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The Pomp Podcast

Why No Company Will Win the AI War: The "Rebel Alliance" Thesis | Nick Grossman

The Pomp Podcast

Anthony Pompliano

Investing, Business

4.62K Ratings

🗓️ 20 July 2026

⏱️ 52 minutes

🧾️ Download transcript

Summary

Nick Grossman is a General Partner at Union Square Ventures. In this conversation, we break down his "Rebel Alliance" thesis for AI — why he believes the industry is too big for one or two companies to dominate. We also discuss USV's internal multi-agent platform, model routing economics, AI's growing role in venture capital and financial markets, data privacy risks, and what happens to jobs and society as agents get smarter.

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  • 0:00 - Intro
  • 0:42 - The "Rebel Alliance" thesis: why one company won't dominate AI
  • 7:15 - General-purpose vs. specialized models in USV's portfolio
  • 8:40 - Compute costs & the rise of model routing
  • 11:14 - Inside USV's internal multi-agent system
  • 16:25 - AI's role in venture capital & autonomous investing
  • 22:50 - How AI reshapes market signals & information edges
  • 27:06 - Apps building models & the fight over your data
  • 35:31 - Five-year outlook for the AI stack
  • 37:57 - US vs. China: the "philosophy" of AI models
  • 40:30 - Personalized AI & where the Rebel Alliance thesis plays
  • 43:53 - The dark side: jobs, data centers & society
  • 47:44 - AI as a personal superpower & neural implants

Transcript

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0:00.0

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0:05.8

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0:28.2

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0:36.8

With juicy beef, cheddar cheese and the Big Arch sauce,

0:39.8

now topped with crispy bacon.

0:42.2

The Big Arch just got bacon.

0:46.6

Until 28th of September, 26, said from 11 a.m., subject to availability.

0:50.3

We're going to absolutely be living in a multi-agent world,

0:54.0

thousands, millions of agents, and that there will be agents that kind of look like people or teammates that you talk to, and then there will also be agents that are just embedded in all of our systems. And what's going on, guys? Today we've got a great conversation with Nick Grossman. He's a general partner at Union Square Ventures. And in this conversation, we go deep down the AI rabbit hole. We talk about a thesis that he has called the Rebel Alliance. It's the idea that there's going to be tons of companies and that the AI trend is way, way bigger than you're thinking about. On top of that, we get into some of the nuanced details about what's happening in terms of building this technology, where value is going to accrue. What are the different use cases? Where is the technology going to be valuable?

1:28.5

And what are some of the negative tradeoffs?

1:30.0

All of that and much more in this conversation with Nick Grossman. All right, Nick, you guys have a great piece that you put out that talks about the Rebel Alliance. When it comes to how the AI industry is going to evolve, what exactly is the Rebel Alliance? So the Rebel Alliance is our view that AI is too big an opportunity to be dominated by one or two or three companies and that it's actually forming into a massive ecosystem.

1:53.8

And we're seeing that happen in real time as agents and agentic approaches, you know, start to take hold.

2:01.6

And that's really two things.

2:03.1

It's like agents that interact with consumers, this AI doctor agents, AI financial advisor

2:08.4

agents, these sort of personified agents, they're going to be approaching every sector

2:14.1

and every use case.

2:15.7

And then also under the hood, it's agents as infrastructure.

2:19.0

What we're seeing now is the agenic stack is forming like the compute stack formed, you know,

2:25.4

in the prior areas of the web and mobile, where, you know, we're not just talking about what are

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