November 2025 might go down as the month venture capital actually snapped.

Cursor raised $2.3B at a $29.3B valuation — for a coding assistant.

One company, Anthropic, took 29% of all global VC funding.

And 18 companies consumed a third of the world’s capital.

This isn’t a market.

It’s a feeding frenzy.

In this explosive episode of Nothing Ventured, Aarish Shah breaks down the 5 signals that prove the venture landscape has officially entered its “no rules” era:

⏱ Chapters

00:00 – Intro

00:27 – The $29B Cursor Shockwave

05:12 – Defence Tech Goes From Taboo to Hot Overnight

10:21 – Slush & Why Europe Might Actually Win

15:18 – The IPO Window Reopens (But Only for Winners)

20:02 – The 18-Company Quarter

23:30 – The Five Takeaways You Cannot Ignore

24:40 – Final Word

💥 What you’ll learn:

• Why dev tools are suddenly worth mega-cap valuations

• How defence tech became Silicon Valley’s favourite new game

• Why Europe’s “boring” capital efficiency might beat America’s AI obsession

• Why the IPO window matters more than any funding headline

• How extreme capital concentration is setting up the next correction

If you want to know where venture is REALLY heading in 2026 — this is the episode.

#venturecapital #startups #ai #defencetech #technews

This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B.

Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/

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