20VC: OpenAI's Multi $BN Deal with AMD | Polymarket, Vercel and Supabase Raise Mega Rounds | Does King Making Really Work in Venture Capital: Harvey vs Legora | Chamath is Back: The SPAC is Back

This episode of 20VC features a discussion on recent events and trends in the tech and venture capital world. The panel analyzes OpenAI's partnership with AMD, including the implications of OpenAI potentially acquiring a stake in AMD, and contrasts it with NVIDIA's relationship with OpenAI. They delve into the announcements from OpenAI's Dev Day, particularly the integration of apps into ChatGPT, and debate whether these announcements are truly innovative or just a rehash of existing concepts like Slack integrations. The conversation shifts to large funding rounds, questioning whether the valuations and deal structures break traditional venture capital math, and examines the implications of LPs selling VC stakes. They also discuss the challenges faced by companies like Snyk in maintaining growth and the potential for SPACs to re-emerge as a viable alternative to IPOs, touching on Chamath Palihapitiya's new SPAC terms. Finally, the panel touches on the topic of kingmaking in venture capital, and debates the extent to which venture capitalists can influence the success of companies through early and large investments.