Hi, and welcome to the A16Z podcast. I'm Amelia Salyers. Today's episode is a special one, since it's the 10th anniversary of Andresen Horowitz, which was founded in late June 2009. So, we decided to turn the tables by asking Stuart Butterfield, founder and CEO of Slack, to interview our founders, Ben Horowitz and Mark Andreessen. The three of them discuss the differences between founders in 2009 and today,

the business model of VC and A16C's history, and technology trends then, now, and into the future.

And they also throw in a few good summer book and TV recommendations at the end.

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

A16C fund. Any investments are portfolio companies mentioned, referred to, or described in

this podcast are not representative of all

A16Z investments, 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 A16Z is available at A16.com slash investments.

For more details, please see A16Z.com slash disclosures.

One question I want to ask is, like, has the nature of the entrepreneurs or the founders change?

So 2009, you have raised some money, you have some LPs, and now you're out there looking for ways to invest.

Who are you meeting? Where are they coming from? And what are they like?

Yeah, well, you know, I really feel like in retrospect that class of 2009 entrepreneurs were

some of the most special ones that we've met in the entire history of the company. And when we

see that again, we always say like yourself, Todd McKinnon, Martine, Brian Chesky, you know,

the thing all of you had in common is you had gone through something like just unbelievable

to get to the position you were to start the company, you know, earned your stripes. Like

everybody in 2009 seemed like they pay their dues, like in a pretty serious way to get into position.

And I think, you know, one of the great things that's happened over the last 10 years is it's

...