Uncapped with Jack Altman23 Juli 2025

Uncapped #18 | Peter Fenton from Benchmark

Peter Fenton is the longest-serving full-time partner at Benchmark, a renowned venture firm known for its artisanal approach and deep alignment with founders. Over the last two decades, Peter led investments in Twitter, Yelp, Elastic, Docker, Zuora, and many others. He also achieved one of the rarest feats in venture history in 2014 when two of his investments, Hortonworks and New Relic, went public on the same day. More recent investments include Sierra, Ollama, ClickHouse, and Airtable. Peter is considered one of the most successful tech investors of our time and is an incredible person to learn from.

We covered:

Darwinism and Silicon Valley
Who wins as a result of AI
Embracing things that don’t scale
Sourcing and winning motions
Being a great board member

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Timestamps:

(0:00) Intro

(0:23) Darwinism and Silicon Valley

(5:38) Silicon Valley vs everywhere else

(12:09) Highly adaptive ecosystems

(19:40) Who wins with AI

(26:22) Applying Darwinism to venture

(36:54) North Stars in venture

(42:22) Embracing things that don’t scale

(49:51) A young person’s game

(57:10) Sourcing methodologies

(1:07:50) Convincing founders to choose you

(1:10:56) Not a winner-take-all game

(1:13:35) Being a great board member

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Avsnitt(57)

Uncapped #57 | Andrew Feldman from Cerebras

Andrew Feldman is the co-founder and CEO of Cerebras Systems, the AI chip company he founded in 2016 around a single radical insight: that winning in compute requires not incremental improvement but a...

15 Sep 1h 2min

Uncapped #56 | Brian Singerman from GPx

Brian Singerman is the co-founder of GPx, a fund launched in 2025 alongside Lee Linden of Quiet Capital. GPx backs elite emerging managers at the early stage, then provides programmatic capital to co-...

1 Sep 1h 2min

Uncapped #55 | Tony Xu from DoorDash

Tony Xu is the co-founder and CEO of DoorDash, the leading local commerce platform in the United States. Since co-founding DoorDash in 2013, Tony has built the company into a publicly traded business ...

28 Juli 47min

Uncapped #54 | Sam Blond from Monaco

Sam Blond is the co-founder and CEO of Monaco, an AI-native revenue automation platform built to replace the CRM as the system of record for sales. Before Monaco, Sam was a Partner at Founders Fund an...

14 Juli 1h 9min

Uncapped #53 | Trae and Delian from Founders Fund

Trae Stephens is a Partner at Founders Fund and co-founder and Executive Chairman of Anduril Industries, a defense technology company building autonomous systems for the U.S. military and its allies. ...

30 Juni 1h 11min

Uncapped #52 | Mike Volpi from Hanabi Capital

Mike Volpi is a General Partner at Hanabi Capital, with a background that spans senior operating roles and nearly two decades of investing. Mike currently sits on the boards of several innovative comp...

10 Juni 56min

Uncapped #51 | Joe Lonsdale from 8VC

Joe Lonsdale is the Founder and Managing Partner at 8VC, an early-stage venture capital firm managing over $6 billion in capital. In 2003, he founded Palantir (NASDAQ:PLTR), a global software company ...

27 Maj 43min

Uncapped #50 | Tobi Lütke from Shopify

Tobi Lütke is the co-founder of Shopify, where he has served as the company's CEO since 2008. Under his leadership, Shopify grew from an online snowboard shop in Ottawa, Canada in 2004 to the world's...

20 Maj 58min