VC10X - Investing, Venture Capital, Asset Management, Private Equity, Family Office

The era of the ad-free intelligent internet is officially over. Sam Altman once famously said ads were a "last resort" for AI. Well, we have reached the last resort.In this episode of VC10X, we break down OpenAI’s "Code Red" decision to introduce ads to the free tier of ChatGPT and the new "ChatGPT Go." This isn't just about banner ads; it’s a signal that the subscription-only model for AI is failing.We analyze the 3 massive drivers behind this pivot:1. The $14 Billion Hole: The projected burn rate for 2026 forced their hands2. The Apple Failure: How losing the default Siri slot to Google Gemini crushed their distribution plans.3. Sticky Revenue: Why investors now prefer "sticky" ad revenue over high-churn $20/month subscriptions.If OpenAI, the market leader, can't make the unit economics work without ads, what does that mean for every other AI startup? We discuss the bifurcation of the market into "Ad-Tech AI" and "Privacy Premium AI."TIMESTAMPS:0:00 - The Broken Promise: "I Hate Ads"1:29 - The $14 Billion Panic: Why the Math Stopped Working2:04 - Startup Lesson: Why Ad Revenue is "Stickier" than Subscriptions4:06 - Signal for investorsLINKSPrashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comSUBSCRIBE FOR MOREVC10X breaks down the most important stories in finance, tech, and markets every week. Subscribe for actionable insights.#OpenAI #ChatGPT #SamAltman #AIInvesting #TechNews #Google #VentureCapital #BusinessStrategy #ArtificialIntelligence #AdTech

In this episode, we sit down with Ashish Shanker, MD & CEO of Motilal Oswal Private Wealth, which now oversees over ₹1.9 Lakh Crore in assets under advisory. Ashish breaks down his strategy for 2026, revealing the one "non-obvious" sector poised to surprise the market, why silver might outperform gold, and how high-net-worth investors are hedging against global volatility.[Important note - This episode was recorded on December 5, 2025. Many market factors have changed since then. The content in this video is for educational and informational purposes only and does not constitute professional financial or investment advice. The views expressed by the guest are their own. Please consult with a certified financial advisor before making any investment decisions.]We dive deep into:* Why 2026 might see a fresh uptrend after 2025's consolidation.* The "capacity paradox" of managing wealth for ultra-high-net-worth families.* Actionable advice on US market diversification and pre-IPO investing rules.Timestamps:(00:00) - Episode Teaser & Introduction(02:24) - The Non-Obvious Sector to Watch in 2026(03:56) - Hedging Portfolios Against US Tariffs(07:20) - Is the Market Pricing in Too Much Perfection for 2026?(10:34) - NIFTY 50 vs. Mid & Small Caps for Long-Term Growth(11:46) - Silver: A Strategic Allocation or a Tactical Trade?(14:30) - The Gold-to-Silver Price Ratio: Is Gold Overvalued?(15:13) - Is It Time to Go 100% Aggressive on Mid-Caps?(18:21) - Impact of Rising Japanese Interest Rates on Indian Markets(22:22) - The Role of Domestic Investments in Market Resilience(24:14) - Protecting Portfolios from Rupee Depreciation(25:49) - Most Attractive Global Markets for Indian HNIs(27:35) - Investing Beyond the $250,000 LRS Limit(28:34) - Navigating the Pre-IPO and IPO Market(34:35) - The Relationship Manager (RM) Capacity Paradox(38:15) - Risk Appetite of Young Tech Founders vs. Traditional Promoters(39:47) - Is GIFT City Gaining Traction for Global Diversification?(41:09) - Physical Real Estate vs. REITs for Investment(41:57) - Essential Estate Planning Moves Before March 2026(43:21) - Ashish Shankar's Personal Investment Philosophy(44:42) - The Secret to Motilal Oswal's Success(48:05) - The Motilal Oswal Private Wealth Client Journey(51:35) - One Asset Class to Buy and Hold Until 2030(52:42) - Where to Learn More About Motilal Oswal Private WealthLinks:Motilal Oswal Private Wealth - https://www.motilaloswalpwm.com/Ashish Shanker on Linkedin - https://www.linkedin.com/in/ashishshanker23/Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries, reach out to prashantchoubey3@gmail.com

On January 12, 2026, Apple officially announced a multi-year partnership with Google to integrate Gemini models into the next generation of Siri and Apple Intelligence. This decision marks a significant pivot in the AI landscape, as Apple bypasses OpenAI for its default system integration.In this deep dive, we analyze the strategic reasoning behind this deal, the technical implications for iOS 26.4, and the data-driven factors—including declining ChatGPT usage trends—that influenced this shift. What does this mean for the future of OpenAI, and who are the true winners in the AI infrastructure race?TIMESTAMPS0:00 – The Strategic Shift: Apple Partners with Google0:39 – Deal Structure: $1B/Year & Technical Integration1:26 – The OpenAI Challenge: Usage Declines & "Code Red"2:12 – Winners & Losers: Google, Apple, Microsoft, & Anthropic2:46 – Investment Implications: The Infrastructure Play11:00 – Conclusion: The Maturation of Enterprise AIKEY ANALYSIS✅ The Deal: Apple selected Google Gemini due to proven infrastructure reliability and scaling experience (Galaxy AI), rejecting OpenAI despite early testing.✅ OpenAI's Position: The loss of default Siri integration comes amidst a ~6% weekly decline in ChatGPT daily active users, signaling a need for a B2B pivot✅ Technical Integration: Gemini will process queries via a hybrid of Apple Silicon and Google Private Cloud Compute, preserving privacy while enhancing Siri's reasoning capabilities.✅ Market Impact: This solidifies Google Cloud's position in the mobile ecosystem while challenging the "startup model" of AI deployment in favor of established enterprise infrastructure.SOURCES & DATA- Apple/Google Partnership Announcement (Jan 2026)- SimilarWeb/Analytics Usage Data (ChatGPT Trends)- Industry Reports on AI Infrastructure & Cloud ComputingLINKSPrashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comSUBSCRIBE FOR MOREVC10X breaks down the most important stories in finance, tech, and markets every week. Subscribe for actionable insights.#AppleIntelligence #GoogleGemini #OpenAI #Siri #ArtificialIntelligence #TechNews #StockMarket #MacroEconomics #GOOG #AAPL

