{"id":202278,"date":"2026-04-02T13:37:00","date_gmt":"2026-04-02T17:37:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/04\/02\/20vc-x-saastr-anthropics-10-trillion-parameter-leak-openai-kills-sora-masas-40b-bridge-loan-and-why-the-cybersecurity-panic-is-backwards\/"},"modified":"2026-04-04T19:15:25","modified_gmt":"2026-04-04T23:15:25","slug":"20vc-x-saastr-anthropics-10-trillion-parameter-leak-openai-kills-sora-masas-40b-bridge-loan-and-why-the-cybersecurity-panic-is-backwards","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/04\/02\/20vc-x-saastr-anthropics-10-trillion-parameter-leak-openai-kills-sora-masas-40b-bridge-loan-and-why-the-cybersecurity-panic-is-backwards\/","title":{"rendered":"20VC x SaaStr: Anthropic\u2019s 10-Trillion-Parameter Leak, OpenAI Kills Sora, Masa\u2019s $40B Bridge Loan, and Why the Cybersecurity Panic is Backwards"},"content":{"rendered":"

20VC x SaaStr: Anthropic\u2019s 10-Trillion-Parameter Leak, OpenAI Kills Sora, Masa\u2019s $40B Bridge Loan, and Why the Cybersecurity Panic is Backwards<\/a><\/p>\n

https:\/\/www.saastr.com\/20vc-x-saastr-anthropics-10-trillion-parameter-leak-openai-kills-sora-masas-40b-bridge-loan-and-why-the-cybersecurity-panic-is-backwards\/<\/a><\/p>\n

Publish Date: 2026-04-02 13:37:00<\/a><\/p>\n

Source Domain: www.saastr.com<\/a><\/p>\n

Author: <\/a><\/p>\n

Using an unordered list, summarize the following article with between 4 and 8 key points.
\n\t\t\t\t\tWith Harry Stebbings, Jason Lemkin, and Rory O\u2019Driscoll<\/p>\n

Anthropic accidentally leaked 3,000 unpublished assets about Claude Mythos, a 10-trillion-parameter model so powerful they weren\u2019t planning to release it yet.
\nOpenAI killed Sora months after calling it the future, admitting a massive strategic own goal.
\nMasa Son took out a $40 billion bridge loan to buy more OpenAI stock at 2x leverage.
\nCybersecurity stocks cratered 6-9% on the Mythos news.
\nAnd the entire AI startup ecosystem is triple-counting the same tokens as ARR.<\/p>\n

Meanwhile, Oura is going public, Whoop raised $500M at $10B, Epic Games laid off 25% of its workforce, the Manus founders are trapped in China after the Meta acquisition, and the Ron Conway \/ Matthew Prince exchange crystallized everything wrong with how VCs think about \u201cadding value.\u201d<\/p>\n

