The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Sebastian Siemiatkowski is the co-founder and CEO of Klarna, the global digital bank with over 114 million global active users and 3.4 million transactions per day. Seb is one of the leading public company CEOs pushing the boundaries of AI. 
AGENDA:
04:50 — The Real Threat to SaaS is The Switching Cost Coming Down
05:57 — What revenue multiple will software companies trade at in the future?
14:12 — Why you need to build your own customer service AI to win
23:51 — Klarna has two times the customer base of Revolut. They will beat Revolut
25:39 — How I lost a billion dollars not investing in Nubank
30:57 — Why Nubank are more likely to win the US than Revolut?
34:28 — We used to be 6,000 people. Now we are just 3,000
39:58 — When is a high valuation too high and can be dangerous?
42:45 — How we got Sequoia to invest and Michael Moritz to join the board
53:14 — If you are an investor today that is not building then you're at a fundamental disadvantage
01:11:43 — I have changed my mind on the adoption cycle... I think it will take longer than people think
20VC: Is SaaS Dead: Klarna Replaces 1,500 Internal SaaS Products | Why Systems of Record Will Die in an Agentic World | What Revenue Multiple Will Software Companies Trade At? | From 7,000 to 3,000: We Need Less People Than Ever with Sebastian Siemiatkowski

Carles Reina is VP of Sales at ElevenLabs, where he was the first investor and fourth employee. Carles has scaled the revenue org from Day 1 to over $330M in just 3 years. Carles is also an active investor with investments in ElevenLabs, Revolut, Happy Robot and more.  
AGENDA:
0:00 How I Turned $20K into $16M with Revolut Angel Investment
10:45 Why I Don't Believe in Product-Market Fit
15:40 How to do Land and Expand: Turning $12K Deals into Millions
19:40 The 20X Rule: A "Ruthless" Comp Plan for Elite Reps
24:35 Public Shaming? Why Honest Pipeline Reviews Save Companies
28:50 Why Your Sales Reps Should Never Be in the Office
35:45 The Outbound King: How to Pivot from 90% Inbound
45:45 "Vibe Coding" & The Death of Technical Ceilings
55:35 Why I'd Fire Myself: The Secret Psychology of High-Performers

AGENDA:
03:43 Anthropic Predicts $149B in ARR in 2029
09:27 Will FDEs Become More or Less Powerful
26:17 Harvey Raises $200M at an $11BN Valuation
42:45 Is Customer Support a Terrible or Terrific Investment Category
56:14 Anthropic's Superbowl Ad: Who Won and Who Lost
01:11:30 Do CEOs Have to Work Harder Today Than Ever

Anish Acharya is a General Partner at Andreessen Horowitz (a16z), where he leads consumer and fintech investing at Series A. He serves on the boards of standout portfolio companies including Deel, Mosaic, Clutch, Titan, and HappyRobot and has led early bets in companies like Runway and Carbonated. Before a16z, he founded and exited two startups—Snowball (acquired by Credit Karma) and SocialDeck (acquired by Google) and scaled Credit Karma's U.S. Card business to over 100 million members.
AGENDA:
00:03 - Why building an AI company today requires being in San Francisco
06:58 - The "SaaS Apocalypse" myth: Why "vibe coding" everything is a lie
09:11 - How AI agents are finally breaking the lock-in of legacy software providers
10:13 - Incumbents vs. Startups: Who actually wins the AI distribution war?
14:39 - Why the developer tool market looks more like Cloud than Uber and Lyft
22:43 - The death of the Chatbox? Why browse-based interfaces are still preferable
27:14 - Why power users are 10x more valuable in the age of AI consumption
28:36 - Do margins matter in a world of AI?
34:46 - Why we are definitively not in an AI bubble right now
38:58 - Why the Legal and Customer Support industries will have dozens of winners
39:44 - Lessons from Marc Andreessen: Why the "quality of being right" supersedes process
44:51 - Is "Triple, Triple, Double, Double" dead? The new physics of growth
01:10:41 - The a16z Playbook: How to win 100% of the deals you chase

Ariel Cohen is the Co-Founder and CEO of Navan (formerly TripActions), an AI-powered travel and expense platform. Last month, Ariel took the company public, since being a public company, they have faced a torrid time seeing stock price decline by 50%. The company is currently valued between $4BN-$5BN. 
AGENDA:
0:00 The Truth About Going Public After 11 Years
5:50 Why We Couldn't Wait: The Real Reason for the IPO
8:15 Disrupting the Giants: Amex, Concur, and the $1T Opportunity
11:50 "If We Don't Build This, We're Dead": Seeing ChatGPT Early
18:35 Why Navan Built Their Own Customer Service AI 
23:45 Why Infrastructure is Overrated (and What Actually Matters)
28:55 Vibe Coding: How We Rebuilt Our Product in 6 Hours
34:55 Are Any Public Company CEOs Actually Happy?
38:50 Lessons from Robinhood: Energy, Ethics, and the Stock Price
45:10 The Cost of Success: $1B Mistakes and Parenting Regrets