Venture Concentration, High-Skill Immigration, And Who Should Buy Lyft? | E2067

Jason and Alex kick off the episode (0s)

• Jason Calacanis wants to discuss immigration, a topic that is currently on his mind, and appreciates people following his thoughts on Twitter (0s).
• People often email Jason at [email protected] or send him direct messages (DMs) to share their thoughts, including negative comments, which he finds entertaining (11s).
• Jason has a relatively low bar for negativity and can only take so much, usually stopping after the third or fourth negative comment (33s).
• He believes that negative comments are often a reflection of the person's feelings about themselves at that moment, and are usually from troubled individuals, young people, or bots trying to cause trouble (43s).
• The conversation is interrupted by a mention of the episode's sponsors, including Paddle, a self-serve software that manages payments and sales tax, and Fitbod, an app that provides personalized workouts (1m3s).
• Other sponsors mentioned include LinkedIn Ads, which offers high-quality leads and a $100 credit on the next campaign (1m41s).

Jason and Alex discuss their New Year holidays and resolutions (1m56s)

• The New Year has begun, and it's January 3rd, 2025, with plans to discuss various topics, including venture concentration, high-skill immigration, and who should buy Lyft (1m56s).
• One person spent the holidays in Tahoe, skiing 16 full days and aiming to beat their record of 40 days, using the app Slopes to track their progress (2m1s).
• The same individual had a restful holiday, spending time with their daughter and skiing with Chamath and Freeberg, who were also in the same area (2m29s).
• Alex's holiday was not very restful due to having a three-and-a-half-month-old baby, but they did get to see their brother, who is a major in the Army and has a PhD in applied physics (2m45s).
• Alex's brother is going back to West Point to teach, and there are plans to invite him to a future event (3m7s).
• Regular CEO dinners and VC dinners are held on Thursday nights in Austin, with a mix of regular attendees and new invitees for wide-ranging discussions (3m15s).
• The "noty gang" refers to people who put notifications on for the YouTube channel, and several members are acknowledged, including Mark Beatles, Campbell, Bernie Hep, Michael Dan Moy, and Son (3m31s).
• The show's schedule will be slightly different for the next couple of weeks due to international travel, with possible earlier start times, including 8 a.m. eastern time, which is 5:00 a.m. Pacific time (4m41s).
• One person's New Year's resolutions include increasing their sleep, exercise, and meditation, losing 10 pounds, and reducing sugar intake (5m5s).
• Alex's New Year's resolutions include getting abs, finishing a novel, not drinking for a year, being a great husband and father, and being more patient, kind, and engaged (5m41s).

Jason shares tips for mindfulness and meditation (6m25s)

• Having an active mind can make it difficult to turn it off, but a simple way to address this is by using the Calm app, which offers breathing exercises and music to help with relaxation and sleep, with a recommended 10-day streak of daily use, even if just for a minute or a few minutes (6m26s).
• After practicing mindfulness, interacting with family, such as children, can be beneficial (6m56s).
• Another helpful technique is the Stoic exercise, which involves thinking about loss or not having something, such as imagining being 70 years old and having children who are grown and busy with their lives, and considering what one would pay to go back to a moment in time when they were younger (7m23s).
• This Stoic exercise can help put things into perspective and make one appreciate the present moment, such as being able to spend time with young children, even if they can be challenging at times (7m41s).
• Ryan Holiday, author of Stoic texts, is mentioned as someone who has written about these types of exercises and is someone to catch up with and learn from (7m5s).

Reflecting on family moments and making memories (8m1s)

• Changing diapers and dealing with a child's puke can be challenging, especially when combined with work stress and an insufferable boss, making parenting a trying experience (8m2s).
• Despite the challenges, making memories with family is essential, and even a simple moment like having the whole family together can be cherished (8m22s).
• A picture of the family on a ski run served as a reminder to appreciate and make memories, not just for the children, but also for oneself and for all eternity (8m33s).
• Techniques like meditation, equanimity, and stoicism can help navigate chaotic days and make the most of life's experiences (8m46s).
• Warren Zevon's appearance on David Letterman, where he shared his diagnosis of lung cancer, provided valuable life lessons, including the importance of regular doctor visits (9m0s).
• Zevon's advice to "Enjoy Every Sandwich" emphasizes the importance of appreciating and savoring life's simple moments and experiences (9m31s).
• The concept of "Enjoy Every Sandwich" is a powerful reminder to appreciate the simplicity of life and enjoy every bite, serving as a message for making the most of life's experiences (10m0s).