In this episode, we sit down with Jim Curry from BuildGroup to discuss why the traditional venture capital model might be failing founders. Jim is rewriting the rules of investment with a $330 million fund backed exclusively by family offices, operating without the traditional 10-year cap. This unique "Patient Capital" structure allows BuildGroup to align with founders for the long haul, prioritizing durable growth over short-term exits.We dive deep into Jim’s background as an operator who helped scale Rackspace to $2 billion in revenue with only $25 million in funding, proving that you don't need to burn cash to build a giant. We also discuss the dangers of the "fundraising treadmill," why we are currently in a bubble era, and his contrarian take on why the future of AI lies in "Small Language Models," not just the giants.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comIn this episode, you’ll learn:- The Broken VC Model: Why the 10-year fund cycle creates misaligned incentives between investors and founders.- The Rackspace Story: How to scale to billions in revenue with extreme capital efficiency.- Patient Capital Explained: Inside BuildGroup’s $330M evergreen fund structure.- The Fundraising Treadmill: How to avoid the trap of raising too much, too fast.- The AI Bubble: Why Jim believes "Small Language Models" (SLMs) are the real opportunity for B2B businesses.- Founder Advice: The one trait Jim looks for: being a "customer of your own problem."🔗 Connect with Jim & BuildGroup:Website: https://buildgroup.comEmail: jim@buildgroup.comLinkedIn: https://www.linkedin.com/in/jimncurry/🔗 VC10X Links:Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comTimestamps:(00:00) - Introduction to Build Group's $330M Fund and Patient Capital Model(00:37) - Meet Jim Curry, Co-founder of Build Group(01:58) - How Experiences at Rackspace Inspired the Operator-First Model(03:25) - The Problem with Arbitrary 10-Year VC Fund Cycles(05:48) - The Unique Structure of Build Group's Fund(08:21) - Why Build Group Prefers to Be the Only Investor on the Cap Table(11:47) - The Challenge of Helping Companies Get Off the VC "Treadmill"(16:00) - Deployment Period and How the Investment Thesis Evolves(18:24) - Build Group's Diligence Process vs. a Typical VC(23:08) - Competing with Over-Capitalized Startups(25:17) - Lessons from Building the OpenStack Community(27:48) - Key Qualities Looked for in a Founding Team(30:55) - Harmful VC Trend: Forgetting the Lean Startup Mentality(33:18) - Why Downturns are an Opportunity for Patient Capital(35:56) - The Importance of Founders Who Genuinely Love Their Product(37:55) - The Next Foundational Tech Opportunities in AI Orchestration(40:29) - Rapid Fire Round(41:50) - Conclusion#VentureCapital #SaaS #StartupFunding #PatientCapital #BuildGroup #BusinessPodcast #AI #Entrepreneurship

A lot of people often dismissed AI advances by saying things like "tell me when it can do my laundry".Well, now, it can!Not just laundry, it can do a lot more.At CES 2026 in Las Vegas, the tech world made its biggest pivot since the smartphone, from software AI to Physical AIThis week, we break down the CES reveals that are moving artificial intelligence out of your phone screen and into your home, factory, and car:TIMESTAMPS0:00 – The CES 2026 Pivot: From Chatbots to Physical AI 0:38 – The Humanoid Invasion (Boston Dynamics Atlas, LG CLOiD) 1:20 – The New "Brains": Tesla AI5, Intel Ultra 3, NVIDIA Blackwell Ultra 2:05 – Why This Matters: Silver Squeeze Connection 10:00 – The 2026 Investment Rotation KEY TAKEAWAYS✅ Humanoids Are Here: Boston Dynamics' new Atlas uses Google DeepMind AI for real factory work. LG's CLOiD does your laundry autonomously.✅ Edge AI Chips: Tesla's AI5 is 40x faster for robot autonomy. Intel's 18A chips bring massive LLMs to your laptop.✅ The Real Driver: Physical AI explains the "Energy War" (power plants for training) and "Silver Squeeze" (conductivity for sensors) from our previous episodes.✅ Investment Shift: Money is moving from SaaS chatbots to "Hard Tech" (chips, power, materials).SOURCES- CES 2026 Live Coverage (NVIDIA, Intel, Boston Dynamics) - Elon Musk AI5 Chip Announcement - Silver Institute Industrial Demand Data - Previous VC10X episodes on Energy/SilverLINKSPrashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comSUBSCRIBE FOR MOREVC10X breaks down the most important stories in finance, tech, and markets every week. Subscribe for actionable insights.COMMENT BELOWWill humanoid robots replace your job or your maid? Let us know! #CES2026 #PhysicalAI #HumanoidRobots #TeslaAI5 #Intel #NVIDIA #MacroEconomics #Investing #Silver #EnergyTransition

