Podcast
This Week in Startups
Hosted by Jason Calacanis · EN
Jason Calacanis covers startups, tech, markets, media, and all the hottest topics in business and technology. He also interviews the world's greatest founders, operators, investors, and innovators.
165episodes
Episodes
Newest firstAll episodes
How to Raise a Seed Round in 2026: Ask Jason | E2294
May 2900:57:55Summary readyThis Week In Startups is made possible by:Grasshopper Bank https://grasshopper.bank/twistLinkedIn Jobs https://LinkedIn.com/twistNorthwest Registered Agent https://northwestregisteredagent.com/twistToday’s show:Jason breaks down the real math behind raising a seed round. Here’s the funnel: contact 150 firms, get 50 first meetings, convert 2o into second meetings, and close 2 term sheets.PLUS Jason responds to viewer questions about why hardware is no longer a dirty word for investors, how to differentiate your startup from frontier-model companies like OpenAI, even when they’re in your niche. Plus a pitch for “Founder Community College,” and anecdotes from Lon’s European odyssey.Thanks for the Questions:Richard Corral: CEO of Quanto: https://quanto.co/ØnProtons on X: https://x.com/0nProtonsSergeDawg on X: https://x.com/sergedawgMahika GolaniPeridot: https://www.tryperidot.com/Shawn Sully on X: https://x.com/arooglePrograms and Accelerators Mentioned:Y Combinator: https://www.ycombinator.com/Techstars: https://www.techstars.com/Antler: https://www.antler.co/PearX: https://pear.vc/pearx/Sequoia ARC: https://www.sequoiacap.com/arc/Kauffman Fellows: https://www.kauffmanfellows.org/Companies and Startups Referenced:Whoop: https://www.whoop.com/Knightscope: https://knightscope.com/Eight Sleep: https://www.eightsleep.com/Cafe X: https://www.cafexapp.com/Media Referenced:New Yorker Sam Altman profile: https://www.newyorker.com/magazine/2026/04/13/sam-altman-may-control-our-future-can-he-be-trustedOff-Duty RecommendationsTerra Kaffe Demi compact automatic espresso machine: https://www.terrakaffe.com/products/tk-demiOsteria Pastella (Florence, Italy): https://www.osteriapastella.it/Timestamps:0:00 Inside the TWiST private group chat3:25 How to react when an investor says your "too early."6:50 The ultimate seed round funnel8:48 Jason's new Associate in Training program10:09 Grasshopper Bank - Time is money. Don't waste either. Go to https://grasshopper.bank/twist and get an exclusive $500 cash bonus just for opening an account.18:28 How have the metrics for early-stage companies changed?20:20 LinkedIn Jobs - Hire right, the first time. Post your first job and get $100 off towards your job post at https://LinkedIn.com/twist22:34 TWiST Bounties update23:43 Competing against frontier labs30:03 What signals real investor-founder alignment?30:14 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist36:07 A crash course in Bay Area startup culture40:15 Automatons-as-a-Service (AaaS)42:29 Who in Silicon Valley does Jason really not like?49:59 Museum Etiquette with Lon HarrisSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twi...
