You're watching TVPN. Today's Tuesday, June 16, 2026. We are live from the TVP and Ultra template technology fortress Finance Capital Capital. Let me tell you about ramp time is money save. Both easy use, corporate cards, bill pay, accounting and a whole lot more all in one place. Sorry about the delay, we had a little bit of a technical issue. Glad everyone's here. Thank you. Thank you for tuning in. It's YC Demo day. Thank you for never doubting. Never doubt us, ever. No, it's okay. Every once in a while you can doubt us a little bit. Pop off in the comments, pop off in the chat. But we have YC demo day. We have 1, 2, 3, 4, 5, 6, 7 YC founders joining, then three YC partners. And then we're going around the horn talking to some other folks. Threads just hit 500 million monthly active users. We're having Connor Hayes back on the show for that. Luke Burgess is here. Burgess is here with his new book, the 1 and the 99. And so we'll go through that. Not a lot of time for the news, but we'll take you through it anyway. And in the middle of guess we'll jump in for a little news. Exactly. We love, exactly, love the news. The big news. Big news is that SpaceX ran like absolute crazy after hours last night. I kept getting push notifications and thinking that can't be right. And then I would double click in check a little bit and I would say, yeah, the headlines are crazy. Yeah. So the big one is there's so many of. It's like it's passing this company, passing this company, passing that company. And you're like, whoa, this is a crazy, crazy time. So SpaceX, bigger than anything, comfortably in the top five company, you got Nvidia at 5 trillion Alphabet and Apple right around 4, 4 and a half. Then Microsoft and SpaceX neck and neck, just shy of $3 trillion. And it basically makes their cursor acquisition free. They paid 60 billion in new stock for the company and their market cap. SpaceX's market cap more than quadrupled and added more than 4xed the price of cursor acquisition. I believe they had until Q4 to actually pull trigger on the cursor deal. Like they built in a window did it. Now, I bet you there was some terms that weren't public that Cursor would have wanted to make sure that they got in as quickly as possible. Sure, sure. If the stock's running really well, who knows where SpaceX will net out. I thought we'd be at 2.4 trillion by the middle by basically the last hour of trading on Friday. I was incorrect at the time but it's obviously continued to run. And there was another scenario where SpaceX could have effectively acquired Cursor at an even higher valuation. But I think it's a great, fantastic outcome for the cursor team. Obviously OpenAI is a big cursor investor. Thrive A16Z, CO2 and others that, that I'm unfortunately forgetting what was saying about this. He said it's the biggest VC backed. In the past five days we've seen the biggest VC backed IPO ever and the biggest VC backed strategic sale ever. We've never had an M and a of a VC backed company. Young startup, north of 50 billion. Like 60 billion is so, so big we sort of lose sight of it because we're talking about a trillion dollars for this company, 3 trillion dol for that company. But 60 billion is beyond a home run and it happened in an M and A, which is crazy. And there's I would assume a large number of the retail investors investing in SpaceX. We're not necessarily even that familiar with Cursor up until today. I did see that you're waking up. If you're waking up today, you're like wait, Space X just acquired one of the hottest AI companies in the world with billions of dollars in revenue. This is so bullish. Obviously a lot of the more institutional investors or people that had been following the company privately were well aware that they had the option to do this, that they would almost certainly take it. The takes are all over the timeline. Quinn Thompson says this is brilliant corporate finance. Use your newly printed low float retail inflated currency to acquire real businesses ahead of the lockup expiring probably the most creative, accretive way to sell as much equity as possible into IPO pump. I wonder what acquisition is next. That's very interesting. Nick Carter fires back and says, you'd think the people buying the equity would also be aware of this. And that's a good point. But the question is like are there more acquisitions in the pipeline? Because Tesla has not done a lot of acquisitions. Elon's always been a build, not buy operator or founder. Tesla itself. Yeah, that's a very different scenario. What I'm talking about is like there are companies. Meta is very acquisitive. Google, Apple. Apple's like on the smaller side but they still do deals more frequently. It would be very interesting if we're seeing one deal a month and he's sort of putting together the pieces of buying up NEO Labs and compute capacity and NEO Clouds and rolling everything up. That would just be a completely different operating philosophy. But given where the stock is, given how smooth this deal went and where the market cap of SpaceX is, it's not the craziest thing. It would be a big pivot in his, in his strategy, though. Business Insider has a deep dive on Cursor's wild Ride. Michael True didn't pay himself for years. Interestingly, Cursor