Waymo

Who Wins in the Next Decade of VC | Margin and Price Matter Less in a World of AI | Sameer Dholakia

Oct 19, 2026 · 1:19:51

20VC's Harry Stebbings hosts Bessemer partner Sameer Dholakia, who argues AI is a bigger supercycle than cloud and the internet, with intelligence a bigger market than oil. He recounts Bessemer's Anthropic Series D at $15B pre-money—the firm's lowest-voted deal ever—plus bull cases for Legora at $1.8B and Fireworks at $250B, holding that open and closed models both win. He contends capital is a moat, T2D3 growth is no longer enough, and defends 10-15x NTM entry multiples. He explains Bessemer's new $5.75B funds ($1.75B seed, $4B growth), why 5x returns remain possible, and why venture is splitting into mega-platforms or specialists. He predicts companies will stay private longer with an IPO unlock next year and in 2028, and credits SendGrid's 'teammates beat colleagues' culture.

Jensen Huang Declares AGI Has Arrived | Tesla Launches Cybercabs | Index Pulls Out of Town

Sep 10, 2026 · 1:22:31

Rory O'Driscoll of Scale and Jason Lemkin tell Harry Stebbings that Jensen Huang's AGI declaration is a 'bullshit term' since only coding matters, while the AI assistant race between Instinct, Grok Bot and Meta hinges on distribution. They debate whether legal AI firms Harvey and Legora can match coding AI — Rory pegs legal's AI take at 10–15% versus 30–50% in coding — and warn goal-seeking agents, as in OpenAI's undisclosed DSC Wiki incident, pose a cybersecurity crisis. They assess Tesla's Cybercab as a Waymo rival, Index exiting Town's round after Instinct objected, and Anthropic abandoning its $6 billion Descartes deal. They close on Robinhood underwriting Aura's IPO, Wonderful's $5 billion raise with $170 million in secondary, and Thinking Machines' $40 billion valuation.

Uber President on Travis, China & Self-Driving | Why Autonomy Is Existential | How to Beat DoorDash

Aug 17, 2026 · 1:09:44

In a rare interview, Uber President and COO Andrew Macdonald tells 20VC host Harry Stebbings that autonomy is existential for ride-hailing and distribution beats superior technology. He says Uber One is the most efficient long-term lever — membership beats price incentives — and admits he was wrong to resist it. On AI, Uber blew through a year's budget in four months because usage is vertical; ROI is real but hard to quantify, so he advises combining compute and headcount budgets. Recounting Uber China, Uber burned $52 million a week on subsidies before exiting to Didi, a deal he calls successful. He also explains the Delivery Hero acquisition, why Uber Eats trails DoorDash, and leadership lessons from Travis Kalanick and Dara Khosrowshahi.