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. ----------------------------------------------- Timestamps: 00:00 Intro 00:57 Coinbase Cuts AI Spend 50% 07:09 Is Open Source Killing Frontier Model Revenue Growth? 11:16 Token ROI Crisis: Nobody Can Show the Lift From AI Spend 17:22 Anthropic Accuses Chinese Models of Distillation 20:19 Anthropic's Real Play: Get the US Government to Ban Chinese Open Source Models 28:30 Microsoft Deep Dive: Growth Decelerating & No Standalone AI Product 33:14 Microsoft Has 30% of OpenAI But No State-of-the-Art Model of Its Own 38:51 Kalshi’s $40BN Valuation: Is This Peak Casino Economy? 41:13 Prediction Markets: Sports Betting vs Financial Betting 44:03 Spac...