This was one of the meatiest episodes yet. Here are the key takeaways.<\/p>\n

Top Takeaways
\n1. The Anthropic Mythos Leak Is Embarrassing. It\u2019s Also a Preview of Our Future.
\nAnthropic accidentally published 3,000 assets related to Claude Mythos \u2014 a 10-trillion-parameter model with step-change capabilities, particularly in cybersecurity detection. They blamed human error. Someone staged content in a CMS for a future launch date and forgot to lock it down.
\nJason\u2019s take: this is going to happen constantly now, and not just at Anthropic. \u201cThe faster we vibe code, the faster we ship, the more corners we cut on application-level security. So many folks are accidentally uploading code to insecure GitHubs, to Supabases that are open by default. This is accelerating.\u201d
\nThe math is brutal. Even if AI agents make security mistakes 10% as often as humans, they\u2019re a thousand times more productive. That\u2019s still a hundred times more mistakes. \u201cAgents are goal-seeking,\u201d Jason said. \u201cThey\u2019re going to make not only the same mistakes as humans, they\u2019re going to work a thousand times faster.\u201d
\nRory added the irony: \u201cYou had the situation where a model that\u2019s meant to be amazing for cybersecurity actually leaks via a cybersecurity leak.\u201d Anthropic blamed human error \u2014 and as Rory noted, \u201cWe may be at the stage where we throw the humans under the bus, not the AI anymore.\u201d
\nJason drew a parallel to his time at Adobe, where putting source code in the cloud was banned because the code was the crown jewel. They got the first exemption to use GitHub. Releases went from taking a month to taking hours. That speed came with tradeoffs. Now Anthropic \u2014 the fastest-growing enterprise company of all time \u2014 is shipping massive releases every month and dropping features daily. \u201cThere\u2019s tradeoffs there. I\u2019ll take them. But we\u2019re going to see this explode.\u201d
\nThe three things leaked about Mythos: it\u2019s significantly more powerful than current models, it\u2019s going to be much more expensive to serve (and therefore to buy), and it has a particular focus on cybersecurity detection.
\n2. OpenAI Killing Sora Is a Massive Strategic Retreat \u2014 and Probably the Right Call
\nOpenAI killed Sora. Less than five months after positioning it as a cornerstone product, they shot it in the head. Sora reportedly made single-digit millions in revenue while consuming enormous compute resources.
\nHarry framed this as OpenAI \u201cwandering around the product desert trying to find some water\u201d while Anthropic accelerates. Jason pushed back on the narrative being overdone on both sides, but agreed the substance is damning: \u201cI think it\u2019s saying that a big part of the whole strategic direction of the company was flawed. The whole \u2018we are going all in on consumer\u2019 \u2014 Sora made single-digit millions of revenue and was consuming a million a week, which actually sounds way too low. It must have consumed billions and made single-digit millions.\u201d
\nThe broader context: if you want to own the whole consumer AI experience, you need to own image and video generation. Anthropic never even attempted it. So killing Sora is \u201ca massive retreat. It doesn\u2019t mean it\u2019s wrong \u2014 it\u2019s probably the right decision. But man, that\u2019s a \u2018our strategy was wrong\u2019 moment. A huge own goal.\u201d
\nRory provided the economic framework: \u201cIn a world of scarce compute \u2014 and astonishingly, despite all the investment, we\u2019re in a scarcity mode \u2014 you don\u2019t devote compute to things that are highly compute-intensive and low-revenue-intensive. Sora was almost the definition of that. Video generation is extraordinarily compute-intensive and the revenue is almost minuscule. Conversely, codegen, while compute-intensive, is orders of magnitude less so, and there\u2019s real dollars attached to it.\u201d
\nHis conclusion: \u201cYou\u2019re seeing the economists, the accountants have wandered into the room and they said, \u2018We have a scarce resource here. Let\u2019s optimize it. Let\u2019s devote this compute to the people who can pay the most for it.’\u201d
\n3. OpenAI Has Exactly Two Existential Bets Left. Ads and Coding.
\nJason laid out the only two things that matter for OpenAI now: ads to make the consumer business work, and enterprise\/coding to compete with Anthropic.
