Marc Andreessen & Jack Altman: Venture Capital, AI, & Media
a16z Podcast11 Kesä

Marc Andreessen & Jack Altman: Venture Capital, AI, & Media

In this episode Jack Altman, CEO of Lattice and host of Uncapped, interviews Marc Andreessen on how venture capital is evolving — from small seed funds to billion-dollar barbell strategies — and why today’s most important tech companies don’t just build tools, they replace entire industries. They cover:

  • The end of “picks and shovels” investing
  • Why missing a great company matters more than backing a bad one
  • The power law math behind fund size and asymmetric returns
  • AI as the next computing platform — and a test for Western civilization
  • Preference falsification, media power, and what founders can’t say out loud

This is a conversation about ambition at scale, the structure of modern venture, and the deep forces reshaping startups, innovation, and power.

Resources:

Listen to more from Uncapped: https://linktr.ee/uncappedpod

Find Jack on Xhttps://x.com/jaltma

Find Marc on X: https://x.com/pmarca

Find Uncapped on X: https://x.com/uncapped_pod

Timecodes:
00:00 What You Can’t Say

01:20 Founders, Funders, and the Future

02:00 Fund Size and Power Law Math

06:45 From Tools to Full Stack Startups

10:00 Market Sizing and Asymmetric Bets

13:00 Public Markets Mirror Venture Dynamics

17:00 The Barbell Strategy in Venture

20:00 The Conflict Dilemma in Venture

25:00 Staying in Early-Stage Venture

29:30 The Death of the Middle

32:00 Why It’s So Rare to Build a New Top VC Firm

35:00 The Case for Power in Venture

37:45 Limiting Factors for Big Companies

41:00 AI as the Next Computing Platform

45:30 Betting on Startups, Not Incumbents

48:00 How a16z Thinks About Risk

51:00 Building a Top-Tier GP Team

55:00 Taste, Timing, and Getting Into the Scene

57:00 Raising Capital Is the Easy Part

1:00:30 AI’s Existential Stakes

1:05:00 Autonomous Weapons, Ethics, and War

1:11:00 Tech, Government, and Power

1:13:00 Media, Mistrust, and Narrative Collapse

1:24:00 Preference Falsification and Cultural Cascades

1:32:00 The Thought Experiment

1:33:00 Career Advice for Young Builders

1:35:00 Marc vs. the Huberman Protocol

1:39:30 What Would Prove You Right?

Stay Updated:

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Of Container Ships, Supply Chains, and Retail

Of Container Ships, Supply Chains, and Retail

This podcast rerun -- first recorded over two and a half years ago, now being rerun as one of our evergreen classics on the tails of the world's largest designated shopping days (Black Friday, Singles Day in China, Prime Day online, and so on) -- is ALL about the container ship. Also known as "The Box", with author Marc Levinson (in conversation with Sonal Chokshi and Hanne Tidnam). But this episode is really about connecting the dots between logistics, transportation, infrastructure, and much more.What do we make of the so-called "death of retail", especially when seen through the retail history of the once-largest retailer in the world? How are supply chains changing today? One thing's for sure: the shipping container made the world much smaller... and the world much economy bigger. image: Kevin Talec / Flickr

3 Joulu 201933min

Nursing Today, From the Bedside and Beyond

Nursing Today, From the Bedside and Beyond

"Constant attention by a good nurse may be just as important as a major operation by a surgeon”, diplomat Dag Hammarskjöld once observed -- and that may be more true today than ever before. For most of us, nurses are essentially the face of the healthcare system: the person you’ll see the most of while you’re in it, who will monitor your vitals, administer medications, hold your hand when you’re in pain or scared, answer all the questions you forgot to ask the doctor.So in this episode, we take a look at the role of that unsung hero of healthcare -- the nurse -- at an industry level. Iman Abuzeid, CEO and co-founder of Incredible Health (a hiring platform for nurses), and a16z general partners Julie Yoo and Jeff Jordan discuss with Hanne Tidnam how the scope of the job is changing today and why; what’s driving the looming nursing shortage crisis, and ways we can help solve it; what it’s like to build a new marketplace platform in healthcare; and how best to introduce innovation into the healthcare system overall.

28 Marras 201932min

How We Podcast

How We Podcast

"Hi everyone, welcome to the a16z Podcast..." ... and welcome to our 500th episode, where, for the first time, we reveal behind-the-scenes details and the backstory of how we built this show, and the broader editorial operation. [You can also listen to episode 499, with head of marketing Margit Wennmachers, on building the a16z brand, here.]We've talked a lot about the podcasting industry, and even done podcasts about podcasting, so for this special episode, editor-in-chief and showrunner Sonal Chokshi reveals the how, what, and why in conversation with a16z general partner (and guest-host for this special episode) podcasting fan Connie Chan. We also answer some frequently asked questions that we often get (and recently got via Twitter), such as:how we program podcastswhat's the process, from ideas to publishingdo we edit them and how!do guests prep, do we have a scripttechnical stack...and much more. In fact, much of the conversation goes beyond the a16z Podcast and towards Sonal's broader principles of 'editorial content marketing', which hopefully helps those thinking about their own content operations and podcasts, too. Including where podcasting may be going.Finally, we share some unexpected moments, and lessons learned along the way; our positions on "tics", swear-words, and talking too fast; failed experiments, and new directions. But most importantly, we share some of the people behind the scenes who help make the a16z Podcast what it was, is, and can be... with thanks most of all to *you*, our wonderful fans!

