Podcast appearances and mentions of Peter Walker

Keir Starmer has announced he is standing down as prime minister after days of intense pressure from Labour MPs, including cabinet ministers, following Andy Burnham's byelection victory in Makerfield. Wes Streeting has ruled himself out of the running, so will it be a coronation for the ‘king of the north' or could another candidate emerge? Lucy Hough speaks to senior political correspondent Peter Walker – watch on YouTube. Help support our independent journalism at theguardian.com/infocus

Peter Walker is joined by pollster Luke Tryl of More in Common to discuss Sir Tony Blair's intervention in the Labour leadership saga and the party's prospects in the Makerfield byelection Please send your questions and messages for Pippa Crerar and Kiran Stacey to politicsweeklyuk@theguardian.com. Help support our independent journalism at theguardian.com/politicspod

The AI boom is making founders feel like the market is wide open, but the data tells a sharper story: valuations are up, round sizes are bigger, and the bar to “count” in a top-tier fund's Monday meeting keeps rising. We sit down with Peter to translate Q1 2026 venture capital trends into founder reality, from seed-stage pricing distortions driven by AI infrastructure to the quieter pressure building across the rest of the startup market.We get specific on early-stage fundraising benchmarks and why Series A now looks riskier than many people assume. Median Series A valuations have climbed close to 2x in a few years, while typical raises jumped from roughly $8M to $10M to $13M to $15M. That changes everything: ownership targets, follow-on costs, and the outcome math that pushes investors (and founders) toward “decacorn-plus” expectations. If you are pitching $100M ARR as the endgame, you may already be behind.Then we zoom out to the forces shaping who wins: Bay Area gravity, a real valuation gap versus other hubs, and practical tactics like visiting the Bay to capture network effects without uprooting your life. We also dig into defensibility in AI application startups, where building is faster but competition is fiercer, plus the rise of smaller teams and solo founders, and what that means for hiring, equity, and motivation on early teams.Chapters00:00:00 LLM Hype And Bubble Warning00:02:13 Five Stars Then We Begin00:03:02 Seed Prices Spike In AI Infra00:07:10 2026 Benchmarks For Pre-Seed To A00:09:36 Series A Doubles And Exit Math00:12:54 Bay Area Gravity And Valuation Gap00:18:22 Defensibility Gets Harder In AI Apps00:23:22 Smaller Teams Solo Founders Talent Shifts00:35:20 VC Fund Shakeout And Final Share AskSend me a message to let me know what you think!

There is a long-standing stigma in venture capital that debt is a "company killer." This week on The Data Minute, Peter Walker sits down with Marshall Hawks, former SVB expert and author of “Venture Debt Deals,” to debunk the myths and explain why debt is often the smartest addition to a founder's equity mix.Marshall breaks down the tactical reality of how these deals actually get done, from the "sniff test" lenders perform during office visits to the critical differences between venture banks and private credit funds. He explains how founders can use debt to survive 15-year exit timelines while minimizing dilution, and shares the specific red flags that indicate a startup is becoming over-leveraged.Plus, Marshall offers a rare look at the "workout groups" that step in when things go wrong and explains why a company's General Counsel might not be the right person to lead a debt negotiation. Whether you are an early-stage founder or a late-stage operator, this episode is a definitive guide to capitalizing your business in a shifting market.Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/Chapters:00:16 – Intro: Marshall Hawks and the Venture Debt stigma01:10 – Why Marshall wrote "Venture Debt Deals"03:26 – Addressing the Paul Graham view: Is debt dangerous?06:40 – When (and when NOT) to touch venture debt09:14 – The "Insurance" Play: Why many founders never draw the capital10:48 – Venture Banks vs. Private Credit Funds13:00 – Understanding draw periods and interest-only terms17:34 – Why your lender wants to visit your office (The Sniff Test)22:28 – The market after March 2023: Life after SVB26:09 – The "Workout Group": What happens when things go sideways? 30:31 – Green flags: How to diligence your lending partner33:50 – The legal process: Why GC's need outside support37:13 – Hidden costs: Why the company pays everyone's legal fees42:31 – Using debt to survive 15-year exit timelines44:49 – Red flags: Debt service vs. opex ratios48:06 – Final advice: Fundraising is not successThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2026 eShares, Inc., dba Carta, Inc. All rights reserved.

Keir Starmer appears to have staved off an immediate leadership challenge but MPs are still calling for him to set out a timetable for his resignation. So can he cling on or has he run out of road? Lucy Hough speaks to senior political correspondent Peter Walker. Help support our independent journalism at theguardian.com/infocus

Helen Pidd and Peter Walker on the local elections and why the Green party has surged in the polls. Help support our independent journalism at theguardian.com/infocus

Peter Walker brings Carta's proprietary private market data from 60,000 startups and 85% of US unicorns to expose the brutal realities of today's tech landscape. While Q1 saw record capital raised, the money is highly concentrated among foundation models. We review the harsh truth behind the 530,000 open tech jobs in the US and the widening talent divide separating top 10% performers from the rest of the market. The conversation covers why venture capital is squeezing operators, how private equity is no longer a guaranteed exit strategy, and the urgent need to optimize your GTM strategy for AI-native workflows. We also debate the death of long-term product roadmaps, the impact of AI on enterprise pipeline generation, and evaluate whether middle management will survive the next 24 months. Key Takeaways The traditional safety net for slow-growth SaaS companies has disappeared, with Peter Walker noting that "A lot of companies held out this PE route as like, this is my escape hatch if I don't grow that fast. And now they're finding it's like, actually, the PEs don't care about you either." Securing venture capital has never been harder for founders outside of the AI bubble, as Peter Walker states "it's definitely not the easiest time to raise money unless you are already in the legible cohort. And if you're in the legible cohort, you know who you are." Rapid execution is replacing traditional product planning, with Peter Walker emphasizing that "the companies that are moving fast… don't know what they're doing in three weeks... we have no idea what's going to happen in October." Artificial intelligence is fundamentally threatening traditional communication hierarchies, and Sam Jacobs is bearish on the future of people managers because "if the purpose of management is to facilitate decision making at certain executive levels, that is something that AI can do." Connect with the Hosts & Guests  Host: Sam Jacobs - https://www.linkedin.com/in/samfjacobs/  Host: AJ Bruno - https://www.linkedin.com/in/ajbruno3/  Host: Asad Zaman - https://www.linkedin.com/in/azaman1/  Guest: Peter Walker - https://www.linkedin.com/in/peterjameswalker/   Topline is more than a YouTube Channel! Subscribe to Topline Newsletter: https://toplinemedia.substack.com/ Tune into Topline Podcast, the #1 podcast for founders, operators, and investors in B2B tech: https://www.joinpavilion.com/topline-podcast  Join the free Topline Slack channel to connect with 600+ revenue leaders to keep the conversation going beyond the podcast: https://www.joinpavilion.com/topline-slack Chapters:  00:00 The AI Funding Divide  02:36 Is It Harder to Raise Capital  04:37 VCs Only Care About Growth  06:44 The Death of the PE Exit  10:48 Transitioning to AI Native  14:50 Why Product Roadmaps Are (Kinda) Dead  19:19 Stop Defaulting to VC  29:11 Historic Tech Funding Rounds  31:59 Over 530K Open Tech Jobs  36:55 Hiring Market Concentration  46:29 The Growing Tech Talent Divide  49:11 VC Fund Performance Realities  54:28 Future of Foundation Models  58:29 The End of Middle Management  

Keir Starmer and the UK government are scrabbling to keep up with Trump's fast-changing position on Iran and the Middle East. While a two-week ceasefire is in place, how long will it hold for? Peter Walker and Alexandra Topping look at what happens now. And, with the local election campaign under way, how are the different parties responding to the conflict?. Help support our independent journalism at theguardian.com/politicspod

Your co-founder relationship is the single most important variable in your startup's success, and one of the most likely things to destroy it.Today, Yaniv Bernstein sits down with Dr. Matthew Jones, author of ‘The Cofounder Effect' and founder of Co-Founder Clarity, to dig into the psychology of co-founder relationships: why they break down and what the warning signs look like.Matt brings a rare combination of clinical depth and startup-world pragmatism to the topic - an essential skillset to help you properly understand common co-founder pitfalls, and how to avoid them. In this episode, you will:Learn what 'negative sentiment override' is, why it's the tipping point in a deteriorating co-founder relationship, and how to catch it before it takes hold.Discover how the co-founder relationship is structurally different from a marriage, and why that means you have to deliberately repair and reconnect with your co-founder.Hear why power dynamics in founding teams are almost always present and are often more destructive when left unnamed.Find out why being able to navigate conflict is more important than finding the 'right' co-founder pairing.Understand the risks of identity fusion with your startup, and why professional distance is a feature rather than a weakness.Learn why co-founder agreements need to evolve over time, and what a healthy renegotiation looks like.Explore the unique dynamics of three- and four-person founding teams, including the coalition patterns that tend to emerge and why they're so destructive.Resources mentioned in this episode:Dr. Matthew Jones' website, Co-Founder Clarity (his coaching practice): https://www.cofounderclarity.com‘The Founder's Dilemmas' by Noam Wasserman: https://www.amazon.com/Founders-Dilemmas-Anticipating-Princeton-Entrepreneurship/dp/0691158304'Knowing This Data Will Make You A Better Fundraiser', the TSP episode with Carta's Head of Insights, Peter Walker: https://open.spotify.com/episode/7aI9NeIVZ7JqkSH2OsizBFThe Gottman Institute - the research behind 'negative sentiment override' discussed in this episode: https://www.gottman.comDr. Matthew Jones on LinkedIn: https://www.linkedin.com/in/dr-matthew-jones-7a832a37/ The Pact Honor the Startup Podcast Pact! If you have listened to TSP and gotten value from it, please:Follow, rate, and review us in your listening appSubscribe to the TSP Mailing List to gain access to exclusive newsletter-only content and early access to information on upcoming episodes: https://thestartuppodcast.beehiiv.com/subscribe Secure your official TSP merchandise at https://shop.tsp.show/  Follow us here on YouTube for full-video episodes: https://www.youtube.com/channel/UCNjm1MTdjysRRV07fSf0yGg Give us a public shout-out on LinkedIn or anywhere you have a social media followingKey linksThis episode of the Startup Podcast is sponsored by .tech domains. Forget weird prefixes and creative misspellings; the availability for .tech domains is simply way better than .com. For a clean name that highlights your tech credentials, get a .tech domain at your favorite registrar.This episode of the Startup Podcast is sponsored by Vanta. Vanta helps businesses get and stay compliant by automating up to 90% of the work for the most in demand compliance frameworks. With over 200 integrations, you can easily monitor and secure the tools your business relies on. For a limited time offer of US$1,000 off, go to ⁠⁠⁠⁠https://⁠www.vanta.com/tsp⁠⁠⁠⁠⁠Get your question in for our next Q&A episode: https://forms.gle/NZzgNWVLiFmwvFA2A The Startup Podcast website: https://www.tsp.show/episodes/Learn more about Chris and YanivWork 1:1 with Chris: http://chrissaad.com/advisory/  Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/  Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthurIntro Voice: Jeremiah Owyang https://web-strategist.com/