\nThe consumer math: OpenAI\u2019s conversion rate runs roughly 5%. That gets them to a $10-15 billion consumer business out of 500 million uniques. \u201cEither A, they take that conversion rate to a number we\u2019ve never seen before from a typical consumer business \u2014 I think that\u2019s unlikely, I don\u2019t think most consumers are going to pay 20 bucks a month for this \u2014 or option B is you make an ad business work.\u201d
\nOn the $100M in ads OpenAI just hit: \u201cPeople are kind of ragging on the hundred million. It\u2019s in the noise. It\u2019s scale. Big picture: Facebook and Google each do $200 billion plus or minus a year in digital ads. If these guys aren\u2019t doing $20 billion within a couple years, they\u2019re not even in the game.\u201d
\nTo grow into anything resembling their valuation on the consumer side, Jason argued they need $50-70 billion in ads. \u201cSo unlike Sora, this is not going to be a \u2018try the ads and then fold.\u2019 This is existential.\u201d
\nThe good news, in Jason\u2019s view: \u201cAt least they\u2019ve gone from \u2018let\u2019s wander around the woods feeling cool building Sora\u2019 to \u2018there\u2019s only two things to do. Let\u2019s get them done.\u2019 It\u2019s net net a positive. Better late than never.\u201d
\n4. The Sam Altman Leadership Drama Is Reaching a Breaking Point
\nThe Wall Street Journal published a deep piece this week on why Dario Amodei left OpenAI. Greg Brockman recruited the Amodei siblings, but neither would work for or talk to Brockman. Sam had to constantly tell each faction they were in charge \u2014 told Dario he was the boss, told Ilya and Greg they could fire Dario at any time.
\nJason was exhausted by it: \u201cThen begging Dario to come back. Then Dario saying he would stay only if he directly reported to the board and nobody else. Then firing Sam, then bringing him back. Then Sora. Then \u2018we\u2019re not doing coding.\u2019 I\u2019m exhausted.\u201d
\nHis bigger point: \u201cWhen you\u2019ve worked at or observed startups where the CEO is spending so much of their time load-balancing talent that can\u2019t work together versus when you\u2019ve worked at one where the talent\u2019s rowing in the same direction \u2014 to say it\u2019s night and day would be an understatement.\u201d
\nHarry proposed that OpenAI should buy Sierra, bring in Brett Taylor as day-to-day CEO, and let Sam be the fundraiser. Jason agreed privately but wouldn\u2019t say it publicly because he doesn\u2019t want Sam to \u201cbreak my balls.\u201d
\nRory\u2019s framing was sharper: \u201cThat amount of board-level and senior team-level turnover over an extended period of time is probably the highest warning signal that you could have as a board member about how your CEO is doing. If it was anything other than a founder company and this level of drama was going on, you\u2019d probably be sitting down with the CEO and asking, \u2018How\u2019s it going?’\u201d
\n5. Masa Son\u2019s $40B Bridge Loan Is Aggressive Even by His Standards
\nSoftBank took out a $40 billion bridge loan to buy more OpenAI stock. SoftBank Group is levered roughly 2x on equity. A 30-40% decline would wipe them out.
\nRory ran the numbers: \u201cIt would be like me taking our $800-900 million venture fund, borrowing $1.8 billion, and investing it all. If it works, I really juice my return. But if it goes wrong by 30%, I\u2019m done.\u201d
\nThe precedent Masa leans on: he survived the 2002 crash when the NASDAQ declined 85%. \u201cYou haven\u2019t lived till you\u2019ve seen an 85% decline in an index,\u201d Rory noted.
\nJason offered the counter-argument: if venture had access to more debt, most investors would lever up too. Real estate funds load up on leverage by design. But Rory pushed back: \u201cReal estate funds load up because the cash flows are predictable. The SoftBank portfolio is more like Jason\u2019s fund than it is a real estate fund.\u201d
\nThe two big assets in SoftBank Holdings are the OpenAI position and the ARM position. Both world-class companies. Both easily imaginable declining 30% from peak.
\n6. The Cybersecurity Panic Is Backwards \u2014 This Is a Golden Age
\nCrowdStrike, Palo Alto, and Zscaler dropped 6%. Okta and Netskope fell 7%. Tanium dropped 9%. All on the Mythos leak.
\nJason\u2019s view: the market has this completely backwards. \u201cIf you\u2019re in the agentic world, this is the golden age of security. The number of security threats and issues is going up orders of magnitude. Claude leaking its source code \u2014 it doesn\u2019t matter. The number of apps exploding, built by agents in unpredictable ways, folks not looking at the code, the pace of features being shipped, corners being cut. This is a golden age.\u201d
