VC10X - Investing, Venture Capital, Asset Management, Family Office, Wealth Management

Google's latest earnings weren't just about another strong quarter.

They offered one of the clearest signals yet on the health of the AI investment cycle.

From resilient Search revenue to continued Cloud growth and massive AI infrastructure spending, the results suggest that AI is becoming deeply embedded across Google's business—not just as a product, but as a platform.

In this episode, we break down what Google's earnings mean for the broader AI thesis and why investors across the semiconductor, cloud, and infrastructure ecosystem should be paying attention.

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

Key topics we explore:

– What Google's earnings reveal about AI adoption
– Why Search remains more resilient than many expected
– How Gemini and AI are being integrated across Google's products
– Why Google Cloud remains a key beneficiary of enterprise AI
– What continued AI infrastructure spending means for Nvidia, TSMC, ASML, Micron, and the broader supply chain
– The key metrics investors should watch over the coming quarters

The bigger question:

Are Google's results evidence that AI is already generating real business value, or is the market still too optimistic about long-term returns?

For investors, Google's earnings provide another important data point that the AI infrastructure buildout—and enterprise adoption of AI—remains firmly on track.

LINKS

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

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VC10X website - ⁠https://vc10x.com⁠

For sponsorship queries reach out to prashantchoubey3@gmail.com

This channel is for asset managers, allocators, and investors who want analysis that holds up—not headlines dressed as insight.

Subscribe for weekly data-driven breakdowns of the forces reshaping capital markets.

#Google #Alphabet #AI #ArtificialIntelligence #Gemini #GoogleCloud #Nvidia #ASML #TSMC #Micron #Semiconductors #Investing #TechStocks #VC10X #Finance #CloudComputing #BigTech #Earnings #WallStreet #Markets

ASML may have delivered the most important earnings report of the week for semiconductor investors.

The company raised its full-year sales guidance again, reported a sharp increase in memory-related revenue, and announced plans to expand EUV lithography production by around 30% annually in 2027 and 2028.

While the headlines focused on ASML, the implications extend far beyond one company.

In this episode, we break down why ASML's latest results reinforce the broader AI infrastructure story—and what they mean for companies across the semiconductor supply chain.

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

Key topics we explore:

– Why ASML is one of the most important companies in the AI ecosystem
– What the latest earnings reveal about global semiconductor demand
– Why memory-related revenue surged and what it says about HBM demand
– How strong EUV orders reinforce the long-term AI infrastructure buildout
– The read-through for Nvidia, TSMC, Micron, SK hynix, and other semiconductor leaders
– Why investors should watch semiconductor equipment companies as closely as AI chip designers

The bigger question:

If the AI infrastructure boom were slowing, would ASML be raising guidance and expanding production capacity?

For investors, ASML's earnings provide another important data point that demand for advanced semiconductor manufacturing—and the AI infrastructure powering it—remains robust.

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 prashantchoubey3@gmail.com

This channel is for asset managers, allocators, and investors who want analysis that holds up—not headlines dressed as insight.

Subscribe for weekly data-driven breakdowns of the forces reshaping capital markets.

#ASML #Semiconductors #AI #ArtificialIntelligence #Nvidia #TSMC #Micron #SKHynix #HBM #EUV #ChipStocks #Investing #TechStocks #VC10X #Finance #VentureCapital #DataCenters #SemiconductorEquipment #WallStreet #Markets

Has the AI funding boom peaked?

Many investors expected higher interest rates, rising infrastructure costs, and questions around AI monetization to slow venture capital activity.

Instead, the opposite is happening.

New AI unicorns continue to emerge, with billions of dollars flowing into AI infrastructure, enterprise software, robotics, and cybersecurity.

In this episode, we break down where venture capital is placing its biggest bets—and what that means for the next phase of the AI economy.

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

Key topics we explore:

– Why AI funding remains incredibly strong despite macro uncertainty
– The startups attracting the largest funding rounds across AI infrastructure, enterprise AI, robotics, and cybersecurity
– Why investors are backing companies like Thinking Machines Lab, Glean, Harvey, Figure AI, and Skild AI
– How venture capital is shifting from foundation models to the broader AI ecosystem
– What today's private market funding says about tomorrow's public market opportunities
– Why infrastructure, automation, and enterprise software could become the next major AI winners

The bigger question:

Are we witnessing another venture capital bubble, or are investors funding the next generation of category-defining AI companies?

For investors, following where the smartest venture capital is flowing can provide an early signal of where long-term value is being created.