At the launch of the Conservative local elections campaign on Thursday, Peter Walker asked Kemi Badenoch about her shadow justice secretary's claim that Muslims praying in Trafalgar square was an ‘act of domination'. Her answer did not clarify the party's position. Peter discusses with Lexy Topping the problems this kind of culture war may bring the Conservatives. Plus, are Sadiq Khan's comments on the EU and Angela Rayner's return to the spotlight a new headache for Keir Starmer?. Help support our independent journalism at theguardian.com/politicspod

Kemi Badenoch has described Donald Trump's criticism of Keir Starmer as ‘childish' and said it ‘sends the wrong signal to our opponents in Iran or in Russia'. Trump repeated his previous attack on the prime minister on Tuesday, saying: ‘Unfortunately Keir is no Winston Churchill.' Are cracks starting to appear in the US-UK special relationship? Lucy Hough speaks to our senior political correspondent Peter Walker – watch on YouTube. Help support our independent journalism at theguardian.com/infocus

As the first tranche of documents relating to the hiring of Peter Mandelson are released, how bad will the fallout be for Keir Starmer and the government? Pippa Crerar is joined by Peter Walker to discuss. Plus, the fuel duty row that Rachel Reeves thought she could avoid. Help support our independent journalism at theguardian.com/politicspod

Reform UK has this week announced its ‘shadow cabinet'. But with a familiar cast of former Conservative ministers, can Nigel Farage shake off claims that his ‘one-man band' is little more than a Tory 2.0 project? Kiran Stacey and Peter Walker discuss what the appointments reveal about Reform's policy direction. Plus: who is Antonia Romeo, the newly appointed cabinet secretary? Please send your questions and messages for Pippa Crerar, Kiran Stacey and John Harris to politicsweeklyuk@theguardian.com. Help support our independent journalism at theguardian.com/politicspod

The prime minister may have seen off the challenge for the moment – but what will be the cost to his leadership? Peter Walker reports. Help support our independent journalism at theguardian.com/infocus

There have been a slew of defections as Reform rides high in the polls. But is it changing the party? Peter Walker reports. Help support our independent journalism at theguardian.com/infocus

Keir Starmer has played down the possibility of retaliatory tariffs on the US, after Donald Trump threatened them against Nato allies unless they support his plan to take Greenland. At an emergency press conference, Starmer said tariffs would be the “wrong thing to do”. Lucy Hough speaks to the Guardian's senior political correspondent, Peter Walker – watch on YouTube. Help support our independent journalism at theguardian.com/infocus

This time Ned, Adam and Laura talk targets - and why the third Cycling and Walking Investment Strategy (CWIS3) needs outputs, not simply outcomes. They are joined by the CEO of the Walk, Wheel, Cycle Trust (formerly Sustrans), Xavier Brice, who knows all about strategies, and delivering active transport networks.The government recently ended a consultation on CWIS3 but, frustratingly, the proposals lacked any investment or much strategy. There were no SMART targets, or any outputs, i.e. routes; simply the unachievable outcome that by 2035 walking, wheeling and cycling will be "a safe, easy and accessible option for everyone". Road Investment Strategies, by contrast, focus heavily on routes and infrastructure, so why do we treat walking, wheeling and cycling differently?Xavier Brice has been CEO of the Walk Wheel Cycle Trust since 2016. In 2007 Brice led the development of a new walking and cycling strategy for London, with Transport for London.This month Adam, Laura and Xavier Brice coordinated an open letter to the Secretary of State supporting a better CWIS3. That letter was signed by more than 50 organisations across health, active travel and beyond. It asked that central government maps a true national network of routes by 2030, and sets targets to deliver that network to a proper, accessible standard by 2050.You can read the letter here: https://bsky.app/profile/adamtranter.bsky.social/post/3m7fv3vhyks2rThe letter was covered in the Guardian by Peter Walker: https://www.theguardian.com/politics/2025/dec/12/drivers-cyclists-transport-policy-conservatives-culture-wars-road-safety Shortly after that, Walker interviewed transport minister, Lilian Greenwood, about the importance of 'creating a system that works for everyone': https://www.theguardian.com/politics/2025/dec/12/drivers-cyclists-transport-policy-conservatives-culture-wars-road-safetyLaura's Freedom of Information requests to English local authorities found just 2 per cent had used legal powers to purchase land - something that's done routinely for roads https://substack.com/home/post/p-178788505And her article on CWIS3: https://lauralaker.substack.com/p/a-cycling-and-walking-strategy-walksThe Walk, Wheel Cycle Trust has been improving the National Cycle Network (NCN). In 2023/24 1.7km of an off-road muddy track connecting the residential area of Newton, in West Doncaster, to Danum retail park, was widened (on NCN62), with seven barriers removed or redesigned, along with improved wayfinding and signage. Estimated annual usage rose by 196% according to the Walk, Wheel Cycle Trust, from 150,000 trips in 2022 to 450,000 in 2024. Pedestrian and cycling trips increased by 191% and 192% respectively, while other users increased by 270%. Another path improvement project in Redcar and Cleveland saw ten barriers removed on NCN1 and NCN68. Wheelchair user trips increased four-fold, from 200 to 800, with 100% of disabled users saying they now use the route as the most convenient option.For ad-free listening, behind-the-scenes and bonus content and to help support the podcast - head to (https://www.patreon.com/StreetsAheadPodcast). We'll even send you some stickers! We're also on Bluesky and welcome your feedback on our episode: https://bsky.app/profile/podstreetsahead.bsky.social Hosted on Acast. See acast.com/privacy for more information.

Hours after the Battles of Lexington and Concord, rebel British Americans begin laying siege to Boston, trapping thousands of civilians and soldiers in town for months with dwindling supplies, compelling the British to make a costly assault on nearby Bunker Hill and Breed's Hill. Featuring: Rick Atkinson, Lindsay Chervinsky, Brad Jones, and Rosemarie Zagarri. Voice Actors: Adam Smith, Grace Mallon, John Turner, Annabelle Spencer, Evan McCormick, John Terry, Spencer McBride, and Peter Walker. Narrated by Dr. Jim Ambuske. Music by Artlist.io This episode was made possible with support from a 2024 grant from the National Endowment for the Humanities.  Help other listeners find the show by leaving a 5-Star Rating and Review on Apple, Spotify, Podchaser, or our website. Follow the series on Facebook or Instagram. Worlds Turned Upside Down is a production of the Roy Rosenzweig Center for History and New Media at George Mason University.

Looking to fund your startup? If you're new to the process, fundraising can be difficult to navigate. Not only are there a myriad of ways to go about it, but it can be hard to tell whether the tips, tricks, and advice floating around are based on any evidence at all.[This week, I'm turning the mic over to my friends at The Startup Podcast. featuring Carta's head of insights on what you need to know about today's fundraising environment and how AI is affecting valuations, equity, and how companies grow. Here's how they describe this episode...]So, what is the truth?And what are the actual, data-backed insights that can help you choose the best method of fundraising for your own business?Enter: Peter Walker.As Head of Insights at Carta, he has access to, and industry knowledge about, the vast sets of funding data that will help you cut through the noise. Today, he joins Chris and Yaniv in discussing the real data behind startup funding trends in 2025 and the key takeaways you can apply to your own startups.In this episode, you will:Discover why Silicon Valley valuations often hurt founders more than they helpUnderstand how AI startups now account for nearly half of all venture funding, and what that means for non-AI foundersLearn how lean AI-driven teams are reshaping early-stage hiring, with Series A companies shrinking from 25 employees to just 15See why most founders misunderstand SAFE notesExplore why 70% of startup employees never exercise their equityUncover the reasons behind why nearly 40% of startups lose a co-founder within seven yearsGet clarity on founder vesting, equity splits, and why a six-year vesting schedule may protect your company better than fourReframe your goals as a founder: why chasing “life-changing money” isn't the right reason to start a company---Featured voices:Peter Walker - Head of Insights at CartaYaniv Bernstein - Co-host of The Startup PodcastChris Saad - Co-host of The Startup PodcastMe (Dan Blumberg) — I'm the host of CRAFTED. and the founder of Modern Product Minds. HMU if you want to build something great. I love building from zero to one.---And if you please…TAKE THE SURVEY: It'll just take five minutes and I'll give $100 to the charity of choice for one lucky respondentShare with a friend! Word of mouth is by far the most powerful way for podcasts to growSubscribe to the CRAFTED. newsletter at crafted.fmShare your feedback! I'm experimenting with new episode formats and would love your honest feedback on this and other episodes. Email me: dan@modernproductminds.com or DM me on LinkedInSponsor the show? I'm actively speaking to potential sponsors for 2026 episodes. Drop me a line and let's talk.Get psyched!… There are some big updates to this show coming soon!

