Sourcery

Jake Paul and Geoffrey Woo join Molly O’Shea on Sourcery to break down their venture strategy, Anti Fund, and the operator-to-investor flywheel Jake has built across sports, consumer, media, and venture. 
With companies like: W, Betr, Anti Fund, Most Valuable Promotions, Boxing Bullies, Celsius, Dog Haus, & his new ranch, Jake explains how his broader empire building strategy centers on ownership, distribution, and long-term compounding rather than one-off wins.
Specifically, we go inside Anti Fund (~$65M+ AUM, currently deploying a ~$30M vehicle) and explain why they avoid rigid “seed-only” or “growth-only” mandates—writing small entry checks to build conviction, then scaling into larger positions as companies prove out. In an AI-accelerated market where timelines compress quickly, adaptability becomes the edge.
Jake shares why investing has become his “first love,” giving him proximity to frontier founders, including a close relationship with OpenAI. He reflects on helping shape the viral Sora moment and on lessons learned from Sam Altman around speed, decisiveness, and eliminating wasted time—while Geoffrey argues that as AI commoditizes execution, culture, taste, and distribution become the true moats.
The episode captures a new venture archetype built on cultural gravity and direct access. With Logan Paul joining the partnership, Anti-Fund is positioning itself to compete with top firms while backing long-horizon themes like AI infrastructure, applied AI, robotics, and defense tech. Jake measures performance with numbers, but defines success more simply: having fun while competing at the highest level.
Anti Fund® is an investment firm that invests in technology companies. Past investments include OpenAI, Anduril, Ramp, Cognition, Polymarket, Physical Intelligence, Flock Safety (via Aerodome), Chronosphere among many others.
Anti Fund was founded upon two foundational axioms:
the future is forged at the intersection of tech 🤝 culture.

the best founders are “anti” by definition, as their companies must be highly disruptive to the status quo

Jake Paul: ⁠https://x.com/jakepaul⁠ 
Geoffrey Woo: ⁠https://x.com/geoffreywoo⁠ 
Molly O’Shea: ⁠https://x.com/MollySOShea⁠ 
Sourcery: ⁠⁠https://x.com/sourceryy⁠ 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒
Youtube: ⁠https://youtu.be/SMzYK_kqm8M⁠

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• ⁠Brex⁠—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. ⁠https://brex.com/sourcery⁠
• ⁠Turing⁠—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. ⁠https://turing.com/sourcery⁠
• ⁠Deel⁠—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: ⁠https://www.deel.com/sourcery⁠
• ⁠Public⁠–Investing platform Public just launched ⁠Generated Assets⁠, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://⁠public.com/sourcery⁠
Follow Sourcery for the latest updates!
⁠https://www.sourcery.vc/⁠

Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at ⁠public.com/disclosures/ga⁠. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Unconventional AI recently emerged from stealth with $475M in seed funding at a $4.5B valuation, led by Andreessen Horowitz and Lightspeed, with participation from Sequoia, Lux Capital, DCVC, Future Ventures, Jeff Bezos, Playground Global, and others. Naveen is also personally investing $10M into the company.
Recorded at Playground Global in Palo Alto and hosted by Peter Barrett, General Partner, this Sourcery conversation features:
- Naveen Rao — CEO & Co-Founder, Unconventional AI (founder of Nervana, acquired by Intel for $400M+, and MosaicML, acquired by Databricks for $1.3B; former Chief AI Officer at Databricks)
- Konstantine Buhler — Partner at Sequoia Capital
- Molly O’Shea — Founder of Sourcery (Moderator)
Unconventional AI is building a new computational substrate designed for biology-scale efficiency — running neural networks directly on the nonlinear physics of silicon instead of simulating them through traditional digital abstractions.As AI demand accelerates, computation is approaching a collision with global energy supply. Unconventional’s thesis: achieving step-function efficiency gains requires rethinking compute itself.
Instead of forcing stochastic neural networks onto deterministic digital machines, the company is engineering silicon circuits with similar nonlinear dynamics — effectively creating a “silicon wind tunnel” for intelligence.In this conversation, we cover:- Why energy — not capital — is becoming AI’s true bottleneck- The return of analog-inspired computing- What it takes to build a new computing paradigm- How investors underwrite formation-stage deep tech- Where the AI supercycle goes next
Molly on X: https://x.com/MollySOShea
Naveen on X: https://x.com/NaveenGRao
Brought to you by:Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, and travel.
As a Sourcery subscriber you get: 75,000 points after spending $3,000 on Brex card(s). Plus, white-glove onboarding, $5,000 in AWS credits, $2,500 in OpenAI credits, and access to $180k+ in SaaS discounts. On top of $500 toward Brex travel, $300 in cashback, plus exclusive perks (like billboards..) visit → brex.com/sourcery
Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance, and enable enterprises to turn those models into powerful, production-ready systems. Visit: turing.com/sourcery
Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: deel.com/sourcery
Public-–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. Seriously, you can type in anything, from “AI-powered supply-chain companies with positive free cash flow” to “defense tech companies growing revenue over 25% year-over-year.” With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. Try it today: public.com/sourcery
Follow Sourcery for the latest updates!
https://www.sourcery.vc/
#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley

