MANG VC "Round Trip" Phenomenon in AI

Infinite Curiosity Pod with Prateek Joshi

Apoorv Agrawal is a partner at Altimeter, a tech-focused crossover firm with investments in iconic companies such as Snowflake, Twilio, UiPath, Uber, Okta, Roblox, HubSpot, GitLab, and more. He focuses on software and AI investments. He was previously an investor at Softbank and Steadview. Prior to this, he was building AI software at Rocket Fuel and Palantir as an engineer. He continues to code to this day and has built AltimeterGPT to augment their research efforts. He has a bachelors in computer science and an MBA from Stanford.
(00:33) The Rise of MANG VC
(03:01) Capital Deployed by MANG VC
(04:27) Impact of ChatGPT on Investment Strategies
(07:16) The "Round Trip" Effect
(10:05) Legality and Market Distortion
(12:19) Margin Profiles of AI Businesses
(15:28) Valuing Modern AI Businesses
(18:30) Market Distortions and Downstream Effects
(21:56) Considerations for Raising Capital from MANG VC
(26:19) Role of MANG VC in the Next Two Years
(35:02) Rapid Fire Round
Apoorv's favorite book: Man's Search for Meaning (Author: Viktor Frankl)
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Where to find Prateek Joshi:
Newsletter: https://prateekjoshi.substack.com
Website: https://prateekj.com
LinkedIn: https://www.linkedin.com/in/prateek-joshi-91047b19
Twitter: https://twitter.com/prateekvjoshi