Paddle. Go to paddle.com/twist to get started with your exclusive listener fee-free period. (10m13s)

• Dealing with taxes can be challenging, especially for busy startups, as they are required to pay digital sales tax wherever their customers are located (10m13s).
• Paddle helps put billing on autopilot when launching a SaaS product, app, or game, allowing businesses to reach billions of customers globally (10m22s).
• Scaling a business brings challenges such as taking payments in local currencies, navigating regional tax laws, managing fraud, and handling refunds (10m35s).
• Maintaining a payment stack can be time-consuming and costly, and these problems compound with every new market entered (10m50s).
• As a merchant of record, Paddle handles payment localization, fraud prevention, tax compliance, and customer billing support, allowing businesses to grow faster (10m58s).
• With Paddle, launching in a new country, setting local pricing, and adding payment methods can be done easily and quickly (11m7s).
• Businesses can take advantage of Paddle's services by going to paddle.com/twist to get started with an exclusive fee-free period (11m16s).

Jason and Alex delve into venture capital and Instacart's funding rounds (11m27s)

• Venture capital has evolved significantly over the past 30 years, from a small, bespoke industry with few players to a large industry with many participants, driven in part by the success of companies like Google and Apple (12m0s).
• A chart showing Instacart's major investors and the price of each funding round is used to illustrate the changing nature of venture capital, with early investors like Kosla, Canon Partners, and YC Combinator paying 24 cents per share, and later investors like Sequoia and Fidelity paying significantly more (12m47s).
• The chart highlights the difference between traditional venture capital (Trad VC) and new venture capital (new VC), with Trad VC focusing on early-stage investments and helping companies achieve product-market fit, and new VC focusing on late-stage investments and growth (14m45s).
• The new VC model is characterized by large, growth-stage investments, often from firms like Tiger Global, D1 Capital, and DST, which are willing to pay high prices for shares in successful companies (14m9s).
• The distinction between Trad VC and new VC is important for founders to understand, as it can affect the type of funding and support they receive at different stages of their company's growth (14m55s).
• The term "continuity" is mentioned as a concept introduced by YC Combinator to describe their growth-stage fund, although it is noted that this term may be misleading and that the reality of growth-stage investing can be more cutthroat (13m52s).
• Traditional Venture Capital (Trad VC) is characterized by a bespoke, art-punk approach, relying on gut feelings and rolling up sleeves, whereas other investment methods are more spreadsheet-driven and focused on economic bets (15m30s).
• The decisions made by non-Trad VC investors are often based on economic bets that may not pay off, as seen in the case of Instacart, where the Series E round is still underwater by a third despite the company's IPO at $27 (16m13s).
• Instacart's current stock price is around $44, which means that D1 Capital's tender offer in 2020 is only now breaking even, but the bulk of the capital invested in later rounds did not perform well (16m25s).
• The Venture Capital model, particularly the 2/20 model and partner model, may not scale perfectly through mezzanine tranches, and the industry has changed radically due to an influx of capital and attempts to make it bigger than it is (16m47s).
• Mezzanine financing was initially intended to be temporary and short-term, but it has become a larger part of the investment landscape, with investors putting in money and waiting for four or five years without seeing returns (17m3s).
• If investors had instead put their money in an index fund, such as the S&P, they would have seen returns of 10-25% per year and potentially tripled their money (17m19s).
• The industry's shift has led to a situation where investors are not seeing the returns they expect, and the traditional Venture Capital model is being challenged (17m35s).