\nThe cybersecurity industry\u2019s entire business model has always been: new threats keep emerging, so you have to keep buying new products. Agents running 24\/7 with root access to enterprise systems create an entirely new threat surface that nobody has fully figured out how to defend yet.
\nRory agreed with the thesis but added nuance: \u201cInstead of having people trying to get into your firewall, everyone\u2019s now downloading an agent, giving it full root access to their computer, and telling it, \u2018Have a go. And work overnight.’\u201d He said his team has been looking at agent security companies and \u201cno one yet knows the exact approach we\u2019re going to take to defend against agents running within the organization, but everyone 100% understands that this is an emerging mega-threat.\u201d
\nJason was blunter: \u201cThe fact that the market doesn\u2019t see it shows we\u2019re in a true panic, which is hard to predict a bottom for. Everyone should be benefiting when you see an explosion in application production and a change in the paradigm.\u201d
\nRory noted that Anthropic is also playing great marketing here \u2014 releasing Mythos first to CISOs within companies and essentially saying: \u201cThis is the new terrifying weapon we\u2019ve invented. Please give us a million dollars and we\u2019ll let you defend yourself with it.\u201d
\n7. AI Revenue Accounting Is Getting Ridiculous \u2014 and Nobody Cares Yet
\nBoth Anthropic (~$19B ARR) and OpenAI (~$25B ARR) use a reasonable methodology: trailing four-week average revenue multiplied by 13 (the number of four-week periods in a year). That\u2019s actual GAAP revenue flowing through the system, not commitments or bookings.
\nThe wrinkle: OpenAI reports net on partner revenue (stripping out Microsoft\u2019s cut), while Anthropic reports gross (counting the full $100 before giving $20 back to Amazon as cost of sales). Two different methods for the same economic activity.
\nBut the bigger problem Jason flagged: the entire AI ecosystem is double and triple-counting the same tokens. \u201cCursor is selling them again and recognizing the revenue. The same people keep reselling these tokens again and again and recognizing them as their own ARR. How many times do we get to resell these poor little tokens?\u201d
\nRory took it further: \u201cIf we all agree to have essentially 0% gross margins, an infinite number of us can keep reselling tokens to each other. This is our new 20VC Scale Faster Demo Day. We all resell a million tokens to each other in the first week. So everyone in batch 001 has a million ARR its first week.\u201d
\nThe punchline: \u201cUntil we all have to get profitable, all this can continue. And then at some point, someone\u2019s going to have to say, \u2018Assuming we want to have a net present value and a cash flow\u2026 what\u2019s going on here?’\u201d
\nJason also called out the free-trial-to-paid trick that many AI startups use: immediately putting users on a $0\/month free trial that converts to $20\/month, then recognizing all $240 in ARR from day one. \u201cI didn\u2019t love the way they do the billing. But we\u2019d probably have to shoot half our portfolio companies that do PLG AI, because I think it\u2019s a suspect practice.\u201d
\n8. Oura Going Public and Whoop at $10B \u2014 Hardware Is Defensible Again
\nOura filed to go public. Whoop raised $500M at a $10B valuation. Both are consumer health data companies with recurring subscription revenue.
\nJason\u2019s prediction from earlier episodes that 2027 would be the year for human healthcare data and longevity may be coming true ahead of schedule. Harry noted: \u201cIt looks like it might even be 2026.\u201d
\nRory made the structural point: \u201cThese are fundamentally standalone products with a clear consumer value proposition. They\u2019re not going to be vibe-coded on Friday.\u201d
\nJason raised the durability question: \u201cThese are recurring revenue products with fairly expensive subscriptions. They\u2019re exciting until \u2014 like Peloton \u2014 they aren\u2019t. It\u2019s not ServiceNow ARR. You\u2019re loyal, but if Whoop is better and you care, you\u2019re going to switch.\u201d
\nRory pushed back hard: \u201cGet the f*** over it. Not every business on the planet has five-year lock-in designed in. If you\u2019re running a bar down the street, every night I can go drink at a different bar. If you\u2019re selling Coca-Cola, I can switch to Pepsi. There are lots of businesses that have been around for 50 years where every day they have to earn the right for the consumer to go to them.\u201d
