06:57 Backing Unproven Bets Thoughtfully00:08:29 Interviewing CFOs for Backbone00:09:55 When CFOs Push Back on Strategy00:11:25 CFO Trust With Boards and Investors00:11:50 How CFOs Engage Investors When Hiring00:14:44 Building Strong CFO Investor Relationships00:16:18 Sharing Bad News Early00:17:21 CEO Vision Versus CFO Validation00:20:57 How AI Is Changing the CFO Role00:23:56 Incumbents Versus AI-Native Finance Tools00:26:24 CFOs Driving Internal AI Adoption00:28:07 AI Impact on Customer Support Efficiency00:29:26 Internal Leverage From AI Automation00:31:29 Why Investors Care About LTV to CAC00:34:00 LTV to CAC Across Business Models00:36:26 Retention Curves Matter More Than Growth00:38:16 Evaluating AI Gross Margins Long Term00:40:04 Recipe for AI Margin Expansion00:43:01 What Makes a Public-Ready CFO00:44:47 Beating Guidance Drives IPO Performance00:46:56 Growth Versus Profitability Has Rebalanced#RunTheNumbersPodcast #CFOLeadership #FintechInvesting #AISaaS #VentureCapital This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

This episode is a special replay from The Generalist Podcast, featuring a conversation with a16z General Partner Martin Casado. Martin has lived through multiple tech waves as a founder, researcher, and investor, and in this discussion he shares how he thinks about the AI boom, why he believes we're still early in the cycle, and how a market-first lens shapes his approach to investing.They also dig into the mechanics behind the scenes: why AI coding could become a multi-trillion-dollar market, how a16z evolved from a small generalist firm into a specialized organization, the growing role of open-source models, and why Martin believes AGI debates often obscure more meaningful questions about how technology actually creates value. Resources:Follow Mario GabrieleX: https://x.com/mariogabrielehttps://www.generalist.com/Follow Martin Casado:LinkedIn: https://www.linkedin.com/in/martincasado/X: https://x.com/martin_casadoThe Generalist Substack: https://www.generalist.com/The Generalist on YouTube: https://www.youtube.com/@TheGeneralistPodcastSpotify: https://open.spotify.com/show/6mHuHe0Tj6XVxpgaw4WsJVApple: https://podcasts.apple.com/us/podcast/the-generalist/id1805868710 Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This episode is a special replay from The Generalist Podcast, featuring a conversation with a16z General Partner Martin Casado. Martin has lived through multiple tech waves as a founder, researcher, and investor, and in this discussion he shares how he thinks about the AI boom, why he believes we're still early in the cycle, and how a market-first lens shapes his approach to investing.They also dig into the mechanics behind the scenes: why AI coding could become a multi-trillion-dollar market, how a16z evolved from a small generalist firm into a specialized organization, the growing role of open-source models, and why Martin believes AGI debates often obscure more meaningful questions about how technology actually creates value. Follow Mario GabrieleX: https://x.com/mariogabrielehttps://www.generalist.com/ Follow Martin Casado:LinkedIn: https://www.linkedin.com/in/martincasado/X: https://x.com/martin_casado The Generalist Substack: https://www.generalist.com/The Generalist on YouTube: https://www.youtube.com/@TheGeneralistPodcastSpotify: https://open.spotify.com/show/6mHuHe0Tj6XVxpgaw4WsJVApple: https://podcasts.apple.com/us/podcast/the-generalist/id1805868710 Check out everything a16z is doing with artificial intelligence here, including articles, projects, and more podcasts. Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Emmett Shear and Séb Krier debate whether today's AI alignment paradigm—focused on control and instruction-following—is fundamentally flawed. PSA for AI builders: Interested in alignment, governance, or AI safety? Learn more about the MATS Summer 2026 Fellowship and submit your name to be notified when applications open: https://matsprogram.org/s26-tcr. They explore what changes if advanced AIs are better understood as beings with their own values, and why current control methods could drift toward something like slavery. The conversation dives into “organic alignment,” multi-agent simulations, evolving cooperation, and the possibility of AI moral standing as systems gain memory and continual learning. Sponsors: MATS: MATS is a fully funded 12-week research program pairing rising talent with top mentors in AI alignment, interpretability, security, and governance. Apply for the next cohort at https://matsprogram.org/s26-tcr Tasklet: Tasklet is an AI agent that automates your work 24/7; just describe what you want in plain English and it gets the job done. Try it for free and use code COGREV for 50% off your first month at https://tasklet.ai Agents of Scale: Agents of Scale is a podcast from Zapier CEO Wade Foster, featuring conversations with C-suite leaders who are leading AI transformation. Subscribe to the show wherever you get your podcasts Shopify: Shopify powers millions of businesses worldwide, handling 10% of U.S. e-commerce. With hundreds of templates, AI tools for product descriptions, and seamless marketing campaign creation, it's like having a design studio and marketing team in one. Start your $1/month trial today at https://shopify.com/cognitive CHAPTERS: (00:00) About the Episode (03:44) Defining organic AI alignment (14:48) Technical vs value alignment (Part 1) (19:55) Sponsors: MATS | Tasklet (22:56) Technical vs value alignment (Part 2) (Part 1) (31:34) Sponsors: Agents of Scale | Shopify (34:21) Technical vs value alignment (Part 2) (Part 2) (34:22) Labs, tools, and beings (43:22) AI personhood and consciousness (56:53) Safe futures and Softmax (01:04:17) Chatbots, mirrors, simulations (01:10:14) Doom, futures, and OpenAI (01:17:25) Outro PRODUCED BY: https://aipodcast.ing SOCIAL LINKS: Website: https://www.cognitiverevolution.ai Twitter (Podcast): https://x.com/cogrev_podcast Twitter (Nathan): https://x.com/labenz LinkedIn: https://linkedin.com/in/nathanlabenz/ Youtube: https://youtube.com/@CognitiveRevolutionPodcast Apple: https://podcasts.apple.com/de/podcast/the-cognitive-revolution-ai-builders-researchers-and/id1669813431 Spotify: https://open.spotify.com/show/6yHyok3M3BjqzR0VB5MSyk