Jason announces focus on early-stage investments and Founder University (17m41s)

• The firm is committing to going even earlier in investments, with a focus on early-stage companies. (17m44s)
• Founder University, a pre-accelerator, will be a key area of focus, with half of the companies not even incorporated yet. (17m56s)
• The accelerator, a peer to Tech Stars and Y Combinator, will also be a focus, with companies that have modest traction or MVPs just going into the market. (18m2s)
• The firm will be reorganizing to focus 95% of its effort on Founder University and the accelerator, shifting from a previous split of a third in directs, a third in accelerator, and a third in pre-accelerator. (18m13s)
• The 10th cohort of Founder University will be held in person in Austin. (18m38s)
• The founder will be dedicating every Tuesday to Founder University and accelerator companies, and is considering renting a co-working space or partnering with Capital Factory to host the events. (18m50s)

Fitbod. Get 25% off your Fitbod subscription or try out the app for FREE when you sign up now at fitbod.me/TWIST. (19m12s)

• Fitbod is a personalized fitness app that provides users with tailored workouts based on their goals, available equipment, and fitness level, and it can be used anywhere, even without a gym (19m21s).
• The app uses machine learning and exercise science to create a custom workout plan that takes into account muscle fatigue and recovery from past workouts (19m42s).
• Fitbod helps users avoid overworking or underworking any muscle group by tracking muscle fatigue and recovery, ensuring a balanced workout routine (19m58s).
• The app allows users to input the equipment available to them, whether it's a full gym or just dumbbells, and creates a workout plan accordingly (20m19s).
• Fitbod offers a watch app that enables users to log their sets and change their workout routine as needed, with over 1,400 videos to guide them through every move (20m32s).
• Users can get 25% off their Fitbod subscription or try the app for free by signing up at fitbod.me/TWIST (20m51s).

Venture capital fundraising concentration and strategy (21m5s)

• Venture capital fundraising has become concentrated among a few firms, with the number of active venture capital firms decreasing over time despite an initial increase (21m6s).
• According to Pitchbook data, a handful of firms have raised the bulk of the capital, with the top 30 firms raising $49 billion, including $7 billion by General Catalyst and $6 billion by Thrive Capital (21m41s).
• Late-stage funds are becoming more prominent, with experienced managers and emerging managers holding a smaller portion of the capital, leading Limited Partners (LPs) to reconsider where to concentrate their investments (22m52s).
• LPs may view late-stage funds as a way to achieve average returns, as these funds often aim to match the S&P 500's performance, with returns of around 7-12% (23m27s).
• In contrast, other investors aim to achieve higher returns, such as 15-21%, by investing in private companies (23m40s).
• Founders should be aware that large firms with billions of dollars under management may not provide the same level of attention to smaller investments, and should set realistic expectations when dealing with these firms (23m52s).
• Smaller funds, like the one described, focus on providing early-stage investments, such as $25,000 checks for founder university, and aim to support a larger number of companies with smaller investments (24m42s).
• The ideal strategy for this smaller fund would be to deploy $10-15 million per year, supporting around 240 companies, with the goal of hitting a unicorn in every 200 investments (25m21s).

Impact of large funds on seed rounds and venture capital immigration (25m40s)

• Large funds participating in seed rounds can distort reality by demanding 10% ownership, which often leads to a $100 million valuation for companies with only $1 million in revenue, resulting in a 100x valuation that can have profound and problematic effects (25m45s).
• The impact of large funds on seed rounds and venture capital can be seen in companies like Instacart, where the valuation became distorted (26m8s).
• The topic of immigration is significant, and people often reach out to Jason Calacanis to share their thoughts and opinions on the matter (26m24s).
• Jason Calacanis receives both positive and negative feedback, including "Savage DMs," but he chooses not to lock down his direct messages (26m46s).
• The negativity is often a reflection of the person's feelings about themselves, and it can come from various sources, including troublemakers, bots, or people trying to cause trouble (27m10s).
• High-skill immigration is a topic of national debate, and some statistics can help frame the discussion, including the number of new H1B visas granted, the total number of illegal immigrants in the US, the unemployment rate, and the number of open tech jobs (27m28s).
• In 2023, 189,048 new H1B visas were granted, which is slightly above the cap number due to exempt categories (27m55s).
• The estimated total number of illegal immigrants in the US in 2023 was around 11.7 million, although this number is difficult to pin down (28m10s).
• The unemployment rate in the US in 2023 was 3.6%, and there were approximately 530,000 open tech jobs (28m16s).
• The sources for these statistics will be cited in the notes, and the accuracy of the numbers will be verified (28m30s).