Geraldine McKelvie reports from the ground at the inaugural Your Party conference, while Peter Walker talks to a number of insiders about the divisions that have beset the party until now. Help support our independent journalism at theguardian.com/infocus

Carta's Peter Walker is back with the freshest data on what's actually happening at the early stage—and it's not what you're reading on X. While headlines scream about record-breaking rounds, the reality on the ground tells a different story. Seed deals are down. Time between rounds is stretching. And there's a brutal divide between the companies getting all the attention and everyone else. We dig into the exact valuations, graduation rates, team sizes and revenue you need for Seed and Series A... plus why the lowest-quartile seed rounds are failing at twice the rate. If you're raising or planning to raise, this is the episode.Why You Should ListenThe round size that cuts your Series A odds in halfWhy smaller teams are winning (and what that means for your hiring plan)The real median valuations at pre-seed, seed, and Series A right nowHow long it actually takes to get from seed to Series A in 2024When taking secondary as a founder makes sense (and when it doesn't)Keywordsstartup podcast, startup podcast for founders, seed round valuation, Series A fundraising, startup fundraising data, venture capital trends, pre-seed funding, startup metrics, founder secondary, seed to Series AChapters:00:00:00 Intro 00:02:46 Seed Valuations and Who Actually Graduates to Series A 00:06:58 What Founders Outside the Hot Cohort Should Do 00:11:44 Team Sizes Are Shrinking and Employees Are Getting Less 00:17:40 Crowded Categories and Competing with Foundation Models 00:24:47 Founders Starting Companies for the Wrong Reasons 00:33:32 When Founder Secondaries Make Sense 00:39:55 The Actual Median Valuations at Pre-Seed Seed and Series ASend me a message to let me know what you think!

In another special solo episode, Peter Walker dives deep into Carta's Q2 Fund Performance Report to unpack the data on what's really happening inside venture capital today.Peter walks through the critical benchmarks every GP and LP needs to know, from median and top-decile Net IRR, TVPI, and DPI across different vintages and fund sizes. He explains why the 2021 vintage is struggling, why small funds have higher performance dispersion, and how liquidity pressure is (or isn't) impacting GP behavior.He also introduces the single biggest theme defining venture in 2025: Concentration. Peter breaks down how this theme is affecting AI funding, geography, lead investor ownership, and even bridge rounds. Plus, he answers pre-submitted questions on follow-on strategy, liquidation preferences, and how to stand out to LPs in a crowded market.Q2 2025 VC Fund Performance Report:https://carta.com/data/vc-fund-performance-q2-2025/Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/02:03 – Chart 1: The VC fund universe (Fund sizes) 02:47 – Chart 2: Dry powder by fund size03:12 – Chart 3: Dry powder by vintage year04:14 – Chart 4: The hollowing middle of venture05:08 – Chart 5: LP count by fund size06:09 – Why are there fewer LPs in recent vintages?07:07 – Chart 6: The rise of the anchor LP07:51 – Digging into fund performance08:11 – What LPs really want to see (Net performance)09:03 – Chart 7: Net IRR by vintage year10:21 – Chart 8: IRR J-Curve (Why 2021 is struggling)11:59 – Chart 9 & 10: Top Quartile & Top Decile IRR13:05 – Chart 11: Do smaller funds outperform larger funds?14:55 – Chart 12: TVPI benchmarks (Median vs. Top Decile)15:34 – Chart 13-15: TVPI over time (Median, Top Quartile, Top Decile)16:50 – Why 3x net is a Top 10% goal, not Top Quartile17:15 – Chart 17: DPI (Money back to investors)18:26 – Chart 18: The psychology of liquidity (DPI > $1)20:01 – The broad venture context: Fundraising improves20:48 – Chart 20: The persistence of bridge rounds21:48 – Chart 21: Down rounds are decreasing23:04 – Are fund marks based on SAFEs? (No)23:55 – Chart 22: Time between rounds24:49 – Chart 23 & 24: Seed-to-A & A-to-B graduation rates27:39 – The 2025 Theme: Concentration28:05 – Concentration 1: The AI Boom29:31 – Concentration 2: More cash, fewer startups31:33 – Concentration 3: Lead investors are taking more32:52 – Concentration 4: "Preemptive" bridge rounds34:47 – Concentration 5: Geography (The Bay Area)37:46 – Start: Pre-submitted Q&A38:57 – Q1: Do mega-funds add value at seed?40:42 – Q2: How much should small funds reserve for follow-ons?42:47 – Q3: How common is investor-friendly structure? (Liquidation prefs)44:32 – On signaling risk45:35 – On LP pushback on fees & carry46:50 – On the state of exits (M&A vs. IPO)49:01 – On extended fund lifetimes (10 vs. 15 years)50:08 – On "no fee, carry only" funds53:10 – Key takeaways for fundraising GPs: Distinctiveness is keyThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, 

Venture capital isn't dead — it's evolving. Carta's Head of Insights, Peter Walker, joins Jon Bradshaw and Peter Harris to unpack what the data really says about the 2025 market. From the AI-fueled bifurcation to shrinking equity packages and a wave of secondaries, this episode breaks down how founders, VCs, and LPs are adapting in real time.Peter shares Carta's inside view on:The comeback of deal flow and valuationsWhy down rounds are easing but hiring hasn't reboundedHow founder dilution and equity norms have shiftedThe rise of liquidity via secondaries and fund-to-fund capitalWhat signals matter most heading into 2026If you care about where venture is heading next — this is the episode.Follow the PodcastInstagram: https://www.instagram.com/venturecapitalfm/Twitter: https://twitter.com/vcpodcastfmLinkedIn: https://www.linkedin.com/company/venturecapitalfm/Spotify: https://open.spotify.com/show/7BQimY8NJ6cr617lqtRr7N?si=ftylo2qHQiCgmT9dfloD_g&nd=1&dlsi=7b868f1b72094351Apple: https://podcasts.apple.com/us/podcast/venture-capital/id1575351789Website: https://www.venturecapital.fm/Follow Jon BradshawLinkedIn: https://www.linkedin.com/in/mrbradshaw/Instagram: https://www.instagram.com/mrjonbradshaw/Twitter: https://twitter.com/mrjonbradshawFollow Peter HarrisLinkedIn: https://www.linkedin.com/in/peterharris1Twitter: https://twitter.com/thevcstudentInstagram: https://instagram.com/shodanpeteYoutube: https://www.youtube.com/@peterharris2812

With tensions mounting in British America over Parliament's Coercive Acts, colonists begin losing faith in King George III, while British soldiers march out of Boston to seize arms and ammunition in Lexington and Concord.  Featuring: Rick Atkinson, Fred Anderson, Wendy Bellion, Katherine Carté, Frank Cogliano, Brad Jones, and Andrew O'Shaughnessy. Voice Actors: Anne Fertig, Adam Smith, Evan McCormick, John Turner, John Winters, Grace Mallon, Peter Walker, Craig Gallager, Spencer McBride, and John Terry. Narrated by Dr. Jim Ambuske. Music by Artlist.io This episode was made possible with support from a 2024 grant from the National Endowment for the Humanities.  Help other listeners find the show by leaving a 5-Star Rating and Review on Apple, Spotify, Podchaser, or our website. Follow the series on Facebook or Instagram. Worlds Turned Upside Down is a production of the Roy Rosenzweig Center for History and New Media at George Mason University.