In this episode, Phylicia Koh, GP at Play Ventures, explains why gaming is the new operating system for consumer engagement and how "playable apps" are transforming industries from fintech to relationship wellness.Play Ventures focuses on apps that use gaming's "live operations" and in-app economies to drive user habits. These products succeed by offering controllable outcomes, intrinsic motivators, and social elements like clans or leaderboards.In early 2025, consumer in-app purchase (IAP) officially surpassed gaming IAP revenue for the first time in history. This shift indicates a massive opportunity for founders to apply free-to-play monetization models to non-gaming consumer sectors.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comWe talk about:- Overview of the $142 million early-stage fund and its specific investment thesis.- Analysis of why consumer in-app purchase spending now exceeds gaming spending.- The four key characteristics of a successful playable app.- Insights into portfolio companies like Alinea, Bible Chat, and Aria.- The difference between adding features like streaks and building a deep meta-design.- How subscriptions compare to free-to-play models in terms of lifetime value.- The impact of AI on user acquisition and creative fatigue.- How the metaverse already exists in platforms like Roblox.- The future of product discovery and the shift away from traditional search engines.- Personal game recommendations and the evolution of the gaming audience.& lots moreTIMESTAMPS(00:00) - Consumer IAP spending exceeds gaming IAP spend(00:19) - Why you can't just slap on gamification to a product(00:59) - Introduction to Felicia Ko, General Partner at Play Ventures(02:33) - Play Ventures' thesis on "Playable Apps"(03:45) - The four characteristics of a successful playable app(06:27) - Portfolio examples of gamified consumer apps(09:45) - Market trends supporting the rise of playable apps(11:15) - Why subscriptions cap lifetime value compared to free-to-play models(12:48) - How gaming founders are applying their skills to new consumer spaces(14:25) - The right stage for a company to implement gamification(17:02) - How gamification boosts retention, engagement, and virality(18:33) - What types of games Play Ventures invests in(20:44) - The much-anticipated release of GTA VI(23:59) - What makes a game a massive success like GTA or Candy Crush?(26:00) - The importance of user acquisition and finding blue ocean markets(29:22) - Game recommendations: Monopoly Go, Whiteout Survival, Roblox, and more(32:31) - Is gaming becoming a viable career path like YouTubing?(33:30) - The average gamer is in their 30s(37:00) - Does the Metaverse already exist?(38:05) - The future of gaming and playable apps in the next 5 years(41:04) - Rapid-fire round: Play Ventures' investment strategy(42:50) - How founders can connect with Phylicia KohLINKSPhylicia Koh on X - https://x.com/ppphylPhylicia Koh LinkedIn - https://www.linkedin.com/in/phyliciakohPlay Ventures - https://www.play.vc/Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.com

Two weeks ago, silver was unstoppable. Today, investors are staring at a massive 15% drop. Headlines are calling it a "bubble burst," but the data tells a very different story.In this deep dive, we look past the panic to analyze the *real* reasons behind the crash, from the CME margin hikes to China's new export rules. We also break down the structural "Big Three" demand drivers for 2026: Solar, AI Data Centers, and Solid-State Batteries. Is this a warning to get out, or the buying opportunity of the year?TIMESTAMPS0:00 – The Flash Crash: What Just Happened?0:49 – Why It Dropped: Margin Calls & The "Paper" Flush1:39 – The New "Big Three" Demand Drivers (Solar, AI, Batteries)2:45 – The Deficit Reality: 8 Years of Shortages – Investment Strategy: How to Navigate the VolatilityKEY TAKEAWAYS✅ The "Paper" Flush: The crash was triggered by a 25% margin hike and panic over China's export licenses—not a drop in physical demand.✅ Industrial Squeeze: Solar, AI hardware, and EV batteries are consuming record amounts of silver. This demand is "inelastic"—manufacturers *must* buy it at any price.✅ Elon's Warning: Even Elon Musk has flagged silver availability as a critical risk for the future of Tesla and SpaceX.✅ Structural Deficit: The world has consumed more silver than it mined for 8 years straight. Above-ground stockpiles are down ~70% since 2021.SOURCES & DATA- CME Group Margin Requirement Data- China Export License Regulations (2026)- Silver Institute Demand Forecasts (Solar & EV Sector)- Elon Musk X/Twitter Post (Dec 26, 2025)SUBSCRIBE FOR MORE MACRO INSIGHTSVC10X breaks down the most important stories in finance, tech, and markets every week. If you want actionable insights to help you navigate this volatile economy, subscribe now.LINKSPrashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comCOMMENT BELOWAre you buying the dip, or do you think silver is heading back to $30? Let us know in the comments.#Silver #Investing #Commodities #SolarEnergy #ElonMusk #MarketCrash #Inflation #WealthProtection #MacroEconomics #SilverSqueeze

In this episode, we sit down with Rajeev Ranka from Incubate Fund, a Japanese Venture Capital firm managing over $1.5 Billion in AUM, to understand the bold decisions behind building generational companies.Rajeev breaks down the Japanese Way of investing which involves thinking in 100 year cycles. He shares why they backed Captain Fresh during the first month of the COVID lockdown and the massive decision to kill a profitable domestic arm to build a global giant.We also dive into why he believes Quick Commerce will eventually be bigger than E-Commerce, the untapped potential of Middle India, and what it takes to get a Day Zero investment from a Japanese VC.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comWe talk about:- How a Japanese VC views the Indian startup ecosystem.- The Japanese Way: Why they plan for 100 year timelines.- The Captain Fresh Pivot: Moving from a domestic player to global seafood exporter.- Why Yulu dominates 90% of the last mile delivery market.- The Middle India opportunity that most VCs are ignoring.- Red Flags & Green Flags: How to pitch Incubate Fund.Connect with Rajeev:LinkedIn: https://www.linkedin.com/in/rajeevrankaIncubate Fund Asia: https://incubatefund.in/SMBC Asia Rising Fund - https://www.smbc-asiarising.vc/VC10X links:Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.com#VentureCapital #StartupIndia #IncubateFund #JapaneseInvestment #CaptainFresh #QuickCommerce #Yulu #Entrepreneurship #BusinessPodcast

