The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
00:54:52 · Harry Stebbings, Erik Bernhardsson
[00:54:52] S1: How big can that business be? [00:54:54] S0: That's a good question. I mean, it is, like, somewhat specialized. They're doing vector databases. I think it could be a very large category. If I ran that company, I would have 500 different ideas of how to expand into many adjacent things around databases, data warehouses, other types of querying system. Like there's... It could be a large category. [00:55:10] S1: What have you changed your mind on most in the last twelve months? [00:55:13] S0: Probably the magnitude of the Sandbox space. I think it's kind of insane. Like, I look at the revenue, and it just keeps going up. And I'm like, well, clearly has to stop right now. And I think I'm, like, doing some sort of reverse psychology on the revenue because it just keeps going up. I'm like, what is going on? It just keeps growing and growing. And, like, I've been wrong so many times. I'm like, you know, in a good way, like, you know, and and so I... It's incredible how large that space has gotten. [00:55:33] S1: What do you think is the most overheated category within AI today?
00:55:33 · Harry Stebbings, Erik Bernhardsson
[00:55:33] S1: What do you think is the most overheated category within AI today? [00:55:38] S0: Oh, boy. I I don't know. I I don't think anything is overheated. I will say, like, one of the things that I'm a little nervous about is companies that are dependent on continual infusion of equity capital. I would not invest in them. And there's a lot of them that I... I would be nervous about anything where, like, if there's a venture capital pullback, they will struggle to raise more money. I think it's important you raise the the... Every round as if it's your last round, and there's, like, a real path towards commercialization and revenue. [00:56:07] S1: You got two kids. [00:56:08] S0: Two kids. [00:56:09] S1: Biggest lesson on being a good dad and being a good CEO? [00:56:12] S0: I mean, sometimes I feel like it's kinda similar. Like, you mean, like, in terms of, like, how to balance it, or do you mean in terms of just, like, being a good dad? [00:56:18] S1: What does it take to be a good dad?
00:56:18 · Harry Stebbings, Erik Bernhardsson
[00:56:18] S1: What does it take to be a good dad? [00:56:20] S0: Setting them up for success in life. And I always, like, think about, like, the right amount to push the kids. I'm not a tiger dad, but, like, I think a little bit you need to push the kids a little bit to, like, get them exposure. I don't want to create, you know, in the future a situation where my kids come back to me and say, Hey, dad, I wish you'd made me do X, or I wish you'd made me do Y. But I also don't want to create a situation where my kids come back to me when they're 20 and they say, Hey, dad, why did you make us do X? Or why did you make us do Y? So a little bit of pushing. I make them play piano. I don't know why. But like, I think it's good way to, like, learn something that I hope, you know, when they're 20, 30, they will actually appreciate. They don't like it that much. But I think stuff like that, you gotta push them a little bit, but not too much. My my parents are very lax, and, you know, I discover math and and programming. And they were like, Erik, why are you doing so much math? Like, you should go out and play like the other kids. So in a way, I actually wish they would have pushed me even harder, but I pushed myself so hard anyway, so it doesn't matter. So so you let... That, like, right amount of pushing. [00:57:15] S1: You push yourself so hard. You're... Sorry. You're actually from a nation where you are told that it's bad to stand out. I'm forgetting that word, but I had a Swedish girlfriend. Yeah. Where it's like, it's bad to stand out.
00:57:15 · Harry Stebbings, Erik Bernhardsson
[00:57:15] S1: You push yourself so hard. You're... Sorry. You're actually from a nation where you are told that it's bad to stand out. I'm forgetting that word, but I had a Swedish girlfriend. Yeah. Where it's like, it's bad to stand out. [00:57:30] S0: Yeah. Don't think you're special. [00:57:31] S1: Yeah. Why [00:57:32] S0: But I I don't know if that's Like, I think there's a lot of misconceptions to Scandinavian culture. I do think there's a lot of, like, respect for people who follow their dream and, like, do things. And, like, whether, like I said, you know, it's music or writing books or, you know, making furniture or art, like... Or being an entrepreneur. Like, I actually think there's a lot of respect for I think this, like, you know, self actualization and following your dreams is, like, kind of highly regarded. And I think, you know, like, that's the flip side of having a very lax culture is, like, you kind of pursue people to follow their dreams. And I don't know. My dream was, like, doing math and programming. I love that shit, so I did that. [00:58:03] S1: Unless you're from Norway, where a tax structure exists that basically makes it impossible to start a company. [00:58:07] S0: Yeah, I mean, Norway has some issues. [00:58:11] S1: They also barely work. Yeah, this is very true. But we do have a sovereign wealth fund. Yeah, they are rich. Thank God for that. [00:58:17] S0: Maybe it's like the first post economic society, I don't know. [00:58:19] S1: Literally almost. In certain, [00:58:21] S0: in multiple meanings of the word.
00:58:21 · Erik Bernhardsson, Harry Stebbings
[00:58:21] S0: in multiple meanings of the word. [00:58:22] S1: Final one for you. What are you most excited for? It can be anything. I look at drug discovery for chronic conditions. Mom's Actually got [00:58:29] S0: drug discovery is one of the applications I think is so incredibly cool. I can't wait to take AI generated drugs. You know, I'm like old and my skin is getting bad and like, I don't know, like, you know, every time I drink a beer, I feel like horrible the day after. Like, I don't know, give me all the AI generated drugs I can take. Like, I want to live long, want to live a healthy life. You know, and I think it has Do [00:58:48] S1: you think that is actually a realistic future? [00:58:50] S0: I think so. But I think with the FDA and other things, it's gonna take a while. But I think there's so much incredible progress today in AI aided drug design. I think there's so many cool stuff, so many things. [00:59:00] S1: Dude, I've so enjoyed this show in a way that I I honestly wasn't expecting you to be this fun, open, charismatic. You've been amazing, so thank you so much. [00:59:10] S0: Thank you so much for having me. This is a lot of fun.
00:59:14 · Harry Stebbings
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