Airtable’s 80% off value crash: VCs explain why it’s still a win | E2321

Summary

A VC roundtable analyzes Airtable's discounted $2.25B acquisition by Bending Spoons as a rational outcome for investors and founders amid slower growth. The panel discusses secondary sale strategies as private holding periods lengthen, Robinhood's surging prediction market revenue, the challenges and communication needed when investing in vice categories, the transformative impact of open-source AI models on venture capital operations, and the Apple-OpenAI lawsuit over talent mobility, ending with each investor highlighting a recent exciting startup.

• Airtable's $2.25B sale was a reasonable result for early investors given $400M+ ARR and 20% growth.
• Bending Spoons and Constellation Software exemplify a rollup model that cuts costs and raises prices on legacy software assets.
• Robinhood's prediction market revenue now exceeds stock trading revenue and ranks second to options.
• Venture capitalists are adopting formal secondary sale policies because companies stay private for decades.
• Open-source AI models are dramatically increasing VC firm productivity and startup building speed.
• Jason Calacanis is bullish on Apple, citing the upcoming AI-native Mac Studio as a catalyst.
• The panel stresses founder integrity and communication when navigating corporate IP and leaving big tech to start companies.