20VC: You Need $1BN To Do Seed Today: The Untold Truths of Venture | Who Wins and Who Loses in the Next Decade of VC | Why Margin and Price Matter Less in a World of AI with Sameer Dholakia, Bessemer

Intelligence is gonna be bigger as a market than oil. I've been in software for thirty one years now. In the handful of other moments where I have felt magic, a trillion dollar super cycle followed every single time, and it doesn't happen very often. I absolutely believe capitalism mode. Not being a giant global platform or an incredible specialist who can add differentiated value, I think it's a hard world to make money. $5,750,000,000. That is how much Bessemer Venture Partners just raised across their two new funds, a $4,000,000,000 fund and a $1,750,000,000 seed fund. My word, they really took it literally when I said you need a billion dollars to do seed. Well, I saw this and I thought we've gotta have Samir on the show. Samir is one of the leaders at Bessemer today. He led investments in Ligure and Fireworks, two twenty VC companies as well, which is awesome to work with them on, and he's one of the best growth investors in the market today. It's a spicy show. It's kind of what we'd call in The UK a bread and butter show in the way that this is right down my fairway. So unlike the AI deep tech infra stuff where I'm learning as I go, this is really in my zone of comfort, and we had a great discussion. And I love doing shows like this. Like, these shows are why I still do 20 VC with such passion. Samir was patient. He put up with me, and hell did we have a discussion. But before we dive into the show today, Blitzy, the autonomous software development platform that's built for enterprise scale, is proud to sponsor today's show. Enterprise code bases have grown beyond human comprehension. Tens of millions of lines, decades of tech debt, complexity existing tools cannot fathom. Blitzy starts by understanding. Thousands of agents reverse engineer your code base into a proprietary knowledge graph that maps architecture, dependencies, and business logic. That graph surfaces every CVE and zero day hiding in your code before anyone hands you a ticket. Grounded in that context, Blitzy then executes entire epics autonomously. Modernize off legacy systems, ship new features five x faster, or batch remediate CVEs at scale surfaced by the platform. Blitzy not only generates code, it validates an end to end test every single line. And that's why Fortune 500 enterprises are shipping enterprise grade code five times faster. Go to blitzy.com/20vc to learn more. While Blitzy helps you build faster, Flex helps you run your finances smarter. Business owners run their whole financial life on Flex. One platform from business revenue to their personal spend. Float every purchase for sixty days. Tap capital that grows with your revenue and pay vendors in a 170 countries across 32 currencies, plus the whole back office, bills, expenses, accounting, all in one place. So you spend less time reconciling and more time growing. That's why thousands of owners use Flex, named …