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• To be competitive in B2B selling, it's essential to have a relentless focus on targeting the right prospects, and LinkedIn ads can help ensure that the right audience is reached at the right time and place (29m24s).
• LinkedIn's advertising tools connect businesses to decision-makers based on job title, industry, company size, and other vectors, allowing for targeted advertising (29m30s).
• Businesses can target specific companies, such as those with 50-250 employees or 1,000-5,000 employees, and specific job titles using LinkedIn ads (29m41s).
• LinkedIn has over a billion members, including 130 million decision-makers and 10 million C-level executives, providing a significant reach for businesses (30m0s).
• B2B marketers report a 2-5 times higher return on ad spend on LinkedIn compared to other social platforms, with 79% considering it the best platform for paid media (30m13s).
• LinkedIn ads allow businesses to build relationships, drive results, and reach customers in a respectful environment, making it an ideal platform for B2B messaging (30m25s).
• A $100 credit is available for new LinkedIn ad campaigns, which can be claimed by visiting linkedin.com/weenstartups (30m43s).

Social media weaponization, self-censorship, and high-skilled immigration (31m5s)

• The discussion on high-skill immigration is crucial, and the American Immigration Migration Council states that 44.8% of Fortune 500 companies in 2003 were founded by immigrants or their children (32m57s).
• 55% of technology unicorns are founded by immigrants, including iconic companies like SpaceX, Repet, and Stripe, highlighting the importance of human talent in innovation (33m16s).
• Plymouth's mission is to accelerate US innovation by enabling high-skill talent to build in America, and immigrants have consistently proven to be innovative, risk-taking, and entrepreneurial individuals (33m40s).
• The H1B program, designed in the 1990s, has a 65,000 cap limit, but over 780,000 individuals apply, resulting in a lottery ticket system that may cause the US to lose out on the world's best talent (34m17s).
• The 01 visa program is different from the H1B program, and Plymouth Street Jason's firm mostly works with 01 visas, which are focused on enabling high-skill talent to build in America (32m34s).
• The impact of immigrants on the technology scene is significant, and high-skill immigration is crucial for national growth and innovation (32m51s).
• The discussion on high-skill immigration is essential to unlock a new era of US innovation and to understand the importance of human talent in driving innovation (33m54s).
• The H1B program's lottery ticket system may lead to the US losing out on top talent in fields like AI, Quantum, and nuclear energy (34m39s).
• The O1 visa is a pathway for individuals with extraordinary ability or achievement in science, arts, education, business, or athletics to come to the United States, requiring sustained national or international acclaim and recognition in their field, which can be proven through awards, publications, or high salary (35m13s).
• To obtain an O1 visa, applicants must put together a comprehensive research report, typically 400 to 600 pages long, documenting their extraordinary ability, making it a rigorous process with little to no abuse (34m57s).
• The O1 visa process is not a lottery system, unlike the H1B, and is merit-based, requiring substantial evidence to prove the individual's value, with less than 5,000 STEM individuals coming into the US on an O1 visa each year (35m51s).
• Approximately 30,000 O1 visas are awarded annually, with the majority going to individuals in the entertainment and artistic professions, classified as O1B (36m11s).
• The O1 visa process may become a more attractive option for technology companies, as it is not random and is merit-based, potentially leading them to move away from the H1B program, which has been criticized for its lottery system and potential for abuse (36m31s).