Summary
The Drone Company Quietly Taking Over Delivery
May 2701:01:23Summary readyThis Week In Startups is made possible by:Render - render.com/twistDeel - deel.com/twistNorthwest Registered Agent - northwestregisteredagent.com/twistToday’s show:The "Ryanair of drone delivery" just raised $50 million and plans to bring its technology from Europe to the United States. Manna founder Bobby Healy explains to TWiST how his Dublin-based company completed 300,000 deliveries while some rivals are still publishing blog posts, and why low-cost airline economics will decide who wins the autonomous skies.Sticking to the drone theme, TWiST welcomed Theseus co-founder Ian Laffey, who called in from Kyiv to tell us about his company’s drone guidance system. It runs off a simple camera and Google Maps. The technology could rewrite the modern, GPS-jammed battlefield, and bring more firepower to smaller nations fending off larger foes.Guest Links:Manna https://www.manna.aeroBobby Healy https://www.linkedin.com/in/bhealy/Manna funding announcement https://www.manna.aero/blog/series-bTheseus https://www.theseus.us/Ian Laffey https://www.linkedin.com/in/ilaffey2/Most recent Theseus funding announcement https://techcrunch.com/2025/04/17/defense-tech-theseus-landed-y-combinator-the-us-special-forces-and-4-3m-from-a-tweet/The tweet that kickstarted Theseus: https://x.com/ilaffey2/status/1759353732075294766Timestamps:0:00 Bobby Healy of Manna joins TWiST1:41 How a Manna base works: drones migrate around the city like Waymos7:18 Battle-hardened in Irish weather: 97% uptime in wind and rain8:52 Margin-positive economics & the path to $0.20 per delivery9:25 Northwest Registered Agent: Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist12:32 $50M Series B vs competitors raising $600–800M19:51 Deel - Founders scale faster on Deel. Set up payroll for any country in minutes, hire anyone anywhere, get visas handled fast, and get back to building. Visit https://deel.com/twist to learn more.22:53 The peer-to-peer drone future and hyper-local commerce25:46 Growing from 170 to 570 people and moving manufacturing to Oklahoma28:43 Ian Laffey of Theseus joins TWIST29:57 Render: Find out why 5 million developers are already using the all-in-one cloud platform, Render. Go to https://render.com/twist and apply for the Render Startup Program to get $500-$100,000 in free credits, depending on your stage and backers.30:58 Inside Ukraine's drone industry: front-line iteration and free-market speed33:55 How GPS gets jammed across the spectrum35:10 Theseus's approach: cameras + satellite maps + ML37:04 The product: Raspberry Pi, SD card, camera — pretending to be GPS49:02 Ukraine: 6–8M drones a year. The US: 300K over two years.51:17 Are US drone primes actually reconstituting the supply chain?58:22 Y Combinator as a defense tech accelerator59:40 "Pick an issue and start working as hard as you can towards it"Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
Summary
From hypercars to cruise missiles: Lukas Czinger on the future of US defense | E2292
May 2301:47:06Summary readyThis Week In Startups is made possible by:Every.io https://every.ioShopify https://shopify.com/twistRender https://render.com/twistPlaud https://Plaud.ai/twistToday’s show:Startups like Divergent Technologies are producing components and aircraft for the military through new systems that are better, faster, and cheaper than conventional methods. CEO and co-founder Lukas Czinger stops by TWiST to share the company’s vertically integrated, AI-driven manufacturing platform and how he transitioned from hypercar parts to working directly with the Pentagon on autonomous aircraft.Plus, 50 million Americans are on antidepressants, and it’s not necessarily the right treatment for all of them. Outro Health co-founders Brandon Goode and Dr. Mark Horowitz share their hyperbolic tapering method, which helps patients get off drugs like Zoloft and Prozac without suffering through traumatic and potentially dangerous side effects.GuestsLukas Czinger: https://x.com/lukasczingerDivergent Technologies: https://www.divergent3d.comCzinger Vehicles: https://www.czinger.com/Brandon Goode: https://www.linkedin.com/in/goodebrandon/Dr. Mark Horowitz: https://x.com/markhoroOutro Health: https://outro.comTimestamps:0:00 Divergent shifted from hypercar development to 3D printing all kinds of components1:33 