VC10X - Investing, Venture Capital, Asset Management, Private Equity, Family Office

In one week, Claude went from #131 to #1 on the App Store. ChatGPT uninstalls surged 295%. And Sam Altman publicly admitted his company's communications were "opportunistic and sloppy." We break down exactly what happened — and what it means for the future of AI investment.

In this episode:

→ Why Anthropic walked away from a $200M Pentagon contract — and what their two specific red lines were
→ The full timeline of Sam Altman's communications breakdown: the vague X post, the AMA that backfired, and the Monday admission
→ Why the enterprise data is the most important story nobody is talking about (50%+ of US business AI spend)
→ Anthropic's $20B revenue run rate and what the download data actually shows
→ What this week means for investors watching the AI competitive landscape

LINKS

Prashant Choubey - ⁠https://www.linkedin.com/in/choubeysahab⁠

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#Anthropic #OpenAI #AIInvesting #Claude #ChatGPT #VC10X #VentureCapital #TechInvesting`

In the inaugural Family Office Roundtable at VC10X, host Prashant sits down with Ronald Diamond, Founder & Chairman of Diamond Wealth, and Wendy Craft, CEO of Elle Family Office, for a candid conversation on what's really happening inside family offices today.

From AI tools that are already replacing analysts, to the private equity liquidity crisis, to the $124 trillion wealth transfer heading to the next generation.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

What we cover:

- How AI is transforming deal flow, due diligence & the analyst role
- Where family offices are allocating right now — and what's broken in private equity
- Why after-tax returns are the only number that matters
- The rise of ETFs and tax-loss harvesting as game changers for families
- SFO vs. MFO — and why 85-90% of family offices shouldn't exist
- Next gen wealth transfer & why most families are failing at it
- The role of family office capital in solving real-world problems

Timestamps:

(00:00) - Introduction: The Future of Family Offices

(01:26) - Welcoming Guests: Ronald Diamond & Wendy Craft

(02:18) - The Role of AI in Family Offices

(03:40) - A Cautious Approach to AI Investment

(04:52) - How AI is Disrupting Due Diligence

(07:43) - Replacing Analysts with AI to Cut Costs

(09:42) - AI Efficiency vs. The Need for Human Oversight

(11:17) - Case Study: How Large Families Use AI for Efficiency

(13:12) - Can AI Handle Proactive Deal Sourcing?

(14:16) - The Importance of Human Networks in Deal Flow

(15:58) - Portfolio Construction: Public vs. Private Markets

(17:52) - The Problem with Private Equity's Long Lock-up Periods

(19:57) - Contrasting Private Equity with the Family Office Model

(22:30) - The Tax Angle: Liquidity vs. Long-Term Investment

(24:10) - The Growing Focus on After-Tax Returns

(27:00) - The Emergence of ETFs for Tax Efficiency

(29:13) - Venture Capital Investing Styles for Family Offices

(31:28) - Why Inexperienced Family Offices Should Outsource VC

(34:26) - The Rise of OCIOs for Next-Generation Wealth Management

(35:54) - The Future: Outsourcing to MFOs and OCIOs

(38:22) - MFOs vs. OCIOs: What's the Difference?

(41:28) - Educating and Including the Next Generation

(44:20) - How the Next Generation's Investment Interests Differ

(45:00) - The Philanthropic Potential of Family Offices

(48:01) - Youth's Belief in AI to Solve Societal Issues

(49:23) - The Negative Impact of Technology on Mental Health

(54:55) - Portfolio Hedges: Gold, Silver, and Bitcoin

(56:31) - The Evolution of Cryptocurrency as an Asset Class

(58:13) - Skepticism and Risks in the Crypto Market

(01:02:43) - Interest in Gold, Silver, and Critical Minerals

(01:03:23) - Parting Advice for Family Offices

(01:03:54) - Ron's Advice: Run it Like a Business or Outsource

(01:04:56) - Wendy's Advice: The Efficiency of MFOs for Most Families

--

Guests:

🔹 Ronald Diamond — Founder & Chairman, Diamond Wealth | Syndicate of 100+ Family Offices ($250M–$30B)
🔹 Wendy Craft — CEO, Elle Family Office | Atlanta, GA

---

LINKS

Wendy Craft - https://www.linkedin.com/in/wendy-craft-7281176

Ronald Diamond - https://www.linkedin.com/in/ronalddiamond

Prashant Choubey - ⁠https://www.linkedin.com/in/choubeysahab⁠

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VC10X website - ⁠https://vc10x.com⁠

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Subscribe for more conversations at the intersection of family office investing, private markets, and emerging trends in wealth management.

