20VC: 50% of Funds Will Go Out of Business | Why Growth Expectations Today are BS and Will Not Last | Why Oren Zeev Takes $0 Management Fees But 30% Carry | Why GPs Should Not Tell LPs Their Strategy

Oren Zeev, a solo capitalist managing over a billion dollars in AUM, discusses contrarian investing, AI's impact, and venture capital fund management. Zeev emphasizes avoiding crowded markets and focusing on companies that can become market leaders, cautioning against prioritizing growth over healthy economics. He believes AI presents opportunities for incumbents who adapt, using Navan as an example of a company benefiting from AI in customer support and experience. Zeev also addresses LP concerns about rapid fund deployment, advocating for concentrated investments and radical alignment with LPs through zero management fees and significant personal investment in his funds. He expresses optimism about AI's transformative potential, while acknowledging political and labor displacement risks.