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

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.

Episoder(900)

Autonomy Across Air, Land, and Sea

Autonomy Across Air, Land, and Sea

2024 has been a milestone year for autonomous tech. Waymo’s fully autonomous driver has surpassed 20 million miles, while FAA approvals now allow commercial drones to fly without visual observers, advancing air autonomy in unprecedented ways.In this special live recording from SF Tech Week, a16z partner Erin Price-Wright moderates a panel of experts from three key domains—air, land, and sea—to explore the latest real-world deployments of autonomous systems, the impact of new chips on cost and efficiency, building full-stack solutions, managing risk, and the evolving role of regulation in driving these technologies forward.Joining the conversation is Macario Namie, CMO of Skydio, discussing the transition from consumer drones to enterprise and government use; Vijay Patnaik, Head of Product at Applied Intuition, who shares insights on developer tools and software for autonomous vehicles; and Peter Bowman-Davis, engineering fellow at a16z, diving into maritime autonomy based on his work at Saronic. Resources: Find Macario on LinkedIn: https://www.linkedin.com/in/macario-namie-bb529/Find Vijay on LinkedIn: https://www.linkedin.com/in/vijaysaipatnaik/Find Peter on LinkedIn: https://www.linkedin.com/in/peter-bowman-davis/Find Erin on Twitter: https://x.com/espricewright Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

4 Nov 202448min

State of Crypto 2024: Builder Energy, U.S. Election, Stablecoins, AI, More

State of Crypto 2024: Builder Energy, U.S. Election, Stablecoins, AI, More

We take you behind the scenes of our newly released, annual State of Crypto Report — a16z crypto's analysis of the latest data and trends that have defined the industry in 2024. This year's report features some brand new insights, from estimating the number of real crypto users globally, to understanding how much interest in crypto swing states may have ahead of the U.S. election. We also dig into infrastructure improvements to blockchains and key applications — including stablecoins, AI, and so-called DePIN. Be sure to visit a16zcrypto.com for all this and more including a new “Builder Energy” dashboard, which we’ll discuss on the show.Joining me to talk about the findings are lead data scientist and report author Daren Matsuoka and CTO Eddy Lazzarin. The first voice you'll hear after mine is Daren's, then Eddy's. a16z crypto resources:-State of Crypto Report 2024-Builder Energy dashboard-Estimating the number of real crypto users by Daren Matsuoka and Eddy Lazzarin Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

29 Okt 202454min

Tesla's Road Ahead: The Bitter Lesson in Robotics

Tesla's Road Ahead: The Bitter Lesson in Robotics

What does Rich Sutton’s "Bitter Lesson" reveal about the decisions Tesla is making in its pursuit of autonomy?In this episode, we dive into Tesla’s recent "We, Robot" event, where they unveiled bold plans for the unsupervised full-self-driving Cybercab, Robovan, and Optimus—their humanoid robot, which Elon Musk predicts could become “the biggest product ever.”Joined by a16z partners Anjney Midha and Erin Price-Wright, we explore how these announcements reflect the evolving intersection of hardware and software. We’ll unpack the layers of the autonomy stack, the sources of data powering it, and the challenges involved in making these technologies a reality.Anjney, with his experience in computer vision and multiplayer tech at Ubiquity6, and Erin, an AI expert focused on the physical world, share their unique perspectives on how these advancements could extend far beyond the consumer market.For more insights, check out Erin’s articles linked below.  Resources: Find Anj on Twitter: https://x.com/anjneymidhaFind Erin on Twitter: https://x.com/espricewrightRead Erin’s article ‘A Software-Driven Autonomy Stack Is Taking Shape’: https://a16z.com/a-software-driven-autonomy-stack-is-taking-shape/AI for the Physical World: https://a16z.com/ai-for-the-physical-world/ Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