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!4:10 How 3D printing has exponentially improved8:18 Making military components faster, better, and cheaper9:58 Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit https://every.io11:00 How Divergent caught the Pentagon's attention19:51 Shopify - Turn those What Ifs into sales with the ecommerce platform powering millions of businesses. Sign up for your $1-per-month trial today at https://shopify.com/twist25:29 Why Outro Health helps patients taper off SSRIs30:06 Render - Find out why 5 million developers are already using the all-in-one cloud platform, Render. Go to https://render.com/twist and apply for the Render Startup Program to get $500-$100,000 in free credits, depending on your stage and backers.36:37 Is depression caused by a "chemical imbalance"?46:37 Understanding the hyperbolic tapering method58:32 How Outro makes money1:10:01 Leaked Meta layoff audio1:13:41 Cloudflare CEO drops "measurer" roles1:18:16 CrowdHealth - CrowdHealth lets you ditch the bureaucracy with a peer-to-peer funding platform for your healthcare. Get started for $99 per month for your first three months by using the code TWIST at https://JoinCrowdHealth.com/twist.1:19:17 Why Trump canceled his AI executive order1:28:08 Polymarket sharps on Russia vs. Ukraine, SpaceX ticker symbol1:33:34 Luel vs. Kled update: Is this nepotism at work?1:37:02 Chris Nolan doesn't have a smartphone1:43:04 Jason's favorite new espresso machineSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
Summary
Avi Patel on the startup that copied Kled and why he called out General Catalyst by name | E2291
May 2001:34:22Summary readyThis Week In Startups is made possible by:Grasshopper Bank - https://grasshopper.bank/twistLinkedIn - https://linkedIn.com/twistNorthwest Registered Agent - https://northwestregisteredagent.com/twistPlaud - https://Plaud.ai/twist Why raise $200 million if you are already profitable? That’s the question Jason and Alex put to Mercury’s founder and CEO, Immad Akhund, after the entrepreneur raised another massive round for his upstart, technology-friendly bank. TWiST then welcomed Kled founder Avi Patel to discuss the startup he considers a clear ripoff of his own company. Jason gavels in verdicts on all parties involved, including Y Combinator and venture capital firm General Catalyst. The show closes with a news lightning round, including OpenAI’s decision to offer $2 million in token credits to hundreds of startups.Guest Links:Mercury https://mercury.comMercury funding announcement https://www.businesswire.com/news/home/20260520511817/en/Mercury-Raises-$200-Million-Series-D-at-$5.2B-ValuationImmad Akhund on X https://x.com/immadKled https://www.kled.ai/Avi Patel on X https://x.com/avipat_/Avi’s complaint https://x.com/avipat_/status/2055384102409253056General Catalyst https://www.generalcatalyst.com/Y Combinator https://www.ycombinator.com/Delve https://techcrunch.com/2026/04/23/another-customer-of-troubled-startup-delve-suffered-a-big-security-incident/Discussion links:Anthropic’s attack on secondary trading https://techcrunch.com/2026/05/12/anthropic-warns-investors-against-secondary-platforms-offering-access-to-its-shares/Vanta https://www.vanta.com/twistTimestamps:0:00 Welcome to This Week in Startups!2:14 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!3:27 Immad Akhund (Mercury) joins to discuss $200M raise6:33 Mercury's origin story and path to $650M run rate9:53 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist14:23 Stablecoins: where they work, why Mercury won't launch its own20:13 LinkedIn - Thanks to our partners at LinkedIn! Post your job for free at https://linkedIn.com/twist then promote it to get access to LinkedIn Jobs' new AI assistant.22:38 AI agents, and the future of money movement27:30 Why Mercury raised less this round30:11 Grasshopper Bank - Time is money. Don't waste either. Go to https://grasshopper.bank/twist and get an exclusive $500 cash bonus just for opening an account.42:48 Avi Patel (Kled) joins to discuss copycat startups57:06 Jason's verdict on YC's hacker culture & "appearance of impropriety"1:17:39 Sam Altman's $2M-in-tokens-for-equity offer to YC founders1:24:32 NYC hotel housekeepers cross $100K in time under new union contract1:30:14 Minimum wage, immigration & the case for raising it slowlySubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
Summary
Why does Gen Z hate AI?
