Ben Horowitz on Raising a New Fund and How Venture Firms Scale

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In this feed drop from Uncapped, Jack Altman sits down with a16z co-founder Ben Horowitz to unpack the founding bet behind Andreessen Horowitz. VC should be a better product for entrepreneurs, built on real operating experience, real networks, and real support. Ben shares how he and Marc Andreessen have worked together for 30 years, how they make decisions, and what it takes to scale a venture firm without losing the edge that actually helps founders. They also dig into why boards matter, how platform teams can change what partners do day-to-day, and the difference between “heat-seeking” investing and conviction-driven company building, especially in sectors like AI and crypto. Timecodes: 00:00 Introduction  01:05 Ben Horowitz & Marc Andreessen’s Partnership   04:05 Building & Leading a16z   07:16 Managing High-Powered VCs   11:01 Boards, Governance & Founder Support   15:36 Platform Services & Recruiting   17:43 Scale vs. Concentration in Venture   20:57 Why Venture Can Scale   24:27 Platform Services: What Works and What Doesn’t   27:50 The Real Value of Board Membership   35:38 Media, Brand & Marketing Evolution   41:32 The Future of Media & Journalism   45:30 Limits on Venture Firm Size   49:13 Winning vs. Picking Deals   53:16 The Case Against Venture Scale   55:49 Hiring Operators & Rethinking the VC Product Resources: Follow Ben on X: https://twitter.com/bhorowitz Follow Jack on X: https://twitter.com/jaltma Watch more from Uncapped: https://www.altcap.com/   Stay Updated: If you enjoyed this episode, be sure to like, subscribe, and share with your friends! Find a16z on X: https://twitter.com/a16z Find a16z on LinkedIn: https://www.linkedin.com/company/a16z Listen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYX Listen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711 Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Stay Updated: Find a16z on YouTube: YouTube Find a16z on X Find a16z on LinkedIn Listen to the a16z Show on Spotify Listen to the a16z Show on Apple Podcasts Follow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Guests

Ben Horowitz

Co-founder and General Partner

Andreessen Horowitz