Benchmark's Newest General Partner Ev Randle on Why Margins Matter Less in AI & Why Mega Funds Will Not Produce Good Returns

Ev Randle is a General Partner @ Benchmark, one of the best funds in venture capital. In their latest fund, they have Mercor ($10BN valuation), Sierra ($10BN valuation), Firework ($4BN valuation), Legora ($2Bn valuation) and Langchain ($1.4Bn valuation). To put this in multiples on invested capital, that is a 60x, two 30x and two 20x. Before Benchmark, Ev was a Partner @ Kleiner Perkins and before Kleiner, Ev was an investor at Founders Fund and Bond.

In Today's Episode We Discuss:

• Biggest Investing Lessons from Peter Thiel, Mary Meeker and Mamoon Hamid

• OpenAI Will Be a $TRN Company & OpenAI or Anthropic: Who Wins Coding?

• Why We Should Not Focus on Margin But Gross Dollar Per Customer

• Why AI Labs are the Biggest Threat to AI App Companies

• Do Benchmark Fire Founders? If so… Truly the Best Partner?

• People, Product, Market: Rank 1-3 and Why?

• Why the Mega Funds Have Just Replaced Tiger

• GC, Lightspeed and a16z Cannot Do 5x on Their Funds…

• Single Biggest Threat to Benchmark