mmurph
3.7K posts
@mmurph
@MenloVentures - invest in AI Infra & AI native sw @anthropicai @lovable @harnessio @cartainc @benchling @typefaceai @semgrep @Envoy @Vivun_inc @wearelegora
67% now x.com/jolandgraf/sta…
OpenRouter has a new look. As we’ve grown into the infrastructure powering the intelligence era, our brand needed to evolve too. Built on clarity, precision, and purpose. For developers. For enterprises. For everyone turning intelligence into impact.
If you are in tech, this is the one show you have to listen to every week. Value per minute, this will give you a better ROI than anything else you can listen to. AGENDA: - Sam Altman Offers Trump 5% of OpenAI - Alex Karp Sounds the Alarm: Enterprises Fear Frontier Models - Deepseek Building Own Chips: The Rise of Chinese Open Source? - Meta Compute Launches Cloud Business My notes below on this weeks show with @jasonlk & @rodriscoll: 1. Are All the Hyperscalers Adopting Consulting Strategies Because Their Product Isn’t Good Enough? Tech giants fall back on deep enterprise relationships when pure product adoption stalls. Rory calls this the classic IBM Global Services playbook: monetizing trusted distribution to deploy other people’s technology. With Microsoft embedding 6,000 engineers for AI pilots, the industry is shifting from pure software toward intensive change management. 2. If You Think 5% Is Going to Make Up for the Job Losses From AI, You’re Having a Laugh Tech platforms trying to rewrite the U.S. tax system are detached from political reality. Rory notes that if AI replaces 50% of white-collar jobs, a 5% corporate equity stake amounts to only about $140 per person. Believing a minor slice of equity will pacify mass economic disruption is delusional. 3. Why Would Any Great Employee Join a Company That Does Not Offer Tenders? The talent war has moved beyond illiquid paper wealth. Jason emphasizes that top-tier operators now demand a clear path to secondary liquidity within 24 months. As companies like OpenAI offer regular tender options, elite builders refuse to get locked into stagnant equity stacks. 4. Why AI Frontrunners Are Actively Welcoming Washington Oversight AI frontrunners are flipping the old tech playbook of “leave us alone” by actively volunteering for regulatory alignment. Jason views OpenAI’s 5% equity offer as a masterful communication play. It sets government ownership expectations low before political pressure forces a harsher outcome. 5. The Extinction of Downstream Valuation Fear for Modern Founders Founders no longer fear aggressive valuations the way they once did. In past cycles, builders avoided high prices because late-stage investors held predatory downside protections. Today, growth investors often accept 1x returns on failed bets without drama, reducing structural fear and increasing founder velocity. 6. Meta Compute Launches a Cloud Business to Sell Access to Its AI Infrastructure Overbuying compute to build proprietary models and then renting it out as hosted infrastructure is the ultimate hedge. Meta’s 10% stock surge mirrors SpaceX’s infrastructure monetization playbook. Hyperscalers are learning that becoming a neo-cloud utility can be the perfect Plan B while raw demand remains tight. (links below)
Today we're announcing a $120 million Series C led by Menlo Ventures , bringing Assort Health's total funding to $222 million and our valuation to $1.2 billion. The number is a milestone. But it was never the point. Growing up, I was a patient transport volunteer. I helped people physically get to appointments and navigate a healthcare system that often didn't make sense to them. For some, simply having someone there to help made all the difference. Helping one patient get the care they needed was rewarding. But it was one person at a time. That experience has stayed with me. It's why Assort exists: to make exceptional healthcare accessible anytime, anywhere, for anyone, and to reach as many patients as possible. This funding is fuel for that mission. Every call, text, referral, form, appointment, and outreach creates context. Without Assort, context gets lost. Patients repeat themselves. Staff become the glue between systems that don't talk. Follow-ups slip. People fall through the cracks. Care gets delayed. Not because healthcare lacks information. Because it lacks continuity. What started as an AI agent answering phone calls has grown into a platform that schedules appointments, manages referrals, completes intake, proactively reaches patients, and helps healthcare organizations run the operational work for every visit. The part that matters most is that every interaction builds on the last. We call this Patient Journey Memory: turning disconnected touchpoints into one continuous conversation, so patients don't have to start over every step. Our brand film says it simply: Healthcare That Remembers. With this funding, we'll reach far more patients, serve many more healthcare organizations, keep building the product, and bring exceptional people onto the team. One full-circle detail: in the cofounder-dating questionnaire Jon Wang and I filled out before starting Assort, I wrote that building a company worth $100 million would be an incredible outcome. We've now passed that by more than 10x. It's a surreal milestone, and a reminder that the problem and opportunity are far bigger than we thought. None of this is ours alone. To the customers and partners who trusted us early, challenged our thinking, and shaped Assort: thank you. You took a chance on a young company, held us to a very high standard, and made us better than we could have become on our own. To @jpsanday and @mmurph from Menlo Ventures and all new and returning investors: thank you for believing in our team and our mission. And to the Assort team: building AI systems in healthcare is hard. Building them in a way that patients trust and healthcare organizations rely on every day is even harder. Thank you for how much you care, how hard you push, and the standard you continue to set. We're still early. There are more patients to reach and a lot to build. That's why we're excited. Come help make healthcare remember every patient. We're hiring. DM me!