once made up 40 to 50% of Anthropic's revenue. That is a crazy, you know, gyration in the market. Just shows you how quickly things are changing. Went from, you know, it's all cursor. That business is just funneling to Cursor. Cursor's the front door to this business. Then it's like, oh, it's all these hyperscalers that are spending a billion dollars, half a billion dollars a month. And so the whole landscape is changing. Nothing tells that more than Anthropic telling Cursor that Claude code was just a research effort. This goes back to the Dylan field. Like, were they consistently candid? Or maybe they really just did think, hey, yeah, this is just a research effort. Like you do you. And then realized later like, whoa, whoa, we need to be a player in this. We cannot be in the middle of this situation. So we got to do our own thing. Owning the end customer relationship. Yeah. And so wild, Wild ride. Yeah, similar, similar to, I think, the messaging to figma. Yeah. Canva around Anthropic's design tool. Yeah, it's tricky. Every AI company is. It's a general use technology. They're using it for everything. There's, there's, you know, questions about, like, will you maintain value if you're in the token path? Do you need to be like, do not build a company that depends on the models getting better. But if the models get really, really good, like, what can't they do? And so constantly we see every company competing with every other company. As you know, every hyperscaler has an LLM at this point, and every SaaS product has other products because they can launch features faster. And so the competition is heating up across all these different companies. Next time we have Michael on the show. Yeah, we got to ask how he paid the bills for all those years. Crashing on couches or something. Got to ask. I don't know, taking out massive loans against the company, maybe. Let me tell you about MongoDB. What's the only thing faster than the AI market. Your business on MongoDB, don't just build AI, own the data platform that powers it. Snap also has some big news today. We're going to get to it. We'll get to that after our first interview with Andrew Lee from Tasklet. He's the founder and CEO. Andrew, welcome to the show. Thank you for the patience and joining us on such a busy day. How is demo day going? How are you? I'm doing great. Thanks for having me. I want to be up front. I can neither confirm nor deny the SpaceX acquisition rumors. Oh, okay. They're flying around. They're flying around. They're flying around. Demo day. Elon's probably there. Demo day, shaking hands, trying to scoop up, roll up the ENT batch, maybe. Who knows? He's got stock to do it. No comment. Demo day is great. We're having a good time. There's a thousand people here. There's 200 companies. It's a good time. Amazing. Did you pitch already or is that ahead of you still? Not yet. We're in group four, which is going to be this afternoon, and it's actually my co founder who's going to be up on stage giving the talk. Cool. I'll just be the pretty face over on the side. Okay, well, give us some backstory on yourself and tell us about the business. Yeah. So as background, I was. The thing I'm probably best known for is I was one of the founders of Firebase. So this is my second time through YC. I did the summer 2011 batch. We sold that company to Google in 2014. I was there for about three years. This company has been a very interesting story. We actually started in 2020 as a better Gmail. We tried to build a new email experience, raised a bunch of money, hired a team. So you quit Google to try to eat Gmail alive? Yeah. I had already left Google a couple years before, but I saw them shut down inbox and I was like, man, what are these? This is a huge, huge product. Like, what are these guys doing? We should do a better job. This is a terrible idea. Don't do it. Don't invest in it. But just as we were getting ready to shut that thing down, LLMs got good. And we're like, holy crap. We can take all of this data that you have and we can feed into a language model and we can like draft emails for you and we can do interesting types of search and we can do categorization. So we started kind of pulling that string and around about this Time. Last year, we had this really good agent inside our email client, and we had a bunch of users being like, hey, I love your product, but could you just get rid of all this inbox crap? Right. Like, the UI is getting in the way. And so we spun it out and we had a. It's a totally new product, totally new code base. And this is Tasklet, and we launched that in October. And that's gone super, super well. And that's, you know, that's why we're nyc. And that's gone, you know, at the beginning of the year, we are at about a third of a million run rate. We're at a $7 million run rate now. So it's like a nice, fast ramp. And is that the bar now? Like, is there? You know, are you meeting other companies in the batch that have been able to ramp that quickly? I think we have the highest revenue of the batch. There we go. There we go. Well, why don't we go hit the gong and then we can. Boom. That's for you. Love that. This feels like. So we were looking at our little summary here. AI agents that connect across