Anthropic Raises $45BN but Falls Short on Compute | OpenAI Crushes with GPT5.5 and Codex: Back in the Game? | China Blocks Manus $2BN Deal to Meta

Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more.

Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others.

In Today's Episode We Discuss:

• $45B Floods into Anthropic from Google & Amazon

• OpenAI Misses Growth Targets: Is This a Real Problem?

• The Rise of AI Agents: Why Humans No Longer Pick Models

• "Compute ≠ Revenue": The First Crack in the AI Business Model

• China Blocks $2B Manus Deal

• Why Google May Be the Biggest Winner in AI Infrastructure

• The Death of SaaS? Agents Replace Apps Like Jira & Canva

• Thoma Bravo Hands Medallia to Creditors: $5B Wiped Out

• The Collapse of Private Equity Exit Routes in VC