May 1801:08:40Summary readyThis Week In Startups is made possible by:Vanta - Vanta.com/TWISTSentry - Sentry.io/TWISTDeel - Deel.com/TWISTToday’s show:AI is the villain of the 2026 commencement cycle, with business luminaries — including Eric Schmidt — booed for discussing or praising the technology. As students graduate into a job market forcibly reshaped by AI, increasingly negative public polling on the potential impacts of artificial intelligence on society is clearly not missing the mark.Jason and Alex then discussed The Information’s reporting that Anthropic and OpenAI earn nearly 90% of all startup AI revenue, a Stanford student’s viral essay regarding their time at the university in a post-ChatGPT world, Flock Safety’s impressive (and worrying) web of cameras, and the upcoming Mark II AI bookmark. The episode closes with questions from our live audience!TWIST Links:Bounty website https://www.thisweekinstartups.com/bountySidebar bounty challenge https://www.notion.so/launch1/5K-Bounty-Create-Sidebar-App-for-Podcasts-34150ff313d280adbd8ed6204676513cAnnotated.com bounty challenge https://annotated.lovable.app/Timestamps:0:00 TWiST All-Stars summer lineup announcement2:43 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!5:08 Eric Schmidt booed at University of Arizona commencement8:57 Why Gen Z feels "double-crossed" by AI leaders10:10 Deel - Founders scale faster on Deel. Set up payroll for any country in minutes, hire anyone anywhere, get visas handled fast, and get back to building. Visit https://deel.com/twist to learn more.15:22 Is this AI's Vietnam moment? The anti-war parallel18:04 Theo Baker's NYT essay on Stanford's AI cheating culture19:24 Sentry - New users can get $240 in free credits when they go to https://sentry.io/twist and use the code TWIST22:30 Why Jason says everyone should start a company28:59 Anthropic + OpenAI capture 89% of AI startup revenue30:17 Vanta: Get $1000 off your SOC 2 at https://www.vanta.com/twist31:57 Are token sales a duopoly? Negative gross margins debate35:17 Risk of building app-layer startups on top of foundation models38:22 Inside Tracker bounty update: AI sidebar + Annotated.com41:18 Mark II: the $159 AI bookmark Alex wants49:31 Flock Safety solves Austin shooting via Manor PD53:39 DeFlock map and the geography of surveillance in Texas1:03:42 Noti Gang: AI for filing patents1:05:45 Noti Gang: Running AI models locally on Mac StudiosSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
Summary
The Self-Driving Startup Nobody Saw Coming | E2289
May 1501:12:48Summary readyThis Week In Startups is made possible by:IM8 Health: IM8health.com/TWISTSquarespace: Squarespace.com/TWISTRender - Render.com/TWISTSelf-driving just stopped being a science problem and became an engineering challenge instead. That's the through-line of today’s double-header with the CEOs of two of the most important AV companies in the world — Wayve's Alex Kendall and Waabi's Raquel Urtasun. Between them: ~$2B raised in the last six months, Uber as a partner, Nissan and Volvo as OEMs, and a shared bet that end-to-end AI plus world models beats Waymo's city-by-city map-and-pray approach.If you want to understand the state of the self-driving industry beyond recent Waymo announcements, this is the episode for you.Guest Links:Wayve: wayve.ai/Waabi: http://waabi.ai/Alex Kendall https://www.linkedin.com/in/alexgkendall/Raquel Uratsun: https://www.linkedin.com/in/raquel-urtasun-298400139/Company Links:Wayve’s GAIA-2 world model: https://wayve.ai/thinking/gaia-2/Wayve’s 500 city roadshow: https://wayve.ai/thinking/ai-500-roadshow-500-cities/Wavye’s most recent funding round: https://wayve.ai/press/series-d/Waybe + Uber: https://wayve.ai/press/wayve-nissan-uber-robotaxi-collaboration/Waabi closed-loop simulator: https://waabi.ai/insights/waabi-worldWaabi + Volvo: https://waabi.ai/insights/waabi-and-volvo-autonomous-solutions-partner-to-jointly-develop-and-deploy-autonomous-transportation-solutionsWaabi + Uber: https://www.uberfreight.com/en-US/blog/uber-freight-and-waabi-introduce-industry-first-autonomous-truck-deployment-solutionTimestamps:0:00 Alex Kendall (Wayve) joins the show1:19 