Nabeel Hyatt, GP @ Spark Capital: To Win in AI, Investors Need to Change Their Approach

Nabeel Hyatt is a General Partner @ Spark Capital, one of the leading firms of the last decade with portfolio companies including Twitter, Anthropic, Coinbase, Affirm, Discord, Deel and more. 

In Todays Show with Nabeel We Discuss:

1. The Rules of Investing:

• What have been Nabeel’s biggest lessons on price sensitivity? When did he not pay up and with the benefit of hindsight, wish he had of paid up?

• How important is ownership to Nabeel and Spark? How does Nabeel think about reserve investing and doubling down?

• Why does Nabeel not engage in secondary markets? How does Nabeel think about when is the right time to sell?

• Why does Nabeel think the majority of market sizing is total BS?

2. The Venture Landscape: Run by Principles and Broken: 

• Why does Nabeel believe this generation of AI investing will require a different mindset to the one that made VCs successful over the last decade?

• Why does Nabeel believe that venture is currently run by principals and associates? Why is that such a problem?

• Why does Nabeel believe that the majority of venture firms today are dead but do not know it yet?

• What does Nabeel believe happens to the mega multi-stage firms who have raised billions and billions?

3. How to Win the VC Game in a World of AI:

• Infrastructure, models, apps: where does Nabeel believe the most value will accrue in the next decade of AI investing?

• What does Nabeel mean when he says there are three categories of AI apps today? Where does Nabeel believe the most valuable will be built?

• Does Nabeel believe Deepseek hurt or helped the future for Anthropic? How could Anthropic be a $100BN company from this point?

• What does no one see about the next 10 years of AI that everyone should see?