Looking to fund your startup? If you're new to the process, fundraising can be difficult to navigate. Not only are there a myriad of ways to go about it, but it can be hard to tell whether the tips, tricks, and advice floating around are based on any evidence at all.So, what is the truth? And what are the actual, data-backed insights that can help you choose the best method of fundraising for your own business?Enter: Peter Walker. As Head of Insights at Carta, he has access to, and industry knowledge about, the vast sets of funding data that will help you cut through the noise. Today, he joins Chris and Yaniv in discussing the real data behind startup funding trends in 2025 and the key takeaways you can apply to your own startups.In this episode, you will:Discover why Silicon Valley valuations often hurt founders more than they helpUnderstand how AI startups now account for nearly half of all venture funding, and what that means for non-AI foundersLearn how lean AI-driven teams are reshaping early-stage hiring, with Series A companies shrinking from 25 employees to just 15See why most founders misunderstand SAFE notesExplore why 70% of startup employees never exercise their equityUncover the reasons behind why nearly 40% of startups lose a co-founder within seven yearsGet clarity on founder vesting, equity splits, and why a six-year vesting schedule may protect your company better than fourReframe your goals as a founder: why chasing “life-changing money” isn't the right reason to start a companyThe Pact Honor the Startup Podcast Pact! If you have listened to TSP and gotten value from it, please:Follow, rate, and review us in your listening appSubscribe to the TSP Mailing List to gain access to exclusive newsletter-only content and early access to information on upcoming episodes: https://thestartuppodcast.beehiiv.com/subscribe Secure your official TSP merchandise at https://shop.tsp.show/  Follow us here on YouTube for full-video episodes: https://www.youtube.com/channel/UCNjm1MTdjysRRV07fSf0yGg Give us a public shout-out on LinkedIn or anywhere you have a social media followingKey linksGet your question in for our next Q&A episode: https://forms.gle/NZzgNWVLiFmwvFA2A The Startup Podcast website: https://www.tsp.show/episodes/Learn more about Chris and YanivWork 1:1 with Chris: http://chrissaad.com/advisory/  Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/  Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthurIntro Voice: Jeremiah Owyang https://web-strategist.com/

In another special solo episode, host Peter Walker tackles the most requested topic on The Data Minute: AI funding and valuations. Using data from Carta and Bessemer Venture Partners, Peter unpacks what's really happening inside the AI boom.He walks through five key charts that reveal where the capital is flowing, the massive valuation premiums AI-native companies command at Seed and Series A, and why San Francisco is still the undisputed center of the AI universe. Peter also breaks down Bessemer's new benchmarks for growth, "Supernovas" and "Shooting Stars", and explains the incredible speed at which top AI companies are reaching $100 million in revenue.This episode is a tactical guide for founders, explaining the new growth expectations in venture and the critical trade-off between speed and profitability.AI Fundraising Trends 2024:https://carta.com/data/ai-fundraising-trends-2024The State of AI 2025 - Bessemer Venture Partners:https://www.bvp.com/atlas/the-state-of-ai-2025Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/00:00 – Intro: A deep dive into AI funding and valuations00:50 – How capital is flowing into AI by stage01:34 – Why SF is the geographic center of AI02:23 – The 40% valuation premium for AI startups at Seed03:42 – The AI premium continues at Series A04:37 – The barbell effect: Mega-rounds at early stages05:07 – Bessemer's benchmarks: "Supernovas" vs. "Shooting Stars"06:11 – A new class of company: The growth of a "Shooting Star"07:22 – How quickly today's AI startups reach $100M ARR08:25 – Takeaway #1: The bar for growth has been raised for everyone08:54 – Takeaway #2: The trade-off between growth and profitability09:50 – Final thoughts for early-stage foundersThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved.

Special purpose vehicles are the biggest underworld in startups. They're creating more opportunity to invest in some of the biggest companies in the world. That doesn't mean they don't come with risk. Peter Walker from Carta gives us a full breakdown. 00:00 Too Good to Be True?  01:05 Deep Dive into SPVs  04:03 The Growth and Impact of SPVs  06:04 Understanding SPVs in Venture Capital  23:31 The AI Bubble and Its Implications  32:43 Will Startups Shut Down? 33:52 Hiring and Firing in Startups 39:09 Private Equity vs. Venture Capital 44:28 AI's Role in Business Strategy 55:03 Navigating Uncertainty and Capital Management 58:23 Concluding Thoughts and Advice for Entrepreneurs   Thanks for tuning in! Catch new episodes every Wednesday.  Subscribe to Topline Newsletter. Tune into Topline Podcast, the #1 podcast for founders, operators, and investors in B2B tech. Join the free Topline Slack channel to connect with 600+ revenue leaders to keep the conversation going beyond the podcast!

