Miles Clements is a Partner @ Accel where he helps to lead their growth fund. At Accel, Miles has led or invested in Atlassian, Cursor, Linear, and more. ---------------------------------------------- In Today’s Episode with Miles Clements: 0:00 - Intro 0:59 - Where is True Alpha and Value in a World of AI 2:39 - Why it is Total BS that Cursor is Dead 7:03 - Why Cursor Were Not Wrong to Build Their Own Models 7:43 - What is the Upside When Investing in Cursor at $27BN? 14:11 - Do Sub $10BN Outcomes Even Matter to a Fund the Size of Accel? 16:04 - Losing ServiceTitan: Investing Lesson Learned… 19:55 - Missing Rippling: What We Learned 29:12 - What is Accel's Win Rate 31:59 - How VCs Approach Ownership Has Changed 37:21 - Does Miles Feel Happier or Sadder to be an Anthropic Investor Post Pentagon Debacle 39:33 - What Happens to Companies Like Miro and Snyk with High Prices to Live Up To? 41:01 - Why it is a Great Time to Be Thoma Bravo and Vista 41:39 - Why Founder-Led Companies Are A...