The Hidden Economics Powering AI
In this episode, Jen Kha, Head of Investor Relations, and David George, General Partner, discuss how late-stage private markets are evolving as AI reshapes scale, capital intensity, and growth timelines. They explain why AI-driven companies are staying private longer, how infrastructure spending is changing return profiles, and what this moment means for durability, value creation, and long-term outcomes in private markets.Timecodes:0:00 — Introduction04:21 — The Market Opportunity for AI26:48 — Pricing, Monetization, and Cash Burn43:15 — Companies Staying Private Longer51:30 — Portfolio Composition and Construction57:18 — Team Culture and Collaboration Resources:Follow Jen Kha on X: https://x.com/jkhamehlFollow David George on X: https://x.com/DavidGeorge83 Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergNot an offer or solicitation. None of the information herein should be taken as investment advice; Some of the companies mentioned are portfolio companies of a16z. Please see https://a16z.com/disclosures/ for more information. A list of investments made by a16z is available at https://a16z.com/portfolio. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
26 Jan 1h 4min
How Mintlify Is Rebuilding Documentation for Coding Agents
Mintlify is a documentation platform built by cofounders Han Wang and Hahnbee Lee to help teams create and maintain developer docs. In this episode, Andreessen Horowitz general partners Jennifer Li and Yoko Li speak with Han and Hahnbee about how coding agents are changing what “good docs” mean, shifting documentation from a human-only resource into infrastructure that powers AI tools, support agents, and internal knowledge workflows. They share Mintlify’s early journey, including eight pivots, the two-day prototype that landed their first customer, and the “do things that don’t scale” sales motion that helped them win early traction. The conversation also covers why docs go out of date, what “self-healing” documentation requires to actually work, and how serving fast-moving customers has shaped both their product priorities and their pace.Follow Jennifer Li on X: https://twitter.com/JenniferHliFollow Yoko Li on X: https://twitter.com/stuffyokodrawsFollow Han Wang on X: https://twitter.com/handotdevFollow Hahnbee Lee on X: https://twitter.com/hahnbeelee Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
23 Jan 44min
Inferact: Building the Infrastructure That Runs Modern AI
Inferact is a new AI infrastructure company founded by the creators and core maintainers of vLLM. Its mission is to build a universal, open-source inference layer that makes large AI models faster, cheaper, and more reliable to run across any hardware, model architecture, or deployment environment. Together, they broke down how modern AI models are actually run in production, why “inference” has quietly become one of the hardest problems in AI infrastructure, and how the open-source project vLLM emerged to solve it. The conversation also looked at why the vLLM team started Inferact and their vision for a universal inference layer that can run any model, on any chip, efficiently.Follow Matt Bornstein on X: https://twitter.com/BornsteinMattFollow Simon Mo on X: https://twitter.com/simon_mo_Follow Woosuk Kwon on X: https://twitter.com/woosuk_kFollow vLLM on X: https://twitter.com/vllm_project Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
22 Jan 43min
Martin Casado on the Demand Forces Behind AI
In this feed drop from The Six Five Pod, a16z General Partner Martin Casado discusses how AI is changing infrastructure, software, and enterprise purchasing. He explains why current constraints are driven less by technical limits and more by regulation, particularly around power, data centers, and compute expansion.The episode also covers how AI is affecting software development, lowering the barrier to coding without eliminating the need for experienced engineers, and how agent-driven tools may shift infrastructure decision-making away from humans.Watch more from Six Five Media: https://www.youtube.com/@SixFiveMedia Resources:Follow Martin Casado on X: https://twitter.com/martin_casado Follow Patrick Moorhead on X: https://twitter.com/PatrickMoorheadFollow Daniel Newman on X: https://twitter.com/danielnewmanUV Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease 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 http://a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
21 Jan 27min
From Code Search to AI Agents: Inside Sourcegraph's Transformation with CTO Beyang Liu
Sourcegraph's CTO just revealed why 90% of his code now comes from agents—and why the Chinese models powering America's AI future should terrify Washington. While Silicon Valley obsesses over AGI apocalypse scenarios, Beyang Liu's team discovered something darker: every competitive open-source coding model they tested traces back to Chinese labs, and US companies have gone silent after releasing Llama 3. The regulatory fear that killed American open-source development isn't hypothetical anymore—it's already handed the infrastructure layer of the AI revolution to Beijing, one fine-tuned model at a time. Resources:Follow Beyang Liu on X: https://x.com/beyangFollow Martin Casado on X: https://x.com/martin_casadoFollow Guido Appenzeller on X: https://x.com/appenz Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://x.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://x.com/eriktorenbergPlease 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 http://a16z.com/disclosures. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