My fellow pro-growth/progress/abundance Up Wingers,In 1976, America celebrated 200 years of independence, democracy, and progress. Part of that celebration was the release of To Fly!, a short but powerful docudrama on the history of American flight. With To Fly!, Greg MacGillivray and his co-director Jim Freeman created one of the earliest IMAX films, bringing cinematography to new heights.After a decade of war and great social unrest, To Fly! celebrated the American identity and freedom to innovate. Today on Faster, Please! — The Podcast, I talk with MacGillivray about filming To Fly! and its enduring message of optimism.MacGillivray has produced and directed films for over 60 years. In that time, his production company has earned two Academy Award nominations, produced five of the Top 10 highest-grossing IMAX films, and has reached over 150 million viewers.In This Episode* The thrill of watching To Fly! (1:38)* An innovative filming process (8:25)* A “you can do it” movie (19:07)* Competing views of technology (25:50)Below is a lightly edited transcript of our conversation. The thrill of watching To Fly! (1:38)What Jim and I tried to do is put as many of the involving, experiential tricks into that film as we possibly could. We wrote the film based on all of these moments that we call “IMAX moments.”Pethokoukis: The film To Fly! premiered at the Smithsonian Air and Space Museum, at the IMAX Theater, July 1976. Do you happen know if it was it the 4th of July or. . . ?MacGillivray: No, you know, what they did is they had the opening on the 2nd of July so that it wouldn't conflict with the gigantic bicentennial on the 4th, but it was all part of the big celebration in Washington at that moment.I saw the film in the late '70s at what was then called the Great America Amusement Park in Gurnee, Illinois. I have a very clear memory of this, of going in there, sitting down, wondering why I was sitting and going to watch a movie as opposed to being on a roller coaster or some other ride — I've recently, a couple of times, re-watched the film — and I remember the opening segment with the balloonist, which was shot in a very familiar way. I have a very clear memory because when that screen opened up and that balloon took off, my stomach dropped.It was a film as a thrill ride, and upon rewatching it — I didn't think this as a 10-year-old or 11-year-old — but what it reminded me upon rewatching was of Henry V, Lawrence Olivier, 1944, where the film begins in the Globe Theater and as the film goes on, it opens up and expands into this huge technicolor extravaganza as the English versus the French. It reminds me of that. What was your reaction the first time you saw that movie, that film of yours you made with Jim Freeman, on the big screen where you could really get the full immersive effect?It gave me goosebumps. IMAX, at that time, was kind of unknown. The Smithsonian Air and Space Museum was the fourth IMAX theater built, and very few people had seen that system unless you visited world's fairs around the world. So we knew we had something that people were going to grasp a hold of and love because, like you said, it's a combination of film, and storytelling, and a roller coaster ride. You basically give yourself away to the screen and just go with it.What Jim and I tried to do is put as many of the involving, experiential tricks into that film as we possibly could. We wrote the film based on all of these moments that we call “IMAX moments.” We tried to put as many in there as we could, including the train coming straight at you and bashing right into the camera where the audience thinks it's going to get run over. Those kinds of moments on that gigantic screen with that wonderful 10 times, 35-millimeter clarity really moved the audience and I guess that's why they used it at Great America where you saw it.You mentioned the train and I remember a story from the era of silent film and the first time people saw a train on silent film, they jumped, people jumped because they thought the train was coming at them. Then, of course, we all kind of got used to it, and this just occurred to me, that film may have been the first time in 75 years that an audience had that reaction again, like they did with first with silent film where they thought the train was going to come out of the screen to To Fly! where, once again, your previous experience looking at a visual medium was not going to help you. This was something completely different and your sense perception was totally surprised by it.Yeah, it's true. Obviously we were copying that early train shot that started the cinema way back in probably 1896 or 1898. You ended up with To Fly! . . . we knew we had an opportunity because the Air and Space Museum, we felt, was going to be a huge smash hit. Everyone was interested in space right at that moment. Everyone was interested in flying right at that moment. Basically, as soon as it opened its doors, the Air and Space Museum became the number one museum in America, and I think it even passed the Louvre that year in attendance.Our film had over a million and a half people in its first year, which was astounding! And after that year of run, every museum in the world wanted an IMAX theater. Everyone heard about it. They started out charging 50 cents admission for the 27-minute IMAX film, and halfway through the season, they got embarrassed because they were making so much money. They reduced the admission price to 25 cents and everyone was happy. The film was so fun to watch and gave you information in a poetic way through the narration. The storytelling was simple and chronological. You could follow it even if you were a 10-year-old or an 85-year-old, and people just adored the movie. They wrote letters to the editor. The Washington Post called it the best film in the last 10 years, or something like that. Anyway, it was really a heady of time for IMAX.An innovative filming process (8:25)It was one of those things where our knowledge of technology and shooting all kinds of various films prior to that that used technology, we just basically poured everything into this one movie to try to prove the system, to try to show people what IMAX could do . . .I may have just read the Washington Post review that you mentioned. It was a Washington Post review from just three or four years later, so not that long after, and in the conclusion to that piece, it said, “You come away from the film remembering the flying, the freedom of it, the glee, the exaltation. No Wonder ‘To Fly' is a national monument.” So already calling it a national monument, but it took some innovation to create that monument. This isn't just a piece of great filmmaking and great storytelling, it's a piece of technological innovation. I wonder if you could tell me about that.We've worked with the IMAX corporation, particularly Graeme Ferguson, who is gone now, but he was a filmmaker and helped us immensely. Not only guiding, because he'd made a couple of IMAX films previously that just showed at individual theaters, but was a great filmmaker and we wanted three more cameras built—there was only one camera when we began, and we needed three, actually, so we could double shoot and triple shoot different scenes that were dangerous. They did that for us in record time. Then we had to build all these kind of imaginative camera mounts. A guy named Nelson Tyler, Tyler Camera Systems in Hollywood, helped us enormously. He was a close friend and basically built an IMAX camera mount for a helicopter that we called the “monster mount.” It was so huge.The IMAX camera was big and huge on its own, so it needed this huge mount, and it carried the IMAX camera flawlessly and smoothly through the air in a helicopter so that there weren't any bumps or jarring moments so the audience would not get disturbed but they would feel like they were a bird flying. You needed that smoothness because when you're sitting up close against that beautifully detailed screen, you don't want any jerk or you're going to want to close your eyes. It's going to be too nauseating to actually watch. So we knew we had to have flawlessly smooth and beautiful aerials shot in the best light of the day, right at dawn or right at sunset. The tricks that we used, the special camera mounts, we had two different camera mounts for helicopters, one for a Learjet, one for a biplane. We even had a balloon mount that went in the helium balloon that we set up at the beginning of the film.It was one of those things where our knowledge of technology and shooting all kinds of various films prior to that that used technology, we just basically poured everything into this one movie to try to prove the system, to try to show people what IMAX could do . . . There are quiet moments in the film that are very powerful, but there's also these basic thrill moments where the camera goes off over the edge of a cliff and your stomach kind of turns upside down a little bit. Some people had to close their eyes as they were watching so they wouldn't get nauseated, but that's really what we wanted. We wanted people to experience that bigness and that beauty. Basically the theme of the movie was taking off into the air was like the opening of a new eye.Essentially, you re-understood what the world was when aviation began, when the first balloonists took off or when the first airplane, the Wright Brothers, took off, or when we went into space, the change of perspective. And obviously IMAX is the ultimate change of perspectiveWhen I watched the entire film — I've watched it a few times since on YouTube, which I think somebody ripped from a laser disc or something — maybe six months ago, I had forgotten the space sequence. This movie came out a year before Star Wars, and I was looking at that space sequence and I thought, that's pretty good. I thought that really held up excellent. As a documentary, what prepared you to do that kind of sequence? Or was that something completely different that you really had to innovate to do?I had loved 2001: A Space Odyssey, the Kubrick film, and one of the special effects supervisors was Doug Trumbull. So we called Doug and said, “Look, I want to make the sequence. It's going to be short, but it's going to pay homage to space travel and what could happen in the future.” And he guided us a little bit, showed us how to make kind of the explosions of space that he'd done in 2001 using microscopic paint, so we had to develop a camera lens that fit on the IMAX camera that could shoot just a very small area, like half an inch across, where paint in a soluble mixture could then explode. We shot it in slow motion, and then we built a Starship, kind of like a Star Wars-looking — though, as you mentioned, Star Wars had not come out yet — kind of a spaceship that we then superimposed against planets that we photographed, Jupiter and Saturn. We tried to give the feeling and the perspective that that could give us with our poetic narrator, and it worked. It kind of worked, even though it was done on a very small budget. We had $690,000 to make that movie. So we only had one SAG actor who actually got paid the regular wage, that was Peter Walker.Was that the balloonist?Yeah, he was the balloonist. And he was a stage actor, so he was perfect, because I wanted something to obviously be a little bit overblown, make your gestures kind of comically big, and he was perfect for it. But we only had enough money to pay him for one day, so we went to Vermont and put him in the balloon basket, and we shot everything in one day. We never actually shot him flying. We shot him hanging in the balloon basket and the balloon basket was hanging from a crane that was out of the picture, and so we could lift him and make him swing past us and all that stuff, and he was terrific.Then we shot the real balloon, which was a helium balloon. We got the helium from the Navy — which would've been very costly, but they donated the helium — and went to West Virginia where the forest was basically uncut and had no power lines going through it so we could duplicate 1780 or whatever the year was with our aerial shooting. And we had a guy named Kurt Snelling, who was probably the best balloonist at that particular moment, and he dressed like Peter in the same costume and piloted the balloon across. And balloons, you can't tell where they're going, they just follow the wind, and so it was a little dangerous, but we got it all done. It was about a week and a half because we had to wait for weather. So we had a lot of weather days and bad rain in West Virginia when we shot that, but we got it all done, and it looks beautiful, and it matches in with Peter pretty well.Just what you've described there, it sounds like a lot: You're going to Maine, you're in West Virginia, you're getting helium from — it sounds like there were a lot of moving parts! Was this the most ambitious thing you had done up until that point?Well, we'd worked on some feature films before, like The Towering Inferno and Jonathan Livingston Seagull, and things like that, which were involved and very complicated. But yeah, it was very much the biggest production that we put together on our own, and it required us to learn how to produce in a big fashion. It was a thrill for us. Essentially, we had about 10 people working on the film in Laguna Beach, and none of them, except for maybe Jim and I, who we'd worked on feature films and complicated shoots with actors and all that, but a lot of our team hadn't. And so it was an adventure. Every day was a thrill.A “you can do it” movie (19:07). . . we were celebrating 200 years of democracy, of individual freedom, of individual inspiration, getting past obstacles, because you can do it — you have that belief that you can do it.There's a version of this podcast where we spend a half hour talking about The Towering Inferno. I just want you to know that it's very hard for me not to derail the conversation into talking about The Towering Inferno. I will not do that, but let me ask you this, the movie is about flight, it's about westward expansion, but that movie, it came out for the bicentennial, we'd gone through a tumultuous, let's say past 10 years: You had Vietnam, there's social unrest, you had Watergate. And the movie really must have just seemed like a breath of fresh air for people.As you put the movie together, and wrote it, and filmed it, did you feel like you were telling a message other than just about our connection with flight? It really seemed to me to be more than that, a movie about aspiration, and curiosity, and so forth.It was, and pretty much all of our films have been that positive spirit, “You can do it” kind of movie. Even our surfing films that we started with 20 years, maybe 10 years before To Fly!, you end up with that spirit of the human's ability to go beyond. And obviously celebrating the bicentennial and the beginning of democracy here in this country and the fact that we were celebrating 200 years of democracy, of individual freedom, of individual inspiration, getting past obstacles, because you can do it — you have that belief that you can do it.Of course, this was right there when everyone had felt, okay, we went to the moon, we did all kinds of great things. We were inventive and a lot of that spirit of invention, and curiosity, and accomplishment came from the fact that we were free as individuals to do it, to take risks. So I think To Fly! had a lot of that as part of it.But the interesting thing, I thought, was I had one meeting with Michael Collins, who was the director of the Air and Space Museum and the astronaut who circled the moon as Neil and Buzz Aldrin were on the moon walking around, and here he is, hoping that these two guys will come back to him so that the three of them can come back to Earth — but they'd never tested the blast-off from the moon's surface, and they didn't know 100 percent that it was going to work, and that was the weirdest feeling.But what Collins told me in my single meeting that I had with him, he said, “Look, I've got a half an hour for you, I'm building a museum, I've got two years to do it.” And I said, “Look, one thing I want to know is how much facts and figures do you want in this movie? We've got a little over a half an hour to do this film. The audience sits down in your theater, what do you want me to do?” And he said, “Give me fun. Give me the IMAX experience. I don't want any facts and figures. I don't want any dates. I don't want any names. I've got plenty of those everywhere else in the museum. People are going to be sick of dates and names. Give me fun, give me adventure.” And I said, “Oh gosh, we know how to do that because we started out making surfing films.” and he goes, “Do that. Make me a surfing film about aviation.” It was probably the best advice, because he said, “And I don't want to see you again for two years. Bring me back a film. I trust you. I've seen your films. Just go out and do it.” And that was probably the best management advice that I've ever received.So you weren't getting notes. I always hear about studios giving filmmakers notes. You did not get notes.The note I got was, “We love it. Put it on the screen now.” What they did do is they gave me 26 subjects. They said, “Here's the things that we think would be really cool in the movie. We know you can't use 26 things because that's like a minute per sequence, so you pick which of those 26 to stick in.” And I said, “What I'm going to do then is make it chronological so people will somewhat understand it, otherwise it's going to be confusing as heck.” And he said, “Great, you pick.” So I picked things that I knew I could do, and Jim, of course, was right there with me all the time.Then we had a wonderful advisor in Francis Thompson who at that time was an older filmmaker from New York who had done a lot of world's fair films, hadn't ever done IMAX, but he'd done triple-screen films and won an Academy Award with a film called To Be Alive! and he advised us. Graeme Ferguson, as I mentioned, advised us, but we selected the different sequences, probably ended up with 12 sequences, each of which we felt that we could handle on our meager budget.It was delightful that Conoco put up the money for the film as a public service. They wanted to be recognized in the bicentennial year, and they expected that the film was going to run for a year, and then of course today it's still running and it's going into its 50th year now. And so it's one of those things that was one of those feel-good moments of my life and feel-good moments for the Air and Space Museum, Michael Collins, for everyone involved.Competing views of technology (25:50)Our film was the feel-good, be proud to be an American and be proud to be a human being, and we're not messing up everything. There's a lot that's going right.When rewatching it, I was reminded of the 1982 film Koyaanisqatsi by Godfrey Reggio, which also had a very famous scene of a 747 looming at the camera. While yours was a joyous scene, I think we're supposed to take away an ominous message about technology in that film. That movie was not a celebration of flight or of technology. Have you wondered why just six years after To Fly!, this other film came out and conveyed a very different message about technology and society.I love Koyaanisqatsi, and in fact, we helped work on that. We did a lot of the aerial shooting for that.I did not know that.And Godfrey Reggio is an acquaintance, a friend. We tried to actually do a movie together for the new millennium, and that would've been pretty wild.Certainly a hypnotic film, no doubt. Fantastic.Yeah. But their thesis was, yeah, technology's gotten beyond us. It's kind of controlled us in some fashions. And with the time-lapse sequences and the basic frenetic aspects of life and war and things like that. And with no narration. That film lets the audience tell the story to themselves, guided by the visuals and the technique. Our film was absolutely a 100 percent positive that the 747 that we had was the number one 747 ever built. Boeing owned it. I don't think they'd started selling them, or they were just starting to use them. Everyone was amazed by the size of this airplane, and we got to bolt our IMAX camera on the bottom of it, and then it was such a thrill to take that big 747.The guy took off from Seattle and the pilot said, “Okay, now where do you want to go?” I said, “Well, I want to find clouds. And he goes, “Well, there's some clouds over next to Illinois. We could go there,” so we go two hours towards Illinois. And I'm in a 737 that they loaned us with the IMAX camera in a brand new window that we stuck in the side of the 737, just absolutely clear as the sheet of glass, just a single pane, and the camera's right up against that piece of plexiglass and with the 40-millimeter lens, which is a 90-degree lens.So I said, “We've got to fly the 737 really close to the 747 and through clouds so that the clouds are wisping through, and so the 747 is disappearing and then appearing and then disappearing and then appear, and we have to do this right at sunset in puffy clouds, these big cumulus clouds.” And so they said, “We can do that, let's go find it!” The two guys who were piloting were both military pilots, so they were used to flying in formation and it was a delight. We shot roll, after roll, after roll and got some of those moments where that 747 comes out into light after being in the white of the cloud are just stunning. So we made the 747 look almost like a miniature plane, except for the shot from underneath where you see the big wheels coming up. So it was a really cool, and I don't know what it cost Boeing to do that, but hundreds of thousands, maybe.Another public service.But they got it back. Obviously it was a heroic moment in the film, and their beautiful plane, which went on to sell many, many copies and was their hero airplane for so many years.Yeah, sure.It was a fun deal. So in comparison to Koyaanisqatsi, our film was the exact opposite. Our film was the feel-good, be proud to be an American and be proud to be a human being, and we're not messing up everything. There's a lot that's going right.I feel like there's a gap in what we get out of Hollywood, what we get out of the media. You don't want just feel-good films. You don't want just celebrations. You want the full range of our lives and of human experience, but I feel like, Koyaanisqatsi is about being out of balance, I think we've gotten out of balance. I just don't see much out there that has the kind of aspirational message with To Fly! I'm not sure what you think. I feel like we could use more of that.Yeah, I'm hopeful that I'm going to be able to make a movie called A Beautiful Life, which is all about the same thing that I was talking about, the freedom that the individual has here in America. I was hopeful to do it for the 250th anniversary, but I'm not going to get it done by that time next year. But I want to do that movie kind of as a musical celebration of almost a “family of man” sort of movie located around the world with various cultures and positive spirit. I'm an optimist, I'm a positive person. That's the joy I get out of life. I suppose that's why Jim and I were perfect to make To Fly! We infused beauty into everything that we tried to do.On sale everywhere The Conservative Futurist: How To Create the Sci-Fi World We Were PromisedMicro ReadsPlease check out the website or Substack app for the latest Up Wing economic, business, and tech news contained in this new edition of the newsletter. Lots of great stuff! Faster, Please! is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit fasterplease.substack.com/subscribe

