Top VC Reveals How to Win the AI Game | OpenAI’s Billion-Dollar Losses ft. Manav Garg | IBP 48
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Video Introduction:
“Sam Altman says, we might be in an AI bubble. So why are billion-dollar companies being built almost overnight?”
To understand this wild AI space, I speak with Manav Garg, Founder of Together Fund - the VC backing some of India’s fastest-growing AI startups, including Emergent, which scaled to $15M ARR in just 90 days.
In this conversation, we discuss-
- Why most AI startups are being built on negative gross margins
- Why apps will fade and agents will own users
- The mental models VCs use to spot hard, non-obvious problems early
- Why India might be the most underrated AI market globally
If you’re building, investing, or trying to make sense of where AI is really headed, this conversation will change how you think.
Timestamps:
00:00 - Introduction
01:58 - Message to Viewers
02:16 - Podcast Agenda
03:53 - The AI Race Today
05:00 - What Is Emergent?
07:13 - Vibe Coding Explained
08:52 - Advice for Young Engineers
11:23 - Problems 'Worth' solving for
17:35 - Is Search & Browsing dying?
23:24 - GTM for AI Startups
32:07 - How to become a World class product guy?
34:42 - How AI Economics work?
37:26 - Why AI Startups Lose Money?
39:41 - Orchestration Layer Explained
40:49 - Ways to get funded by Together Fund
45:29 - Building a Funding Pitch
50:01 - Podcast Summary
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