20 Jan 46min
The AI Opportunity That Goes Beyond Models
The a16z AI Apps team outlines how they are thinking about the AI application cycle and why they believe it represents the largest and fastest product shift in software to date. The conversation places AI in the context of prior platform waves, from PCs to cloud to mobile, and examines where adoption is already translating into real enterprise usage and revenue. They walk through three core investment themes: existing software categories becoming AI-native, new categories where software directly replaces labor, and applications built around proprietary data and closed-loop workflows. Using portfolio examples, the discussion shows how these models play out in practice and why defensibility, workflow ownership, and data moats matter more than novelty as AI applications scale. Resources:Follow Alex Rampell on X: https://twitter.com/arampellFollow Jen Kha on X: https://twitter.com/jkhamehlFollow David Haber on X: https://twitter.com/dhaberFollow Anish Acharya on X: https://twitter.com/illscience Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Not an offer or solicitation. None of the information herein should be taken as investment advice; Some of the companies mentioned are portfolio companies of a16z. Please see https://a16z.com/disclosures/ for more information. A list of investments made by a16z is available at https://a16z.com/portfolio. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
19 Jan 1h 10min
How Foundation Models Evolved: A PhD Journey Through AI's Breakthrough Era
The Stanford PhD who built DSPy thought he was just creating better prompts—until he realized he'd accidentally invented a new paradigm that makes LLMs actually programmable. While everyone obsesses over whether LLMs will get us to AGI, Omar Khattab is solving a more urgent problem: the gap between what you want AI to do and your ability to tell it, the absence of a real programming language for intent. He argues the entire field has been approaching this backwards, treating natural language prompts as the interface when we actually need something between imperative code and pure English, and the implications could determine whether AI systems remain unpredictable black boxes or become the reliable infrastructure layer everyone's betting on. Follow Omar Khattab on X: https://x.com/lateinteractionFollow Martin Casado on X: https://x.com/martin_casadoCheck out everything a16z is doing with artificial intelligence here, including articles, projects, and more podcasts. 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. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
16 Jan 57min
Ben & Marc: Why Everything Is About to Get 10x Bigger
a16z cofounders Marc Andreessen and Ben Horowitz join a16z general partner Erik Torenberg and Not Boring founder Packy McCormick for a conversation on how the media and information ecosystem has changed over the past decade. The discussion breaks down the shift toward a more open and decentralized speech environment, the rise of writer- and creator-led platforms like Substack, and the erosion of centralized media gatekeepers. Marc and Ben also tie these dynamics to their investing worldview, outlining how supply-driven markets, major technological step changes, and reputation-driven venture platforms shape outcomes in the AI era.Timecodes: 00:00 Introduction00:46 How the media ecosystem is changing4:20 Why a16z invested in Substack6:28 Supply-driven markets and new content creation8:07 Why writers felt trapped by media companies10:09 Databricks and the 10x cloud multiplier13:58 Long-form podcasting proves demand15:40 What the new fund signals about the future16:24 AI as a universal problem solver18:49 Why market sizing is broken20:45 Go-to-market, policy, and platform power22:37 Turning inventors into confident CEOs25:58 Borrowing power to scale faster27:29 Building dreamers, not killing dreams30:46 Reputation as a core competitive advantage35:57 Taking arrows in public38:56 Avoiding big company failure modes40:39 Autonomous teams inside a16z41:54 Venture capital as the last job46:01 Why intangibles matter more than ever48:17 Original thinkers with charisma50:06 Why Zoomers are differentResources: https://www.notboring.co/p/a16z-the-power-brokershttps://www.a16z.news/p/firm-fundFollow Marc Andreessen on X: https://twitter.com/pmarcaFollow Ben Horowitz on X: https://twitter.com/bhorowitzFollow Erik Torenberg on X: https://twitter.com/eriktorenbergFollow Packy McCormick on X: https://twitter.com/packyM Stay Updated:If you enjoyed this episode, be sure to like, subscribe, and share with your friends!Find a16z on X: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zListen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYXListen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711Follow our host: https://twitter.com/eriktorenberg](https://x.com/eriktorenbergPlease 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. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.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. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
15 Jan 58min