The AI race isn't about chips anymore. It's about electricity. In a massive $4.75 billion deal, Google (Alphabet) just acquired Intersect Power, a major clean energy developer, to secure the grid access its data centers desperately need.But Google isn't alone. From Microsoft restarting Three Mile Island to Amazon's massive nuclear contracts, Big Tech is panic-buying power plants.In this video, we break down why the "AI Energy Wall" is forcing tech giants to become utility companies, and what this means for the future of the power grid, nuclear energy, and your electric bill.TIMESTAMPS0:00 – Intro: Bigtech Energy War0:44 – The Deal: Why Google Bought Intersect Power for $4.75B1:30 – The "Energy Wall": AI Power Consumption vs. The Grid2:01 – BigTech Energy Contracts in 20253:21 – Who Pays? The Impact on Consumers and InvestorsKEY TAKEAWAYS✅ Google's $4.75B Bet: Alphabet acquires Intersect Power to build "behind the meter" energy projects, bypassing the clogged public grid.✅ The Energy Crisis: AI queries use 10x more power than search. By 2030, US data centers will consume 9% of all electricity.✅ Nuclear Renaissance: Tech giants are single-handedly reviving nuclear power (SMRs & restarts) because they need 24/7 reliability that solar/wind can't provide.✅ Vertical Integration: Big Tech is now owning the entire stack: from the AI model to the chip to the power plant running it.SOURCES & DATA- Google Acquires Intersect Power ($4.75B Deal)- Microsoft Restarts Three Mile Island (Constellation Energy Deal)- Amazon Signs 1.9GW Nuclear Deal (Talen Energy)- Data Center Power Demand Forecast (Bain/Bloomberg)Links:Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries reach out to prashantchoubey3@gmail.comSUBSCRIBE FOR MORE MACRO INSIGHTSVC10X breaks down the most important stories in finance, tech, and markets every week. If you want actionable insights to help you navigate this volatile economy, subscribe now.COMMENT BELOWIs Big Tech buying power plants a smart move or a dangerous monopoly? Let us know in the comments.#AI #Google #EnergyCrisis #NuclearPower #Investing #TechNews #Microsoft #Amazon #CleanEnergy #IntersectPower #MacroEconomics

In the inaugural VC10X LP Roundtable, we bring together experienced allocators Matt Curtolo & Anurag Chandra to unpack the state of venture capital as we close out 2025 and look ahead to 2026.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comTopics covered:- How the recent Fed rate cut does and does not change venture capital- Why DPI pressure has become the dominant LP concern- Venture vs private credit and when the comparison actually matters- Fundraising realities and why it now takes 18 to 30 months to raise a fund- The changing role of secondaries, continuation funds, and engineered liquidity- Why M&A, not IPOs, has historically driven most venture exits- AI as a structural opportunity or capital concentration risk- Generalist vs specialist funds and what real differentiation actually looks like- Why some LPs are staying committed to venture despite short term underperformance- The biggest mistakes allocators made in past cycles and what they won’t repeatTimestamps:(00:00) - Preview(01:08) - Introduction to the LP Roundtable(03:15) - The impact of the macro interest rate environment on venture capital.(03:55) - The limited direct effect of interest rates on early-stage innovation.(06:00) - How interest rates negatively impact SaaS company valuations and exits.(09:35) - How "higher for longer" interest rates are changing LP expectations for returns.(11:13) - The LP perspective: Balancing DPI, MOIC, and IRR in venture investing.(14:09) - The role of the exit environment and secondaries in meeting DPI pressure.(16:38) - The risks of LPs over-focusing on short-term DPI.(18:44) - The emergence of the secondary market for later-stage companies.(20:30) - Future outlook for the M&A and IPO markets as exit paths.(21:02) - Why M&A is the historical bread and butter of venture exits, not IPOs.(23:37) - Underestimating the potential scale of venture-backed exits in the new tech era.(27:35) - How early-stage funds can engineer liquidity through secondary sales.(29:24) - Gross vs. Net Returns: The difference between a good investor and a good fund manager.(30:50) - Why is it so difficult to raise a VC fund today?(31:45) - The fundraising bifurcation: Brand names vs. emerging managers.(35:10) - Career risk and structural barriers for LPs investing in smaller funds.(38:01) - Why institutions often prefer to invest in Fund III and beyond.(40:38) - How can fund managers differentiate themselves? Generalist vs. specialist.(41:46) - Differentiating as a "hustle fund" with a functional specialty (e.g., go-to-market).(45:25) - It's not about being different, it's about being better: The importance of GP-thesis fit.(48:08) - VCs should "take their own medicine" when pitching to LPs.(49:17) - Outlook for 2026: Will the venture market get easier for funds and startups?(50:05) - An optimistic outlook for 2026 driven by technological acceleration.(55:18) - The growing importance of global and emerging markets in venture capital.(55:45) - A closer look at India's booming IPO market and its contrast with the US.(57:15) - Conclusion and final thoughts.---Links to connect:Matt Curtolo - https://www.linkedin.com/in/matt-curtolo-caiaAnurag Chandra - https://www.linkedin.com/in/anchandraPrashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@vc10x Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries, reach out to prashantchoubey3@gmail.comSubscribe for weekly conversations on venture, private markets, and investing.

While everyone was watching Bitcoin crash, the quietest asset in the room just went parabolic. In December 2025, Silver prices shattered their 45-year record, soaring past $60 an ounce—a 100% gain this year alone.In this deep dive, we break down exactly why silver is exploding. It's not just a hype rally; it's a "perfect storm" of physics and finance. From the massive "Short Squeeze" breaking the paper market to the solar energy industry consuming 20% of global supply, we explain why the world is running out of the one metal it needs to go green.TIMESTAMPS0:00 - Intro: The Quiet Giant Wakes Up0:53 - The Data: Historic Breakout & Cup-and-Handle1:13 - Gold to Silver Ratio1:44 - The "Green Squeeze": Solar Panels vs. Supply Deficit2:26 - The Short Squeeze: Paper Market Breaks3:10 - Price Targets: Is It Too Late to Buy?KEY TAKEAWAYS✅ Historic Breakout: Silver broke its 14-year resistance at $50, triggering a massive technical surge.✅ Solar Demand: Modern solar panels use 120% more silver than before, creating a structural deficit that mining cannot fix.✅ Short Squeeze: Physical shortages in London and Shanghai forced traders to cover their shorts, driving prices vertical.✅ Gold-to-Silver Ratio: The ratio collapsed from 100:1 to under 70:1, signaling silver is aggressively catching up to gold.SOURCES & DATA- Price Data: Silver hits $60/oz (Dec 2025)- Industrial Demand: Solar industry consuming ~20% of global supply- Market Dynamics: Gold-to-Silver Ratio collapse & ETF inflowsSUBSCRIBE FOR MORE INSIGHTSVC10X breaks down the most important stories in finance, tech, and markets every week. If you want actionable insights to help you navigate this volatile economy, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWDo you own physical silver? Or do you think this rally will crash like 2011? Let us know in the comments.#Silver #Investing #Commodities #Inflation #SolarEnergy #ShortSqueeze #Gold #SilverSqueeze #WealthProtection #MacroEconomics

