Mike Mignano, USV: Why Now is the Time for the Application Layer | Why OpenAI & Anthropic Won't Win the App Layer | Why Startups Should be TokenMaxxing

Mike Mignano is a General Partner at Union Square Ventures, one of the most iconic venture firms in the world, whose investments include Coinbase, Stripe, Etsy, Twilio, Cloudflare. Before joining USV, Mike was a Partner at Lightspeed, where he backed breakout AI companies including Granola and Suno. Prior to investing, he co-founded Anchor, acquired by Spotify.

In Today's Show We Discuss:

• Is Fear of Failure the Secret Weapon Behind Great Founders?

• Why Leave Lightspeed for USV — and Is Thesis-Driven Venture Still Alive?

• Is the Real AI Money Still in Infrastructure, or Are Apps Finally About to Explode?

• Who Wins the AI Model War: OpenAI, Anthropic, Open Source, or the "Rebel Alliance"?

• Are We About to Hand Our Entire Lives Over to AI Agents?

• Can Anthropic Keep Growing Like This — or Will Token Spend Break the Model?

• Can AI Routing Become a $50BN Company, or Is It Just a Commodity Pipe?

• Will the AI Energy Crisis Create the Next Monster Venture Outcomes?

• Can Startups Survive Microsoft, OpenAI, and the Brutal Power of Bundling?

• Should VCs Ignore Price When Backing Generational Companies?

• Is Traditional Media Dead — and Who Becomes the New Tech Kingmaker?