AGENDA: 05:00 Canva&#x27;s Growth Gets Slashed as AI Costs Explode 20:00 The Great Software Reset: Why 2026 Will Punish AI Hesitancy 29:00 Canva&#x27;s Valuation Reality Check—and the LP Liquidity Trap 35:00 Google&#x27;s AI Brain Drain: Jeff Dean Leaves, Demis Steps Back 43:00 Why Google Can&#x27;t Afford to Cure Alzheimer&#x27;s 50:00 The Data-Centre Revolt: Can AI Survive the Political Backlash? 55:00 Elon Musk&#x27;s $55BN Terrafab Bet to Break Free from TSMC 57:00 Revolut&#x27;s $50BN CEO Pay Package—and the Return of Founder Control 01:13 AI Shopping, Atlassian&#x27;s Revival, and Airtable&#x27;s Brutal Sale Reality

20VC: Canva Slashes Growth: How Much is it Really Worth | Demis Hassabis and Jeff Dean: Talent Exodus at Google | Revolut's $50BN CEO Pay Package | Elon Musk's $55BN Terrafab

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

There's going to be a lot of people paying the bill in 26 and 27 for a certain amount of hesitancy in 23 and 24. The only way you prove that you're not dying is by growing. It doesn't matter what you think, big guy, you're in this journey for the next 12 months. Buckle up. Because liquidity will only come at the end of the journey.

It must be extraordinarily validating, if you're Jeff Dean, to leave as a non-CEO of a two or three trillion dollar market cap public company and have the stock go down by a couple of hundred billion dollars. Google's efforts so far are B plus A minus. They're not A plus. I mean, this is such an entitled podcast. Oh, poor anthropic engineer only made 35 million. I mean, go out to the goddamn panhandle. No one's making 50 grand. When they say it's not about the money, it's about the money.

Any investment I've made that is not run by a founder is a zero. It's going to be a zero in this age. This is 20 VC with me, Harry Stebbings, and it's my favorite show of the week. Rory O'Driscoll, Jason Lemkin and me shooting this shit on the biggest news in tech. So what happened this week that we discussed? Canva cuts 2026 growth by a third? Ouch. As AI serving costs blow up. Next, Jeff Dean leaves Google after 27 years. It gets worse. Demis Hassabis, the OG of AI.

Then steps back from Google DeepMind also. God, poor Sundar. That is one bad day at the office. And then Elon Musk, as always, comes out with one of the most ambitious projects with TerraFab, where we unpack the jobs that come from it.

20VC: Canva Slashes Growth: How Much is it Really Worth | Demis Hassabis and Jeff Dean: Talent Exodus at Google | Revolut's $50BN CEO Pay Package | Elon Musk's $55BN Terrafab

Read the full transcript

The candid version is on a podcast,
not the earnings call.

20VC: Canva Slashes Growth: How Much is it Really Worth | Demis Hassabis and Jeff Dean: Talent Exodus at Google | Revolut's $50BN CEO Pay Package | Elon Musk's $55BN Terrafab

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.