In this episode, we sit down with Maxim and Pavel from FinSight Ventures to explore their unique "secondary-first" investment strategy, which allows them to capture equity in giants like Anthropic, SpaceX, Stripe, and Palantir. We dive deep into their newly launched $50M Generative AI Index Fund, a novel product bringing index investing logic to private markets. Maxim and Pavel also break down their distinct approaches for different geographies—operating as a "fund of funds" in India while pursuing "local monopolies" and super-apps in emerging markets like Uzbekistan. Tune in to understand why they believe AI-native startups will beat incumbents and how they find alpha in inefficient markets globally.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comIn this episode, we cover:- Why the "middle" is missing in private market investing.- How to buy secondaries from early employees and liquidity-seeking funds.- The "Fund of Funds" strategy for penetrating the Indian market.- Why AI-native startups have a long-term advantage over incumbents.Companies & Concepts Mentioned:Portfolio Highlights: Zoom, SpaceX, Anthropic, Palantir, Stripe, Razorpay, Medibuddy.Concepts: Secondary Markets, Index Funds, Super Apps, Fund of Funds, DPI (Distributed to Paid-In Capital).Links -FinSight Ventures - https://www.finsightvc.com/Maxim - https://www.linkedin.com/in/nazarovmaxim/Pavel - https://www.linkedin.com/in/pavelgurianov/Website: https://VC10X.comLinkedIn: https://linkedin.com/in/choubeysahabTimestamps:(00:00) - Finsight's unique value proposition in securing competitive deals.(00:23) - Finsight's secondary-first strategy for its growth stage portfolio.(00:41) - Adapting investment strategies to find alpha in different markets.(01:30) - Episode introduction and sponsor message.(03:12) - Finsight's core investment thesis across diverse global markets.(04:46) - The logic behind Finsight's $50 million generative AI index fund.(06:10) - How the growth of secondary markets enables an index fund strategy.(07:28) - Securing allocations in category-defining companies like Anthropic and SpaceX.(09:09) - Who sells in the secondary market: employees vs. VCs.(10:15) - How Finsight sources secondary deals from individual employees.(12:00) - Finsight's specific investment angle and focus in the Indian market.(15:05) - Comparing the US secondary approach vs. the India fund-of-funds model.(16:49) - The philosophy of finding alpha by understanding a fund's strengths and weaknesses.(18:10) - Key trends in enterprise AI adoption and the shift to sustainable revenue.(22:09) - How to judge the stickiness and sustainability of an AI startup's revenue.(24:03) - Using gross margin as an indicator of a product's ROI.(25:17) - The conviction behind investing in Uzum, Uzbekistan's first unicorn.(27:40) - Insights into building a global VC firm with diverse strategies.(30:59) - Evaluating Anthropic in the competitive landscape of large language models.(34:36) - The biggest misconceptions about Finsight's global investment strategy.(38:21) - Start of the Rapid Fire Round.For sponsorship or guest appearance requests, write to prashantchoubey3@gmail.comSubscribe to VC10X on Youtube, Spotify, Apple Podcasts.#VentureCapital #GenerativeAI #SecondaryMarket #Investing #SpaceX #Anthropic #IndiaStartupEcosystem #PrivateEquity #TechInvesting

Global bond yields are quietly climbing again in late 2025—even as central banks start cutting short‑term rates. In this video, we break down what’s actually happening in the bond market, why the 10‑year government bond is so important, and what higher yields could mean for stocks, startups, real estate, and your portfolio.Using simple charts and real numbers, we explain concepts like term premium, bear steepening, and duration in plain English, then walk through a few realistic scenarios for 2026 instead of doomsday predictions.Key Takeaways- Long‑term government bond yields in major markets have moved higher again, as investors demand more compensation for inflation and fiscal risk.- This raises the discount rate used to value long‑duration assets like growth stocks and startups, putting pressure on high multiples even if earnings look strong.- At the same time, short‑term bonds and cash‑like instruments now offer attractive yields, so investors finally have genuine fixed‑income alternatives to equities.Glossary – Financial Terms Explained- Yield: The annual return you earn from a bond, expressed as a percentage of its price. If price falls, yield rises, and vice versa.- Basis Point (bps): One‑hundredth of a percentage point. 50 bps = 0.50%. Useful for talking about small rate moves precisely.- Risk‑Free Rate: The yield on high‑quality government bonds (often the 10‑year US Treasury), used as the baseline return investors can get with very low credit risk.- Yield Curve: A line that shows bond yields from short maturities (e.g., 3‑month) to long maturities (e.g., 30‑year). It summarizes market expectations for growth and inflation over time.- Bear Steepening: A situation where long‑term yields rise faster than short‑term yields. It usually signals markets are worried about future inflation, debt, or growth risks.- Term Premium: The extra yield investors demand for locking money into long‑term bonds instead of rolling short‑term ones. It rises when there’s more uncertainty about inflation, deficits, or who will buy all the new debt.- Duration: A measure of how sensitive a bond (or stock-like asset) is to interest‑rate changes. Higher duration = bigger price swings when yields move.- Investment‑Grade Bond: Debt issued by governments or companies with strong credit ratings, viewed as relatively low default risk.- High‑Yield / Junk Bond: Debt from weaker issuers with higher default risk. They pay higher yields to compensate investors for that risk.- Discount Rate: The interest rate used to convert future cash flows into today’s value. When this rate goes up, the present value of distant cash flows (like future startup profits) goes down.SUBSCRIBE FOR MORE VC & STARTUP STRATEGYVC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWHow do you think this will play out in 2026?#BondMarket #InterestRates #Investing #StockMarket #Finance #Economics #FederalReserve #BondYields #10YearTreasury #MacroEconomics #MarketAnalysis #PassiveIncome #BearSteepening