Criticisms, reforms, and solutions to H1B visa issues (36m45s)

• Companies use various tools to retain their best talent, and different Visa Pathways offer opportunities for this, such as the TN category for Canadians and Mexicans, and Visa Pathways for Australians, with the O1 Visa being an amazing pathway for the very best talent at both early and later stages of a company (36m45s).
• The O1 Visa pathway is particularly useful for founders who want to build in America, and the best companies take their talent extremely seriously because they know that finding the very best talent is a constraint for growth (37m11s).
• Expanding the O1 Visa program to allow for more high-skilled immigration could potentially lead to at least 1% GDP growth per year, making it a worthwhile investment (37m45s).
• The O1 program has the capacity to help with high-skilled immigration, but reform across the system is needed, and the O1 Visa pathway should be utilized to achieve the goal of American competitiveness (38m10s).
• The message for the world should be that America is open for business for the world's best skilled innovators, and visas are a component of this message (38m22s).
• The H1B Visa program has been criticized for underpaying workers, entrapping them in contracts they can't get out of, and deporting them if they don't comply, with some suggesting increasing compliance fees and wage requirements to reform the program (38m47s).
• Practitioners acknowledge that these are known issues that need to be identified and reformed, and there have been discussions online about increasing compliance fees and wage requirements to update the program to the modern era (39m13s).
• Personal experiences have shown that some companies have exploited H1B Visa workers in the past, paying them lower wages and threatening deportation if they don't comply with demands (39m40s).
• Many H1B visa holders want more flexibility to work at different companies or start their own businesses, but are struggling with the current visa category due to requirements such as maintaining their status and prevailing wage (41m0s).
• Some companies abuse the H1B category to save money and grind down employees, which is a criticism that has been discussed for years, including 30 years ago when the speaker first heard about it (40m48s).
• To make the H1B visa category more fair to American workers and employees, potential reforms could include increasing the costs for companies, increasing certain elements of the wage requirements, and reforming the number of allocations in the lottery for companies (42m31s).
• The idea of an entrepreneur or investor visa has been discussed as a potential solution, which would provide a separate door for foreign entrepreneurs who want to start a business in the US and have raised a certain amount of money from US investors (43m21s).
• This type of visa would allow foreign entrepreneurs to easily get a visa and start a business in the US by putting a certain amount of money in a bank account and filling out a form (43m40s).
• The politics of implementing such reforms are complex, but the idea of an entrepreneur or investor visa has been discussed with friends in the House and Senate, and could be a potential solution to the issues with the H1B visa category (43m50s).
• The EB-5 Visa, introduced in 1990, allows a foreigner to obtain a visa by investing $1 million in a US company, but has been surrounded by controversy as it is seen as people "buying visas" (43m57s).
• The ideal scenario would be the opposite, where the US invests in the entrepreneur, similar to how the US would want a talented individual like Yao Ming to play in the NBA (44m31s).
• There is a need for a new category or system for high-skill immigration, rather than trying to fix the existing H1B categories, to avoid endless small fixes to a program with larger issues (44m47s).
• A potential solution could be a "FastTrack entrepreneur Visa", and although the international entrepreneurship rule was introduced, it was complicated and not fit for purpose (45m2s).
• Streamlining the immigration system and providing clear opportunities for innovators is crucial, and there is a need to think innovatively to advance US innovation (45m18s).
• The ultimate goal is to advance US innovation, and it is essential to consider every tool available to achieve this goal (45m33s).

Consultancy costs and Jason's simple solutions for H1B visa reform (45m40s)

• The cost of hiring a company to handle H1B visa applications can range from $10,000 to $12,000 per person, which is considered reasonable but not cheap (45m53s).
• To solve the problem of H1B visa abuse, a simple solution could be to implement a minimum salary requirement for H1B visa holders, such as $50,000 to $70,000 per year (46m22s).
• Another solution is to give H1B visa holders one year to find a new job, which would prevent employers from exploiting them (46m31s).
• Employers could be required to pay 10% of the H1B visa holder's salary, up to a certain maximum amount, as a disincentive to abuse the system (46m49s).
• This approach would also generate revenue that could be used to fund STEM education or help individuals who have been misled by "degree mills" pay off their debt (48m21s).
• The goal of these reforms is to eliminate abuse of the H1B visa system, particularly at the low end, and make it easier for high-skilled immigrants to come to the US and contribute to the economy (49m0s).
• By attracting more high-skilled immigrants, the US can gain a talent edge over other countries, leading to faster GDP growth and a stronger nation (49m18s).
• The idea is to create a more open and attractive economy for smart people to come and build, which would ultimately lead to a more prosperous and populous country (49m32s).

