
Arjun Dev Arora
10.6K posts

Arjun Dev Arora
@ArjunDArora
Now: Format One; Prior: Expa, 500Startups, ReTargeter; Passionate: startups, venture capital, learning, people, music, philosophy & life.















If we actually get a wave of mega IPOs (SpaceX, OpenAI, Anthropic, Stripe), the second-order effect probably won’t just be new startups. We’ll likely see a new generation of emerging managers too. Most people will recycle capital into new companies, but some operators will spin out <$50M early-stage funds with unfair access to the ecosystems they just came from (or join top VC firms first to launch their own funds later). 1/ SpaceX → defense / space 2/ OpenAI / Anthropic / xAI → AI infra & apps 3/ Stripe → fintech Feels similar to how PayPal mafia effectively turned into a “seed fund” that bankrolled LinkedIn, Facebook, Yelp, YouTube, etc., and how Airbnb alumni later spun up companies and an alumni fund like AirAngels.











