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

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.

Stay Updated:

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Podcast on Spotify

Listen to the a16z Podcast on Apple Podcasts

Follow 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.


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a16z Podcast: Sports, Tech, and What We Can All Learn from the Latest Performance Science

a16z Podcast: Sports, Tech, and What We Can All Learn from the Latest Performance Science

The modern, average 12-year-old Madden NFL videogame player has actually visualized more plays than ‪any past real-life NFL Hall-of-Famer. And now, for the first time, we're seeing those videogame tactics show up on the field too. There's a "technological and analytical arms race" going on in sports, and it's producing the world's best athletes in history. How are they working smarter, using science and technology to enhance the way they train and perform, when it's not enough to put in 10,000 hours? How should athletes sleep? (Note: you can try this at home, too). And what does “performance by the aggregation of marginal gains” have to do with winning? Author of the new book Faster, Higher, Stronger Wired's Mark McClusky -- interviewed by a16z General Partner (and enthusiastic basketball player) Jeff Jordan -- bridge the worlds of "jocks" and "nerds" in this wide-ranging conversation about sports, performance technology, nature vs. nurture, and the tricky nuances of why some enhancement technologies are legal vs. illegal or better vs. worse than others. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

14 Nov 201457min

a16z Podcast: When Fantasy Football and Crowdfunding Collide

a16z Podcast: When Fantasy Football and Crowdfunding Collide

With 15 million fantasy football players angling for the win in thousands of fantasy leagues, ESPN joined Tilt.com for a discussion about how crowdfunding provides a platform for an obsessed community. The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments and certain publicly traded cryptocurrencies/ digital assets for which the issuer has not provided permission for a16z to disclose publicly) is available at https://a16z.com/investments/. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

12 Nov 201425min

a16z Podcast: What Makes the Valley Work

a16z Podcast: What Makes the Valley Work

Don Faul, head of operations at Pinterest and a former U.S. Marine Corps Platoon Commander, grills Marc Andreessen in front of a crowd of veterans at an event we hosted for bringing more veterans into startups. The discussion ranges from what makes great founders great; the shift to venture capital; and how Silicon Valley is all about “applied creativity.” All that, plus the three books every entrepreneur should read... Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

11 Nov 201443min

a16z Podcast: Selling Tech to Everyone -- Changes Everything

a16z Podcast: Selling Tech to Everyone -- Changes Everything

It’s always hard to predict how a generational shift in technology will impact the wider world, especially when you are in the trenches building that new technology. It happened with the mainframe computer, mini-computer, and the PC. These were all technologies that fundamentally changed how industries functioned and culture evolved (especially the PC plus internet), and in ways that were hard to predict. With mobile and the smartphone, a16z’s Benedict Evans argues, the impact will be even greater. a16z Board Partner Steven Sinofsky joins Evans in a conversation examining the massive scale and monstrous leverage of mobile devices and the software running on them and how -- unpredictably as always -- this technological shift is changing the world. As Sinofsky puts it, “Mobile is everything.” The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments and certain publicly traded cryptocurrencies/ digital assets for which the issuer has not provided permission for a16z to disclose publicly) is available at https://a16z.com/investments/. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

31 Okt 201422min

a16z Podcast: Beyond Bitcoin -- The Blockchain

a16z Podcast: Beyond Bitcoin -- The Blockchain

It’s well understood that bitcoin can be used to buy and sell things/services, and the ecosystem of people accepting the cryptocurrency as payment is expanding. But what else can we use the underlying protocol for? How can we expand the same system that enables bitcoin-the-currency to flow and transactions to be recorded? This discussion (from the a16z Academic Roundtable 2014) examines that question, and answers why the currency is just the beginning of the story when it comes to this technology. You can watch video of the entire discussion here: http://a16z.com/2014/10/24/the-bitcoin-network-effect/ The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments and certain publicly traded cryptocurrencies/ digital assets for which the issuer has not provided permission for a16z to disclose publicly) is available at https://a16z.com/investments/. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

24 Okt 201429min

a16z Podcast: The (Definite) Optimism of Peter Thiel

a16z Podcast: The (Definite) Optimism of Peter Thiel

What is Silicon Valley’s greatest reigning monopoly? How did PayPal manage to emerge from the dotcom implosion? Can you build a great tech company and keep it private forever? And how did Elon Musk manage to wreck an uninsured, million-dollar car with Peter Thiel in the passenger seat speeding on the way to a VC meeting? Marc Andreessen and Thiel discuss all of it in a wide-ranging conversation that toggles off the topics in Thiel’s new book “Zero to One.” Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

17 Okt 201446min

a16z Podcast: Startups as Science Experiments -- Can VC Disrupt Academia?

a16z Podcast: Startups as Science Experiments -- Can VC Disrupt Academia?

It's a myth that startups happen in isolation. Those legendary two people in a garage are often building on the deep and basic research -- long funded by government and conducted in universities -- that has come before it. But with the advent of the internet, what's the future of peer-to-peer collaborations and startups-as-"science experiments"? Can venture capital disrupt academia… and vice versa? And finally, what's the secret to universities like Stanford making money off the entrepreneurial ideas coming out of them? (Hint: It starts with a 'p'. But not what you think.) a16z's new professor in residence Vijay Pande interviews Marc Andreessen at our recent Academic summit on these topics, as well as 'regulatory arbitrage', how to mix humanities and science, and what Marc would have majored in if he were 18 today. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

2 Okt 201423min

a16z Podcast: For Buzzfeed Sharing is the Metric that Matters

a16z Podcast: For Buzzfeed Sharing is the Metric that Matters

Jonah Peretti is building BuzzFeed to “inform, inspire and entertain” in a world where news and entertainment is increasingly passed around on social networks and consumed on smartphones. Chris Dixon, who is on the board of BuzzFeed as part of Andreessen Horowitz’s recent investment in the startup, sat down with Peretti to talk about building a media company from scratch. If editorial success is driven by digital word-of-mouth, and mountains of data about what people like to read and watch, what does Peretti do differently? Why do BuzzFeed’s lists work so well? Does video finally make financial sense? And why, even if it’s a traffic monster now, is Peretti not religious about any particular format -- including lists. (For more on Dixon’s take on the media business, and BuzzFeed’s “full stack” approach check out this recent post: http://cdixon.org/2014/08/10/buzzfeed/) The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments and certain publicly traded cryptocurrencies/ digital assets for which the issuer has not provided permission for a16z to disclose publicly) is available at https://a16z.com/investments/. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information. Stay Updated:Find a16z on XFind a16z on LinkedInListen to the a16z Podcast on SpotifyListen to the a16z Podcast 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.

18 Sep 201426min

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