27 Marras 201947min

Brand Building Ideas… and People

Brand Building Ideas… and People

Many technical founders, academics, and other experts often believe that great products -- or great ideas! -- sell themselves, without any extra effort or marketing. But in reality, they often need PR (public relations).The irony is, most of the work involved in PR is actually invisible to the public -- when it works, that is -- and therefore hard for those from the outside to see let alone understand. So how does such brand-building really work? In this 10-year anniversary episode of the a16z Podcast (and our 499th episode), a16z operating partner Margit Wennmachers shares the case study of her work at The Outcast Agency (which she co-founded) and of building the a16z brand (where she heads marketing and was the first and one of the earliest hires).What's the backstory there? What's the backstory behind some of the most popular media stories and op-eds -- like "software is eating the world" -- and what can it teach us about how PR and brand-building works in practice? Because -- like many software companies -- the product is so abstract, and not something you can physically touch, what kind of subtle decisions and tactics big and small does it take? Answering some frequently asked questions (in conversation with editor in chief Sonal Chokshi) that we often get around how things work, Wennmachers reveals (just some;) of the details behind the scenes. Given that technology is all about disintermediating "brokers" in the middle, will tech one day replace PR? And finally, what's the hidden Silicon Valley network mafia that NO one talks about?

20 Marras 201935min

Come for the Games, Stay for the Party

Come for the Games, Stay for the Party

The games industry is in the midst of a tectonic shift. Powered by platform convergence, games-as-a-service, and user-generated content, modern video games—what we call next-generation games—are unlike anything we've seen before. In the past decade, gaming has grown from a niche hobby into a global, culture-defining phenomenon.Not only are the games themselves becoming increasingly immersive, the way we develop and discover them has fundamentally changed. In contrast to the hits-driven business model of the past, now games are shaped in real time by player feedback. And thanks to the rise of influencer gamers, the experience of finding new games has become organic and social.In this episode, a16z general partner Andrew Chen, deal partner Jon Lai, and host Lauren Murrow discuss how gaming is dominating not only the entertainment industry, but also pop culture at large. (Why can't we quit you, Untitled Goose Game?!) Andrew and Jon share how they think about emerging technologies in the space, as well as the features they look for in next-gen games and game developers.

2 Marras 201922min

AI in B2B

AI in B2B

Consumer software may have adopted and incorporated AI ahead of enterprise software, where the data is more proprietary, and the market is a few thousand companies not hundreds of millions of smartphone users. But recently AI has found its way into B2B, and it is rapidly transforming how we work and the software we use, across all industries and organizational functions. In this episode, Das Rush interviews Oleg Rogynskyy, founder of People.ai, an AI platform for sales and marketers, and Peter Lauten from the a16z Enterprise investing team about what the rise AI in B2B means for enterprises, workers, and startups. They explain why AI provides a strong first mover advantage to enterprises that adopt it early; how it can automate lower level tasks, maximize our focus, and, ultimately, make our work more meaningful; and for startups, they provide a playbook for seizing the next AI opportunity.

24 Loka 201924min

Free Software and Open Source Business

Free Software and Open Source Business

Today, despite the critical importance of open source to software, it’s still seen by some as blasphemous to make money as an open source business. In this podcast, Armon Dadgar, Cofounder and CTO of HashiCorp; Ali Ghodsi, CEO of Databricks; and a16z General Partner Peter Levine explain why it's necessary to turn some open source projects into businesses.They also cover the most important questions for open source leaders to answer: How do you keep community engaged while building a business? What new opportunities does SaaS (software-as-a-service) present? And if you are a SaaS business, how should you approach cloud service companies, like Amazon Web Services (AWS)?

21 Loka 201935min

Of Emojis and Innovation

Of Emojis and Innovation

This rerun podcast (first recorded in 2015, now being rerun as one of our evergreen classics/ favorites) -- is ALL about emoji. But it's really about how innovation really comes about: through the tension between open standards vs. closed/ proprietary systems; the politics of time and place; and the economics of creativity, from making to funding.So yes, this podcast is all about emoji. But it's also about where emoji fits in the taxonomy of social communication, and why that matters -- from making emotions machine-readable to being able to add "limbic" visual expression to our world of text. And if emoji is a language, why can't we translate it; why so ambiguous?? How do emojis work, both technically underneath the hood... and in the (committee) Room Where It Happens?Joining this episode are former VP of Data at Kickstarter Fred Benenson (and the man behind 'Emoji Dick'); and former New York Times reporter and current Unicode Emoji subcommittee vice-chair, Jennifer 8. Lee (and one of the women behind the dumpling emoji) -- in conversation with Sonal Chokshi.image: Yiying Lu (@yiyinglu)

15 Loka 201938min

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