20VC: NVIDIA Invests $100BN Into OpenAI | Is Triple, Triple, Double, Double Dead | Navan Files to go Public & Notion Hits $500M ARR | The Impact of H1B Visas on Startups in the US
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 693 Ratings
🗓️ 25 September 2025
⏱️ 80 minutes
🧾️ Download transcript
Summary
AGENDA:
00:00 Why I am 100% Equities and 0% Cash
04:35 Nvidia's Massive $100BN Investment in OpenAI
08:39 Is Anthropic Negatively Positioned by OpenAI Gaining NVIDIA Investment
27:30 Is Triple, Triple, Double, Double Dead
44:00 Navan Files to Go Public at $8BN
49:31 Lockup Periods and Liquidity
50:35 Impact of H-1B Visa Changes on Startups
01:02:42: Notion Hits $500M ARR Re-Accelerating
01:09:42 Why Founder Friendly is Total BS Today
Transcript
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| 0:00.0 | Well, I'm excited because just like 2008 at the moment, I'm zero percent cash. |
| 0:04.7 | Founder-friendly has become bullshit. |
| 0:06.7 | Any hot AI deal, there is no diligence provided nor is any done, right? |
| 0:11.2 | It's just done on Saturday. |
| 0:12.7 | Why would you do diligence? |
| 0:13.8 | All you can lose is one extra money. |
| 0:15.5 | Why would you do diligence? |
| 0:16.4 | Having an early success is highly correlated with future success. |
| 0:20.8 | Partly you get the referral effect, but partly I think it's that you just have the stomach to all the dice and you get braver. |
| 0:25.6 | This is 20VC with me, Harry Stebbings, and it's my favorite show of the week, Jason Lemkin, Roryo Driscoll, and the biggest news items of the week. |
| 0:33.0 | We have OpenAI getting a $100 billion investment from Nvidia. Is triple triple double double |
| 0:41.1 | dead? Have growth expectations changed forever? Then we touch on a lot of other topics, including |
| 0:47.9 | Notion, hitting 500 million in ARR and many, many more. This is a fantastic show. Let me know what |
| 0:53.9 | you think, Harry at 20VC. fantastic show. Let me know what you think. |
| 0:54.6 | Harry at 20VC.com. |
| 0:56.6 | I really want to hear your feedback. |
| 0:58.3 | So let me know what we can do to make it better. |
| 1:00.3 | But before we dive into the show today, |
| 1:02.1 | let's talk about agents, specifically Piper, |
| 1:05.5 | the AISDR agent brought to you by Qualified. |
| 1:08.8 | The agentic marketing era has arrived. And if you're a B-to-B marketing |
| 1:12.7 | leader looking to scale a pipeline generation, Piper the AISDR agent, wow, it is here to help. |
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