The rise and fall of Bench and Level; predictions for startup failures by 2025 (50m5s)

• Bench, a well-known outsourced accounting firm for startups, went out of business at the end of 2024, shocking many due to its popularity and lack of visible financial struggles (50m14s).
• Level, a fintech HR startup that offered benefits and self-insured dental and vision products, also went out of business, with its CEO Paul Aaron citing a failed acquisition deal due to external challenges beyond their control (50m40s).
• The failure of these companies may be attributed to burning too much capital, losing investor faith, and poor unit economics, making it difficult for new investors to deploy capital (51m29s).
• The high valuation and complex investor preference stack may have deterred potential acquirers, leading to a lack of interest in acquiring the companies (52m2s).
• The board of Level may have made mistakes, including potentially trying to replace the founder, but their actions may have been fiduciary and responsible given the company's performance (53m10s).
• The failure of these companies highlights the challenges of executing a successful business model, achieving sufficient margins, and maintaining investor confidence (53m9s).
• Venture capital firms (VCs) rarely remove founders from their companies, and when they do, it's often in extreme circumstances, suggesting the founder was likely at fault, rather than the VC being unfriendly to founders (53m40s).
• The startup world has seen fewer major failures and flameouts among companies that raised large rounds at high valuations in 2021 than expected, but it's possible that 2025 will be the year when many of these companies fail or get acquired for low prices (54m34s).
• Companies that raised a lot of money and have a lot of runway can delay their demise, but eventually, their fundamental issues will catch up with them, and they will struggle to survive (55m13s).
• There may be consolidation in the on-demand and autonomous spaces in 2025, with potential mergers between companies like Amazon, Uber, DoorDash, and others (55m57s).
• A possible merger between Uber and Lyft could be a significant deal in 2025, and companies like Tesla, BYD, and Zoox may also be involved in consolidation efforts (56m13s).

Potential mergers in on-demand and autonomous sectors; viability of an Amazon-Lyft merger (56m21s)

• The combination of Uber and Tesla would be a winning partnership, as it would be difficult for others, including Lyft, to compete with their combined forces (56m23s).
• There are 18 different autonomy providers, with five being the most credible, and pairing them with companies like Uber, DoorDash, or Amazon could create a robust offering (56m46s).
• The end of the "wrath of Lina Khan" could lead to significant acquisitions, such as Amazon buying Whole Foods or a similar company, which would have a substantial impact on the future (57m2s).
• Amazon acquired Zoox in 2020 for $1.2-1.3 billion, and the company has since expanded its operations to San Francisco, Las Vegas, and Foster City, with plans to launch public robotaxis in Vegas (57m43s).
• Zoox has the technology side sorted out, and Amazon's acquisition of Lyft could be a possibility, with Lyft being valued at 1X its trailing revenue, making it a more affordable option compared to Uber and Tesla (58m19s).
• Lyft is roughly break-even profitable on a GAAP basis, with $107 million in adjusted EBITDA in the last quarter, and a trailing operating cash flow of $740 million in the last four quarters (59m16s).
• Buying Lyft would not be a power move for Amazon, as it would not make them a top player globally, and a more significant acquisition, such as buying Uber or DoorDash, would be necessary to make a substantial impact (59m40s).
• Amazon has a history of taking big risks, such as buying Whole Foods, which has been successful, and they may be looking to make a similar move in the future (1h0m4s).
• Uber's membership program, Uber One, has around 20-30 million members, who reportedly spend more money, making the program a powerful tool for increasing consumption and customer lock-in (1h0m49s).
• Amazon Prime and Uber One share similarities as membership programs that encourage increased usage and consumption, and combining the two could be a powerful strategy (1h1m4s).
• The core function of both Amazon and Uber is to move stuff, whether it's products or people, and this similarity could be a key factor in a potential acquisition or merger (1h1m13s).
• If given the opportunity, it's suggested that Amazon, Tesla, or Google should consider acquiring Uber, as it would provide a significant advantage in terms of global footprint and customer base (1h1m47s).
• The potential acquisition of Uber by one of the four major players (Amazon, Tesla, Google, or Waymo) could be a strategic move to gain a competitive edge in the market (1h2m36s).
• A potential merger between Uber and DoorDash is also mentioned, but it raises antitrust concerns, and it's uncertain whether such a deal would be allowed (1h2m51s).
• The idea of acquiring Uber is not just about the company itself, but also about gaining control of its 25 million members and expanding the acquirer's global footprint (1h2m16s).
• The potential acquisition of Uber is seen as a way for one of the major players to gain a significant advantage in the market, particularly with the upcoming launch of Tesla's Cyber taxis (1h2m23s).