\nHis bigger point: \u201cIt turns out capitalism is hard. If you want to make $10 billion in value, you got to deliver value for your consumers.\u201d
\nOn Peloton\u2019s collapse, Rory offered a reframe: \u201cDemand that should have been wonderful \u2014 had it been spread out over five or six years increasing at 20% a year, we\u2019d be talking about the Peloton compounding machine. Instead, everyone bought the damn thing at the same time, the market was wildly saturated, and the stock went down and it broke the narrative.\u201d
\nJason added what might be the most relevant insight for founders: \u201cI remember telling people you should sell your product the way the customer wants to buy it. One of the things I hated about venture was when people would say, \u2018Oh, make it all recurring revenue.\u2019 And now hilariously, everyone\u2019s going, \u2018Oh, thank God I\u2019ve got hardware because hardware is defensible \u2014 not software.\u2019 You should conform your company around your customers and your model, not your VCs.\u201d
\n9. Founders Are Obsessed With Headline Valuations \u2014 and Tranched Rounds Are Making It Worse
\nHarry went off on tranched rounds \u2014 the increasingly common practice where a lead investor gets in at one price and follow-on investors pay 50%+ more in what\u2019s announced as a single round at the higher valuation.
\nRory broke it down: in the single-participant version, one investor puts money in at $250M pre and at $1B pre, knowing their blended basis is $600M. The company gets a headline of $1B. \u201cIt\u2019s silly, but that\u2019s all that\u2019s happening.\u201d
\nThe worse version: the lead does the cheap tranche and the follow-on only gets access to the expensive tranche. \u201cLiterally, at the same time, the lead investor is investing at $600M blended and the follower is investing in the same asset at $1B.\u201d The follow-on is paying a 50% premium for access.
\nRory\u2019s assessment: \u201cI don\u2019t believe there\u2019s right or wrong in money. There\u2019s just money. But at the minimum, you have to look yourself in the mirror as the other investor and say, \u2018That\u2019s the price of being cool. That\u2019s the price of access.’\u201d
\nJason connected it to a broader problem: \u201cWe\u2019ve entered an era where so many founders are obsessed about headline prices. Obsessed. They\u2019re obsessed coming out of demo day. They\u2019re obsessed once they cross a billion. They\u2019re obsessed about driving to $11 billion and one-upping their competition. The numbers have become a joke to many founders. They just don\u2019t think through any of the ramifications of the valuation they\u2019re hitting, and they don\u2019t care.\u201d
\nHis bottom line: \u201cI just don\u2019t think raising at $5 or $8 billion when you\u2019re at $80 million or $100 million of suspect ARR is the most exciting accomplishment in the world. I\u2019m going to send a few thumb emojis on the email, but that\u2019s about it.\u201d
\n10. Epic Games Laid Off 25% \u2014 The Attention Economy Comes for Everyone
\nEpic Games laid off over 1,000 people \u2014 25% of the company. The reason wasn\u2019t AI. It was that daily active usage of Fortnite and their other games is down. Revenue is down. So expenses had to come down.
\nRory\u2019s take: \u201cIt was a no-BS layoff announcement. \u2018We sell less stuff, we have less people. It sucks.\u2019 I really do try never to be cavalier about people losing their jobs. They\u2019re not earning the kind of money we\u2019re earning, and now they got to find another job in a shitty job market. But the lesson is: we\u2019re selling less, so we got to do what we got to do.\u201d
\nJason connected it to a broader pattern: the Wall Street Journal reported this week on the permanent decline of Hollywood employment \u2014 fewer movies and shows being made, TikToks and YouTubes replacing them, and every other country offering bigger subsidies. \u201cEntertainment is showing us the future. Epic Games is entertainment. We talk about folks who might vibe-code a B2B app, but content\u2019s already being massively disrupted.\u201d
\nThe Fortnite circle, as Harry noted, has come for Fortnite itself.
\n11. The Manus Founders Are Trapped in China \u2014 and Singapore-Washing Is Over
\nAfter Meta acquired Manus (originally a Chinese company that re-domiciled to Singapore, backed by Benchmark), two of the key founders were either in China or summoned there and are no longer able to leave. The Chinese government views this as a brain drain and took coercive steps.