The contrarian bet on end-to-end AI and world models in 20173:05 What is a world model? GAIA-2 and GAIA-3 explained7:34 Sensor agnosticism: camera, radar, LiDAR and minimum bar for safety9:56 $1.5B raised — have we cracked self-driving?10:09 Render: Find out why 5 million developers are already using the all-in-one cloud platform, Render. Go to https://render.com/twist and apply for the Render Startup Program to get $500-$100,000 in free credits, depending on your stage and backers.20:38 Squarespace: Use offer code TWIST to save 10% off your first purchase of a website or domain at https://www.Squarespace.com/TWIST25:03 How consumers will actually pay: bundle, subscription, or free trial30:15 IM8 Health: Start feeling like your best self every day. Go to https://IM8health.com/twist and use the code TWiST to get a free welcome kit, five free travel sachets, and 10% off your order.35:59 Raquel Urtasun (Waabi) joins the show36:25 World models as controllable simulators for physical AI43:34 One AI brain across trucks, robotaxis, and beyond47:35 What changed in AI to make 2026 the deployment year52:28 Why Waabi raised $1B when they're capital-efficient58:52 Where Waabi is today: Volvo VNL Autonomous, Dallas-Houston, Uber Freight1:00:50 Per-mile pricing and the Driver-as-a-Service model1:07:20 Has Uber tried to buy Waabi? "Not for sale"Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
Summary
How Many Startups Will Survive OpenAI? | E2288
May 1301:25:16Summary readyThis Week In Startups is made possible by:Pilot - https://Pilot.com/TWISTGrasshopper Bank - https://Grasshopper.bank/TWISTQuo - https://Quo.com/TWiSTPlaud - https://Plaud.ai/twistAnthropic just declared every unauthorized secondary sale of its stock "void" — naming Hiive, Forge, Sydecar, Upmarket, and others in a public hit list. Jason and Alex sit down with Jenny Fielding (Everywhere Ventures), Dave McClure (Practical VC), and Sam Lessin (Slow Ventures) to unpack what the AI lab’s move to limit secondary trades means for SPV operators, brokers, and the founders trying to keep control of their cap tables. Plus: a real story of a founder who returned a $15M Series A six months after closing because Claude was going to eat his startup, SaaS moats, and just what does it mean to be rich?Timestamps:0:00 Guest introductions0:48 Anthropic voids unauthorized SPV trades8:41 Accredited investor reform & the SEC sophisticated investor test8:58 Quo (formerly OpenPhone) - Quo gives you a clean, modern way to handle every customer call, text, and thread all in one place. Try it free at https://quo.com/TWiST11:43 Naval's USVC closed-end fund as a workaround16:41 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!17:48 Pro-rata rights battles: when Series A investors push seed investors out19:36 Grasshopper Bank: Time is money. Don't waste either. Go to https://grasshopper.bank/twist and get an exclusive $500 cash bonus just for opening an account.29:13 Pilot: Focus on your product, let Pilot handle your bookkeeping. Pilot provides the most reliable accounting, CFO, and tax services for startups and small businesses. Head to https://pilot.com/twist and get $1,200 off your first year.30:23 Storing wealth in stories vs. cash flows34:19 Cerebras and Fervo Energy IPOs — meaningful liquidity?37:54 Will SpaceX, Anthropic, OpenAI IPOs redistribute capital or compound it?45:58 The $15M Series A founder who returned the money because of Claude50:01 Should founders pivot or return capital when the world changes?56:43 OpenAI's $6.6B tender and Shruti Gandhi's viral SF cost-of-living tweet1:00:25 Intercom rebrands to Fin: the AI-first late-stage pivotSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
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How the 1% Will Own Compute (and What It Means for You)
