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Andreessen Horowitz DPI Numbers Show Pre-2015 Vintages & Crypto Driving Returns
Data on cash returns fills out the picture on a16z fund performance. Its first crypto vehicle has yielded a 5x distribution.
 • 
Madeline Renbarger
 and 
Eric Newcomer
AMD’s Rise Signals Fresh Competition in AI Chips. Startups Are in the Game Too.
Plus, a dispatch from Anthropic's Claude Café in New York
 • 
Jonathan Weber
 and 
Madeline Renbarger
Hollywood Sees OpenAI Turning its Back on the Movies
A Los Angeles dinner with executives from film production houses & AI startups reveals a tense but fluid dynamic
 • 
Tom Dotan
OpenAI's Sora 2 Heralds the AI Era for Social Media & the ‘Attention Economy'
Plus, Ex-Sequoia partner Matt Miller launches a London-based fund & Mira Murati's AI lab releases its first product
 • 
Madeline Renbarger
, 
Tom Dotan
, and 
Jonathan Weber
OpenAI Is Now the Tech Economy's Atlas, Holding Valuations on its Shoulders
As OpenAI's ambitions grow, so do the ripple effects of any stumbles
 • 
Tom Dotan
‘A Bonanza for Other Countries': Founders Denounce Trump's Visa Changes & Look to Offshoring Jobs
Plus, 2021 vintage funds are finally turning a corner & California's AI transparency bill set to become law.
 • 
Madeline Renbarger
 and 
Jonathan Weber
1
Andreessen Horowitz Has Returned at Least $25 Billion Net to Its Backers Since the Firm's Founding in 2009
The firm has held its $900 million 2012 Fund III at 9.4x net TVPI.
 • 
Eric Newcomer
We're Back. The Cerebral Valley AI Summit Will Bring Together Leaders of Anthropic, xAI, Vercel, Replit & More
Anthropic's Mike Krieger & xAI's Jimmy Ba will be on stage at CVAI
 • 
Eric Newcomer
Business Leaders Dance to Trump's Tune
Plus, Robinhood pushes the envelope again on private share trading & OpenAI opens the kimono on ChatGPT usage
 • 
Eric Newcomer
, 
Madeline Renbarger
, and 
Jonathan Weber
The Story of a Cap Table: Klarna
Sequoia bet big early & stayed the course. Permira won with a shrewd PE flip. DST & GA punted too early. SoftBank lost money. The Swedish fintech was an…
 • 
Madeline Renbarger
Oracle's Unlikely Journey to Data Center Darling Built on Three Contracts & Voracious Investor Appetite for AI
Plus, Y Combinator startups raise fresh funds & OpenAI faces off with California
 • 
Tom Dotan
, 
Madeline Renbarger
, and 
Jonathan Weber
AI in Healthcare Seeds Big Dreams, Shadowed by Politics & Tight-Fisted Payers
Our top takeaways from Deus Ex Medicina
 • 
Jonathan Weber
, 
Madeline Renbarger
, and 
Tom Dotan
Newcomer
Newcomer
Where technology and venture capital intersect: A deeply reported newsletter on the inner workings of the startup industry. Helmed by Eric Newcomer with writing from Madeline Renbarger.
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