20VC: OpenAI's $3BN Acquisition of Windsurf: The Breakdown | Are Endowment Funds F******* & How LP Deployment to Venture Will Change in 2025 | Why Revenue Multiples are BS, The Rise of AI Rollups and Multi-Stage Funds Destroying Seed Investing

In Today's Show We Discuss:

04:49 Breaking Down the $3BN Windsurf Acquisition

06:18 Why Sam Altman is Playing a Master Game

12:40 Why Multi-Stage Funds are Destroying Seed Managers

21:52 Are Endowment Funds F******

27:38 What Would Rory Do If He Was CFO of an Ivy League Endowment Fund

43:38 The Denominator Effect and It's Impact on Venture Allocations

49:36 Why Revenue Multiple is BS & What You Need to Know

51:34 The Rise of AI Rollup Plays & Are They Good Businesses

55:29 Competitive Markets: How to Make Money in Them?

01:02:58 Why If You Can Guarantee 5x, You Should Always Do the Deal

01:11:56 Is SF The Only Place to Be Building Today