This is a recap of the top 10 posts on Hacker News on December 17, 2025. This podcast was generated by wondercraft.ai (00:30): Gemini 3 Flash: Frontier intelligence built for speedOriginal post: https://news.ycombinator.com/item?id=46301851&utm_source=wondercraft_ai(01:51): Is Mozilla trying hard to kill itself?Original post: https://news.ycombinator.com/item?id=46299934&utm_source=wondercraft_ai(03:13): AWS CEO says replacing junior devs with AI is 'one of the dumbest ideas'Original post: https://news.ycombinator.com/item?id=46302267&utm_source=wondercraft_ai(04:35): Tell HN: HN was downOriginal post: https://news.ycombinator.com/item?id=46301921&utm_source=wondercraft_ai(05:57): Coursera to combine with UdemyOriginal post: https://news.ycombinator.com/item?id=46301346&utm_source=wondercraft_ai(07:19): A Safer Container Ecosystem with Docker: Free Docker Hardened ImagesOriginal post: https://news.ycombinator.com/item?id=46302337&utm_source=wondercraft_ai(08:41): I got hacked: My Hetzner server started mining MoneroOriginal post: https://news.ycombinator.com/item?id=46305585&utm_source=wondercraft_ai(10:03): How SQLite is testedOriginal post: https://news.ycombinator.com/item?id=46303277&utm_source=wondercraft_ai(11:25): Gut bacteria from amphibians and reptiles achieve tumor elimination in miceOriginal post: https://news.ycombinator.com/item?id=46306894&utm_source=wondercraft_ai(12:47): A16z-backed Doublespeed hacked, revealing what its AI-generated accounts promoteOriginal post: https://news.ycombinator.com/item?id=46303291&utm_source=wondercraft_aiThis is a third-party project, independent from HN and YC. Text and audio generated using AI, by wondercraft.ai. Create your own studio quality podcast with text as the only input in seconds at app.wondercraft.ai. Issues or feedback? We'd love to hear from you: team@wondercraft.ai

Mirelo, a German startup that is building AI to add synced sound effects to videos, has raised a $41 million seed round led by Index Ventures and Andreessen Horowitz. Also, First Voyage has raised $2.5 million in a seed funding round from a16z speedrun, SignalFire, True Global, and other investors. Learn more about your ad choices. Visit podcastchoices.com/adchoices

David George is a General Partner at Andreessen Horowitz, where he leads the firm's Growth investing team. His team has backed many of the defining companies of this era, including Databricks, Figma, Stripe, SpaceX, Anduril, and OpenAI, and is now investing behind a new generation of AI startups like Cursor, Harvey, and Abridge. AGENDA: 03:05 – Why Everyone is Wrong: Mega Funds Does Not Reduce Returns 10:40 – Is Public Market Capital Actually Cheaper Than Private Capital? 18:55 – The Biggest Advantage of Staying Private for Longer 23:30 – The #1 Investing Rule for a16z: Always Invest in the Founder's Strength of Strengths 31:20 – Why Fear of Theoretical Competition Makes Investors Miss Great Companies 35:10 – Does Revenue Matter as Much in a World of AI? 44:10 – Does Kingmaking Still Exist in Venture Capital Today? 49:20 – Do Margins Matter Less Than Ever in an AI-First World? 53:50 – My Biggest Miss: Anthropic and What I Learn From it?  56:30 – Has OpenAI Won Consumer AI? Will Anthropic Win Enterprise? 59:45 – The Most Controversial Decision in Andreessen Horowitz History 1:01:30 – Why Did You Invest $300M into Adam Neumann and Flow?    

¿Cómo será el mercado cripto en 2026? En este episodio analizamos algunas predicciones que se podrían darInscríbete a Inversionista del Futuro: https://www.espaciocripto.io/inversionista?utm_source=social&utm_medium=yt&utm_content=bioComunidad de Espacio Cripto: https://t.me/espaciocripto0:00 - Intro0:56 - Análisis del mercado4:20 - Nexo adquiere Buen Bit. ¿Qué significa para Latinoamérica?7:59 - El reporte de A16z y las 17 cosas que los emocionan para 2026.23:20 - YouTube permite pagos a creadores con PYUSD26:09 - Michael Saylor acumula más BTC.28:23 - Rumores del IPO de SpaceX y su valuación astronómica.30:46 - Outro

This episode is a special replay of David George's conversation with Harry Stebbings on 20VC. David is a General Partner on a16z's growth team, and in this discussion he breaks down how he thinks about breakout growth investing: why great business models are now table stakes, where real edge comes from non-consensus views on TAM, and how to underwrite upside in a world of higher prices and increasing competition.They also dig into the mechanics behind the scenes: unit economics at growth, “pull vs push” products, winner-take-most market structures, and how David decides when to double or triple down on a company. Along the way, they touch on SPACs, the rise of crossover funds, single-trigger decision making, and how David manages fear, pressure, and performance over the long arc of an investing career. Resources:Learn more about 20VC: https://www.thetwentyminutevc.com/Watch on YouTube: https://www.youtube.com/@20VCFollow Harry on X: https://x.com/HarryStebbingsFollow David on X: https://x.com/DavidGeorge83 Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures](http://a16z.com/disclosures.  Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This episode starts with Farcaster's pivot and Tarun's claim that “Web3 is dead,” at least the A16z-style ownership economy. With Web3 social struggling, the crew digs into why spam, airdrops, and weak network effects keep sinking these apps — and why prediction markets may be crypto's accidental social network. We then jump to the L1 valuation fight. Haseeb recaps his debate with Santiago over whether chains are wildly overpriced or simply early, sparking a broader discussion on PE ratios, L1 “premiums,” and how many chains the world can realistically sustain. Next up: Ken Chan's viral “I wasted 8 years in crypto.” The team unpacks burnout, sugar-water loops, and why nihilism tends to hit founders right as the market turns. And finally, Tarun walks through his ADL research and how October 10's cascading liquidations exposed major flaws in current systems. Markets evolving, narratives collapsing — let's get into it. Show highlights

Tavus has launched a new experience where you can chat with an AI Santa that asks personal questions and remembers your interests. Oboe has raised $16 million in funding for its learning app. The company now lets users generate unlimited courses for free. Learn more about your ad choices. Visit podcastchoices.com/adchoices

幻冬舎の暗号資産（仮想通貨）/ブロックチェーンなどWeb3領域の専門メディア「あたらしい経済 https://www.neweconomy.jp/ 」がおくる、Podcast番組です。 ーーーーー 【番組スポンサー】 この番組は、暗号資産取引におけるフルラインナップサービスを提供する「SBI VCトレード」のスポンサーでお届けします。 ーーーーー SBI VCトレードは、「暗号資産もSBI」のスローガンのもと、国内最大級のインターネット総合金融グループであるSBIグループの総合力を生かし、暗号資産取引におけるフルラインナップサービスを提供しております。暗号資産交換業者・第一種金融商品取引業者・電子決済手段等取引業者として高いセキュリティ体制のもと、暗号資産の売買にとどまらない暗号資産運用サービスや法人向けサービスの展開、さらにステーブルコインのユーエスディーシー（USDC）を国内で初めて取り扱っております。 ーーーーー SBI VCトレード公式サイト：https://account.sbivc.co.jp/signup?hc_ak=1RNML.3.M06AS ーーーーー 【紹介したニュース】 ・ホットリンクG傘下のNonagon Capital、「INTMAX」のブロック・ビルダー運用開始 ・セイがシャオミと大規模モバイル施策開始、新スマホに暗号資産アプリを標準搭載へ ・a16z Cryptoがソウルオフィス開設、APACのGTM責任者に元モナド財団のパク・ソンモ加入 ・金融庁、暗号資産を金商法の移行でインサイダー規制・情報開示義務を導入へ ・ストラテジー、指数プロバイダーMSCIのデジタル資産企業排除案に異議 ・米SEC、トークン分類とトークン化証券を軸に制度整備を加速。ICOの多くは「非証券」との認識示す ・NTTデジタル、「ENIブロックチェーン」の社会実装に向け財団と協業へ ・サークル、アブダビで「金融サービス許可」ライセンス取得、マネーサービスプロバイダー事業運営へ ・プルーム、アブダビで「商業ライセンス取得」 ・インベスコ、「ソラナ（SOL）」現物ETFをSECに8A申請 ・ストラテジーのマイケル・セイラー、ビットコイン担保の新デジタル銀行モデル提案 ・コイントレード、定期入金サービス開始 ・Surfがパンテラ・コインベース・DCGから1,500万ドル調達、デジタル資産向け特化初のAIモデル拡大へ ーーーーー 【あたらしい経済関連リンク】 ニュースの詳細や、アーカイブやその他の記事はこちらから https://www.neweconomy.jp/

Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This episode starts with Farcaster's pivot and Tarun's claim that “Web3 is dead,” at least the A16z-style ownership economy. With Web3 social struggling, the crew digs into why spam, airdrops, and weak network effects keep sinking these apps — and why prediction markets may be crypto's accidental social network. We then jump to the L1 valuation fight. Haseeb recaps his debate with Santiago over whether chains are wildly overpriced or simply early, sparking a broader discussion on PE ratios, L1 “premiums,” and how many chains the world can realistically sustain. Next up: Ken Chan's viral “I wasted 8 years in crypto.” The team unpacks burnout, sugar-water loops, and why nihilism tends to hit founders right as the market turns. And finally, Tarun walks through his ADL research and how October 10's cascading liquidations exposed major flaws in current systems. Markets evolving, narratives collapsing — let's get into it. Show highlights

Recently, a16z General Partner Anish Acharya joined Ollie Forsyth on NEW ECONOMIES. They talked about why consumer tech is surging again, how AI is enabling 100M-user products at unprecedented speed, and what founders need to understand heading into 2026 — from distribution shifts to founder mindset to the mechanics behind the fastest product cycle in tech history. Resources:Follow Ollie: https://x.com/ollieforsythFollow Anish: https://x.com/illscience Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see http://a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

My guest today is David George. David is a General Partner at Andreessen Horowitz, where he leads the firm's growth investing business. His team has backed many of the defining companies of this era – including Databricks, Figma, Stripe, SpaceX, Anduril, and OpenAI – and is now investing behind a new generation of AI startups like Cursor, Harvey, and Abridge. This conversation is a detailed look at how David built and runs the a16z growth practice. He shares how he recruits and builds his team a “Yankees-level” culture, how his team makes investment decisions without traditional committees, and how they work with founders years before investing to win the most competitive deals. Much of our conversation centers on AI and how his team is investing across the stack, from foundational models to applications. David draws parallels to past platform shifts – from SaaS to mobile – and explains why he believes this period will produce some of the largest companies ever built. David also outlines the models that guide his approach – why markets often misprice consistent growth, what makes “pull” businesses so powerful, and why most great tech markets end up winner-take-all. David reflects on what he's learned from studying exceptional founders and why he's drawn to a particular type, the “technical terminator.” Please enjoy my conversation with David George. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠ ----- This episode is brought to you by⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Ramp⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- This episode is brought to you by⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Ridgeline⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgelineapps.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to learn more about the platform. ----- This episode is brought to you by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠AlphaSense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Alpha-Sense.com/Invest⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like The Best (00:04:00) Meet David George (00:03:04) Understanding the Impact of AI on Consumers and Enterprises (00:05:56) Monetizing AI: What is AI's Business Model (00:11:04) Investing in Robotics and American Dynamism (00:13:31) Lessons from Investing in Waymo (00:15:55) Investment Philosophy and Strategy (00:17:15) Investing in Technical Terminators (00:20:18) Market Leaders Capture All of the Value Creation (00:24:56) The Maturation of VC and Competitive Landscape (00:28:18) What a16z Does to Win Deals (00:33:06) David's Daily Routine: Meetings Structure and Blocking Time to Think (00:36:34) Why David Invests: Curiosity and Competition (00:40:12) The Unique Culture at Andreessen Horowitz (00:42:46) The Perfect Conditions for Growth Investing (00:47:04) Push v. Pull Businesses (00:49:19) The Three Metrics a16z Uses to Evaluate AI Companies (00:52:15) Unique Products and Unique Distribution (00:54:55) Tradeoffs of the a16z Firm Structure (00:59:04) a16z's Semi-Algorithmic Approach to Selling (01:00:54) Three Ways Startups can Beat Incumbents in AI (01:03:44) The Kindest Thing

A16Z co-founder Ben Horowitz joins Shaan Puri and Sam Parr on My First Million to talk about how to be a great leader. Resources:Follow Ben on X: https://x.com/bhorowitzFollow Shaan on X: https://x.com/ShaanVPFollow Sam on X: https://x.com/thesamparr Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see http://a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Marc Andreessen and Ben Horowitz sit down with Margit Wennmachers—the woman who turned two unknown entrepreneurs with $300 million and zero investing track record into the most talked-about firm in venture capital. She unpacks how they weaponized transparency in an industry built on secrecy, why Fortune's cover story triggered a cartel meltdown, and the exact moment a casual lunch conversation became "Software Is Eating the World." This is the origin story of how A16Z broke every unwritten rule, made enemies of every top-tier firm, and permanently rewired what it means to build companies in public. Resources:Follow Marc on X: https://x.com/pmarcaFollow Ben on X: https://x.com/bhorowitzFollow Margit on X: https://x.com/wennmachersFollow Erik on X: https://x.com/eriktorenberg Stay Updated: If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Max Altman is Co‑Founder & Managing Partner at Saga Ventures, a US$125 M early‑stage fund.  Before Saga Max was an investor with Apollo Projects, Hydrazine Capital and Altman Capital (where he helped deploy over US$500 M) into breakout names such as Rippling and Reddit. AGENDA: 03:55 – Venture Capital Is FULL of Tourists With Single-Digit IQs 06:20 – Inside the Madness of Parker Conrad: Genius, Chaos, and WTF Emails 10:35 – The Rippling Deal That Changed Everything 12:40 – Living in Sam Altman's Shadow: The Confession 17:30 – $200M Fund Mistakes: Max's Brutal Lessons From Hydrazine 22:05 – The $2B Reddit Return… and the $2B Left on the Table 25:00 – Why Climate Tech Is a Total VC Mirage 28:40 – The New Seed War: Can Anyone Survive Sequoia & Andreessen? 46:55 – Max's Boldest Predictions  

