We're welcoming Bloomberg's Kate Clark to the show this week and diving into her reporting on the rough fundraising environment for any VC that isn't an a16z or GC-style megafund. The only emerging funds that can raise, it seems, are ones that are started by investors who leave these brands. If it weren't for the AI funding bonanza, the situation would look even worse.

We each make our predictions for how rosy or dreary the venture market will be 2 years from now. And, of course, take a moment to comment on Elon's DOGE departure.

Timestamps:

00:00 Intro and welcome to Kate Clark

00:57 Emerging managers struggle to raise

14:34 The X factor, sovereign wealth

22:07 Venture market predictions

32:51 Elon Musk out in Washington