20VC: Postmates Founder Basti Lehmann on How the Uber Deal Went Down and How a $2.65BN Deal Turned into $5BN, Why Great VCs Add No Value and VC Value Add is BS Marketing & Why The Biggest Companies in History Will be Born Today and Replace Incumbents

Basti Lehmann is the co-founder and former CEO of Postmates, the on-demand delivery service that raised over $900M from the likes of Tiger Global, Founders Fund, Spark Capital and Andreesen Horowitz. Following Uber's $2.65BN acquisition in 2020, Basti founded TipTop, a platform for fast tech sales which Marc Andreesen led the $20M seed round for.

In Today's Episode with Basti Lehmann We Discuss: 1.

From US Immigrant to Billion Dollar Founder 2. •

How did Basti start his career hacking AT&T? • •

How did early hardships shape Basti's work ethic? • •

What were Basti's biggest challenges building Postmates? • 1.

Lessons from Raising $900M 2. •

How did Basti raise $20M from Marc Andreesen? • •

How does Basti select which VCs to work with? • •

Why does Basti think 99% of VCs are sheep? • •

Why does Basti think great VCs add no value? • •

Why does Basti think having to educate investors is a massive red flag? • 1.

Selling Postmates for $2.65BN 2. •

Why did Basti sell Postmates to Uber? How did the acquisition happen? • •

Was there anything Basti would have done differently? • •

What does Basti think makes Dara Khosrowshahi a great CEO? • •

What is Basti's biggest advice to founders on acquisitions? • 1.

Future of AI: Startups or Incumbents? 2. •

What does Basti think is the biggest challenge of LLMs today? • •

Why does Basti think inference computing will be the future of AI? • •

Why does Basti think incumbents can be replaced? • •

Why does Basti think the biggest companies are being born today? •