May 1301:08:23Summary readyThe future of AI isn't a smarter chatbot. It's a model that watches your screen, listens to the room, and acts on what it sees. We dug into Thinking Machines' new interaction model, what it means for compute, and the layoff wave that's already here.This week's roundtable: Anastasios Angelopoulos (CEO of Arena, formerly LMArena), Nick Harris (CEO of Lightmatter, photonic computing chips), and Philip Johnston (CEO of StarCloud, building megawatt data centers in space).Thank you to our exclusive sponsor:PayPal Open, One Platform for All Business: http://paypalopen.com/Timestamps:0:00 Cold open1:21 Welcome to Episode 132:51 Is China closing the AI gap? Arena's data5:16 Lightmatter and the photonic interconnect bottleneck9:42 StarCloud 2, Nvidia Space Ruben 1, and orbital data centers17:24 Thinking Machines' interaction model: what's actually new28:22 Whisper Flow and the 3-pedal desk setup33:48 Real-time desktop and camera awareness as the real unlock40:25 Why this 100x's compute demand42:43 The polarization of compute and $10M personal data centers49:25 The layoff wave: Cloudflare, PayPal, Coinbase, Upwork54:48 The 10x gap between AI-first and non-AI-first employees59:52 Unlimited agency and the abundance future1:00:46 Anthropic's Project Luna runs a retail store1:03:45 Decoupling labor from value creation1:05:03 P(doom) round🔗 Guests:Anastasios Angelopoulos, Arena: https://arena.ai | @ML_AngelopolousNick Harris, Lightmatter: https://lightmatter.coPhilip Johnston, StarCloud: https://starcloud.com | @philipjohnston🔗 Referenced in this episode:Thinking Machines, Introducing Interaction Models: https://thinkingmachines.ai/blog/interaction-models/LMArena leaderboard: https://lmarena.aiLightmatter: https://lightmatter.coStarcloud: https://www.starcloud.comTechCrunch, Cloudflare says AI made 1,100 jobs obsolete: https://techcrunch.com/2026/05/08/cloudflare-says-ai-made-1100-jobs-obsolete-even-as-revenue-hit-a-record-high/Fast Company, Tech layoffs this week due to AI (Cloudflare, PayPal, Coinbase, Upwork): https://www.fastcompany.com/91538995/tech-layoffs-due-to-ai-this-week-cloudflare-paypal-coinbase-upworkBloomberg, South Korea floats citizen dividend from AI profits: https://www.bloomberg.com/news/newsletters/2026-05-12/korea-s-massive-ai-boom-triggers-call-for-tech-tax-roiling-marketPYMNTS, Inside a retail store run entirely by AI (Andon Labs / Luna): https://www.pymnts.com/artificial-intelligence-2/2026/inside-a-retail-store-run-entirely-by-ai/Wispr Flow (voice-to-text tool Jason uses): https://wisprflow.aiFermi Paradox: https://en.wikipedia.org/wiki/Fermi_paradox🔗 Subscribe and follow:Newsletter and all platforms: https://thisweekinai.ai#ThisWeekInAI #AI #ThinkingMachines #Lightmatter #StarCloud #Arena #Anthropic #ProjectLuna #AIcompute #AIlayoffs #Superintelligence
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Cerebras's IPO goes vertical, and the death of OpenClaw? | E2287
May 1101:22:37Summary readyToday’s show:Cerebras just jacked its IPO range to $150–$160 a share, OpenAI bought a consulting firm to seed its $4 billion private-equity joint venture, and a startup in Oakland is electrolyzing magnesium out of seawater for one-third the going price. Alex Wilhelm and Jason Calacanis go deep with AI21 co-CEO Ori Goshen on why model orchestration, not bigger LLMs, will decide who wins enterprise AI.The crew also covered the decline of OpenClaw, TikTok's new £3.99 ad-free tier, more entries in the live-show sidebar bounty, and had time for a little Off Duty before signing off.Guest Links:Ori Goshen on LinkedInAI21Alex Grant on LinkedInMagrathea MetalsTimestamps:0:00 Ori Goshen, CEO of AI21 joins the show1:20 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!5:14 Why enterprises care about token cost optimization6:01 Jamba as open-weight; Maestro as proprietary orchestration10:08 LinkedIn Jobs - Hire right, the first time. Post your first job and get $100 off towards your job post at https://LinkedIn.com/twist12:56 AI21 customer roster: FNAC, US tech giants, Israeli companies19:01 Alex Grant, CEO of Magrathea Metals joins to discuss pulling magnesium from seawater20:03 Live video of the Oakland pilot electrolyzer20:10 Deel - Founders scale faster on Deel. Set up payroll for any country in minutes, hire anyone anywhere, get visas handled fast, and get back to building. Visit https://deel.com/twist to learn more.22:01 Magnesium as a "gateway metal" for aluminum, defense, aerospace23:20 TETRA joint venture & the Evergreen