work tools run 247 and take ownership of recurring workflows. Does big tech hate you? Like, because I feel like the whole point is walled gardens. That's what creates value accrual. That's what keeps the value accruing to the work tools that, you know, big company CEOs love and extract a lot of value from. And you're coming in here and digging a hole under the wall of the garden and throwing a ladder over the top and digging a hole right through the walled garden. Absolutely. How do you maintain those integrations if the actual platform is maybe hostile? We've seen reporting about this where different companies have tried to sort of integrate across, and then they've wound up with sharp elbows. I think a lot of them have figured it out. But how do you think about working copacetically with the work tools that you integrate with? Totally. So AI has totally changed the game. Two years ago, if you wanted to integrate with a bunch of stuff, you had to hand code a bunch of integrations. There were companies like N8N and Zapier that just did that, and that was their moat. And our secret sauce is that we can dynamically generate the integrations with AI when you need them. So we have a bunch of canned integrations. Some of them we've hand coded and made them really, really nice. But even if you ask for an integration, we don't have the AI can Generate one for you. And this is super powerful. Not just because it lets you go outside the wall garden, but because it lets you connect to things that might not be public at all. So if you're a company, a lot of times you have internal APIs and you're like, hey, I want to have some integration that hooks up to Notion and HubSpot and Gmail, but then also my random bespoke internal API. And you can't do that with any of the products from Big Tech. You can't do that with Claude or OpenAI, but our product, yeah, sure, you can integrate via API with this thing, with MCP, with this thing with a pre canned connector, with this other thing and they can all work together. What's the state of search these days? I feel like we've seen incredible progress in AI and agents. And then when I have the same frustration that you had when you were thinking about working on email, I'll type in some keyword, you know, like yc and I will get some cookie, some string that's stuffed in a receipt from some coffee shop. And it has nothing to do with Y Combinator. The context isn't there. Apple Intelligence is rolling out. It takes like five days just to index everything into some sort of rag database. Like, why are we falling behind there? Is that key to your strategy or is it something that it's a problem for someone else to work on? So I think agents again, have totally changed the game here. So in Short Wave, our email client, the way we did search was the vector database approach. We embedded all your emails, we stuck them in a vector database, we had this interesting search stack and the goal there was to have the search results be good. It turns out if you have a really smart model and you have an agent, you don't actually care that much if the search results are good as long as you can run lots of searches. So what we found in Tasklet is we don't need to ingest all your email and index it. We can hook up to the regular APIs and just run a whole bunch of queries in parallel. Look at the results, adapt iterate, just keep refining. So the results are almost as good without any infrastructure. So it's a lot cheaper, you can connect more stuff. So I think if you find use Tasklit, you can hook it up to anything. Yeah, and you'll get surprisingly good search results without any special backend. But I imagine that that's sort of slow right now. And for a company like Google to roll that out to a billion users you know, for free immediately. That's going to be really expensive. So that's still a ways out. They need to actually chop through that. But we could expect that search will get faster and better over the next couple of years. Yeah, I think that is the big drawback. And like, as an example for. For prep for demo day, I wanted to make sure that I chatted with the folks that were here that reached out to me. And I've had people reaching out over a period of months. And So I took Fable 5 back when that was still a thing, and I pointed that at my Gmail and I said, go find everyone who has cold emailed me in the last n months who might be at demo day and give me a spreadsheet with those folks. And it spent and sacrament them. I want to know who should I talk to first and so on. And it spent like half an hour. It spent like $60 running this thing. Right. But the end of it, I had this spreadsheet of like 100 plus folks that was like carefully researched and like ordered and like, it found every. Like, there was no one I could think of that it didn't find in that process. So if you're willing to spend 60 bucks, if it's worth it to you, like, great. I love it. Are you. Last question. Are you capital constrained? Like, I'm assuming you have a bunch of offers. Maybe you already finished your fundraiser, but why even raise? It feels like you guys seem to be making. I would imagine with that kind of revenue ramp, it'd be hard to not be making money right now. We are not capital