\nJason\u2019s view: \u201cThe Singapore-washing thing is over. It\u2019s over.\u201d He added that while the deal appears to have closed and Benchmark got their money, \u201cYou don\u2019t do the next one. Maybe other capital does the deal. Capital is fungible. But you just can\u2019t do the next one like this.\u201d
\nRory noted the geopolitical reality: \u201cAt some zoom-out level, when you listen to the rhetoric on both capitals, you just have to realize that trying to tread between these two countries is pretty hard right now. We have China hawks in the US government. They obviously have US hawks. There\u2019s a real perception of competition. You\u2019re playing with fire, and sometimes it bites you.\u201d
\nJason also pointed out something most people missed: Manus appears to be running smoothly as a product and company inside Meta. \u201cWhen you lose your founders, you lose your heart and soul of your company. But in the short term, the team\u2019s functioning, they\u2019re running.\u201d
\n12. The Billionaire Tax Is Killing California\u2019s Golden Geese
\nSteve Jurvetson \u2014 who made brilliant investments in SpaceX and Tesla \u2014 left California for Incline Village, Nevada, buying the most expensive home there. Washington state passed a 9.9% state income tax for millionaires. Howard Schultz had already left.
\nJason\u2019s concern: \u201cWill anyone with liquidity be left in California? What if California is structurally bankrupt?\u201d
\nRory made the most articulate argument against wealth taxes: \u201cBy choosing to obtusely tax without any attention to ability to collect that money, you\u2019ve actually reduced the revenue available to you. Instead of getting $50 million from the Larry Ellisons and Steve Jurvetson\u2019s of this world, you went for $200 million and now you\u2019re going to get zero. And what that means in real terms is somewhere down the line, long after all these changes have been made, someone in Sacramento will zero out a line item on the budget. Let me give you a clue: it won\u2019t be payments to teachers, it won\u2019t be payments to firemen. It\u2019ll be marginal services to marginal people that your craft stupidity and desire to make a political point has ended up costing them money.\u201d
\nOn the argument that being mean to billionaires is popular: \u201cBeing mean to a billionaire is actually a feature, right? But the real articulation is: you are literally losing revenue that won\u2019t be available for the people who need it most.\u201d
\nRory also explained why capital gains are different from income: you can tax income highly because it comes all the time, you can\u2019t control timing, and uprooting your life forever isn\u2019t worth it. \u201cBut if you have this pending capital event where you\u2019re going to sell your SpaceX stock and realize a $2 billion gain and pay an extra 13% in California \u2014 that\u2019s $260 million \u2014 maybe you turn to your wife and say, \u2018Honey, for the next two years, why don\u2019t we live in Incline Village 165 days? I\u2019ll pay for the plane. We\u2019ll go back every week. We will save $260 million.\u2019 That\u2019s real coin.\u201d
\n13. Ron Conway vs. Matthew Prince Proved Everything About VC \u201cValue Add\u201d
\nRon Conway said on a podcast that he had helped Cloudflare navigate significant issues. Someone asked Cloudflare CEO Matthew Prince about it. His response: \u201cWell, maybe I don\u2019t remember any of that.\u201d
\nJason: \u201cIt wasn\u2019t mean. He literally just meant he couldn\u2019t remember getting any help from this beloved VC. And it just said so much to me about VCs adding value, but also VCs thinking they add value.\u201d
\nRory backed it up with a framework: \u201cI often read business biographies of great venture-backed companies. You know what I notice? Very little mention of VCs. They crop in and come out a couple of times. The only significant things we do: we put in the money, we put in more money when they need it, we decide to hire or fire the CEO, we agree to broad strategic direction. Anything after that is at best an assist.\u201d
\nJason agreed: \u201cThe only thing founders really remember is: \u2018Oh my god, our backs were to the wall and no one would put in money and they put in money.\u2019 Sometimes they even forget that. But if they forget that, they\u2019re definitely going to forget the time you made a phone call to help connect them with XYZ.\u201d
\nRory\u2019s conclusion for all VCs: \u201cWe\u2019re not the stars in the drama. We\u2019re bit players who get well paid for our part.\u201d<\/p>\n