Deedy Das, Partner at Menlo Ventures and former founding team member at Glean, joins Sourcery to unpack a major shift reshaping venture capital: the move from rigid investment theses toward founder-led conviction.
With 48+ years of experience, 80+ public companies, 165+ mergers and acquisitions, and $6.8B+ under management, Menlo Ventures is partnering with Anthropic through the $100M Anthology Fund to back the next generation of AI startups.
Deedy explains how the firm identifies infrastructure companies early — often before the broader market recognizes their importance — and why iconic outcomes rarely emerge from predefined theses. He breaks down what distinguishes durable AI businesses from short-lived momentum plays, and how top investors evaluate founders capable of building enduring companies.
We also explore the rapid evolution of the AI stack — from internet-scale training to reinforcement learning, agentic systems, and the pursuit of the economic Turing test.

Topics Covered:
The strategy behind Menlo + Anthropic’s Anthology Fund

Why “anti-thesis” investing wins

Founder traits that predict generational companies

AI infrastructure gaps still waiting to be built

Product taste as a competitive moat

The danger of overfunding startups

Why Deedy became one of tech’s most followed voices on X

Deedy Das: https://x.com/deedydas  
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒
YouTube : https://youtu.be/Gjw0oBznXuQ

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

Follow Sourcery for the latest updates!
https://www.sourcery.vc/

Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Sequoia Capital Partner Shaun Maguire returns to Sourcery for a conversation with Molly O’Shea on math superintelligence, physics, and the limits of human understanding.
Specifically, Shaun explains his and Andrew Reed’s investment in Harmonic, the new AI company founded by Robinhood CEO Vlad Tenev, and why math + reinforcement learning may unlock the next major breakthrough in artificial intelligence. Breaking down Harmonic’s differentiated strategy using Lean, formalized proofs, and reinforcement learning to train AI systems that reason rigorously about math, outperforming far larger labs with a fraction of the spend.
We also get into Shaun’s physics worldview from loopholes in the laws of nature, to time travel, vacuum energy, UAPs, Bayesian probability, information warfare and why he believes we understand far less about reality than we think.
The conversation expands into UAPs (UFOs), Palmer Luckey, probability, scientific humility, and how frontier intelligence, human or artificial, might reshape what’s possible in math, physics, and reality itself.
In an exclusive cut for X, Shaun discusses free speech, narrative power, and why platforms like X matter in an era of global information conflict (Sequoia invested $800M in the take-private) – making the case that much of today’s political and media chaos is the downstream effect of Cold War–era KGB psychological warfare tactics that never actually stopped — they just changed hands.

Shaun Maguire: https://x.com/shaunmmaguire 
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒

https://youtu.be/7-kTsCkKfUw

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

Follow Sourcery for the latest updates!
https://www.sourcery.vc/

Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Brex CEO Pedro Franceschi joins Molly O’Shea for an exclusive breakdown of the $5.15B Brex x Capital One M&A deal—from the first serious conversations to finalising the deal in ~40 days, making this one of the largest bank–fintech deals in history. Pedro shares why Capital One paid up, why he believes the “exit” mental model is wrong, and how Brex stays founder-led with a “butterfly” operating model inside a $150B platform powered by $6B in marketing and $6B in R&D.
We break down the full deal timeline (term sheet on Dec 22, announcement tied to Capital One’s Jan 22 earnings), the 50/50 cash–equity structure, and why Capital One committed ~$950M in integration + retention to accelerate Brex’s trajectory. Pedro also walks through Brex’s valuation reset—from a $12B peak to a ~$4B employee repricing, and now a ~13.4x gross profit acquisition multiple at the top end of fintech public comps.
Pedro also explains how Brex is staying in war mode—shifting its real competition from fintech peers to JPMorgan, Amex, and the largest U.S. banks. With Capital One’s scale behind it, Brex is aggressively pushing to win enterprise market share, out-execute legacy incumbents, and become the dominant financial platform for modern companies.
Brex today serves 1 in 3 U.S. startups, supports 300+ public companies, and powers spend for top AI labs—including TikTok, Toast, Robinhood, Anthropic, Zoom, DoorDash, and Canva. After closing, Brex is expected to become the #3 corporate card platform in the U.S., accelerating enterprise expansion, AI agents, and next-generation financial automation.
This may be the only full public, founder-level breakdown of a major M&A deal ever shared right after signing. Hope you enjoy!

Pedro Franceschi: https://x.com/pedroh96  
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒

https://youtu.be/3a3omxYXqK4

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery
• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery
• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery
• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery
Follow Sourcery for the latest updates!

https://www.sourcery.vc/
Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.