Even all-in Anthropic is only ~20x, far below true seed-investing math, VC argues
dunkhippo33 · x · 2026-10-07
VC dunkhippo33 debates seed logic with Harry Stebbings and Venky Ganesan: true seed bets need 1000x+ outcomes. Even all-in on Anthropic is only 20x from entry — not seed math, though he expects continued growth. He adds that the real signal is founders and funds who concentrate in the clear winners later.
Related event: Seed rounds carry no signal; top funds' picks are just luck, investors say(3 posts)→
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