In this episode of Run the Numbers, CJ Gustafson sits down with Vanna Krantz, former CFO of Disney+ and Grindr, to explore what it takes to lead finance through massive inflection points. Vanna reflects on building Disney+'s subscription model from scratch under Bob Iger's leadership and the pressure of launching a global product with no precedent. She discusses forecasting as both science and art, and the importance of appreciating high-stakes moments amid chaos. Shifting to Grindr, Vanna breaks down how the company went public with remarkable efficiency—boasting 40% EBITDA margins and under 200 employees—and how she modeled for a user base that consistently churns and returns. She also opens up about career longevity, work-life balance, and helping women find sustainability and acceleration in leadership.—LINKS:Vanna on LinkedIn: https://www.linkedin.com/in/vannakrantz/CJ on LinkedIn: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Monetizing Community Engagement: The Business of Fitness with Strava CFO Lily Yanghttps://youtu.be/zlLb5yZDKQE“Let's Just See What Breaks” — Intuit's CFO on Being a Disruptor When You're Already the Incumbenthttps://youtu.be/Le1D9HXHvGI—TIMESTAMPS:00:00:00 Preview and Intro00:03:02 Sponsors – Aleph, Fidelity Private Shares, and Metronome00:06:09 Meeting at A16z and Disney Plus Discussion00:07:13 Interviewing with Bob Iger and Joining Bamtech Media00:10:43 Forecasting the Unknown at Disney Plus00:13:01 Launch Strategy – Mandalorian and Retention00:15:15 Sponsors – Mercury, RightRev, and Tipalti00:19:23 Forecasting, Retention Curves, and the Art vs. Science Balance00:22:20 Lessons in Art and Science of Finance at Disney00:25:08 Launch Day Chaos and the Disney Plus CDN Outage00:26:24 Celebrating the 10 Million Subscriber Milestone00:27:21 Grindr IPO and Financial Discovery00:32:42 Active User Metrics and Reactivation Trends00:34:29 Seasonality and Human Behavior in App Usage00:36:02 Free vs. Paid Users and Revenue Optimization00:38:21 Pricing Strategy and Global Monetization00:40:23 Women in Leadership and Staying in the Game00:43:30 Work–Life Balance and Career Seasons00:46:12 Wisdom, Experience, and Staying in the Game00:50:08 Finance Stack, Craziest Expense, and Closing Remarks—SPONSORS:Aleph automates 90% of manual, error-prone busywork, so you can focus on the strategic work you were hired to do. Minimize busywork and maximize impact with the power of a web app, the flexibility of spreadsheets, and the magic of AI. Get a personalised demo at https://www.getaleph.com/runFidelity Private Shares is the all-in-one equity management platform that keeps your cap table clean, your data room organized, and your equity story clear—so you never risk losing a fundraising round over messy records. Schedule a demo at https://www.fidelityprivateshares.com and mention Mostly Metrics to get 20% off.Metronome is real-time billing built for modern software companies. Metronome turns raw usage events into accurate invoices, gives customers bills they actually understand, and keeps finance, product, and engineering perfectly in sync. That's why category-defining companies like OpenAI and Anthropic trust Metronome to power usage-based pricing and enterprise contracts at scale. Focus on your product — not your billing. Learn more and get started at https://www.metronome.comMercury is business banking built for builders, giving founders and finance pros a financial stack that actually works together. From sending wires to tracking balances and approving payments, Mercury makes it simple to scale without friction. Join the 200,000+ entrepreneurs who trust Mercury and apply online in minutes at https://www.mercury.comRightRev automates the revenue recognition process from end to end, gives you real-time insights, and ensures ASC 606 / IFRS 15 compliance—all while closing books faster. For RevRec that auditors actually trust, visit https://www.rightrev.com and schedule a demo.Tipalti automates the entire payables process—from onboarding suppliers to executing global payouts—helping finance teams save time, eliminate costly errors, and scale confidently across 200+ countries and 120 currencies. More than 5,000 businesses already trust Tipalti to manage payments with built-in security and tax compliance. Visit https://www.tipalti.com/runthenumbers to learn more.—#RunTheNumbersPodcast #CFOInsights #DisneyPlus #GrindrIPO #Leadership This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

The regulatory environment has completely inverted. Stablecoins are now a top 20 holder of US treasuries. Every major bank wants in. In a16z Crypto's 2025 State of Crypto report, Daren Matsuoka (Head of Data) and Eddy Lazzarin (CTO) reveal how crypto hit $4 trillion market cap while fundamentally reshaping how institutions think about payments, with surprising data on why developers aren't following prices this cycle and what privacy's inevitable rise means for mainstream adoption. Resources: Follow Eddy on X: https://x.com/eddylazzarinFollow Daren on X: https://x.com/DarenMatsuokaFollow Robert on X: https://x.com/rhackett Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.  Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Andreessen Horowitz is pausing its Talent x Opportunity (TxO) fund and program, according to multiple sources. Several people who spoke to TechCrunch pointed out that its hiatus comes as top names in tech eliminate, cut, reframe, or completely walk back on prior public commitments related to diversity, equity, and inclusion. The Trump administration has threatened legal and political ramifications for businesses supporting anything that could be seen as DEI.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Durfinvesteerder Andreessen Horowitz heeft zijn jaarlijkse State of Crypto-rapport gepubliceerd. Volgens A16Z is de cryptomarkt in 2025 echt volwassen geworden. Dat blijkt niet alleen uit de prijzen, maar vooral uit de onderliggende infrastructuur en het gebruik ervan. In het rapport valt op dat stablecoins inmiddels een serieuze rol spelen in het mondiale betalingsverkeer. De waarde van transacties met stablecoins is voor het eerst groter dan die van traditionele betaalnetwerken als PayPal. Daarmee laat de sector zien dat het niet langer alleen gaat om speculatie, maar ook om daadwerkelijk gebruik. A16Z benadrukt daarnaast dat institutionele beleggers de markt steeds meer omarmen. Grote vermogensbeheerders gebruiken publieke blockchains om fondsen te tokeniseren of als onderdeel van handelsprocessen. Dat maakt de scheidslijn tussen de traditionele financiële wereld en de cryptosector steeds dunner. Ook het gebruik van publieke blockchaininfrastructuur groeit hard. Duizenden bedrijven bouwen nieuwe toepassingen op netwerken als Ethereum, Base en Solana, waarbij de nadruk ligt op schaalbaarheid en efficiëntie. Toch is Andreessen Horowitz geen neutrale partij. De investeerder heeft miljarden geïnvesteerd in tientallen cryptobedrijven en protocollen. Van infrastructuurprojecten tot handelsplatformen: A16Z heeft er belang bij dat de sector floreert. Dat neemt niet weg dat het rapport een goed beeld geeft van de verschuiving in de markt: van hype naar volwassen gebruik. Opmerkelijk is ook dat het rapport uitgebreid stil staat bij Bitcoin. De munt wordt genoemd als ‘digitale reserve’, een ankerpunt binnen een steeds breder ecosysteem van digitale activa. In de prijsanalyse kijkt Bert Slagter naar het koersverloop van de afgelopen weken. Ondanks de rustige markt ziet hij tekenen van een “grote rotatie”: oude beleggers die hun bitcoin verkopen aan nieuwe instappers. Dat proces begon al toen de koers de grens van 100.000 dollar doorbrak. Zolang bitcoin zijwaarts beweegt en andere markten wel stijgen, blijft de vraag hoe lang deze fase nog aanhoudt en wat dit betekent voor de langere termijn. Tot slot in het nieuwsoverzicht: Consensys, het bedrijf achter de populaire MetaMask-wallet, wil naar de beurs. De laatste waardering van zeven miljard dollar dateert uit 2022. Naast MetaMask ontwikkelt Consensys ook tools voor bedrijven en ontwikkelaars in het Ethereum-ecosysteem. Tegelijk werkt het bedrijf aan een eigen token die gebruikers moet gaan belonen. De beursgang past in een reeks cryptobedrijven die hun weg naar Wall Street hebben gevonden. Co-host is Jacob Boersma. Gasten Jacob Boersma Links Host Daniël Mol Redactie Daniël Mol See omnystudio.com/listener for privacy information.

