Term Sheet

OpenAI has had a huge week. Fresh off launching the AI video generation and social app Sora 2, they closed a multibillion dollar partnership with AMD that sent the company’s stock soaring. This was quickly followed by the release of new features, like agent-building and ChatGPT app integration, meant to supercharge OpenAI’s hold on the culture. 

Allie sat down with OpenAI COO Brad Lightcap at the company’s DevDay in San Francisco to discuss where the company stands in the enterprise market, what he thinks of the “AI bubble,” that MIT study, and more.

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Hans Tung first became a VC in his 20s and has gone on to invest in some of the most successful companies of our time––household names like Airbnb, Slack, Coinbase, and Peloton, among others. He was an early backer of Musical.ly, the app that became TikTok. Hans cofounded the firm GGV Capital, which then split into the Singapore-based operation, Granite Asia, and the U.S.-based Notable Capital, where he’s now managing partner. Allie and Hans talk about what makes a good investor, what he looks for in founders, his take on AI bubble anxieties, and more.

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Paul Copplestone is the CEO and Co-founder of Supabase, the open source Postgres development platform designed for web and mobile apps to scale quickly. The company knows a thing or two about growing fast – only 5 years old, this April they raised $200 million in Series D funding round and were valued at $2 billion. Paul stopped by Term Sheet to talk about how he builds a remote and egoless company culture, why he likes hiring founders, and how being from New Zealand has impacted his entrepreneurial journey.

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Phoebe Gates and Sophia Kianni met as roommates at Stanford. Now, they’re the cofounders of Phia, an AI-powered shopping agent that just raised an $8 million seed round led by Kleiner Perkins and has participation from household names like Hailey Bieber,  Kris Jenner, and Sheryl Sandberg. For this episode of Term Sheet, Allie spoke with Phoebe, Sophia, and Annie Case, a partner at Kleiner Perkins, about what’s wrong with online shopping today, how to build a consumer company, why there aren’t more women building companies, and what AI tools can bring to the digital shopping experience.

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Sebastian Siemiatkowski has achieved something few founders ever do: he’s brought a private company to the public market. Now, if you want, you can own a piece of Klarna. But still, to Sebastian, the day he visited Walmart Founder Sam Walton’s grave in Arkansas will always be more exciting than ringing the NYSE bell. On this episode of Term Sheet, Sebastian talks about how being from a Polish immigrant family in Sweden led him to idolize Walmart, Klarna’s bigger than BNPL business model, and how the future financial services will embrace AI and put the customer back in the driver’s seat.

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This week Allie sits down with Evan Reiser, CEO and Founder of Abnormal AI. Evan and Allie talk about Evan’s journey from a “cyber outsider” to a cybersecurity firm founder, how AI tools supercharge both cyber crime and cybersecurity, and why he’s totally “AI-pilled” when it comes to imagining the future. Plus: Allie gives her honest take on whether we are in an artificial intelligence bubble and talks about why the US stake in Intel might not be a good sign for startups.

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This week, Allie sits down with Guillermo Rauch, Founder and CEO of Vercel and the “P.T. Barnum of Vibe Coding”. They dive into how vibe coding is playing a role in democratizing the internet, how AI will change the future of entry level tech jobs, and Guillermo’s approach to investing. Also in this episode: the IPO boom, and the state of startup hiring.

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This week, Allie speaks with Rebecca Lynn, Managing Director at Canvas Prime and trailblazing venture capitalist. Together they discuss Rebecca’s roots in the Midwest, her path to Silicon Valley and what she’s learned as an entrepreneur turned venture capitalist. Also in this episode: the unusual deal between Nvidia and the US Government, and the new class of AI billionaires.

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This week, Allie interviews Taylor Otwell, Founder and CEO of Laravel. Together they discuss Laravel's rise as an Arkansas-based tech company, Taylor's early decisions as a founder, and the passionate Laravel community. Also in this episode: Figma's succesful IPO, OpenAI's latest funding round and the deal of week: Joby Aviation.

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Welcome to the Term Sheet podcast! In this new series, Allie Garfinkle adapts her newsletter in audio and video format, diving deeper into the latest news and insights on private equity, venture capital and startups. This weekly show will expand on the elements that made the newsletter an essential subscription for investors, with industry leaders guests and a roundup of the biggest funding news.

This week, Allie interviews Will Hurd, Chief Strategy Officer at CHAOS Industries. Together they discuss Will's background as a CIA officer, and a new era for defense, tech and DoD partnerships. Also in this episode: Figma's IPO and the deal of week: Ramp.

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