In this episode, we sit down with Caitlyn Krebs, Co-founder and CEO of Nalu Bio, to discuss how her company is leveraging generative AI to revolutionize drug discovery. Caitlyn shares how they are creating novel chemical entities five times faster than traditional methods to tackle massive unmet needs like endometriosis and post-surgical pain.We also dive deep into the business of biotech: the looming $250 billion "Patent Cliff" facing big pharma, the reality of the fundraising "rollercoaster," and why bringing innovation back to the US is critical for the industry's future.If you are interested in the intersection of AI and biology, the future of pain management, or the grit required to build a life sciences startup, you won't want to miss this conversation.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comKey Topics Covered:- The Next GLP-1? Why the endocannabinoid system is the largest regulator in the human body.- AI in Biotech: How Nalu Bio uses "digital twins" and virtual patients to de-risk drug development.- The $250B Opportunity: Understanding the massive patent cliff approaching the pharma industry.- Women's Health: Solving endometriosis with non-hormonal, non-opioid therapeutics.- Founder Resilience: Caitlyn’s story of a lead investor walking away at the final document stage and how she bounced back.- Building Moats: How to protect IP and technology in a competitive market.Connect with Caitlyn & Nalu Bio:* Website: https://nalubio.com* LinkedIn: https://www.linkedin.com/in/caitlynkrebs* Email: caitlyn@nalubio.comVC10X website - https://VC10X.comDon't forget to LIKE, SUBSCRIBE, and turn on notifications for more deep dives into the future of technology and healthcare!#Biotech #AI #DrugDiscovery #Endometriosis #Startup #NaluBio #HealthTech #Entrepreneurship #GLP1 #Pharma

Two years ago, Google declared a "Code Red" because of ChatGPT. Now, the tables have turned. On December 1st, 2025, Sam Altman sent a panic memo to OpenAI staff, declaring a "Code Red" to fix ChatGPT as traffic plunges for the first time in history.In this deep dive, we break down why OpenAI is suddenly losing the AI war to Google's Gemini and the viral "Nano Banana" tool. We analyze the 6% user drop that terrified Sam Altman, the massive $500 Billion valuation bubble that could burst, and why OpenAI's lack of a "moat" is finally catching up to them.KEY TAKEAWAYS✅ Why ChatGPT traffic is down 6% in just two weeks✅ The viral success of Google's "Nano Banana Pro" vs. OpenAI's expensive Sora✅ The risk behind OpenAI's $500 Billion valuation and $20B ARR target✅ Why top talent like Mira Murati is leaving OpenAI✅ How Google's infrastructure advantage (TPUs, Data Centers) is finally winningTIMESTAMPS:(0:00) - Intro(0:51) - Why the sudden panic?(1:23) - Nano Banana Pro threat(1:39) - Google's infrastructure edge (2:01) - The burden of massive valuation(2:28) - Heavy reliance on consumer subscriptions(2:50) - Chaos in product roadmap(3:39) - Empire strikes back(4:21) - Is this the end for Chatgpt?SOURCES & DATA- SimilarWeb Traffic Data: ChatGPT down 6% daily active users- The Information: "Sam Altman Declares Code Red"- Valuation Data: OpenAI at $500B vs SpaceX at ~$200BSUBSCRIBE FOR MORE VC & STARTUP STRATEGYVC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWHave you switched to Gemini or are you loyal to ChatGPT? Let us know in the comments.#OpenAI #ChatGPT #GoogleGemini #SamAltman #ArtificialIntelligence #TechNews #VentureCapital #CodeRed #StartupStrategy

Fundraising used to be a relationship business. Now, it’s a volume game.In this episode, we sit down with the founder of Aduro Advisors to unpack the data behind the current venture capital landscape. With $131 Billion+ in assets under administration across 650+ firms, they have a bird’s-eye view of the market that few others possess.We dive deep into the "haves vs. have-nots" dynamic in VC, why the era of the generalist firm might be ending, and the exact operational mistakes that stop emerging managers from scaling. If you are raising a fund or managing a firm in 2025, you need to hear this.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comTopics covered:- Shift to Solo GPs: The rise of individual managers over large platforms.- Fundraising Reality: Why raising capital is now a volume-based "numbers game."- Market Polarization: The widening gap between the "haves" and "have-nots."- Specialization Wins: Why LPs favor sector-focused funds over generalists.- The 100% Rule: Data showing funds that invest 100%+ of capital outperform.- Smaller Funds: The strategic advantage of "right-sized" funds for faster returns.- Individual Investors: The massive influx of High Net Worth individuals into VC.- AI & Operations: Using AI to automate fund administration and data reporting.About the Guest:Aduro Advisors is a premier fund administration firm supporting over 650 venture capital and private equity firms with more than $131 Billion in assets under administration. Their platform, FundPanel, leverages data and AI to streamline operations for the next generation of investors.Timestamps:(00:00) - Introduction and episode overview(00:02:43) - Inspiration behind founding Aduro Advisors(00:04:25) - Major shifts in fund operations and data flow(00:05:58) - Aduro Advisors' data insights on fund performance and market recovery(00:09:48) - Evolution of fund sizes and LP composition(00:11:22) - Common mistakes made by first-time fund managers(00:12:40) - The importance of sector specialization versus diversification for LPs(00:17:24) - Surprising findings from Aduro Advisors' Q2 2025 report(00:20:16) - Longevity of firms and the "haves and have-nots" dynamic(00:23:09) - Characteristics of top-decile performing funds(00:25:48) - How Fund Panel streamlines fund administration and reporting(00:27:17) - The role of AI in fund administration(00:30:38) - Changes in fundraising approach post-pandemic(00:32:23) - Biggest opportunities for innovation in fund operations(00:33:54) - Where to learn more about Aduro Advisors and Fund PanelLearn more about Aduro Advisors:Website: https://aduroadvisors.com/FundPanel: https://fundpanel.io/VC10X links:VC10X website - https://VC10X.comFollow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab#VentureCapital #Fundraising #PrivateEquity #EmergingManagers #StartupInvesting #AduroAdvisors

