Three years in the past, Menlo Ventures companion Matt Murphy helped lead one of many earliest investments in Anthropic. Menlo can be one of many largest winners when the corporate goes public, with a stake estimated at round $14 billion. Earlier than the IPO, Murphy sits down with Chief Correspondent Ben Bergman to debate how the cash pouring into these main AI corporations is impacting the broader funding surroundings, and the place he is in search of the subsequent large alternative.