Scoop: Menlo Ventures has raised $3 billion across several funds, to back AI startups across all stages - and to make more Anthropic-sized bets. bloomberg.com/news/articles/…
Menlo is 50 years in — and all in on AI. Today, we’re announcing $3B in new capital to back the next generation of AI founders. The companies that will define the next era are being built right now. We’re ready to meet the moment. Read more: mnlo.vc/3b-for-ai
Today, we are proud to announce that JACKAL-0004 and Mosaic have achieved all Mission X-3 test objectives. Jackal has been fully commissioned and is prepared for its next phase of mission. We could not be more excited for this moment. True Anomaly is ready for what comes next. Check out our blog for more details: trueanomaly.space/newsroom/missi…
For most of software history, even if you understood a problem better than anyone, you still needed someone else to help you build the solution. That meant a lot of good ideas never became products. Today we’re sharing our first look at the global build economy: more than 50M projects built on Lovable and 720M monthly visits to Lovable-built projects. Ideas are becoming products, and products are turning into companies. The people building them are also different from what many would expect. They may not have a CS degree, venture capital, or a technical co-founder, but they have customer knowledge, industry context, and a clear sense of what needs to exist. It is still early, but the direction is clear: as this category matures, the impact will be greater than just more software. There will be more solutions, more companies, and more economic activity.
Standard experience booking an Uber “5 minutes away” I order it “Finding your driver…” “Pickup in 7 minutes” I open my timer 9 minutes and 21 seconds later, it arrives This is so tedious and I am tired of being deceived at the margin
Thrilled to double down on @suno's $400M round, after leading its Series C last fall! Suno is making creation itself a form of entertainment. Millions of songs generated every day. This is the broader Menlo thesis: AI won't just change how content is produced, it'll change how people spend their time. We see it with Suno in music, @higgsfield_ai in video, @Lovable in solopreneurship, and @AnthropicAI across it all. Congrats to @MikeyShulman, @GeorgKucsko, @fut_ure, and the whole Suno team. More from @amywumartin: mnlo.vc/doubling-down-…
RoofFlow (roofflowpro.com): A CRM platform specialized for roof repairs, used by over 1,200 contractors.
We are thrilled to celebrate @Anthropic's $65B Series H at a $965B post-money valuation. Anthropic is Menlo's single largest and highest-conviction investment in our 50-year history — and it's not even close. This round marks our largest single investment in any round since our partnership began. Our relationship with @AnthropicAI, goes way back: → Invested in their Series C, 2023 — PRE-launch, PRE-revenue → Led their Series D, 2024 → Significant backers in every round since → And in July 2024, co-launched the $100M Anthology Fund with them to seed the next generation of AI-native companies Three years into this partnership, we continue to be blown away by everything they've built. $47B+ run-rate revenue. 40%+ enterprise LLM market share. Claude Opus 4.8 launching today. Web traffic from 16M → 290M monthly visits in 13 months. Enterprise AI and consumer AI. Both. Congratulations to @DarioAmodei, @DanielaAmodei. and the entire Anthropic team. You are building one of the most important companies of our generation.
Appreciate @Forbes for including me on the Midas List w/so many uber talented co-investors + friends. Venture is a long game and you can’t time certain things. just show up as your best self everyday and focus on deep relationships w/entrepreneurs. That and a great set of partners is how we get energy and hopefully success in this business/craft over decades. Lucky and humbled to work with the special team @MenloVentures , our amazing portfolio of entrepreneurs, and a great network and ecosystem that makes venture the unique industry it is. Much more to come! 🙏