#FamilyOffice #PrivateEquity #WealthManagement #AI #VentureCapital #NextGen #Investing

Sam Altman recently defended AI's massive energy consumption by saying humans are energy-intensive too — consuming energy for 20 years before becoming useful. We think it deserves a harder look.

In this episode, we break down why that comparison is more than a clever deflection. We examine what AI's learning actually runs on and why that changes the argument entirely, why reducing humans to an efficiency metric is a framing worth resisting, and why this particular narrative is one that venture capitalists find very easy to fund — which tells you something important in itself.

We also look at what this means practically for investors: how to stress-test civilisational storytelling, which regulatory risks are being underpriced, and why energy intensity is a structural cost question as much as an environmental one.

No drama. Just clear analysis of a soundbite that slipped past most people — and probably shouldn't have.

LINKS

Prashant Choubey - ⁠https://www.linkedin.com/in/choubeysahab⁠

Subscribe to VC10X newsletter - ⁠https://vc10x.beehiiv.com⁠

Subscribe on YouTube - ⁠https://youtube.com/@VC10X ⁠

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Subscribe on Spotify - ⁠https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQ⁠

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Ankur Sethi spent years at two of India's most iconic startups — Swiggy and Paytm — before leaving his operating role to found Winner Capital, a consumer-first, AI-native syndicate investing out of North America.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

In this episode, we get into:

→ Why consumer AI is massively underfunded while enterprise SaaS gets all the attention
→ What "durable retention" actually looks like — and the ambassador signal every founder should watch for
→ The 0→1, 1→10, 10→100 framework and how your mindset must shift at each stage
→ Why unit economics are non-negotiable even at pre-seed
→ The one operating principle from Swiggy & Paytm that most founders underestimate until it's too late
→ Why launching a fund during a market correction is actually an advantage
→ His honest take on India as a market — and when Winner Capital plans to enter

If you're a founder building in consumer tech or AI, or an operator thinking about making the leap into venture, this one is for you.

🔔 Subscribe for weekly conversations with the investors shaping the next generation of startups.
📩 Reach Ankur at [email protected] or find him on LinkedIn - https://www.linkedin.com/in/1ankursethi/

Timestamps:

(00:00) - Two narratives of AI: Just getting started vs. over-hyped.

(00:49) - Introduction to Ankur Sethi and Winner Capital.

(02:21) - The market gap that led to starting a consumer-focused AI fund.

(03:40) - Why Ankur believes we are just at the start of the AI revolution.

(06:23) - Winner Capital's focus on the AI application layer for consumers.

(07:32) - Managing fund dynamics for deep tech vs. software AI investments.

(10:07) - A founder conversation that changed Ankur's conviction about a market.

(15:26) - Clearest indicators of durable retention in consumer AI.

(18:21) - The opportunity of launching a fund during a market correction.

(20:27) - The operational shift from the 0-to-1 to the 10-to-100 million journey.

(26:01) - The one operating principle from Paytm/Swiggy that founders underestimate.

(30:01) - Balancing growth vs. unit economics at the seed stage.

(36:08) - Ankur's perspective on India as a market and talent base.

(38:57) - Start of the rapid-fire round.

Podcast Links:

Prashant Choubey - https://www.linkedin.com/in/choubeysahab

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Subscribe on YouTube - https://youtube.com/@VC10X

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VC10X website - https://vc10x.com

For sponsorship queries, reach out to [email protected]

#consumerai #venturecapital

Anthropic was founded by former OpenAI leaders who left over safety concerns.

Now, Anthropic’s own safety lead is leaving over safety concerns.

In the same week:
• Claude Cowork wiped $285 billion off SaaS market caps
• Anthropic is reportedly closing a $20 billion round at a $350 billion valuation
• And an internal letter warns that the organization “constantly faces pressures to set aside what matters most”

This episode breaks down the structural tension at the heart of the AI race:

– Can frontier labs remain safety-first at $350B valuations?
– How capital markets distort governance incentives
– Why “catastrophic scenario avoided” is invisible to investors
– The prisoner’s dilemma forming between OpenAI, Anthropic, and Big Tech
– What this means for SaaS, labor displacement, and regulatory risk

This is not a philosophical debate.

It is capital allocation risk at system scale.

For fund managers, venture investors, and operators, the question is simple:

Can safety survive trillion-dollar incentives?

LINKS

Prashant Choubey - ⁠https://www.linkedin.com/in/choubeysahab⁠

Subscribe to VC10X newsletter - ⁠https://vc10x.beehiiv.com⁠

Subscribe on YouTube - ⁠https://youtube.com/@VC10X ⁠

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Subscribe on Spotify - ⁠https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQ⁠

VC10X website - ⁠https://vc10x.com⁠

For sponsorship queries reach out to [email protected]

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VC10X breaks down the most important stories in finance, tech, and markets every week. Subscribe for actionable insights.