Project in Arkansas23:38 Series A close, JV economics: $3,000/ton vs. $7,000/ton market29:10 Sidebar bounty update: Glass Sidebar (Oliver Choy) demo30:47 Netsuite - Get the free business guide Demystifying AI at https://netsuite.com/twist31:47 Sidebar bounty update: Sidecast (Patrick Hughes) demo36:09 Reducing scope to "real-time fact checker only" for final round37:24 Ro.co: Ro's insurance checker will let you know if your coverage includes GLP-1s for FREE. Go to https://Ro.co/Twist for your free insurance check.39:07 Cerebras IPO: $115–$125 → $150–$160 per share44:19 Will OpenAI's compute commitments to Cerebras actually get funded?49:19 Fervo Energy IPO — venture-backed geothermal company going public49:40 OpenAI Deployment Company + Tomoro acquisition explained53:51 Anthropic's parallel $1.5B PE joint venture with Blackstone & Goldman56:05 Why Jason thinks these PE spinouts are convoluted financial engineering56:40 OpenClaw's decline + competition from Cowork, Perplexity, Grok1:04:22 TikTok's £3.99 ad-free subscription launches in the UK1:09:09 Knicks sweep 76ers — Jason's playoff predictions1:11:24 Off-duty: "There Is No Antimemetics Division" by qntm1:13:25 Off-duty: Fall of Civilizations podcast by Paul Cooper1:16:37 States' rights, federalism, housing supply & closing thoughtsSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
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5,000+ Tech Workers Laid Off This Week. It's Just The Beginning. | E2286
May 901:12:00Summary readyThis Week In Startups is made possible by:IM8 Health - https://IM8health.com/TWISTEvery - Every.ioSentry - https://Sentry.io/TWISTBanks don’t want to hand over their data to AI labs. So David Moscatelli built a $250,000 box that runs AI on-prem. He already has 1,600 pre-orders. On today’s episode of TWiST, Jason and Alex sit down with the Go Abacus founder and Yanez's Jose Caldera to unpack how regulated industries are getting AI without the cloud, why Bittensor subnet 54 is incentivizing miners to attack identity systems, and why Cloudflare just laid off 20% of its workforce in the same week it raised guidance. The show closes with Jason explaining what it means to build an AI-first startup, and how workers can derisk their future employment!Guest Links:Go AbacusGo1 direct linkDavid Moscatelli on LinkedInYanezBittensor Subnet 54 on TAOstatsJose Caldera on LinkedInLAUNCH Links:Founder UniversityFounder University Japan application portalNews Links:Cloudflare lays off 20% of its staffCoinbase cuts 14% of its staffBlock post on how it is rebuilding its companyBlock’s earnings, including its raised guidanceAnthropic’s massive upcoming funding roundWHOOP’s new on-demand cliniciansStripe Atlas’s growthTimestamps:0:00 Introduction: Jason in Brooklyn, Knicks playoffs2:30 Go Abacus joins: AI infrastructure for regulated industries3:25 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!4:00 The Go1: 2,000-user on-prem AI appliance7:04 Pricing the Go1: How far does $250,000 go?7:24 1,600 orders and the hardware delivery challenge10:14 Sentry - New users can get $240 in free credits when they go to https://sentry.io/twist and use the code TWIST20:23 Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit https://every.io27:22 Chicago tech scene and in-office culture30:09 IM8 Health: Start feeling like your best self every day. Go to https://IM8health.com/twist and use the code TWiST to get a free welcome kit, five free travel sachets, and 10% off your order.35:11 Yanez joins: How to prove personhood and uniqueness38:32 How biometric capture and bio-keys work40:05 Agent delegation: proving humans authorized AI agents44:19 Bittensor Subnet 54 and incentivizing adversarial miners47:11 Founder University Japan Cohort 2 applications open49:15 Tech layoffs: Cloudflare cuts 20%, Coinbase cuts 14%, Block raises guidance1:02:14 Anthropic's $50B round at $900B pre-money1:04:22 WHOOP adds on-demand clinicians1:06:42 Federalism, state-level regulation, and AI policySubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason’s suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com
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