In this special solo episode of The Data Minute, host Peter Walker dives into the data from Carta's latest research on the state of startup hiring. With hiring down month-over-month since 2021, Peter unpacks the trends that every founder, operator, and investor needs to understand.Using five key charts, Peter breaks down the current talent landscape: the shrinking gap between layoffs and voluntary departures, the reality of net headcount growth, and the "one in, one out" philosophy that's defining today's hiring environment. He also explores how these trends differ by industry and which roles are still in high demand.Is this slowdown a temporary blip or the new normal in an age of AI and hyper-efficiency? Get the data-driven answers in this can't-miss deep dive.State of Startup Compensation: H1 2025:https://carta.com/data/startup-compensation-h1-2025/Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/00:00 – Intro: A deep dive into startup hiring01:19 – Chart 1: Voluntary departures vs. layoffs02:28 – Why the current ratio is so unusual03:20 – Chart 2: New hires vs. total departures04:22 – Is the startup ecosystem shrinking?05:16 – Chart 3: Net headcount change over time05:56 – The "one in, one out" hiring philosophy06:38 – Chart 4: A breakdown of hiring trends by industry07:52 – Chart 5: Who is actually getting hired?08:17 – Is AI really replacing engineers? 08:54 – Final take: Why small, efficient teams are here to stayThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved.

How does Zack Polanski plan to get people talking about the Green party? Peter Walker reports. Help support our independent journalism at theguardian.com/infocus

In this episode of Tank Talks, Matt Cohen sits down with Peter Walker, Head of Insights at Carta, to explore the current state of the venture capital ecosystem and emerging startup trends. Peter shares his expertise on the challenges of navigating today's venture market, including how data-driven insights are shaping decision-making for both founders and investors.With his wealth of experience at Carta, Peter discusses the rise of down rounds, the impact of AI on valuations, and the complexities of stacking safes in early-stage fundraising. He also delves into the unique dynamics of later-stage companies, from unicorns struggling with inflated valuations to the evolving landscape of acquisitions and secondary markets.The conversation offers crucial insights on how investors are adapting to the changing market, and how founders should approach funding, cap table management, and navigating the growing emphasis on AI. Whether you're a founder, investor, or LP, this episode is packed with actionable takeaways on venture capital, startup growth, and the future of private tech companies.The Data Visualization Journey (00:03:25)Peter discusses his passion for data and how his experience with visualizing data led him to work on COVID tracking with The Atlantic.Joining Carta (00:06:25)Peter's transition to Carta and how his role as Head of Insights evolved into a data-driven strategy for the startup ecosystem.Navigating the 2025 Venture Reset (00:09:00)Peter breaks down the shifting dynamics in venture capital, including down rounds and how companies and investors should be preparing.Down Rounds & Valuation Insights (00:12:15)The challenges startups face with down rounds, and what data from Carta reveals about current market trends in startup valuations.The Impact of Safes on Founders (00:14:55)Why Peter believes founders are overusing SAFEs and the long-term consequences for cap tables and company growth.AI's Role in the Venture Landscape (00:17:47)Peter discusses how the AI boom is reshaping venture markets and influencing startup valuations, especially for non-AI companies.Bridge Rounds & the Evolution of Seed Funding (00:21:07)The rise of seed bridge rounds, preemptive funding, and defensive bridge rounds as VCs try to navigate uncertain valuations.Unicorns, Acquisitions & the Future of Late-Stage Companies (00:23:47)What happens to unicorns in a post-boom era, and how acquisitions and down rounds are playing out for companies with inflated valuations.Navigating Secondary Liquidity & Acquihires (00:30:24)A deep dive into secondary markets, acquihires, and the growing trend of liquidity for startups as the market matures.The Future of Venture Capital (00:33:46)Peter discusses his vision for venture capital in 2030, including the implications of rising AI investments and a more consolidated VC ecosystem.Founders and VCs in 2030 (00:37:08)Peter's predictions for the future of startup funding, with a focus on changing expectations, funding models, and talent acquisition.About Peter WalkerPeter Walker is the Head of Insights at Carta, where he leads data-driven research on startup trends and venture capital markets. With a strong background in data visualization, Peter has helped shape Carta's influential market reports, providing insights into valuations, equity distribution, and venture trends. Previously, he contributed to The Atlantic's COVID-19 tracking project, gaining recognition for his impactful visualizations. At Carta, Peter leverages data from over 45,000 startups to guide founders and investors in making informed decisions, focusing on cap table management and the evolving venture landscape, particularly the influence of AI. His expertise bridges data analytics and clear communication, helping navigate the challenges of raising capital and scaling startups today.Connect with Peter Walker on LinkedIn: https://www.linkedin.com/in/peterjameswalker/Visit the Carta website: https://carta.com/Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

Peter Walker from Carta drops the hard data every founder needs. Based on actual cap table data from 1000s of startups, this Q2 update reveals the brutal new reality.It takes 2+ years to go from seed to A (up from 1.6), you need 3X the revenue you used to, and if you're not AI, you're getting half the attention. But there's good news too—teams are finally getting leaner, exits are picking back up, and the worst of the funding winter might be behind us. If you're raising in 2025, this is your reality check.Why You Should Listen:$3M ARR is the new Series A bar—& it takes 1 in 4 founders 3.5+ years to get thereHalf as many seed deals are getting done but at 20% higher valuations—you're either in the AI club or you're outFounders own just 56% after their first priced round and only 10% by Series D—every round costs more than you thinkKeywords:Carta data, Series A requirements, startup fundraising 2025, seed to Series A timeline, ARR benchmarks, AI startup valuations, bridge rounds, founder dilution, startup team size, venture capital trendsSend me a message to let me know what you think!