24 Okt 202436min

The Story of Apple Pay with Jennifer Bailey

The Story of Apple Pay with Jennifer Bailey

In 2024, marking 10 years since its launch, Apple Pay now boasts hundreds of millions of consumers in 78 markets, at checkout on millions of websites and apps, in tens of millions of stores worldwide, and is supported by more than 11,000 bank and network partners.In this episode, a16z General Partner Alex Rampell sits down with Jennifer Bailey, VP of Apple Pay and Apple Wallet, to explore how Apple has transformed digital payments. Jennifer reveals how Apple Pay and Apple Wallet have grown beyond payments to include transit cards, car keys, and more. They also discuss the challenges of driving adoption, the future of digital wallets, and Jennifer’s insights for entrepreneurs. Resources: Find Jennifer on LinkedIn: https://www.linkedin.com/in/jbaileyzFind Alex on X: https://x.com/arampell Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

22 Okt 202431min

Building a Thriving AI Ecosystem with Lisa Su

Building a Thriving AI Ecosystem with Lisa Su

Lisa Su has transformed AMD into a global leader in AI and high-performance computing.In this episode of the AI Revolution (AIR) series , Bob Swan, a16z Operating Partner and former CEO of Intel, sits down with Lisa Su, CEO of AMD, to discuss how her leadership has propelled AMD’s growth and positioned the company at the forefront of AI innovation.They explore AMD’s pivotal role in democratizing the benefits of gen AI, the evolution of AI computing, and the importance of open ecosystems and partnerships in driving technological breakthroughs.Resources: Find Lisa on X: https://x.com/lisasuFind Bob on X: https://x.com/bobswanStay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

17 Okt 202430min

The Deepfake Dilemma: The Technology, Policy, and Economy

The Deepfake Dilemma: The Technology, Policy, and Economy

Deepfakes—AI-generated fake videos and voices—have become a widespread concern across politics, social media, and more. As they become easier to create, the threat grows. But so do the tools to detect them.In this episode, Vijay Balasubramaniyan, cofounder and CEO of Pindrop, joins a16z’s Martin Casado to discuss how deepfakes work, how easily they can be made, and what defenses we have. They’ll also explore the role of policy and regulation in this rapidly changing space.Have we lost control of the truth? Listen to find out.Resources:Find Vijay on Twitter: https://x.com/vijay_voiceFind Martin on Twitter: https://x.com/martin_casadoStay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

11 Okt 202434min

A Big Week in Tech: NotebookLM, OpenAI’s Speech API, & Custom Audio

A Big Week in Tech: NotebookLM, OpenAI’s Speech API, & Custom Audio

Last week was another big week in technology. Google’s NotebookLM introduced its Audio Overview feature, enabling users to create customizable podcasts in over 35 languages. OpenAI followed with their real-time speech-to-speech API, making voice integration easier for developers, while Pika’s 1.5 model made waves in the AI world.In this episode, we chat with the a16z Consumer team—Anish Acharya, Olivia Moore, and Bryan Kim—about the rise of voice technology, the latest AI breakthroughs, and what it takes to capture attention in 2024. Anish shares why he believes this could finally be the year of voice tech. Resources: Find Olivia on Twitter: https://x.com/omooretweetsFind Anish on Twitter: https://x.com/illscienceFind Bryan on Twitter: https://x.com/kirbyman01 Stay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

8 Okt 202432min

From Swipe to Scale: How Tinder Became #1

From Swipe to Scale: How Tinder Became #1

In 1995, just 2% of couples met online. Today, that number has surged to over 50%, making online dating the top way couples connect.In this episode, a16z General Partner Andrew Chen chats with Tinder founder Sean Rad about how he built an app that changed culture. Sean shares why seamless experiences matter, how startups often get marketing wrong, and how Tinder became the catalyst for online dating's explosive growth.This conversation was recorded live in LA at a16z’s Games third Speedrun program. Learn more about Speedrun: https://a16z.com/games/speedrun/Find Sean on Twitter: https://x.com/seanradFind Andrew on Twitter: https://x.com/andrewchenStay Updated: Let us know what you think: https://ratethispodcast.com/a16zFind a16z on Twitter: https://twitter.com/a16zFind a16z on LinkedIn: https://www.linkedin.com/company/a16zSubscribe on your favorite podcast app: https://a16z.simplecast.com/Follow our host: https://twitter.com/stephsmithioPlease 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.

3 Okt 202428min

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