constrained. We actually already closed a $20 million round in April with USV and LightSpeed and some other folks. But we're competing directly with Anthropic and OpenAI. They've obviously raised a lot more money and I think we can put it to use. So we are raising more money now. I like just saying the actual reality because there's a lot of founders that would on and be like, well, actually like, we do something that, like, you know, and it's like, no, everyone is competing all the time and it's better to just accept it and play the game. So 100%. And I think Corgi set a new bar with, you know, three weeks from. From, what was it, Series B to C or whatever they did there. So, you know, why wait three days? Do it in three days. Three days. I love it. Awesome. Thank you for coming on. Yeah. Great to meet Andrew. Congratulations. Congrats on all. Talk to you soon. Thanks for having me. Have a good one. Let me tell you all about the New York Stock Exchange. Want to change the world? Raise capital at the New York Stock Exchange. Our next guest will be sitting in that same seat. Slotting in. In just a second. We have working on the microphone. Oh, yes, yes, yes. Good. Alexander says I pay for Starlink, a great product. Cursor is also a great product. Codex is a great product. And Claude with Fable is ridiculous products. That's the main difference between now and 1999. All of this stuff is awesome. So total white pill then read the follow up. I don't think you can really Compare this to 1999. I think it's actually unprecedented. If AI doesn't work, the global debt bomb explodes and there's a Great Depression, the 1999 tech bubble pop and things were generally fine. Yeah. So it is higher stakes, but it's more impactful. So he's, he's. I mean, it's a good point to not try and draw too much comparison to 1999 just because it's, it's, it's, it's technology. It's a technology driven boom. It is very, very different in terms of the financial structure and also the impact, the revenues, the rollout, the opportunity. All of these things were just in higher stakes territory, I suppose. Anyway, we have our next guest from Eden Robotics in the YC demo day stage. How are you doing? Welcome to the show. Hey guys. All good. How about yourselves? We're doing great. Thank you so much. Introduce yourself and the company. Yeah. So I'm Stam, CEO and co founder of Inner Robotics. We're making general purpose robots for manufacturing warehousing initially and everything else right after that. How general are we going humanoid? Are we going wheels? Are we going semi humanoid? Semi humanoid, what does that mean? Centaur. Yeah, Centaur. So the body, the legs are. There's four legs, like a horse human, but yeah. So semi humanoid. What does that actually mean? So that means it's a wheeled base robot. It has wheels, but it has two arms which are placed like a human in our shoulders. Same way we have. And it also doesn't have Dexter's hand. It has grippers, which, fun fact, can do more than 80% of of work in industry. Interesting. What about the wheels are important to decide. Like a lot of manufacturing facilities have very flat floors. So I imagine you don't need really any stair climbing ability, which some wheeled robots can do. But do you need to be omnidirectional? Do you need to change path? Is it Just about optimizing battery life. Like what are the trade offs that you decide when you're building the base? Yeah. So when you're building a base, really when you're going with wheeled, it's not going to be as general purpose as legs. Like legs can go anywhere, but it doesn't have to be. And you have a massive gain in both cost and energy. Legs are extremely expensive in terms of energy and also in terms of like simply cost. And also I imagine you can put way more battery pack on top of under wheel base, right? Yeah. How far? Half our base is just the battery. So half the base is just about it and then the other half is the compute. Yeah, that's it. So how, how long is there some sort of like sweet spot for? Once you have a robot that can roll around and do work in a manufacturing plant for six hours without needing to recharge. That's the sweet spot. You know how like 300 miles of range was like the sweet spot for electric vehicles and under that you start getting range anxiety. Yeah. So I think six hours is too low. Right now our robot is using a car battery it can run for, but with our own, not an electric car battery. Just like one of those like bricks. That's a car battery. Exactly. It's a really big car battery. Yeah. And with our own battery design, it can go for 20 hours and optimize charging for like these four hours and not have to like stop for four and work for 20, but like optimize throughout the time to charge enough. You got a car battery in there, you're thinking about putting a V8 in there? Maybe. Why not? Probably not. Terrible. So one of the, you know, we've had a bunch of robotics founders on. I've been trying to understand what, what some of the kind of like economic challenges there's going to be to rolling out, you know, humanoid esque robots. When I see some of these humanoid form factors, I'm thinking like, look how many different motors it has. How much wear is each of each of the motors going to