20VC: Scale's $14.8BN Acquisition: Is Scale a Dead Man Walking / What Did Meta Buy | Chime IPO: Are IPOs Hotter Than Ever | Ramp Hits $16BN Diluting Only 1% | Salesforce, Slack and Dropbox Falling Behind: Are Incumbents Losing Ground

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 19 June 2025

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Agenda:

00:00 – Meta’s $14.8B Deal for Scale: The Analysis

05:40 – Will Scale Lose Their $800M ARR? Will All Customers Leave?

13:00 – Who is the Winner from All Scale Customers Leaving?

21:30 – Who Made the Most Money From Scale?

24:00 – LPs Just Got $14B Back. Are They Reinvesting?

26:45 – Chime IPO: The Breakdown

29:20 – Ramp Hits $16B Valuation: Are We Back in 2021?

31:10 – Ramp vs Brex vs Mercury: Who’s the Real Winner?

34:00 – Gusto Going Public with $900M in ARR???

36:40 – Dropbox vs Glean: Can the Old Guard Survive the AI Wave?

38:50 – Is Slack Dead as a Platform? Salesforce Shutdown Slack API?

41:15 – Will China Dominate AI? The Bets Are In

43:00 – S&P Prediction, iPhone Assembly in the US, and Rory's Rants

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Transcript

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0:00.0	There's no way that scale can recover from losing its founders.
0:03.9	I love you, but it's a dead man walking instantly.
0:06.4	I could imagine an entire IPO cycle where once again, neither of the two names you cited chose to go out and we get to the end of the year.
0:13.2	I'm starting to lose confidence in the old guard.
0:15.3	In situations of ambiguity, the person who has the most leverage has the best chance to win.
0:20.7	And I would argue Microsoft
0:22.3	has quite a lot of leverage because it's not existential for them. I think they have no leverage,
0:26.3	actually, honestly. I'm not trying to be a chaos agent like our prior guest. It's time for my
0:31.4	favorite show of the week where we sit down with Rory O'Driscoll and Jason Lamkin to discuss the
0:36.1	biggest news stories from the week.
0:38.0	This week, we were not short of topics.
0:40.6	First, scale acquired by Meta for 14.8 billion.
0:44.9	Then we have the CHIME IPO.
0:47.0	Then we have Microsoft and OpenAI disagreeing again.
0:51.0	And so much more.
0:52.4	But before we dive in today, here are two fun facts about our newest brand sponsor,
0:56.9	Kajabi.
0:57.5	First, their customers just crossed a collective $8 billion in total revenue.
1:02.7	Wow.
1:03.6	Second, Kajabi's users keep 100% of their earnings,
1:07.0	with the average Kajabi creator bringing in over $30,000 per year. In case you didn't know,
1:12.4	Kajabi is the leading creator commerce platform with an all-in-one suite of tools, including
	...

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