# @20vc on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=9ISWVzQ85Po
- **Gondola URL:** https://gondola.cc/posts/70469325-20vc-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/dbcc5590d9.jpg
- **Posted:** 2026-09-07T13:59:48.000+00:00
- **Account Owner:** 20VC with Harry Stebbings (@20vc) — https://gondola.cc/20vc

## Caption

Jean-Denis "JD" Grèze is the Co-Founder and CEO of Town, the AI work assistant reportedly in talks to raise funding at a $1BN valuation. Before founding Town, JD spent seven years as CTO of Plaid. Before Plaid, he was Director of Engineering at Dropbox. He is also a prolific angel investor backing companies including Modal, BaseTen, Merge and NexHealth.

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Timestamps:
00:00 - Intro
02:08 - Why Town Pivoted From AI Tax to AI Assistants
04:09 - Can Town Survive Google, Apple and OpenAI?
06:14 - Why AI Assistants Could Have Network Effects
08:48 - Will Everyone Have One AI Agent or Many?
11:01 - Will We Trust AI Agents With Our Private Data?
17:16 - Are Goal-Seeking AI Agents a Feature or a Bug?
19:30 - How Town Chooses Between OpenAI, Anthropic and Open Models
22:33 - Can AI Assistant Economics Ever Reach SaaS Margins?
25:05 - Open Models vs Frontier Models: Who Gets the Workloads?
29:56 - How Should VCs Invest in the AI Assistant Race?
33:45 - Why AI Startups Can No Longer Outrun Their Competitors
39:31 - Why Apple Could Lose the AI Assistant Race
41:50 - Are AI Agents Creating a Cybersecurity Time Bomb?
43:42 - Why Token Maxing Is the Wrong AI Metric
47:46 - Consumer vs Enterprise AI: Where Does the Bigger Business Get Built?
50:06 - Is ElevenLabs Worth $22BN?
51:57 - The Biggest Risk to AI Assistant Margins
01:00:01 - Is the AI Assistant Hype Justified?
01:03:41 - Quick-Fire Round

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Subscribe on Spotify:
https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466

Subscribe on Apple Podcasts:
https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465

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https://twitter.com/HarryStebbings

Follow JD on X:
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https://www.20vc.com

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https://www.thetwentyminutevc.com/contact

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#20vc #harrystebbings #ai #founder #town #ceo #instinct #grok #aiassistant

## Stats

- **Views:** 28,270
- **Likes:** 200
- **Shares:** 0
- **Comments:** 18

## Credits

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| 20VC with Harry Stebbings | @20vc | https://gondola.cc/20vc | Podcast |

## Tags

20vc, instinct, aiassistant, harrystebbings, town, ceo, grok, ai, founder

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