be taking at any given point. And then like trying to run the number on the. Run the numbers on like the, what is the cost of the unit? What is the depreciation going to look like over the year? How often are you going to have to be repairing different components to actually make it competitive with a human, which you can hire for let's say 30 to $40,000 a year depending on minimum wage in a, you know, a certain area or type of role. Because like the you know, aside from humans being like cool and funny, they also go home after work and they feed themselves and they repair. You know, they, they sort of are repairing them, you know, repairing themselves while they're sleeping. Right. So that's like sort of off balance sheet, sort of like activity that's happening that ultimately benefits the business because somebody goes home, eats, sleeps, and then they come back to work refreshed, ready to go. That's a crazy way to describe human workers, but I get it. But yeah, just like comparing these two things, a robot, it doesn't go home at the end of the day. It might need to be repaired, it might need to be updated. And it doesn't happen unless the company actually pays for it. So the biggest kind of hardware risk factor is just the actuators really. Nothing else would require maintenance. Everything else would be able to last pretty long time. Right now we're at this point where you have actuators that are actually good enough to last like three years and last this over usage. It used to be that these actuators would overheat very quickly and you would be able to run for a very short amount of time. And there are some humanoids today, like for example, unit three robots, they're very famous for overheating very, very quickly. But there are actuators in the market and we are using such actuators that actually can sustain long hours of operation. We ran it for example, for 10 hours during alumni demo day. There was no hardware issue when it came to the actuators and it went pretty reliably. We expect that these kind of actuators would have a useful life of about three years. And in the case of the maintenance. So our whole thing by the way, is we're not selling these robots, so we're selling the labor. And in fact we're not even leasing them on a monthly basis. We're charging per hour. So we're charging a $10 per hour, which is actually found that customers love that idea much more than they love the lease idea because they have no mental framework. Right. They have the mental framework of a human worker. And so the maintenance would go is if a customer has a robot somehow breaks, there's a problem with it. And sorry, is it per hour that the robot is actually running? Yes, so it's per hour. So you're not just saying I'm going to charge you 24 hours a day for this period. It's like they're only paying if they're getting actual like a waymo. You're used to paying 20 bucks to get across town. You pay 20 bucks to get across town. Exactly. We do set minimums obviously because we need to keep the hardware at the facility. But it's just whatever is enough for us to keep the hardware there. Everything else is adapting based on usage. Well, congratulations. Thank you so much for coming. Did you already get the round done? Not yet, but we're very close. Good luck. Love it. Great to meet you. Come back on soon. Have a great one. Thank you. Have a good one. We'll talk to you soon while we bring in our next guest. Let me tell you about Figma agents. Meet the canvas. Your agents can now create modify your Figma files with design system context breaking from Semaphore. Yes. Netflix lost out to Fox and in pursuit of Roku. How is that possible? I mean yeah, it is interesting the lore there. Netflix sort of created Roku but the real question is like why would Netflix want to buy Roku? Like the boxes that just. That seems like it makes so much more, so much less sense. So in terms of lost out, I can imagine it's a platform they sit as an application on. On a platform that represents like 40% of connected streaming. I don't know. I'm not surprised they lost out because I would be surprised if Netflix, like when Netflix was bidding for Warner Brothers, that made a lot more sense to me. More library, more studio production for Netflix to distribute. But finding a second distributor when they're already competing in the ads based model, they're moving towards a cheaper distribution thing. They're already installed by default on most connected tv. I just think, I just think it's a way to. It's a way to expand like overall engagement. Watch hours. They're already getting into ads. Why would they not want to mon have like more basically like more watch hours to monitor. Maybe, maybe, maybe. It seems like way in Roku is in way better hands with Fox than Netflix. So it makes sense why the deal broke that way. Anyway, let's bring in our next guest, Hugo Frisk from Tenet Industries. Co founder and CEO. Hugo, how are you doing? What's going on? I'm doing great over here. Yeah, thank you so much for the time. Introduce yourself and the company. How you doing? Yeah, so I'm Hugo, I'm co founder of Tenet Industries and we are focusing on mass producibility and low cost for the defense system. Basically commoditizing it so.

NEWSMAX