In this special episode of Generative Now, Lightspeed Partner Michael Mignano talks with Semil Shah, founder and partner of Haystack VC and partner at Lightspeed. Together, they have a wide-ranging, unfiltered conversation on the state of AI, venture capital, and the future of media. They get into everything from Meta’s high-stakes AI talent spree and Apple’s uncertain strategy, to the Figma IPO, to the evolution of the seed stage, and the brewing battle between AI agents and the open web. Semil also shares hard-earned insights on founder strategy, brand building, and why design still wins.
Episode Chapters:
00:00 Introduction
00:30 Reflecting on Long Island
01:47 M&A Frenzy and Talent Wars
02:10 Meta's Strategic Moves
06:30 Apple's AI Strategy
11:12 Figma's IPO Success
21:33 The State of Seed Investing
25:30 The Model's Mathematical Basis
26:00 Case Study: Firebase Acquisition
27:19 Seed Fund Strategies and Challenges
30:30 Founders' Incentives and Signal Risk
36:40 AI Agents vs. CDNs: A Legal Playground
42:57 The Evolution of Podcasts and Media
51:31 The Future of AI Branding
56:03 Conclusion and Final Thoughts
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