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The Inside Story of Growth Investing at a16z

December 31, 2025

AI Summary

5 min read

🎙️ The Voices & The Context

  • The Format: This episode is an engaging interview that showcases a deep dive into the world of venture capital, particularly focusing on growth investing strategies and insights from a seasoned expert. The tone is reflective and insightful, creating a space for meaningful discussion about investment philosophy and market dynamics.
  • The Key Players:
    • Harry Stebbings: Host of the podcast, known for his ability to draw out insightful stories and advice from his guests.
    • David George: General Partner at Andreessen Horowitz (A16Z), recognized for his extensive experience in growth investing and his involvement with successful companies like Coinbase, Figma, and DoorDash.

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What you'll learn

  • 1 `(00:00)` **🎙️ Introduction: David George**
  • 2 `(00:43)` **Overview of David's Insights**
  • 3 `(01:08)` **Unit Economics in Investing**
  • 4 `(02:21)` **David's Journey into Venture Capital**
  • 5 `(03:53)` **Key Takeaways from General Atlantic**
  • 6 `(06:22)` **Business Models and Growth Investments**
  • 7 `(08:21)` **When Unit Economics Become Central**

+ Full timestamped outline available in the app

Show Notes

This episode is a special replay of David George’s conversation with Harry Stebbings on 20VC. David is a General Partner on a16z’s growth team, and in this discussion he breaks down how he thinks about breakout growth investing: why great business models are now table stakes, where real edge comes from non-consensus views on TAM, and how to underwrite upside in a world of higher prices and increasing competition.

They also dig into the mechanics behind the scenes: unit economics at growth, “pull vs push” products, winner-take-most market structures, and how David decides when to double or triple down on a company. Along the way, they touch on SPACs, the rise of crossover funds, single-trigger decision making, and how David manages fear, pressure, and performance over the long arc of an investing career.

 

Resources:

Learn more about 20VC: https://www.thetwentyminutevc.com/

Watch on YouTube: https://www.youtube.com/@20VC

Follow Harry on X: https://x.com/HarryStebbings

Follow David on X: https://x.com/DavidGeorge83

 

Stay Updated:

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Find a16z on X: https://x.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

Follow our host: https://x.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](http://a16z.com/disclosures.

 

Stay Updated:

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 informatio

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