On November 25th, 2025, Nvidia did something they've never done before: they publicly defended themselves. After reports broke that Meta is negotiating a multi-billion dollar deal to buy Google's AI chips instead of Nvidia's GPUs, Nvidia posted a defensive tweet claiming they're "a generation ahead" of ASICs like Google's TPUs.But if Nvidia is so far ahead, why are they tweeting about it? And why is Meta—their second-largest customer—trying to break free?In this deep dive, we break down the secret war for AI chips, analyze Nvidia's "panic tweet" line by line, and explain why Google is now racing toward a $4 trillion valuation while Nvidia's monopoly crumbles.TIMESTAMPS(0:00) Nvidia's Defensive Tweet(0:45) The Meta Betrayal: Google TPU Deal Explained(1:45) Google's $4 Trillion Comeback & Why TPUs Win(2:44) Is Nvidia in Trouble?(3:14) The Verdict: Confidence or Desperation?KEY TAKEAWAYS✅ Why Meta is negotiating to lease and buy Google TPUs starting in 2026✅ The hidden weakness Nvidia accidentally revealed in their tweet✅ How Google's "ASICs" are 30% faster and 60% more energy-efficient✅ Why spending $50 billion/year makes efficiency matter more than versatility✅ The end of Nvidia's monopoly pricing powerTHE TWEET BREAKDOWNWe analyze Nvidia's November 25th response where they claim superiority over "ASICs" (Google's TPUs), why this is defensive PR, and what it reveals about the shifting power dynamics in AI hardware.SUBSCRIBE FOR MORE VC & STARTUP STRATEGYVC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWIs Nvidia's tweet confident or desperate? Who wins the battle for Meta: Jensen Huang or Sundar Pichai? Let us know in the comments.#Nvidia #Google #Meta #AIChips #TPU #JensenHuang #SundarPichai #TechNews #VentureCapital #Alphabet

What does it really take to scale a B2B software company from early traction to a category leader? In this episode, Maitlan Cramer, Managing Director at Bow River Capital, breaks down the "Capital Plus" playbook used to manage roughly $4.7 billion in assets across the firm.Maitlan moves beyond the typical VC advice, explaining why growth equity is about "rolling up your sleeves" to fix broken processes rather than just writing checks. He shares why he will always choose a great market over a great product, how to distinguish between vanity growth and sustainable revenue, and why founders need to stop fearing the "growth equity" label.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comWHAT YOU'LL LEARN:📒The Growth Equity Playbook: How investing at the growth stage differs from early-stage VC.📉 Market over Product: Why you can fix a bad company, but you can’t fix a bad industry.🚩 Red Flags: How to spot "unhealthy growth" and vanity metrics before they kill your business.🤝 Sales & Talent: Why Maitlan hires for "grit" over resumes, and how to rebuild a C-Suite.🤖 The AI Wave: How artificial intelligence is reshaping retention, moats, and software pricing.TIMESTAMPS(00:00) - Let's start(00:41) - Introduction to Maitlan Cramer and Bow River Capital(02:36) - Maitlan's journey from Grant Ventures to managing $4.7B fund(04:18) - Stage of investment and growth equity vs buyout approach(05:11) - Majority ownership and buyout strategy explained(06:48) - Misconceptions founders have about growth equity capital(08:07) - Board involvement across different software verticals(08:24) - Case study: Altvia and building go-to-market motion(12:45) - Case study: HR Soft and restructuring the C-suite(15:43) - Impact of AI on competitive advantages and moats in software(16:33) - Assessing competitive advantage through customer calls(20:15) - AI strategy and data flywheel effects(23:29) - Great market vs great product investment philosophy(24:45) - Key operational metrics beyond revenue growth(27:38) - Bootstrap vs venture-backed investment opportunities(30:41) - Trends in customer acquisition costs and retention metrics(33:32) - Identifying and hiring great sellers(38:19) - Biggest learning: trusting the process(41:12) - Rapid fire round begins(41:24) - Sectors and regions of investment(43:03) - Typical stage and revenue range for investments(44:04) - Ownership targets in portfolio companies(45:07) - Typical check size and capital deployment(46:15) - How founders can get in touch(46:45) - Where to follow Maitlan and Bow River Capital(47:05) - Closing remarksABOUT THE GUESTMaitlan Cramer is a Managing Director at Bow River Capital, a Denver-based alternative asset manager. The firm manages approximately $4.7 billion in assets and operates across seven private fund platforms. Maitlan leads investments for the Software Growth Equity team, focusing on majority-control recapitalizations and buyouts of mission-critical B2B software companies.CONNECT WITH USWebsite: https://VC10X.comBow River Capital: https://www.bowrivercapital.com/Maitlan Cramer on LinkedIn: https://www.linkedin.com/in/maitlan-cramer-b797a744#GrowthEquity #SaaS #PrivateEquity #Investing #Startups #BowRiverCapital #BusinessPodcast