As hundreds of thousands of people face starvation in Gaza, this week the foreign secretary, David Lammy, joined a chorus of global condemnation over Israel's actions, describing the killing of innocent civilians seeking food and water as grotesque. But when will his words be followed by action? John Harris speaks to the UN's special rapporteur on Palestine, Francesca Albanese. Plus, will the Tory reshuffle do anything to take the wind out of Nigel Farage's sails? The Guardian's senior political correspondent, Peter Walker, joins John to discuss. Help support our independent journalism at theguardian.com/politicspod

Windsurf grew fast, hit $82M in ARR, and was nearly acquired by OpenAI for $3 billion—until the deal collapsed. Google stepped in with a $2.4 billion offer, but only for 40 engineers.  In this episode, Sam, Asad, and AJ are joined by Peter Walker, Head of Insights at Carta, to break down what really happened and what this deal signals for the future of startup M&A. They explore how acqui-hires are evolving into talent-first extractions, what founders owe their teams in billion-dollar outcomes, and why equity might not mean what employees think it does. The crew also debates whether enterprise revenue is still reliable in AI startups, how employees can protect themselves in a shifting market, and whether we're already deep in another bubble. Thanks for tuning in! New episodes of Topline drop every Sunday and Thursday. Don't miss GTM2025 — the only B2B tech conference exclusively for GTM executives. Elevate your 2026 strategy and join us from September 23 to 25 in Washington, D.C. Use code TOPLINE for 10% off your GA ticket. Stay ahead with the latest industry developments and emerging go-to-market trends with Topline Newsletter by Asad Zaman. Subscribe today. Tune in to The Revenue Leadership Podcast every Wednesday, where host Kyle Norton talks with real revenue operators and dives deep into what it takes to succeed as a modern revenue leader. You're invited! Join the free Topline Slack channel to connect with 600+ revenue leaders, share insights, and keep the conversation going beyond the podcast! This episode is sponsored by UserEvidence. Want to know what actually moves the needle on trust? Download The Evidence Gap, a data-backed report on the customer proof that drives real results. Get it now at userevidence.com/evidence. Key chapters: (00:00) - Introduction to Topline Podcast (00:47) - The Windsurf Acquisition and Its Implications (12:39) - The State of Startups and Market Dynamics (23:55) - Employee Impact and Corporate Responsibility (36:08) - The Future of Startup Employment and Negotiation (46:04) - Venture Capital Trends and Market Outlook  

Emergency pod: Returning guest Peter Walker (Carta's Head of Insights) analyze the controversial Windsurf deal, where Google's acqui-hire left non-founder employees without equity payout. They unpack the deal, reference Character AI's precedent, and explore how AI-era deals increasingly prioritize top researchers over broader employee bases, fundamentally changing startup risk calculations*Email us your questions or topics for Kelli & Nolan: hrheretics@turpentine.coFor coaching and advising inquire at https://kellidragovich.com/HR Heretics is a podcast from Turpentine.Support HR Heretics Sponsors:Planful empowers teams just like yours to unlock the secrets of successful workforce planning. Use data-driven insights to develop accurate forecasts, close hiring gaps, and adjust talent acquisition plans collaboratively based on costs today and into the future. ✍️ Go to https://planful.com/heretics to see how you can transform your HR strategy.Metaview is the AI platform built for recruiting. Our suite of AI agents work across your hiring process to save time, boost decision quality, and elevate the candidate experience.Learn why team builders at 3,000+ cutting-edge companies like Brex, Deel, and Quora can't live without Metaview.It only takes minutes to get up and running. Check it out!KEEP UP WITH PETER, NOLAN + KELLI ON LINKEDINPeter: https://www.linkedin.com/in/peterjameswalker/Nolan: https://www.linkedin.com/in/nolan-church/Kelli: https://www.linkedin.com/in/kellidragovich/—RELATED LINKS:Windsurf's CEO goes to Google; OpenAI's acquisition falls aparthttps://techcrunch.com/2025/07/14/cognition-maker-of-the-ai-coding-agent-devin-acquires-windsurf/Carta:https://carta.com/—TIMESTAMPS:(00:00) Intro(00:52) Breaking News: The Windsurf Situation(01:12) The OpenAI-Microsoft IP Rights Drama(03:01) Plot Twist: Cognition's Counter-Offer(04:49) The Employee Equity Problem(06:00) Defending Against "That's How Deals Work" Critics(08:00) The Scarlet Letter Effect(10:00) Regulatory Background: The Lina Khan Era(12:00) Revealed Behavior: What This Shows About Values(13:25) Sponsors: Planful | Metaview(17:00) Talent vs. Product Separation(19:53) The AI Era's R&D Researcher Obsession(22:00) Unequal Distribution of Outcomes(23:28) What Comes Next: Evaluating Startup Risk(24:00) The Founder Psychology Bet(25:00) Equity Structure Solutions(28:58) Becoming AI Native: Personal Brand Strategy(30:56) The New Reality: Expecting Less Care This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hrheretics.substack.com

Is it true that founders should still own 50% of a company after a Series A fundraising round? Is 10% ownership at IPO a win or a loss? This episode delves into the topic of dilution, breaking down how much of your company you should sell at each stage, how to approach employee and advisor equity, and what employees should know about equity before taking a job. To answer these questions is Peter Walker, Head of Insights at Carta, and someone with a strong read on where the private tech market is headed. He and CJ also discuss when the best time to join a startup is and which cities outside of New York and San Francisco are desirable for people in this space. Peter shares insight into the state of the markets in 2025: What is happening with bridge rounds and down rounds, the odds of making it from seed to Series A, and the most telling statistic: AI funding.—LINKS:Peter Walker on LinkedIn: https://www.linkedin.com/in/peterjameswalker/Carta: https://carta.com/Carta's Founder Ownership Report 2025: https://carta.com/data/founder-ownership/Carta's published data reports: carta.com/dataCJ on X (@cjgustafson222): https://x.com/cjgustafson222Mostly metrics: http://mostlymetrics.com—TIMESTAMPS:(00:00) Preview and Intro(02:33) Sponsor – Pulley | Tropic | NetSuite(07:17) Head of Insights at Carta(09:32) The Users of Carta(12:20) Multiplayer Finance and Serving Both Sides(16:24) Sponsor – Planful | Tabs | Rippling Spend(20:15) Dilution: How Much Ownership You Should Give Up at Each Stage(23:02) What SAFEs Are(24:31) The Median Amount of Ownership for a Founding Team After the Series A(26:21) Should You Still Own 50% of the Company After Series A(27:18) Is 10% Ownership for a Founder at IPO Normal?(30:41) The Other Form of Dilution: Employee Equity Grants(34:25) What Employees Should Know About Equity Before Taking a Job(37:51) Why Equity Is Not Money(38:54) ISOs Versus RSUs(40:43) The Best and Worst Risk-Adjusted Time To Join a Startup(44:48) Remuneration by Location in Private Tech(47:39) Equity Comp by Location(48:43) Advisor Equity by Stage(51:28) Bridge Rounds Versus Down Rounds in the Last 6–12 Months(55:36) Survival Rates From Seed to Series A to Series B(57:36) The Best Time of Year To Fundraise(59:05) The Typical Age of a Startup When It's Acquired or It Exits(01:03:19) The State of the Market in 2025: AI Funding(01:06:18) Wrap—SPONSORS:Pulley is the cap table management platform built for CFOs and finance leaders who need reliable, audit-ready data and intuitive workflows, without the hidden fees or unreliable support. Switch in as little as 5 days and get 25% off your first year: pulley.com/mostlymetrics.Tropic is an intelligent spend management solution that consolidates your spend data and processes into one unified offering, enabling insights and decisive action. Take control of your spend with intelligent spend management at tropicapp.io/mostlymetrics.NetSuite is an AI-powered business management suite, encompassing ERP/Financials, CRM, and ecommerce for more than 41,000 customers. If you're looking for an ERP, head to https://netsuite.com/metrics and get the CFO's Guide to AI and Machine Learning.Planful's financial planning software can transform your FP&A function. Built for speed, accuracy, and confidence, you'll be planning your way to success and have time left over to actually put it to work. Find out more at www.planful.com/metrics.Tabs is a platform that brings all of your revenue-facing data and workflows - billing, AR, payments, rev rec, and reporting - onto a single system so you can automate and be more flexible. Find out more at: tabs.inc/metrics.Rippling Spend is a spend management software that gives you complete visibility and automated policy controls across every type of spend, saving you time and money. Get a demo to see how much time your org would save at rippling.com/metrics.#dilution #equity #stateofthemarket #privatetech #carta Get full access to Mostly metrics at www.mostlymetrics.com/subscribe

Carta just released their report for Q1 2025. Peter is Head of Insights at Carta, and the person who owns their data practice. We sit down to talk about the largest trends he saw across fundraising, industries, graduation rates and even hiring practices. Carta data shows that graduation rates from Seed to A are as low as they've ever been. Bridge rounds make you even less likely to raise an A. And why seed-strapping might be an answer for many founders. VCs read and understand all this data. If you want to operate on equal footing— you should too.Why you should listen:What the Series A gap is and what do about it.Learn what the latest data says on valuations for seed and early-stage companies, round sizes etc.Why bridges and extensions have become so popular. Why bridge rounds have lower graduation rates to Series A.Why you might not need to move to the Bay Area to raise large rounds.Keywordsventure capital, AI, fundraising, market trends, valuations, startup ecosystem, early stage, late stage, investment, venture capital, bridge rounds, seed extensions, startup growth, hiring practices, AI impact, early stage funding, market trends, valuations, exitsSend me a message to let me know what you think!

