"You have to assume that there are two more Anthropic and OpenAIs." 20VC General Partner @PaulBonnet on the bets VCs are placing on Neo-labs: "Many new labs [are] raising at 5 billion seed or pre-seed. When you invest at 5 billion seed or pre-seed, what you're really saying is that company will be worth at least 100 billion." "There haven't been many hundred-billion-dollar-plus exits in the history of technology. When that place bet is placed 10, 20 times over, you have to start asking,…