The most anticipated show of the week. This one has more bangers than a Coldplay concert… - Lovable Raises at $2BN & Hits $100M ARR - Is Cursor Worth $28BN at $1BN in ARR? - How Do All Providers Deal with Anthropic Dependency Risk? - Are Seed Funds F**ked? Have Mega Funds Won? - Figma IPO Breakdown: Where Does It Price? My 5 takeaways with @jasonlk & @rodriscoll 👇

1. I Would Invest in Anthropic Over OpenAI Three reasons: There is cap table clarity. They’ve got a working business model. They are exercise pricing power: We are seeing these unprofitable AI models becoming profitable. Love to hear your thoughts on this @mmurph @jeffrichlive @paulbz @nathanbenaich @officiallogank?

2. Figma is cheap at this price but it is all part of the strategy. Their IPO is priced at 14–16× NTM with a phenomenal growth rate. This attracts investors: Low valuation hooks prospects into meetings and fuels demand buildup. Underwriters will “walk up” the price later. Love to hear your read on this @bgurley @altcap @plaffont @infoarbitrage

3. Anti-Portfolio Trauma is the Psychological Price You Have to Pay for Being in the Game It is the emotional tax you pay for being in good deal flow. If you’re not seeing 10 great deals you are probably not going to do one great deal. The psychological tax for doing one great deal is you pass on nine deals or you don't win them. What is your single biggest miss? How did it shape your go forward mindset? @robgo @dafrankel @rabois @alexisohanian

4. The Best Investors Meet One Founder per Month That Can Return the Fund If you are an S-tier investor, you need to meet with one fund-returning founder at least once a month. You cannot do all the deals. You have to meet 8-10 a year to make money. Love to hear your thoughts on this @pitdesi @honam @nbt

5. Why Mega Funds Are Always Better for the Entrepreneur They do more deals & have more news flow. They have a good brand: Lower picking ratio x higher deal volume = Constant flow of good news. They have massive amounts of capital: They can win deals, pay more, & have the option to stuff more money in later. Love to hear your thoughts on this @edsim @ncsh @joshk @mkrocks

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