I'm not sure they're buying them for $60 billion.

If your stock is valued at 100 times revenues, you can buy things that are trading a 10 or 15 times revenue all fucking day long. I think there'll be a $100 billion deal in the next 12 months. I think this will stand as the high watermark of private M&A for a decade. This is 20VC with me, Harry Stebbings. It's my favourite show of the week, Roryo Driscoll and Jason Lemkin,

analysing the biggest news in tech.

Now, this week on the agenda, my God, breaking news,

cursor acquired by XAI or SpaceX, otherwise known,

for $60 billion with a $10 billion break clause.

Tim Cook announces he's stepping down from Apple after an epic run.

Anthropic turns down $800 billion funding offers and crosses the trillion dollar mark on secondary markets.

And then Anthropic launches Claude Design as if it wasn't eating everyone else's lunch.

Now it's going after Figma, Adobe, Canva.

This is an epic one. As always, we did not fall short of banging news to cover.

But before we dive into the show today, let me tell you about Omni.

It's an AI analytics platform and it solves a problem every scaling company hits. Your team needs insights,

not just data lookups, the stuff that really matters, and it's critical to get it right,

like CAQ payback periods and net dollar retention. For AI agents to act on your company data,

they need your business context, your definitions, your logic, your permissions, and that's what

Omni's governed context graph provides. Your data team defines it once, your logic, your permissions. And that's what Omni's governed context graph provides.

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Perplexity, Mercury and DBT run on Omni.

And 20 VC listeners get a free three-week trial.

Three week, very specific, not a month, but three weeks. Go to Omni and 20 VC listeners get a free three-week trial, three-week, very specific, not a month,

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