AGENDA: 05:17 OpenAI's Restructuring: Winners and Losers 17:17 Andreessen Horowitz's Raise $10BN in New Funds 26:38 Mercor Raises $350M at a $10BN Valuation 43:08 Spray and Pray: Does it Work: Data Breakdown 47:04 The Role of Option Checks Venture Capital 48:36 The Three Ways to Win in VC Today 54:26 Why IRR is a BS Metric and What Matters More 01:08:47 Amazon's Struggles: How Do They Return to Greatness in AI

AI isn't just changing software, it's causing the biggest buildout of physical infrastructure in modern history.In this episode, Raghu Raghuram (a16z) speaks with Amin Vahdat, VP and GM of AI and Infrastructure at Google, and Jeetu Patel, President and Chief Product Officer at Cisco, about the unprecedented scale of what's being built — from chips to power grids to global data centers.They discuss the new “AI industrial revolution,” where power, compute, and network are the new scarce resources; how geopolitical competition is shaping chip design and data center placement; and why the next generation of AI infrastructure will demand co-design across hardware, software, and networking.The conversation also covers how enterprises will adapt, why we're still in the earliest phase of this CapEx supercycle, and how AI inference, reinforcement learning, and multi-site computing will transform how systems are built and run. Resources:Follow Raghu on X: https://x.com/RaghuRaghuramFollow Jeetu on X: https://x.com/jpatel41Follow Amin on LinkedIn: https://www.linkedin.com/in/vahdat/ Stay Updated: If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Erik Torenberg joins to debate whether recent developments suggest AI progress is slowing down or stalling, addressing arguments from Cal Newport and others. Nathan counters this view by highlighting significant qualitative advances, including 100X context window expansion, real-time interactive voice, improved reasoning, vision, and AI's growing contributions to hard sciences. The conversation then covers AI's impact on the labor market, the potential for AI protectionism, and concerns about recursive self-improvement. This episode argues that AI capabilities are not stopping, with frontier developers seeing a clear path for continued rapid progress in the coming years. Sponsors: Tasklet: Tasklet is an AI agent that automates your work 24/7; just describe what you want in plain English and it gets the job done. Try it for free and use code COGREV for 50% off your first month at https://tasklet.ai Linear: Linear is the system for modern product development. Nearly every AI company you've heard of is using Linear to build products. Get 6 months of Linear Business for free at: https://linear.app/tcr Shopify: Shopify powers millions of businesses worldwide, handling 10% of U.S. e-commerce. With hundreds of templates, AI tools for product descriptions, and seamless marketing campaign creation, it's like having a design studio and marketing team in one. Start your $1/month trial today at https://shopify.com/cognitive PRODUCED BY: https://aipodcast.ing CHAPTERS: (00:00) About the Episode (03:49) Is AI Slowing Down? (09:15) Newport's Scaling Law Theory (16:56) The Value of Reasoning (Part 1) (17:17) Sponsors: Tasklet | Linear (19:57) The Value of Reasoning (Part 2) (24:52) Explaining GPT-5's Vibe Shift (31:39) AI's Impact on Jobs (Part 1) (36:50) Sponsor: Shopify (38:47) AI's Impact on Jobs (Part 2) (44:08) Recursive Self-Improvement via Code (49:35) The Future of Engineers (53:24) Economic Pressure vs. Protectionism (58:29) Progress Beyond Language Models (01:07:11) The State of AI Agents (01:19:19) China's Open Source Models (01:29:44) A Positive Vision Forward (01:37:39) Outro SOCIAL LINKS: Website: https://www.cognitiverevolution.ai Twitter (Podcast): https://x.com/cogrev_podcast Twitter (Nathan): https://x.com/labenz LinkedIn: https://linkedin.com/in/nathanlabenz/ Youtube: https://youtube.com/@CognitiveRevolutionPodcast Apple: https://podcasts.apple.com/de/podcast/the-cognitive-revolution-ai-builders-researchers-and/id1669813431 Spotify: https://open.spotify.com/show/6yHyok3M3BjqzR0VB5MSyk

