{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Naval's GP, Ankur Nagpal, Breaks Down The Viral \u201cUSVC\u201d Fund | E2284","description":"This Week In Startups is made possible by:  Render - render.com\/twist Vanta - vanta.com\/twist Northwest Registered Agent - northwestregisteredagent.com\/twist  Have you wanted to invest in venture capital alongside your 401k contributions, but struggled to find a way to place a bet? Search no more, for the AngelList team has created USVC, a new fund that will accept investments of as little as $500 from folks who lack accreditation. USVC\u2019s Ankur Napgal swung by the show to chat about investment strategies, access, fees, and just how illiquid the venture-like vehicle will prove to be. Jason and Alex were then joined by Jon Durbin, core contributor at Chutes, and Yash Goenka, co-founder and CEO of Humwork. Chutes is the most valuable Bittensor subnet, focused on aggregating GPUs to offer trustless AI compute. Humwork wants to help bring a human into your agentic workflow to unstick your agent when it runs into a hitch. The show closes with a news lightning round \u2014 enjoy!  Timestamps: 0:00 Intro + Plaud AI sponsor read (Jason demos the NotePin S) 2:06 Plaud: If your work depends on conversations \u2014 interviews, meetings, calls \u2014 you need a Plaud NotePin. You can check it out at https:\/\/Plaud.ai\/twist and use code TWIST for 10% off! 3:50 Episode overview: USVC, Chutes, Humwork 7:41 USVC structure: $500 min, no accreditation, quarterly redemptions 10:28 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity \u2014 Learn more at https:\/\/northwestregisteredagent.com\/twist 11:39 Fee structure breakdown: 1% mgmt fee, ~2.5% net expense ratio 15:41 USVC portfolio: xAI, Anthropic, OpenAI, Crusoe, Vercel 16:17 Strategy: 1\/3 emerging managers, 1\/3 growth, 1\/3 secondaries 19:00 $1B cap and path to expanding the fund 20:33 Vanta - Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 reports fast. Get $1,000 off for a limited time at https:\/\/www.vanta.com\/twist 28:00 What is sovereign compute? Permissionless GPU networks explained 30:10 Render - Find out why 5 million developers are already using the all-in-one cloud platform, Render. Go to https:\/\/render.com\/twist and apply for the Render Startup Program to get $500-$100,000 in free credits, depending on your stage and backers. 44:53 Usage history: 160B tokens\/day peak, free-to-paid transition 46:41 GPU pricing: from $0.77\/hr to $3.50\/hr as shortage bites 49:13 DeepSeek censorship demo: Taiwan test on DeepSeek chat 57:27 Permissionless supply curves: Uber\/Airbnb analogy for induced demand 59:20 Yash Goenka, co-founder of Humwork (YC S26) 1:00:49 Lightning Round: Ryan Cohen wants to buy eBay \u2014 Jason's hot take 1:12:36 Lightning Round: Cerebras IPO update ($27\u201336B valuation range) 1:14:05 Lightning Round: Spirit Airlines \/ JetBlue \/ M&amp;amp;A regulation debate 1:19:10 OFF-DUTY: Star Wars: Maul - Shadow Lord 1:32:57 Alex's OFF-DUTY: Captain of Industry Subscribe to the TWiST500 newsletter: https:\/\/ticker.thisweekinstartups.com Check out the TWIST500: https:\/\/www.twist500.com Subscribe to This Week in Startups on Apple: https:\/\/rb.gy\/v19fcp Follow Lon: X: https:\/\/x.com\/lons Follow Alex: X: https:\/\/x.com\/alex LinkedIn: \u2060https:\/\/www.linkedin.com\/in\/alexwilhelm Follow Jason: X: https:\/\/twitter.com\/Jason LinkedIn: https:\/\/www.linkedin.com\/in\/jasoncalacanis Check out all our partner offers: https:\/\/partners.launch.co\/ Great TWIST interviews: Will Guidara, Eoghan McCabe,  Steve Huffman,  Brian Chesky, Bob Moesta,  Aaron Levie,  Sophia Amoruso,  Reid Hoffman,  Frank Slootman,  Billy McFarland Check out Jason\u2019s suite of newsletters: https:\/\/substack.com\/@calacanis Follow TWiST: Twitter: https:\/\/twitter.com\/TWiStartups YouTube: https:\/\/www.youtube.com\/thisweekin Instagram: https:\/\/www.instagram.com\/thisweekinstartups TikTok: https:\/\/www.tiktok.com\/@thisweekinstartups Substack: https:\/\/twistartups.substack.com  ","author_name":"This Week in Startups","author_url":"https:\/\/thisweekinstartups.com","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/41997975\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/203884395"}