India's IPO market has completely lost its mind. Groww is worth more than the Bombay Stock Exchange (as of 18th Nov '25 the date of recording). PhysicsWallah is losing ₹243 crore but got a 33% listing pop. And companies are literally moving their headquarters from the US to India just to IPO here. What's going on?In this deep dive, we expose the wild world of Indian startup IPOs. You'll discover how companies magically become profitable right before going public, why retail investors are gambling billions on unprofitable startups, and the shocking "reverse flip" trend where unicorns are abandoning Silicon Valley for Mumbai's markets. This is the untold story of the biggest IPO boom and potential bubble in the world right now.Note- The video was recorded on 18th Nov '25, all numbers and stock prices are true to that date.Disclaimer: This video is for educational and informational purposes only and is not financial advice. Please do your own research or consult a registered financial advisor before making investment decisions. The creator is not responsible for any profits or losses resulting from investment decisions.KEY TAKEAWAYS:✅ How Groww became worth more than the 150-year-old Bombay Stock Exchange✅ Why PhysicsWallah got a 33% listing gain despite losing ₹243 crore✅ The accounting tricks companies use to become "profitable" before IPOs✅ Why 70+ startups are moving from US/Singapore to India (reverse flipping)✅ India vs USA IPO markets: lower requirements, higher valuations, unlimited appetiteFEATURED COMPANIES:Groww: ₹1.1 lakh crore valuation (more than BSE itself on 18th Nov '25)Lenskart: Years of losses, then ₹297 crore profit in FY25—just before IPOPhysicsWallah: Loss-making but 33% listing gainsPine Labs: 2.5x oversubscribed despite unclear profitabilityZomato, Paytm, Nykaa, Ola Electric: The cautionary talesTIMESTAMPS:(0:00) Introduction(0:33) Groww IPO(1:54) Lenskart IPO(2:36) Pine Labs IPO(3:15) Physicswallah(4:51) Why & how do companies turn profitable just before the IPO?(6:51) Class of '21 - Zomato, Paytm, Nykaa(9:45) India vs USA IPO Markets(10:46) Reverse Flipping(12:04) Why are companies reverse flipping to India?(13:11) Is indian IPO market visionary or plain crazy?(13:58) ClosingSUBSCRIBE FOR MORE VC & STARTUP STRATEGYVC10X breaks down the most important stories in tech, startups, and investing every week. If you want actionable insights to help you build or invest in the next great company, subscribe now.LET'S CONNECTWebsite: https://VC10X.comX / Twitter: https://x.com/choubeysahabLinkedIn: https://linkedin.com/in/choubeysahabCOMMENT BELOWIs India's IPO market the future or a bubble waiting to pop? Have you invested in any of these companies? Let us know in the comments.#IndiaIPO #Groww #PhysicsWallah #Lenskart #StartupIndia #VentureCapital #IPOMarket #RetailInvesting #ZomatoIPO #PaytmIPO

In this episode, we sit down with a true legend of the tech and investing world, Fabrice Grinda, Founding Partner at FJ Labs. With a track record that includes founding the global classifieds giant OLX (used by 350M+ people), achieving over 350 exits as an investor, and being named the #1 Angel Investor by Forbes, Fabrice shares a masterclass on what it takes to win in the world of startups.We dive deep into his incredible journey, from leaving McKinsey at 23 to chasing his entrepreneurial dream, to the bold "spaghetti on the wall" strategy of launching OLX in 100+ countries simultaneously.Fabrice gets candid about nearly going bankrupt, borrowing money on his credit cards to make payroll, and the resilience it took to build a company to $200 million in revenue.You'll also hear the untold story of how he tried to buy the "Alibaba.com" domain from a then-unknown Jack Ma, and the pattern recognition that allowed him to become an early investor in future giants like Alibaba, Airbnb, and Flexport.If you're an entrepreneur, investor, or just fascinated by what it takes to build and identify world-changing companies, this conversation is packed with priceless insights.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comVC10X website - https://vc10x.comFJ Labs website - https://fjlabs.com/Fabrice Grinda on LinkedIn - https://www.linkedin.com/in/fabricegrinda/🎙️ Hosted by Prashant ChoubeyFollow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahabWe talk about -- Why Fabrice left a prestigious job at McKinsey to become a founder.- The high-risk strategy that made OLX a global phenomenon.- Lessons from nearly losing everything and bouncing back stronger.- The key traits that separate successful companies from those that fail.- His contrarian take on the current AI bubble and where the real opportunities lie.- The future of marketplaces and the next trillion-dollar opportunities.Timestamps:(00:00) - Introduction(03:02) - Journey from McKinsey to becoming an entrepreneur(04:48) - OLX's global expansion strategy and market selection(07:33) - Fundraising approach and VC backing for OLX(09:44) - Building Zingy to $200M revenue after near bankruptcy(11:16) - Bootstrapping Zingy with small incremental raises(12:32) - Transition from operator to investor(14:16) - Being named #1 angel investor by Forbes(16:11) - Framework for evaluating marketplace opportunities(17:32) - Pattern recognition in successful vs failed companies(19:09) - Current marketplace market conditions and valuations(22:30) - How AI is changing purchasing behavior in marketplaces(24:42) - Why B2B marketplaces are compelling now(26:18) - AI's impact on marketplace defensibility and network effects(27:41) - Early investments in Alibaba, Airbnb, and Flexport stories(29:58) - Cross-border marketplaces and live commerce trends(32:27) - International arbitrage and business model innovation(34:10) - Solving the chicken and egg problem in marketplaces(36:00) - Take rates in marketplaces from early to mature stages(39:12) - Marketplace monopolies and pricing power(41:06) - Zomato's valuation and public market implications(45:45) - Biggest hurdles for marketplace founders today(46:35) - Contrarian belief: Investing in marketplaces over AI(48:08) - Rapid fire: Investment sectors, stages, and check sizes(49:26) - How to reach Fabrice and closing remarksFor sponsorship or guest appearance requests, write to prashantchoubey3@gmail.comSubscribe to VC10X on YouTube, Spotify, and Apple Podcasts.#FabriceGrinda #AngelInvesting #Marketplaces #OLX #StartupStory #VentureCapital #Alibaba #Entrepreneurship #TechInvestor #FJlabs