Gross margins, GPUs, and the future of finance — this one's for the metrics nerds. CJ sits down with Sarah Wang, General Partner at Andreessen Horowitz, to talk about what happens when the traditional SaaS playbook collides with AI. Sarah shares how legacy benchmarks like payback period and burn multiple start to break down in a world where compute, not headcount, drives costs. She explains why sky-high gross margins can actually be an orange flag, how finance leaders can think about resource allocation between engineers and GPUs, and why the most valuable finance teams today are deeply operational. They also unpack what it's like partnering with AI-native founders, the evolution of pricing models as LLM costs drop, and whether we'll see a private trillion-dollar company anytime soon.—LINKS:on LinkedIn: https://www.linkedin.com/in/sarah-wang-59b96a7/Company: https://a16z.com/CJ on X (@cjgustafson222): https://x.com/cjgustafson222Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:996 Culture, Exploding AI Bills & SaaS ChaosFrom Credit Karma to Notion: CFO Rama Katkar on Leading Finance Through Every Growth Stage5,762 Job Applications. Zero Offers.Thinking About Adding Payments to Your Software Product? Listen to This First!—TIMESTAMPS:(00:00:00) Preview and Intro(00:02:40) Sponsors – Fidelity Private Shares, Mercury, RightRev(00:05:50) Sarah Joins the Show(00:06:06) The Future of Excel in the Age of AI(00:08:24) Why Gross Margins Don't Tell the Whole Story(00:10:42) When Sky-High Margins Are an Orange Flag(00:12:57) Finance as a Strategic Lever in AI Companies(00:15:04) Sponsors – Tipalti, Aleph, Rillet(00:17:22) Partnering with AI-Native Founders(00:20:35) When Traditional SaaS Benchmarks Break Down(00:23:58) Forecasting and Financial Planning for Compute Costs(00:27:16) The Engineers-Versus-GPUs Trade-Off(00:30:29) Resource Allocation and Infrastructure Efficiency(00:33:47) How Pricing Models Evolve as LLM Costs Drop(00:37:15) Circular Finance: When Big Tech Funds Its Own Vendors(00:40:39) Metrics That Still Matter in AI-Driven Businesses(00:44:12) The Evolving Role of Finance Leaders(00:47:26) What “Operational Finance” Really Means(00:50:58) Building Sustainable Efficiency in AI Companies(00:54:03) Will We See a Private Trillion-Dollar Company?(00:55:33) Outro—SPONSORS:Fidelity Private Shares is the all-in-one equity management platform that keeps your cap table clean, your data room organized, and your equity story clear—so you never risk losing a fundraising round over messy records. Schedule a demo at https://www.fidelityprivateshares.com and mention Mostly Metrics to get 20% off.Mercury is business banking built for builders, giving founders and finance pros a financial stack that actually works together. From sending wires to tracking balances and approving payments, Mercury makes it simple to scale without friction. Join the 200,000+ entrepreneurs who trust Mercury and apply online in minutes at https://www.mercury.comRightRev automates the revenue recognition process from end to end, gives you real-time insights, and ensures ASC 606 / IFRS 15 compliance—all while closing books faster. For RevRec that auditors actually trust, visit https://www.rightrev.com and schedule a demo.Tipalti automates the entire payables process—from onboarding suppliers to executing global payouts—helping finance teams save time, eliminate costly errors, and scale confidently across 200+ countries and 120 currencies. More than 5,000 businesses already trust Tipalti to manage payments with built-in security and tax compliance. Visit https://www.tipalti.com/runthenumbers to learn more.Aleph automates 90% of manual, error-prone busywork, so you can focus on the strategic work you were hired to do. Minimize busywork and maximize impact with the power of a web app, the flexibility of spreadsheets, and the magic of AI. Get a personalised demo at https://www.getaleph.com/runRillet is the AI-native ERP modern finance teams are switching to because it's faster, simpler, and 100% built for how teams operate today. See how fast your team can move. Book a demo at https://www.rillet.com/metrics#RunTheNumbersPodcast #FinanceLeadership #AIinBusiness #VentureCapital #SaaSMetrics This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

Join January Jones and co-host Isabel Castro in this episode of Hot Topics on the Edge of Show as they dive into the latest developments in the crypto world. This week, they discuss the recent AWS outage that disrupted major crypto platforms like MetaMask and Coinbase, raising questions about the true decentralization of these services.They also explore A16z's State of Crypto 2025 report, highlighting the rise of corporate and private blockchains and the emergence of cross-chain solutions. Unique Divine from Nibiru joins the conversation to share insights about his high-performance layer one blockchain designed for cross-chain DeFi, discussing the importance of sustainable yield and the future of decentralized finance.Tune in for an engaging discussion on the evolving landscape of Web3 technology, the challenges of decentralization, and what lies ahead for the crypto industry!Topics Covered:AWS outage and its impact on crypto platformsThe state of decentralization in the crypto spaceA16z's State of Crypto 2025 report highlightsThe rise of corporate blockchains and cross-chain solutionsUnique Divine's insights on Nibiru and sustainable yieldDon't forget to subscribe and follow us on social media to stay updated on the latest episodes and discussions!Support us through our Sponsors! ☕

Boys Club Live from Menlo Park: Peptides, Crypto Privacy, and Poshmark Insights | Special Guests Claire Kart, Jill Gunter, Gloria Allorbi, Zara Stone, and Adi Thacker   Tune in for a packed show full of intriguing conversations, industry insights, and more!   Timestamps: 00:00 Welcome to Boys Club Live 01:15 Shoutout to A16Z and Polygon 03:36 Bitcoin Hits All-Time High 04:56 Interview with Gloria from Gloria's Chito 23:09 Poshmark Insights with Addie Thacker 41:54 Technical Difficulties and Halloween Planning 42:39 Google's Halloween Insights 43:17 Spooky Season and Costume Trends 45:41 Pinterest Trends and Halloween Spending 53:05 Privacy in the Digital Age 01:02:29 Crypto Marketing Hits and Misses 01:06:46 Anti-Gatekeeping in Tech 01:17:00 Espresso: Solving Interoperability in Crypto 01:21:40 Centralized Infrastructure in Blockchain 01:22:28 Ethereum and the Challenges of Bridging 01:24:10 The Rise and Resurgence of Zcash 01:30:38 Taylor Swift and the Double Spend Problem 01:36:05 Poly Market's Strategic Investment 01:39:27 The Peptide Craze in Silicon Valley 01:59:59 Concluding Thoughts and Final Remarks   Join our newsletters:    https://boysclub.beehiiv.com/ https://tooonline.beehiiv.com/  

Sponsored by Auth0 for Startups → 1-year free https://auth0.com/startups/vip Auth0 is an adaptable authentication and authorization platform that helps you secure your apps and AI agents. It delivers convenience, privacy, and security so you can focus on building a great UX. VC PROFILE:Seema Amble, Partner at Andreessen Horowitzhttps://www.linkedin.com/in/seema-amble-b404126/

a16z crypto's CTO Eddy Lazzarin and partner Daren Matsuoka return for our annual State of Crypto to map where 2025 really is on the curve: a price–innovation cycle poised to hand the baton back to builders, Bitcoin holding ~50% share, and 70M people now using crypto on-chain out of 716M owners. We dig into why institutions are actually shipping (not just PR), how stablecoins now rival Visa-scale volumes and sit among top U.S. Treasury holders, why DEX spot share near 20% changes price discovery, and how perps, infra throughput, and fee-switch economics are reshaping revenue across chains. Plus: prediction markets' second act, the AI×crypto handshake (agents, proof-of-humanity, IP), and Bitcoin's long-dated quantum dilemma. ---

In this episode, we break down the 2025 State of Crypto report from a16z, one of the most comprehensive annual reviews of the crypto industry. Jay is joined by Darren and Robert from a16z Crypto to walk through the most important findings in the report, and to explore what they reveal about the evolving infrastructure, use cases, and investment opportunities across the crypto ecosystem.~~~~~

Codi was founded in 2018, in a pre-pandemic world, with a mission to help companies find flexible office spaces. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Margit Wennmachers ist die vielleicht einflussreichste Storytellerin im Silicon Valley – tritt selbst aber nur selten vors Mikrofon: Dass sie heute bei Wunderbar Together zu Gast ist und Felix dafür in seiner Wohnung an der Upper West Side besucht hat, ist also eine besondere Ehre für uns. Als PR-Pionierin hat Margit das Tech-Storytelling neu erfunden – und im Hintergrund die Narrative einer Industrie geprägt. Jetzt startet ihr „drittes Karriere-Kapitel“ – uns erzählt sie, was sie vorhat.

