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

Alexander Embiricos is the Head of Codex at OpenAI, leading the development of the company's flagship AI coding systems that power automated software generation, debugging and developer workflows. Under his leadership, Codex has become one of the most widely adopted AI developer platforms. 
AGENDA:
05:13 Will Coding Be Automated? Why AI Could Create More Engineers, Not Fewer
07:17 Do We Need PMs? The "Undefined" Product Role and When It Matters
08:06 The Real AGI Bottleneck: Human Prompting, Validation, and "Too Much Effort"
13:04 Three Phases of Agents: Coding → Computer Use → Productized Workflows
13:52 Enterprise Reality Check: Security, Permissions, and Safe Agentic Browsing
17:57 Is Inference the New Sales and Marketing? 
18:49 What % of Codex Was Written by AI?
21:33 Do OpenAI Use AI for Code Review?
23:31 Is there any stickiness to AI coding tools?
28:22 What Does "Winning" Mean at OpenAI? Mission, Competition, and Moats
32:04 The Future UI: Chat or Voice
34:10 Agent-to-Agent Workflows: Designing for Approvals, Compliance, and Automation
35:39 Do Coding Models Have a Data Moat?
36:50 How does Codex View Data: Will They Build Their Own Mercor and Turing?
37:27 How Does Codex View Consumer: Will They Compete with Lovable?
41:56 Benchmarks vs "Vibes": How People Actually Judge Models
42:43 Cursor's Edge and the Case for Building Your Own Models
47:37 Is SaaS Dead? What Still Defends Value (Humans + Systems of Record)
51:28 Talent Wars and Career Advice for New Engineers in the AI Era
01:01:03 Guardrails, the Fully AI-Managed Stack, and a 10-Year Vision for Everyone

AGENDA:
04:14 Anthropic's $30B Raise at $380B
06:18 Why SaaS Stocks Keep Getting Crushed
18:15 Wall Street's New Religion: AI Replaces Headcount 
22:42 The Bear Case for Shopify: What Could Go Wrong?
31:51 Replit and Lovable are Proof Figma Missed Out: Figma; Buy or Sell? 
48:42 Stripe Raises at $140BN: Is Stripe Wildly Overvalued or Adyen Undervalued? 
54:36 OpenAI Buys OpenClaw
01:06:28 Thrive's $10B Growth Fund
01:09:10 Arif Janmohamed Leaves Lightspeed for New Firm
01:17:12 Workday's Founder Returns as CEO: Will it Work? 
01:20:34 Which Founder Returns Next: HubSpot, Twilio, Gitlab?
01:24:03 Is Monday.com a Screaming Buy?
01:28:25 Jason and Harry Bet $200,000

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