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 prashantchoubey3@gmail.com

This channel is for asset managers, allocators, and investors who want analysis that holds up—not headlines dressed as insight.

Subscribe for weekly data-driven breakdowns of the forces reshaping capital markets.

#AI #ArtificialIntelligence #VentureCapital #Startups #EnterpriseAI #Robotics #Cybersecurity #Infrastructure #Investing #VC10X

David Hornik is the Founding Partner of Lobby Capital, an early-stage venture firm built on concentrated, conviction-driven investing. Before founding Lobby, he spent 20 years as a General Partner at August Capital, where he was the earliest investor in Splunk and backed companies like WePay, Bill.com, and Fastly.

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

In this episode we cover:

→ Why three out of four VC firms couldn't raise a fund last year — and why Lobby Capital did
→ 2000 vs. today: the one structural difference that makes this AI cycle harder to navigate
→ Dancing among giants — what it takes for startups to survive next to Google, Meta, and Microsoft
→ The two deals that got away: LinkedIn, Uber, and the lessons that came out of missing them
→ Why Lobby Capital passed on Airbnb's Series A — and has never used a formal voting system since
→ Splunk and big data — betting on a problem nobody else was talking about in 2004
→ The exit landscape: mega IPOs, a record M&A market, and why liquidity may not reach everyone

Links:

Lobby Capital: https://lobby.vc
Connect with David on X: davidhornik
Connect with Prashant: https://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

Timestamps:(00:00) - Preview

(00:48) - Guest Introduction: David Hornik, Founding Partner at Lobby Capital

(02:32) - Fundraising for Lobby Fund Two in a Tough LP Market

(03:57) - Key Learnings from Fundraising: Fund One vs. Fund Two

(05:45) - Comparing the Current Market to the 2000 Dot-Com Bubble

(09:15) - The Current Sentiment-Driven Correction in AI Markets

(10:27) - On Irrational Valuations and the "SaaS-pocalypse"

(13:05) - Strategies for Startups: Finding a Proprietary Position

(15:17) - Why Lobby Capital Avoids Late-Stage Special Opportunity Funds

(16:45) - Learning from Passing on LinkedIn and Uber

(21:23) - The Importance of Being Valuation Sensitive

(24:15) - Backing Unconventional Founders and the Airbnb Miss

(27:41) - The Splunk Investment: Solving a Real, Unseen Problem

(30:16) - Lobby Capital's Conviction-Driven Model Without Formal Voting

(32:45) - Building Psychological Safety with Founders Remotely

(35:30) - The Current Exit Landscape: A Tale of Two Cities

(39:03) - The Playbook for Supporting an Overwhelmed Founder

(42:02) - Contrarian Take: The Real Opportunity is in Empowering Humans

(43:45) - Rapid Fire Round Begins

(43:58) - Investment Focus: Great People Solving Problems with Software

(44:28) - Typical Investment Stage: First Professional Money In

(44:45) - Why Lobby Capital Always Leads Rounds

(45:42) - Typical Initial Check Size

(46:08) - How Founders Can Get in Touch

(46:32) - Where to Follow David and a Tribute to Om Malik

Reports that Meta is selling excess AI compute sparked an important question across the investment community:

Is this the first sign that AI demand is slowing?

Or is the market reading too much into a normal part of operating hyperscale infrastructure?

In this episode, we separate headlines from fundamentals and examine what Meta's move could actually mean for the broader AI investment thesis.

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

Key topics we explore:

– Why Meta may be selling excess compute capacity
– Does this signal weakening AI demand or simply better capital allocation?
– How hyperscalers think about infrastructure utilization
– What this means for Nvidia, Micron, and the broader AI supply chain
– Why compute utilization is becoming just as important as compute capacity
– The key indicators investors should monitor to assess the health of the AI buildout

The bigger question:

Is Meta's decision an early warning sign for the AI infrastructure boom, or evidence that the industry is entering a more mature phase where optimizing compute matters as much as building it?

For investors, understanding the difference between excess capacity and weakening demand is critical to evaluating the next phase of the AI race.

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 prashantchoubey3@gmail.com

This channel is for asset managers, allocators, and investors who want analysis that holds up — not headlines dressed as insight.

Subscribe for weekly data-driven breakdowns of the forces reshaping capital markets.

#Meta #AI #ArtificialIntelligence #Datacenter #Nvidia #Micron #Semiconductors #CloudComputing #Investing #Stocks #TechStocks #VC10X #Infrastructure #CapitalMarkets #Finance #VentureCapital #WallStreet #BigTech