Software Winners & Losers in the Age of AI (w/Alex Rubalcava & Paul Bricault) | #626

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 10 April 2026

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guests are Alex Rubalcava and Paul Bricault of Amplify.LA, a pre-seed venture capital firm. In today’s episode, Alex and Paul break down the opportunities and challenges AI is creating for both startups and investors. They discuss the changing economics of software, what makes an AI company defensible, where investors are finding opportunity in frontier sectors, and why speed matters more than ever in early-stage investing. To close, they explore startup pivots and the tax advantages of QSBS. (0:00) Starts (1:27) Introducing Alex and Paul (2:02) Public software companies & AI (5:13) Amplify LA background and partnership formation (7:34) AI use cases in portfolio companies (15:08) AI's impact on the job market (30:31) AI's impact on investment opportunities at the pre-seed stage (41:02) Aerospace sector opportunities (44:32) Successful startup pivots (50:18) Liquidity in VC (55:28) QSBS impact ----- Sponsor: Want to learn more about 351 Exchanges? Visit the ⁠Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. ⁠Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor show, where the focus is on helping you grow and preserve your wealth.
0:10.9	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser.
0:16.9	Better investing starts here.
0:19.5	Metfabor is the co-founder and chief investment officer at Cambria Investment Management.
0:22.5	Did it industry regulations, he will not discuss any of Cambri's funds on this podcast.
0:25.8	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of Cambria investment management or its affiliates.
0:31.2	For more information, visit camriainvestments.com.
0:35.1	What would you do if markets dropped over 30% in a matter of weeks?
0:39.3	That's exactly what happened in March 2020,
0:41.9	and many investors didn't just experience losses.
0:44.7	They panic sold at the worst possible time.
0:47.4	If you're looking for a diversifier that seeks to help manage the impact of fast equity drops,
0:52.6	take a look at chaos.
0:53.8	The Alpha Architect Tail Risk
0:55.6	ETF, ticker chaos, that's CAOS, seeks to provide investors with asymmetric returns
1:01.6	during fast market crashes while targeting net positive returns over the long term. With
1:07.0	equity valuations near all-time highs, historically high government debt levels, and potential inflation looming on the horizon, it may be time to look beyond bonds for diversification.
1:17.2	To learn how chaos may help diversify your portfolio and read the funds prospectus and important information, head to funds.aforcharchitect.com forward slash chaos or check out the link in the show notes. Please note that
1:29.2	diversification does not guarantee a profit or protect against a loss in a declining market.
1:34.6	Welcome back, everybody. Today we have an awesome episode with two guests, our first
1:39.7	returning guest, been here a few times, Alex Rubalava. Alex was at stage venture capitals for the last
1:45.8	decade, recently joined forces with our next guest, Paul Brico at Amplify, L.A., where they make
	...

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