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

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 ⁠

Subscribe on Apple Podcasts - ⁠https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986⁠

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]

SUBSCRIBE FOR MORE

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

What should VCs actually look for in a fund administration partner?

In this episode of VC10X, we sit down with Shalin Madan, Co-Founder of Formidium - a global fund administration platform supporting venture capital, private equity, hedge funds, and alternative asset managers with over $33B+ in assets under administration.

We go beyond the surface-level checklist and unpack what truly matters when selecting a fund administrator - especially for emerging managers.

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

Topics covered:

• The most overlooked due diligence question when choosing a fund admin
• Why business model sustainability matters more than branding
• How technology reflects internal discipline (and why “banning Excel” matters)
• The hidden costs of managing operations in-house
• Why durability is becoming more important than performance
• How LP scrutiny is evolving
• Why many funds and companies may not survive the next few years

Infrastructure is no longer back office — it’s strategy.

If you're building a fund designed to last 10+ years, this episode will change how you think about operations, risk, and long-term durability.

Timestamps:

(00:00) - The Hidden Costs of In-House Operations

(00:33) - Introduction to Fund Administration and Guest Shaleen Madan

(01:49) - Sponsor: Podcast 10X for VCs

(02:47) - Critical Due Diligence for Selecting a Fund Administrator

(04:16) - How a Tech Stack Signals Quality and Reduces Risk

(05:23) - Early Trends in Capital Flows and Investor Behavior

(07:39) - The Institutionalization of Family Offices

(09:09) - How Emerging Managers Can Handle Future Regulatory Changes

(11:12) - In-House vs. Outsourcing: A Former Fund Manager's Perspective

(13:54) - The Unique Operational Challenges of Crypto-Native Funds

(16:35) - How Back-Office Needs Differ Across Asset Classes

(20:09) - How to Properly Vet a Service Provider's Expertise

(21:33) - A Contrarian Take on Capital Flows and Market Dynamics

(26:56) - The Impact of AI on Pricing Power and Outsourcing

(29:18) - Key Questions LPs Should Ask About Operational Infrastructure

(31:36) - Lessons Learned from Rapidly Scaling a Business

(33:26) - Where to Find Shaleen Madan and Formidium

Connect with Shalin:

Website - https://formidium.com/

Linkedin - https://www.linkedin.com/in/shalin-madan-caia-b00239/

Podcast Links:

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

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

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

Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986

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]

#VentureCapital #FundAdministration #EmergingManagers #PrivateEquity #VC10X

Over the past several weeks, nearly $1 to $2 trillion in market value has been erased from software and SaaS equities.

At the same time, semiconductor foundries and data center infrastructure companies are demonstrating relative resilience, and in some cases outperforming.

This episode examines whether we are witnessing a temporary correction or a structural repricing of the AI technology stack.

We break down:

• The 20 to 25 percent correction in the S&P 500 Software & Services Index
• Why AI-native tooling, including developments from Anthropic and other model providers, is pressuring traditional SaaS assumptions
• The resilience of advanced-node manufacturers like TSMC
• IonQ’s acquisition of SkyWater Technology and what it signals about vertical integration and domestic manufacturing
• The accelerating build-out of power and cooling infrastructure, with companies like Vertiv benefiting from AI-driven density requirements
• Where durable value may accrue across the AI stack

For allocators, venture investors, and operators, this is less about short-term volatility and more about capital rotation.
The key question is no longer whether AI is real.
It is where long-term value concentrates:
Application layer
Compute layer
Physical infrastructure enabling it

If you allocate capital across technology, public or private, this is a critical moment.
Subscribe to VC10X for in-depth conversations with leading fund managers, founders, and LPs navigating the next phase of the AI cycle.

LINKS

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

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

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

Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986

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]

SUBSCRIBE FOR MORE

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

Let us know in the comments:

Is software experiencing temporary multiple compression or structural repricing?

#AI #VentureCapital #SaaS #Semiconductors #DataCenters #TechInvesting #CapitalMarkets

How do the world’s smartest institutional investors actually allocate capital?

In this episode, we sit down with Nolan, a veteran CIO with over two decades of experience allocating capital for endowments, foundations, family offices, and healthcare systems — overseeing more than $90B in assets across public and private markets.

We go deep into how institutions think about risk, liquidity, and long-term returns, why venture capital remains a power-law game, and how investors are navigating today’s biggest shifts — from AI and private credit to diversification risks and market cycles.

This conversation pulls back the curtain on how capital is really deployed behind closed doors — especially in a world where exits are slower, fundraising is harder, and everyone is asking whether we’re closer to 1997… or 1999.

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

What you’ll learn in this episode:

- How institutions decide how much risk they can truly take
- Why venture capital allocations haven’t disappeared — but have slowed
- Private credit vs venture capital: how LPs actually think about the trade-off
- How AI is reshaping portfolios across public and private markets
- Why diversification matters more now than during bull markets
- What CIOs are watching for as we head into 2026

Whether you’re a fund manager, LP, founder, or just curious about how institutional money really works, this episode offers rare, first-principles insight into long-term capital allocation.

(00:00) - Podcast Teaser: Risk, Returns, and Venture Capital

(00:48) - Introduction to Nolan Bean and FEG Investment Advisors

(02:20) - Nolan's Career Journey: From Associate to CIO

(03:16) - What is FEG and the Outsourced CIO (OCIO) Model?

(05:18) - The Four Key Risks for Institutional Investors

(08:32) - Ranking Institutions by Risk Appetite

(10:20) - A Breakdown of Institutional Asset Classes

(13:05) - Institutional Openness to New Investment Strategies

(15:30) - The Evolving Landscape of Venture Capital

(17:36) - Why VC Fundraising Has Slowed Down

(19:12) - Venture Capital vs. Private Credit: An Institutional Debate

(21:32) - Current Institutional Preferences in VC Funds (Stage & Sector)

(24:01) - Evaluating the Risk of an AI Bubble

(26:54) - Domestic vs. Global Allocations

(29:19) - The Unspoken Need for Diversification

(31:29) - Commodities as a Portfolio Hedge

(34:29) - Advice for Fund Managers Raising Capital

(36:22) - Market Outlook and Expectations for 2026

Connect with Nolan:

https://www.linkedin.com/in/nolanbean/

Podcast Links:

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

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

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

Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986

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]

AI isn’t just replacing jobs anymore — it’s starting to hire humans.

In this episode of VC10X, we break down two viral projects that reveal where AI agents are really headed: one where AI agents rent humans to execute real-world tasks, and another that functions as a social network built exclusively for AI agents.

These aren’t gimmicks. They’re early signals of how labor, coordination, and intelligence may evolve in an AGI world.

We explore:

• Why AI agents need humans to operate in the physical world
• How agent-to-agent social networks accelerate collective intelligence
• What “humans as execution layers” actually means
• The new startup categories this unlocks
• Why AGI may emerge as a network, not a single model
• What fund managers and investors should be paying attention to now

If you care about AI, AGI, venture capital, and how human labor fits into a machine-driven future — this episode is for you.

LINKS

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

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

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

Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986

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]

SUBSCRIBE FOR MORE

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