Jason

曲凯 × Jason

Articular AI 已开始放量，邀约邮件打开率约 80%、转化率 15%–20%，注册用户 7 万出头且湾区占比超 40%。匹配改善主办方获客与出席率，曾有活动因到场超预期而场地不够坐，并带来复购。Jason 称背景与意图向量及真实互动信号构成壁垒；团队带宽仍限制扩张，明年目标每周超 200 场。

Harry Stebbings × Jason

The proposed $60 billion Cursor/xAI-SpaceX tie-up is an IPO-contingent option, pairing Cursor’s coding revenue with xAI’s roughly $20 billion Colossus infrastructure and little revenue.SpaceX’s premium multiple makes Cursor comparatively cheap currency, but the deal’s closing risk and the panel’s split over whether $60 billion is a high-water mark or new floor keep AI M&A and Anthropic’s $1 trillion scarcity price in focus.

Harry Stebbings × Jason

Anthropic’s $30B raise at a $380B post-money valuation is venture’s dominant momentum trade, fueled by unprecedented growth and enterprises willing AI into existence before returns are proven.That budget shift pressures public SaaS, while OpenClaw’s sale to OpenAI signals autonomous-agent disruption; Anthropic’s semiconductor-like compute burden and a possible retrenchment two-plus years out remain central risks.

Jason

Benchmark’s latest partner loss highlights elite solo-investor leverage, while LPs increasingly fund exceptions to small-fund and team-cohesion doctrine when records like Elad Gil’s justify independence.Anthropic’s apparent revenue reacceleration supports a valuation reset toward $150 billion–$180 billion, but AI capex, developer spending and OpenAI’s $800 billion question remain unresolved swing factors.