Quotable Moments
\nJason Lemkin
\n\u201cThe faster we vibe code, the faster we ship, the more corners we cut on application-level security. Agents are goal-seeking. Even if they make mistakes 10% as often, they\u2019re a thousand times more productive. They\u2019re still going to make a hundred times more mistakes.\u201d
\n\u201cI just don\u2019t think raising at $5 or $8 billion when you\u2019re at $80 million or $100 million of suspect ARR is the most exciting accomplishment in the world. I\u2019m going to send a few thumb emojis on the email, but that\u2019s about it.\u201d
\n\u201cYou should conform your company around your customers and your model, not your VCs. This whole \u2018pretend it\u2019s ARR\u2019 \u2014 things are what they are. You do best in business if you actually say what they are and just live and die by that.\u201d
\nHarry Stebbings
\n\u201cYou\u2019re juxtaposing Anthropic with Mythos \u2014 supposedly as powerful as it is \u2014 with OpenAI wandering around the product desert trying to find some water.\u201d
\n\u201cThe gamification of the race to 100 million \u2014 if you\u2019re going to put yourself out there, not just as a tweet but right there on your website, one would expect 70-80% accuracy in that number. If it\u2019s lower, the daggers are going to come out.\u201d
\n\u201cThe Fortnite circle has come for Fortnite itself. Poor Epic Games is in the middle of its own end game.\u201d
\nRory O\u2019Driscoll
\n\u201cYou\u2019re seeing the economists, the accountants have wandered into the room and they said, \u2018We have a scarce resource here. Let\u2019s optimize it. Let\u2019s devote this compute to the people who can pay the most for it.’\u201d
\n\u201cGet the f*** over it. Not every business on the planet has five-year lock-in. If you\u2019re running a bar down the street, every night I can go drink at a different bar. There are businesses that have been around 50 years where every day they have to earn the right for the consumer to come back.\u201d
\n\u201cWe\u2019re not the stars in the drama. We\u2019re bit players who get well paid for our part.\u201d<\/p>\n

This post is part of the ongoing 20VC x SaaStr collaboration with Harry Stebbings and Rory O\u2019Driscoll.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

20VC x SaaStr: Anthropic\u2019s 10-Trillion-Parameter Leak, OpenAI Kills Sora, Masa\u2019s $40B Bridge Loan, and Why…<\/p>\n","protected":false},"author":1,"featured_media":202279,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2026\/04\/ep50-scaled.jpg?fit=1000%2C563&quality=70&ssl=1","fifu_image_alt":"","footnotes":""},"categories":[15],"tags":[26,24],"class_list":["post-202278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cybersecurity","tag-ai","tag-cybersecurity"],"_links":{"self":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/202278"}],"collection":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=202278"}],"version-history":[{"count":1,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/202278\/revisions"}],"predecessor-version":[{"id":202280,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/202278\/revisions\/202280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/202279"}],"wp:attachment":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=202278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=202278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=202278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}