The Full Ratchet

AI's biggest bottleneck isn't chips. It's power.

@ZacharyAarons of @MetaPropNYC joins TFR to discuss the energy crunch, why companies can't just vibe code their own software, robotics in construction, and why commercial real estate could be poised for a comeback. Link in bio.

Is $10M ARR the new Series A milestone?

@yuris of @generalcatalyst joins TFR to discuss AI's impact on seed investing, why founder velocity matters more than pedigree, the dangers of overfunding, and why the next generation of startups could reach $10 trillion in value.

Are VCs chasing the wrong exits?

@micahjay1 of @fcollective joins TFR to unpack the 500 largest VC exits, why smaller funds can outperform, when to sell secondary, why capital efficiency matters, and why investors need to stop following the herd.

Link in bio.

Everything in AI looks like it’s winning. But how much of that growth is real?

@fubini and Manish Patel of XYZ join TFR to discuss AI’s noisy signals, what makes a company durable, today’s wild valuations, & why the best founders may be building for a future we can’t see yet.

Is seed becoming the new sucker round?

@thejohnchen of @fikavc joins TFR to discuss $10–15M pre-seed rounds, fear and greed in AI, VC “kingmakers,” soaring valuations, why the best product can still win, and where he’s finding overlooked opportunities.

Link in bio.