Sponsored by Auth0 for Startups --> 1-year free https://auth0.com/startups/vipAuth0 is an adaptable authentication and authorization platform that helps you secure your apps and AI agents. It delivers convenience, privacy, and security so you can focus on building a great UX.FOUNDER PROFILE:Arvind Parthasarathihttps://www.linkedin.com/in/arvindparthasarathi/  

Today's special crosspost features a16z General Partner Anjney Midha with Liam Fedus and Ekin Dogus Cubuk of Periodic Labs. They discuss experiments in training frontier AI models on real-world physics lab experiments—rather than digital reward functions—and how coupling language models with automated materials synthesis could accelerate the discovery of room-temperature superconductors and transform R&D in advanced manufacturing. Shownotes brought to you by Notion AI Meeting Notes - try one month for free at: ⁠https://notion.com/lp/nathan Core innovation: Periodic Labs is creating a "physically grounded reward function" by integrating experiments directly with AI systems. Physical lab integration: Unlike traditional AI labs, Periodic includes actual physical experimentation facilities where AI can run tests in the real world. Novel approach to training: Periodic takes pre-trained language models and further trains them on physics and chemistry knowledge to improve performance in scientific domains. Read the full transcript here: https://storage.aipodcast.ing/cache/combinedtranscript-20251002T100327544Z.html Sponsors: Linear: Linear is the system for modern product development. Nearly every AI company you've heard of is using Linear to build products. Get 6 months of Linear Business for free at: https://linear.app/tcr AGNTCY: AGNTCY is dropping code, specs, and services. Visit AGNTCY.org. Visit Outshift Internet of Agents Claude: Claude is the AI collaborator that understands your entire workflow and thinks with you to tackle complex problems like coding and business strategy. Sign up and get 50% off your first 3 months of Claude Pro at https://claude.ai/tcr Shopify: Shopify powers millions of businesses worldwide, handling 10% of U.S. e-commerce. With hundreds of templates, AI tools for product descriptions, and seamless marketing campaign creation, it's like having a design studio and marketing team in one. Start your $1/month trial today at https://shopify.com/cognitive PRODUCED BY: https://aipodcast.ing

Can AI help find the next breakthrough material? One of my side quests on this long world trip has been chasing the answer to this question. AI-accelerated materials discovery is fascinating to me because the right material at the right time can revolutionize economy and society. Yet the process of material discovery has little changed from the 20th century: Sweaty, repetitive trial-and-error or dumb serendipity. In a prior video, I mentioned Periodic Labs, which raised $200 million from A16Z at a billion dollar valuation. But they are not alone in the space. In the United States, we have Orbital Materials and Radical AI. As well as Dunia Innovations and RARA Factory in Europe. I know there might be two or so more I haven't heard of. Not to mention DeepMind and Google doing work here as well. Are all of these guys chasing ghosts? Over the past few months, I have read some things and spoke to some people. In today's video, some scattered thoughts on AI-accelerated material discovery. Is it real?

Can AI help find the next breakthrough material? One of my side quests on this long world trip has been chasing the answer to this question. AI-accelerated materials discovery is fascinating to me because the right material at the right time can revolutionize economy and society. Yet the process of material discovery has little changed from the 20th century: Sweaty, repetitive trial-and-error or dumb serendipity. In a prior video, I mentioned Periodic Labs, which raised $200 million from A16Z at a billion dollar valuation. But they are not alone in the space. In the United States, we have Orbital Materials and Radical AI. As well as Dunia Innovations and RARA Factory in Europe. I know there might be two or so more I haven't heard of. Not to mention DeepMind and Google doing work here as well. Are all of these guys chasing ghosts? Over the past few months, I have read some things and spoke to some people. In today's video, some scattered thoughts on AI-accelerated material discovery. Is it real?

This week on the Newcomer Podcast, we dive into three stories that reveal how tech, politics, and media are colliding in unexpected ways. First, we look at Andreessen Horowitz's expanding media ambitions, exploring why A16z wants to shape the narrative around everything from defense tech to TikTok. Then, we turn to Trump's feud with Jimmy Kimmel, which led to Kimmel's suspension and re-hiring by Disney — a moment that highlights the uneasy dance between business leaders, politics, and late-night TV. Finally, we take a deep dive into the Klarna IPO, a $15B milestone that was more than 15 years in the making, unpacking the winners, the losers, and the lessons that investors and founders can learn from the journey.Hosted by Eric Newcomer with reporting from Madeline Renbarger, this episode offers sharp insights into how power and money are shaping the future of technology and media. Subscribe for weekly conversations at the intersection of Silicon Valley and society, and don't miss more deep dives at newcomer.co

In this episode, Sasha Orloff sits down with Jason Mok, VP & GM of Startups at Brex, about the company's evolution from credit cards to a comprehensive financial platform and their new partnership with Puzzle to offer "one-click accounting" that automatically sets up bookkeeping for startups during Brex onboarding, eliminating the friction that typically delays founders from getting proper financial infrastructure in place from day one. -- SPONSORS: Notion Boost your startup with Notion—the ultimate connected workspace trusted by thousands worldwide! From engineering specs to onboarding and fundraising, Notion keeps your team organized and efficient. For a limited time, get 6 months of Notion AI FREE to supercharge your workflow. Claim your offer now at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://notion.com/startups/puzzle⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Puzzle

The More or Less team go deep on the rumored TikTok deal: licensing the algorithm vs. owning influence, who actually controls the For You page, and why data localization misses the point. We debate A16Z's evolving role, Sequoia's must-have-access imperative, and what a “TikTok US CEO” would really do.Chapters:00:48 - Intro + Ty Haney's crypto-invisible loyalty rails 02:38 - “Do the weather” for Silicon Valley05:04 - Alcatraz as brand strategy (and why)11:22 - TikTok deal setup: ownership shuffle vs. real control20:05 - What does a TikTok US CEO actually do? “Shell upon shell”22:40 - “I want a human to pick my feed” — the curation comeback24:21 - Slow's Etiquette School: leveling the playing field37:31 - Meta's new glasses: HUD, wristband typing, live captions44:33 - LLMs as the new youth battleground; customizing AI personalities48:45 - Mid-cap IPOs, rate cuts, and why “number didn't go up”53:14 - The case for exclusive, hyper-local print (and price it high)We're also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessYouTube: https://youtu.be/P3Gzl2ZDXWwConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

