This Week in Startups
This Week in Startups
Jason Calacanis
VCs Would Bet on Open-Source AI Over OpenAI and Anthropic | E2341
1 hour 27 minutes Posted Sep 23, 2026 at 10:56 pm.
What seed rounds looked like then: Fitbit's $2M seed
Jenny's Techstars NYC years and the two-unicorn mug
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All-In Summit: Trump calls Jensen Huang onstage. Staged or not?
P(doom) roundtable + Dave's AI sovereign wealth fund prediction
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The AI intel error that nearly triggered a US-China incident
"McClure's Law": a human with AI is the real risk
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Stripe + OpenRouter: an anti-fraud play, not a routing play?
Seed valuations: median $8M (2017) to $28M today
Instinct: $2.5B to a reported $10B in weeks
Rippling Thanks to our partners at Rippling! Head to https://Rippling.ai/twist and get the only AI built to give you full visibility across your startup and take complex actions across your entire business.
Opus 5.5 vs. GPT-6 Sol: the same-day price war
Gun to your head: open-weight models or frontier labs?
Secondaries: the top 30 names vs. everyone else
Why fintech and healthcare are unloved (and Jason's Robinhood bet)
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Today’s show:
Anthropic and OpenAI released cheaper models on the same day with Claude Opus 5.5 and GPT-6, and these VCs would still bet on open source. Jason brings on Dave McClure of Practical Venture Capital, Jeff Clavier of Uncork Capital, and Jenny Fielding of Everywhere Ventures to discuss the argument for open-weight models over the frontier labs.
Learn why median seed valuations have more than tripled since 2017. Why does Dave say it's a buyer's market for secondaries right now? PLUS, does Meta's Muse leave any room for Instinct, and why are fintech and healthcare suddenly out of favor?
Guests:
Dave McClure on X: https://x.com/davemcclure?lang=en
Practical Venture Capital: https://practicalvc.com/
Jeff Clavier on X: https://x.com/jeff
Uncorked Capital: https://uncorkcapital.com/
Jenny Fiedling on X: https://x.com/jefielding
Everywhere Ventures: https://www.everywhere.vc/
Relevant Links:
Instinct reportedly seeking $1B at a $10B valuation (report via The Information) → https://cryptobriefing.com/ai-assistant-startup-instinct-targets-10b-valuation-in-new-funding-talks-report/
Meta's Muse, the agent the panel sees as Instinct's biggest threat, now on Mac → https://aiweekly.co/alerts/meta-ships-muse-for-mac-agent-now-acts-in-native-macos-apps
Trump calls Jensen Huang onstage at the All-In Summit → https://thenextweb.com/news/trump-phoned-jensen-huang-onstage-at-the-all-in-summit-to-call-ai-fear-a-hoax
AI-assisted intel error nearly triggered a US intercept of a Chinese ship (CNN via gCaptain) → https://gcaptain.com/ai-error-nearly-triggered-u-s-intercept-of-chinese-ship-cnn-reports/
Bernie Sanders' 50% AI sovereign wealth fund bill + Altman meeting (Fortune) → https://fortune.com/2026/06/18/bernie-sanders-ai-fund-bill-sam-altman-1000-payments/
Stanley Druckenmiller's AI-written WSJ op-ed (Axios) → https://axios.com/2026/08/26/stanley-druckenmiller-ai-writing-wsj-op-ed
Claude Opus 5.5 and GPT-6 Sol/Luna launch the same day with price cuts (SiliconANGLE) → https://siliconangle.com/2026/09/22/anthropic-releases-claude-opus-5-5-and-openai-counters-with-two-cheaper-gpt-6-models/
Zipline: LAUNCH's "miss," later backed through the syndicate → https://www.flyzipline.com/
Micro1 → https://www.micro1.ai/
Founder University → https://www.founder.university/ [VERIFY]
The Syndicate: angel invest alongside LAUNCH (apply, waitlist) → https://thesyndicate.com/
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