In this week's Espresso Martini, Chris and Matt dig into a wave of elections across the UK, Canada, and Australia, exploring what they signal for populist movements, center-left parties, and Trump-style politics beyond US borders. They break down the rise of Reform UK, growing concerns over Nigel Farage's influence, and why British voters seem caught in a cycle of backlash politics. Then, a pair of liberal wins in Canada and Australia suggest that even the faintest whiff of Trumpism remains a liability overseas. Finally, they dissect the demotion of Mike Waltz, explain why combining the roles of secretary of state and national security advisor is historically fraught, and ask whether the Trump White House has learned anything—or simply become more ruthless in its chaos. All that, plus Larry the Cat for PM, the specter of Musk in British politics, and an earnest thank-you to recent reviewers. Subscribe and share to stay ahead in the world of intelligence, geopolitics, and current affairs. Please share this episode using these links Audio: https://pod.fo/e/2d365f YouTube: https://youtu.be/fenomGCz6Ys Articles discussed in today's episode “Farage claims Reform UK local election gains ‘beginning of the end' for Tories" by Peter Walker, Eleni Courea, and Kiran Stacey | The Guardian: https://www.theguardian.com/politics/2025/may/02/farage-reform-uk-local-elections-beginning-of-the-end-for-tories "Does Farage own the future?" by Andrew Marr | The New Statesman: https://www.newstatesman.com/politics/uk-politics/2025/05/does-farage-own-the-future "First Canada, Now Australia: The Trump Factor Boosts Another World Leader in an Election" by Mike Cherney | The Wall Street Journal: https://www.wsj.com/world/first-canada-now-australia-the-trump-factor-boosts-another-world-leader-in-a-close-election-bef1c5a1 “Inside Mike Waltz's White House Exit" by Isaac Stanley-Becker, Ashley Parker, Jonathan Lemire & Shane Harris | The Atlantic: https://www.washingtonpost.com/politics/2025/05/03/waltz-trump-israel "Inside Waltz's ouster: Before Signalgate, talks with Israel angered Trump" by Michael Birnbaum, John Hudson, Emily Davies, Sarah Ellison & Natalie Allison | The Washington Post: https://www.theatlantic.com/politics/archive/2025/05/mike-waltz-trump-fired/682660 Support Secrets and Spies Become a “Friend of the Podcast” on Patreon for £3/$4: https://www.patreon.com/SecretsAndSpies Buy merchandise from our Redbubble shop: https://www.redbubble.com/shop/ap/60934996 Subscribe to our YouTube page: https://www.youtube.com/channel/UCDVB23lrHr3KFeXq4VU36dg For more information about the podcast, check out our website: https://secretsandspiespodcast.com Connect with us on social media Bluesky: https://bsky.app/profile/secretsandspies.bsky.social Instagram: https://instagram.com/secretsandspies Facebook: https://facebook.com/secretsandspies Spoutible: https://spoutible.com/SecretsAndSpies Follow Chris and Matt on Bluesky: https://bsky.app/profile/chriscarrfilm.bsky.social https://bsky.app/profile/mattfulton.net Secrets and Spies is produced by F & P LTD. Music by Andrew R. Bird Photos by Daniel Torok/White House Secrets and Spies sits at the intersection of intelligence, covert action, real-world espionage, and broader geopolitics in a way that is digestible but serious. Hosted by filmmaker Chris Carr and writer Matt Fulton, each episode unpacks global events through the lens of intelligence and geopolitics, featuring expert insights from former spies, authors, and analysts.

Months after the Boston Massacre, British Americans calling themselves "Regulators" launch a rebellion in western North Carolina that threatens to engulf the colony in revolution and civil war. Featuring: Abby Chandler, Marjoleine Kars, Cynthia Kierner, and Nathan Schultz. Voice Actors: Sarah Donelson, Evan McCormick, Norman Rodger, John Terry, and Peter Walker.  Narrated by Dr. Jim Ambuske. Music by Artlist.io This episode was made possible with support from a 2024 grant from the National Endowment of the Humanities.  Help other listeners find the show by leaving a 5-Star Rating and Review on Apple, Spotify, Podchaser, or our website. Follow the series on Facebook or Instagram. Worlds Turned Upside Down is a production of R2 Studios at the Roy Rosenzweig Center for History and New Media at George Mason University.

Labour was gambling on growth, but with stubbornly gloomy forecasts can they cut their way out of an economic hole? Peter Walker reports. Help support our independent journalism at theguardian.com/infocus

For Founders and Funders and those supporting the startup ecosystem, this episode was a kool convo around all things fundraising, founder journey, cap tables, dilution and more. For the chat with Peter of Carta, I am joined by Startup Guru Bobby Napiltonia, the Managing Partner @TheGTMFirm and former head of the AppExchange at @Salesforce and @Twilio's first CRO.  See https://www.thegtmfirm.com/ Subscribe and Share!

In this episode I sit down with Peter Walker, head of insights at Carta, to discuss the sweeping changes in how founders are building and funding startups in 2024. Peter shares fresh data on AI's outsized influence across every stage, why more founders are bootstrapping, and the real story behind down rounds and bridge rounds. We also dive into founder ownership trends, vesting schedules, and why hiring has slowed even as dry powder sits on the sidelines. If you're curious about where venture is headed, and how to navigate the current market, this deep dive offers plenty of practical takeaways.00:00:00 - Why 2024 Feels Different00:02:00 - Comparing 2024 to 2021 Boom00:03:58 - Why IPOs and AI Dominate Talk00:06:17 - Stage-by-Stage Funding Trends00:09:09 - Bridge Rounds & Down Rounds Return00:11:24 - Founder Ownership & Vesting00:14:17 - Solo Founders & AI Bootstrapping00:19:35 - Equity for Advisors & Early Hires00:22:50 - Safes, Valuation Caps & Dilution00:30:37 - Major Slowdown in Startup Hiring00:38:10 - Geographic Hubs: SF, NYC & Miami00:43:25 - Venture Funds Struggle With Returns00:59:22 - 2025 Outlook: IPOs & Efficiency01:02:03 - Closing Thoughts___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

Carta just released their report for Q4 2024. Peter is Head of Insights at Carta, and the person who owns their data practice. We sit down to talk about the largest trends he saw across fundraising, industries, graduation rates and even hiring practices. Carta data shows that graduation rates from Seed to A are much lower for companies that have raised a bridge round. We analyze why that might be and what that could mean for early-stage founders.VCs read and understand all this data. If you want to operate on equal footing— you should too.Why you should listen:The role of AI in the venture capital landscape.Why there are a trend of larger funding rounds going to fewer companies.Why so much capital is being allocated to AI companies.Valuations for seed and early-stage companies are on the rise.Why bridges and extensions have become so popular. Why bridge rounds have lower graduation rates to Series A.What the data shows about how hiring practices are changing.Keywordsventure capital, AI, fundraising, market trends, valuations, startup ecosystem, early stage, late stage, investment, venture capital, bridge rounds, seed extensions, startup growth, hiring practices, AI impact, early stage funding, market trends, valuations, exitsSend me a message to let me know what you think!

Welcome to FYI - For Your Innovation. In this episode, Brett Winton is joined by ARK's Chief Investment Strategist, Dr. Charles Roberts, ARK Venture Capital Research Associate, Chase Prather, and Peter Walker, Head of Insights at Carta, a leading platform for cap table management and venture data analysis. Together, they dive into the evolving venture capital landscape, discussing funding trends, challenges for startups, and the role of artificial intelligence in reshaping the industry.Key Points From This Episode:Introduction to Venture Capital Trends: Why early-stage and emerging managers are facing challenges amid a shifting funding environment.AI's Dominance in VC: The outsized role of artificial intelligence, with 30-50% of late-stage venture funding allocated to AI companies.Pareto Dynamics in Funding: How a few startups and funds are attracting the lion's share of investments while smaller players struggle to raise capital.Transparency Issues in Private Markets: The delayed realizations and opaque reporting practices in private funding cycles.Emerging Secondary Markets: The rise of secondary transactions as a liquidity option for late-stage private companies.The Changing Venture Lifecycle: Why traditional 10-year fund cycles are no longer a realistic benchmark in today's market.

In Episode 85 of Topline, Sam Jacobs and Asad Zaman welcome Peter Walker, Head of Insights at Carta, for a deep dive into the shifting landscape of venture capital and market trends. The discussion spans the resurgence of IPOs, the state of M&A activity, and how startups are adapting in a post-2021 economy. They explore the role of AI in reshaping growth strategies, the rising importance of capital efficiency, and the nuanced dynamics of late-stage funding. Topline by Pavilion is also proud to debut The Revenue Leadership Podcast with Kyle Norton. Listen now. Attention CEOs and Founders! Join Pavilion at the CEO Summit on January 23rd in vibrant New Orleans. Don't miss out—reserve your spot today! Want more Topline? Join the Topline Slack channel to engage with hosts, guests, and other listeners and subscribe to Topline Newsletter.

Peter Walker, Head of Insights at Carta, joins Nolan Church and Kelli Dragovich for a round 2 discussion to talk about the hidden currents reshaping the startup world.From the brutal reality of today's hiring landscape to the unexpected reasons top companies avoid IPOs, Walker challenges conventional wisdom, exploring how the "Big Stay" phenomenon and emerging equity models are redefining employee-company relationships. With startling data on fund performance and company shutdowns, this conversation poses a provocative question: Are we witnessing the end of the startup golden age, or the birth of a new, leaner ecosystem?*Email us your questions or topics for Kelli & Nolan: hrheretics@turpentine.coHR Heretics is a podcast from Turpentine.

Keir Starmer says cutting the universal winter fuel allowance for pensioners is a ‘tough decision' Labour has to take. But many of his MPs were not happy, as Peter Walker reports. Help support our independent journalism at theguardian.com/infocus

After a brutal defeat, the starting gun has been fired on the Tory leadership battle – but which faction will triumph? Kiran Stacey and Peter Walker report. Help support our independent journalism at theguardian.com/infocus

The Liberal Democrats began their campaign with eye-catching stunts, but it's tactical voting that may help them breach the blue wall. Peter Walker reports. Help support our independent journalism at theguardian.com/infocus