20VC: Inside Accel's $4BN Growth Investing Machine | Cursor is Dead is Total BS: Here is Why | What Missing Rippling and ElevenLabs Taught Us | Are $2BN-$10BN IPOs Dead | Why Now is a Great Time to be Thoma Bravo with Miles Clements
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · The Twenty Minute VC
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Show Notes
Miles Clements is a Partner @ Accel where he helps to lead their growth fund. At Accel, Miles has led or invested in Atlassian, Cursor, Linear, and more.
AGENDA:
03:38 Where is True Alpha and Value in a World of AI
05:10 Why it is Total BS that Cursor is Dead
07:55 Why Cursor Were Not Wrong to Build Their Own Models
09:38 What is the Upside When Investing in Cursor at $27BN?
15:12 Do Sub $10BN Outcomes Even Matter to a Fund the Size of Accel?
17:07 Losing ServiceTitan: Investing Lesson Learned…
19:55 Missing Rippling: What We Learned
27:20 What is Accel's Win Rate
30:22 How VCs Approach Ownership Has Changed
35:09 Does Miles Feel Happier or Sadder to be an Anthropic Investor Post Pentagon Debacle
36:45 What Happens to Companies Like Miro and Snyk with High Prices to Live Upto?
38:05 Why it is a Great Time to Be Thoma Bravo and Vista
38:36 Why Founder-Led Companies Are Always Better
41:12 Why Would Any Founder Go Public Today
43:48 When is the Right Time to Take Chips Off The Table?
45:24 Should VC Firms Have Evergreen Funds and Be Responsible for Public Positions
50:28 You Can Pick Any VC to Join Accel, Who Does Miles Choose…