In this episode, Jason and Jeff sit down with Joe Magyer of Seaplane Ventures to explore how generative AI has completely rewired the startup investing landscape. The trio discusses how tools like Claude and ChatGPT have drastically lowered the cost of building software, the heavy consolidation of capital into frontier labs like Anthropic and OpenAI, and why genuine domain expertise and network effects are more valuable than ever for venture capitalists navigating an AI-native world.

01:36 Why AI Changes VC

03:55 VC Concentration Shift

06:05 Cheaper Startup Building

08:42 More Pitches to Sift

11:24 Using AI for Diligence

14:28 Human Edge and Alpha

20:41 Culture and Expertise Future

27:38 Apprenticeships and Jobs

32:06 AI Jobs History

34:19 Venture Hit Rates

37:52 Defensibility Network Effects

40:07 VC Consolidation Debate

43:14 Founder Leverage Value Add

46:20 Portfolio Support Metrics

49:36 AI Costs Falling Fast

54:47 Next Trillion Giants

57:24 Where To Find Joe

Companies mentioned: AAPL, EBAY, GOOG, GOOGL, META, UBER

Find Joe at https://www.seaplaneventures.com/

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