Expanding the Mag 8 to reduce tech giant dominance (1h3m8s)

• Expanding the "MAG 8" (a group of dominant tech companies) to include more companies, such as Uber and Airbnb, could reduce the power of each individual member, making them less dominant in their respective markets (1h3m8s).
• Instead of trying to break up the existing MAG 8 companies, it might be more effective to create a larger group, such as a MAG 17 or 20, to dilute their individual power and influence (1h3m20s).
• Breaking up companies like Google by forcing them to spin off subsidiaries like YouTube might not be effective, as it could create new, powerful companies and potentially lead to a MAG 9 (1h3m44s).
• The ride-sharing market is expected to grow significantly, with the total addressable market (TAM) potentially increasing 20 times in the next decade or two, which could lead to a decline in car ownership (1h3m52s).
• Tesla's recent flat year-over-year car deliveries, despite being a record high of 1.8 million, suggest that car ownership may already be experiencing issues, particularly among young people who may prefer alternative transportation options (1h4m8s).
• Companies like Tesla are making bets on the future of transportation, such as the Cybertruck, and acquiring companies like Uber could be a strategic move to ensure success in this space (1h4m23s).
• Other companies, like Amazon or DoorDash, could also potentially acquire Uber to expand their presence in the transportation and logistics markets (1h4m29s).

Valuations of major tech companies (1h4m33s)

• The current valuation of Lyft is $6.03 billion. (1h4m36s)
• DoorDash's valuation is significantly higher at $725 billion. (1h4m39s)
• Uber's valuation is $137 billion. (1h4m45s)
• Tesla's valuation is $1.27 trillion. (1h4m50s)
• Amazon's valuation is $2.35 trillion. (1h4m54s)
• Alphabet's valuation is $2.36 trillion. (1h4m59s)

Overview and support offerings of Founder University and getstartupcredits.com (1h5m26s)

• Founder University is a company that aims to support founders in their early years, particularly in year one and year two, by providing them with access to elite-level services from top companies (1h5m26s).
• The company has partnered with big names such as Oracle, Google Cloud, Cruise, Vant, Zenes, LinkedIn, and HubSpot to offer over $500,000 in startup credits, with the goal of reaching $1 million (1h5m55s).
• Founders can access these services by filling out a form on the website, specifying their needs, such as accounting, hiring, marketing, or cloud computing, and opting-in to be contacted by the relevant providers (1h6m38s).
• The providers must offer generous deals, such as two years of their product or $100,000 in credits, with no strings attached, and must assign an evangelist to support the founders (1h7m6s).
• The contact information of founders who opt-in is shared with the relevant providers, but only if they have expressed interest in their specific service, to avoid wasting time and prevent spamming (1h7m23s).
• The getstartupcredits.com package is an experiment that was tested in the fourth quarter with hundreds of people and a half-dozen partners, and is now expanding to a dozen partners (1h7m48s).
• To be part of the program, companies must offer something of value, such as a free month of their service, and can email Jason to discuss potential partnerships (1h6m58s).