20VC: Why VC Today is Worse Than 2021 | Why Vertical SaaS is a Bad Investment Today | Why We Are Deluding Ourselves on Growth Expectations | Revolut Raises $3BN at a $75BN Valuation | Benchmark Adds Their Newest General Partner

This episode of 20VC features Harry Stebbings, Jason Lemkin, and Rory O'Driscoll discussing a range of topics including Everett Randall joining Benchmark, Revolut's latest funding round, and OpenAI allowing erotica. The panel debates the merits of investing in AI, TAM exhaustion, and the capital intensity required to compete in the AI space. They also explore the potential overestimation of TAM and adoption rates in the current market, drawing parallels to the COVID-19 pandemic's impact on certain industries. The conversation touches on venture capital returns, the challenges of temporal diversification, and the long-term implications of AI on various sectors.