More or Less

• #114 Seed Rounds at $2B? The Dangers of AI Hype in VC With Tony Conrad

  In this episode of More or Less, Brit Morin and Dave Morin sit down with legendary VC Tony Conrad (True Ventures) for a candid conversation on the state of venture capital, the real impact of AI, the death of social media, and why non-attribution and EQ matter more than ever.Chapters:01:30 – The Power (and Rarity) of Non-Attribution in Venture 04:00 – Building Culture After the Dot-Com Crash 06:00 – Why We Don’t Do This for the Money 08:30 – EQ vs IQ: The Human Side of Venture Capital 11:00 – The Wildfire Story: When VCs Show Up as Humans 16:50 – The Best GPs & Firms: Inspiration from Legacy and Newcomers 22:30 – Space Tech Is Real Venture Capital (Not Just AI) 28:10 – Venture Is a Contact Sport: Lessons from Ron Conway 30:40 – AI Hype: Is There Any Money Left for Startups? 40:00 – Manipulation, Social Media, and the Rise of AEO 49:30 – Building Brands in the Age of AI (and Why We Paused Consumer) 55:00 – The Dangers of AI Hype and Overfunding 57:00 – Why Contrarian Investing Can Wait—Focus on AI Now 1:04:00 – Pop Culture Corner: Taylor Swift, Branding, and First Concerts We’re also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessSpotify: https://podcasters.spotify.com/pod/show/moreorlesspodConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

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• #113 GPT-5 Disappoints: The End of the AI Gold Rush?

  This week on More or Less, the crew dives into the shifting narratives around AI (Finally everyone is getting on Sam's wavelength), the reality of LLM business models, and why infrastructure may not be the gold rush everyone thinks. We debate the hype cycles, the authenticity crisis in startup pitches, and the pitfalls of meme coins in the creator economy. Plus, is Burning Man over, and what can Taylor Swift teach us about brand-building in the internet age? As always, join Jessica Lessin, Dave Morin, Brit Morin, and Sam Lessin for an unfiltered, insider take on what’s really happening in Silicon Valley.Chapters:0:40 – Intro and Silicon Valley Homecomings6:40 – AI, SaaS, and the Changing Narrative12:10 – The AI Moment: GPT-5 and the Plateau14:40 – AI Slop and the Devaluation of Content19:40 – OpenAI: From Hype to Sober Reality21:40 – The Problem with Narrative-Driven Startups24:40 – Marketing vs. Product: Who Really Wins?26:40 – Lying, Manifesting, and Silicon Valley Ethics30:40 – The Tower of Babel: Founders vs. VCs vs. AI36:40 – Burning Man: Has It Peaked?39:40 – Polyamory, Netflix Tropes, and the End of Media Originality43:40 – Meme Coins, Crowdfunding, and Creator Economy Pitfalls54:40 – Taylor Swift, Internet Fame, and Brand Lessons for StartupsWe’re also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessSpotify: https://podcasters.spotify.com/pod/show/moreorlesspodConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

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• #112 Swift Should Buy Chrome, Not Perplexity

  This week, the team dives into more meme capitalism, the AI hype cycle, and why San Francisco is still the epicenter of tech ambition (and some very odd real estate choices). We debate the real value behind Perplexity, the future of Chrome, and the myths founders tell themselves about trials and second chances. Plus: Taylor Swift, conspiracy AIs, and the ultimate contrarian takes for VCs and founders. Your usual well rounded and brutally honest weekly episode of More or Less.Chapters:00:00 – Taylor Swift Should Buy Chrome?!02:30 – SF Comeback: The AI Pied Piper Effect06:30 – Meme Capitalism: Conference of the Future14:00 – AI Bubble Watch: Perplexity’s Valuation17:30 – Founder Redemption: Always Call Your VCs20:00 – The Dirty Secret of SaaS Trials25:00 – Chrome Antitrust Circus29:00 – AI Hardware: Bring Back the Flashlight35:00 – Taylor Swift: Peak Culture or Just Getting Started?43:00 – Conspiracy AI: The Next Meme Machine?We’re also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessSpotify: https://podcasters.spotify.com/pod/show/moreorlesspodConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

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• #111 Figma, OpenAI, Canva: the Rise of Meme Stock IPOs in Silicon Valley

  This week on More or Less: Jessica Lessin, Dave Morin, Brit Morin, and Sam Lessin dive deep into the surprisingly busy summer of venture capital, the impact of AI on startups, and the changing rules for founders and investors. From Figma’s IPO and the rise of meme-driven investing to the challenge of diligence in an AI-saturated world, we tackle the uncomfortable truths and new dynamics shaping Silicon Valley today. Chapters:01:46 – Dude Perfect vs. The Circus: The Internet Killed Local Art05:46 – The Creator Quality Bar Keeps Rising07:46 – Figma IPO: Did Wall Street Fleeced Them?10:46 – SaaS Is NOT Back & The Real IPO Signal13:26 – OpenAI: The Ultimate Meme Stock?15:46 – Seed Investing is Broken in the AI Era20:46 – Valley Mood: Exuberance and Angst22:46 – The Feudalism 2.0 Problem39:46 – The Uncomfortable Truth About Founder Age & Life Stage45:46 – Deep Work, Distraction, and the Future of FoundersWe’re also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessSpotify: https://podcasters.spotify.com/pod/show/moreorlesspodYouTube: https://youtu.be/D5Y-WZqsAlEConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

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• #110 Meta's Billion-Dollar Hires: Bubble or Genius?

  What happens when VCs are called the least sophisticated financiers, AI researchers get billion-dollar paydays, and outrage becomes the new marketing? This week on More or Less, the full crew breaks down the state of the AI talent wars, the power of meme-driven marketing, and whether hope (not financial literacy) still drives Silicon Valley. Chapters:01:15 Jersey Shore, Laundry, and Marital Advice05:08 Sydney Sweeney Outrage: Meme Marketing & Stock Surges18:32 VCs Are the Least Sophisticated Financiers22:20 AI Billionaires: Comp Bubbles & Power Laws27:09 Will Billion-Dollar AI Talent Stay?32:24 Social Graph Recruiting: The New Acqui-Hire38:52 AI Comp Bubble: Lessons from the iOS Gold Rush44:22 The Robot That Folds Clothes (and Why It’s a Billion-Dollar Job)50:11 Outrage Marketing: Fad or Future?We’re also on ↓X: https://twitter.com/moreorlesspodInstagram: https://instagram.com/moreorlessSpotify: https://podcasters.spotify.com/pod/show/moreorlesspodConnect with us here:1) Sam Lessin: https://x.com/lessin2) Dave Morin: https://x.com/davemorin3) Jessica Lessin: https://x.com/Jessicalessin4) Brit Morin: https://x.com/brit

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