Ben Horowitz is the co-founder of Andreessen Horowitz, Silicon Valley's largest and most influential venture capital firm, with over $46B in committed capital across multiple funds. He took Loudcloud public with just $2 million in revenue (dubbed “the IPO from hell”), sold it for $1.6 billion, and has backed companies from Facebook to Stripe to Airbnb to OpenAI to Databricks (now worth more than $100 billion). His management philosophy—forged through near-death experiences and refined through coaching hundreds of CEOs—contradicts most conventional startup wisdom.In our conversation, Ben shares:1. Why “founder mode” is half right and half dangerously wrong2. The story behind “Good Product Manager/Bad Product Manager” and why it went viral despite being written in anger3. Where the biggest AI startup opportunities remain4. Why you need to run toward fear, never away5. The one trait that predicts that a founder will fail as CEO6. Inside Paid in Full, Ben's nonprofit awarding pensions to pioneering hip-hop artists—Brought to you by:DX—The developer intelligence platform designed by leading researchers: http://getdx.com/lennyBasecamp—The famously straightforward project management system from 37signals: https://www.basecamp.com/lennyMiro—A collaborative visual platform where your best work comes to life: https://miro.com/lenny—Transcript: https://www.lennysnewsletter.com/p/46b-of-hard-truths-from-ben-horowitz—My biggest takeaways (for paid newsletter subscribers): ⁠https://www.lennysnewsletter.com/i/172439345/my-biggest-takeaways-from-this-conversation—Where to find Ben Horowitz:• X: https://x.com/bhorowitz• LinkedIn: https://www.linkedin.com/in/behorowitz/• Website: https://benhorowitz.com/• Andreessen Horowitz's website: https://a16z.com/—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Ben Horowitz(04:09) Important leadership lessons from Shaka Senghor(10:15) Running toward fear and why hesitation kills companies(19:35) Who shouldn't start a company(22:36) The Databricks story: thinking bigger(24:54) Managerial leverage and CEO psychology(28:06) When founders should be replaced as CEOs(31:20) Normalizing failure for CEOs(37:57) Counterintuitive lessons about building companies(42:31) “Good Product Manager/Bad Product Manager”(48:21) Product managers as leaders(51:16) Why a16z invested in Adam Neumann after WeWork(56:23) Is AI in a bubble?(01:02:43) The biggest opportunities in AI(01:12:51) Why U.S. leadership in AI matters(01:18:53) The Paid in Full Foundation for hip-hop pioneers(01:23:18) Lightning round: book recommendations, products, and life mottos—References: https://www.lennysnewsletter.com/p/46b-of-hard-truths-from-ben-horowitz—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com

How to build a unicorn in under 2-years? Not exactly a step-by-step playbook, but you will learn something from a founder who actually did it! You will also hear a VC's perspective from Kevin Weber, Managing Director at Amex Ventures! Boom. Jesse Zhang Founder & CEO of Decagon https://www.linkedin.com/in/thejessezhang/ Kevin Weber Managing Director at Amex Ventures https://www.linkedin.com/in/kevin-weber-b77b8028/

AGENDA: ​​00:00 – Marc Benioff vs Snowflake, Databricks & Palantir: Who Wins the Data Cloud War? 05:10 – Does Benioff Feel The Need to Buy AI Talent Like Zuck Is? 09:00 – What Salesforce has Learned From Palantir on Forward Deployed Engineers? 18:00 – Will SaaS apps disappear in an AI world? Why Satya is Chatting S*** 23:40 – Are SDRs really screwed by AI… or just evolving? 26:10 – Benioff on Who Wins: OpenAI or Anthropic? 30:00 – Nat Friedman reports to Alex Wang: Genius move or career downgrade? 34:00 – Anthropic's $10B round: Have we hit peak AI hype? 47:00 – Klarna's wild ride: From $45B to $6B to IPO at $15B 55:00 – Inside a16z's seed machine: 72 bets vs Sequoia's 27 57:45 – Martìn Casado: Is consensus investing dangerous—or the only game? 01:05:00 – The big lesson: consensus, contrarian, and why investing is harder than ever  

Erik Torenberg sits down with Ben Horowitz, Cofounder of a16z, for a candid conversation on venture capital, leadership, and the future of innovation. Recorded live at a16z's Menlo Park offices in 2023, Ben shares practical wisdom and hard-earned lessons on navigating market cycles, building resilient companies, and why culture is a lasting competitive edge.Timecodes: 0:00 Introduction 0:49 Building a Lasting Venture Firm1:57 Product vs. Investor-Driven Firms5:17 Evolution of Andreessen Horowitz8:43 Fund Sizing & Market Opportunity11:38 Recruiting & Culture at a16z13:58 Supporting Founders & Firm Mission14:39 Governance & Firm Structure17:15 The Future of Venture Capital20:26 Riding Trends: AI, Web3, and Beyond27:06 Regulation, Open Source, and Innovation29:22 LPs, Macro, and Long-Term Strategy33:25 Advice for the Next Generation37:15 Tech Optimism & Societal Impact42:33 Closing Thoughts & Outro Resources: Find Ben on X:  https://x.com/bhorowitzSubscribe to Turpentine VC: link.chtbl.com/TurpentineVC Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://x.com/eriktorenbergPlease note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Gm! This week Miles Jennings and Eddy Lazzarin join Yano to dive into how a16z is approaching the current crypto landscape with a big focus on token design, designation, and how Founders can think pragmatically both along legal and engineering lines to execute their project.  -- Start your day with crypto news, analysis and data from Katherine Ross. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts -- Follow Eddy: https://x.com/eddylazzarinFollow Miles: https://x.com/milesjenningsFollow Jason: https://x.com/JasonYanowitzFollow Empire: https://twitter.com/theempirepod -- Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh -- SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees.  SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at https://skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork -- Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users.  Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates [https://app.katana.network/krates] -- Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space. Visit https://www.ledn.io to learn more. – Timestamps: (03:36) Progress In DC (05:42) Paul Atkins' Onchain Declaration (13:55) End of Foundation Era In Crypto (27:31) Ads (Skale, Katana) (29:02) DUNAs & BORGs (40:12) Defining Tokens (54:54) Ads (Skale, Katana) (56:25) Token Transparency & Classifications (01:07:29) When Fees? (01:15:55) Ads (LEDN) (01:16:57) Balancing PortCos (01:19:44) Common Founder FAQs — Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

On this TCAF Tuesday, Josh and Michael are joined by Sam Broner of a16z crypto to break down the biggest developments in the world of stablecoins. From PayPal and Circle to the role of U.S. regulators, this conversation covers where the money's moving and why it matters. Sam explains how stablecoins are quietly reshaping payments, banking, global finance and more. Then at 44:05 hear an all-new episode of What Are Your Thoughts with ⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠ and ⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠! This episode is sponsored by Public. Fund your account in five minutes or less by visiting: https://public.com/WAYT   Sign up for ⁠⁠⁠⁠The Compound Newsletter⁠⁠⁠⁠ and never miss out! Instagram: ⁠⁠⁠⁠https://instagram.com/thecompoundnews⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠https://twitter.com/thecompoundnews⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/company/the-compound-media/⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠https://www.tiktok.com/@thecompoundnews⁠⁠⁠⁠ Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use. *Rate as of 6/24/25. APY is variable and subject to change. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices