OVER DEZE AFLEVERING
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Today’s show:
Democrats took the House and Senate, and overnight trading suggested a huge market drop. But in the morning, the markets went another way, and D.A. Wallach thinks he knows why. A Congress that can’t get anything done can’t do anything BAD, like start a war or a tariff fight. The only thing markets hate than gridlock is uncertainty.
On the first post-midterm This Week in VC roundtable, Jason is joined by Wallach (Time BioVentures), Elana Gold (Two Roads Capital), and Tomasz Tunguz (Theory Ventures).
Together, they work out what a split government could mean for tech and venture. Data centers are now a political target for both parties. 2027 might be the last major window for big M&A. Plus, D.A. worries that an intergenerational war could be brewing, between the people who own AI’s upside, and the young workers who fear getting replaced.
Plus thoughts on Cava’s 22% layoffs, Sequoia shutting down its Scouts and Arc program, the SPV “boiler room,” and more.
Guests
D.A. Wallach on X: https://x.com/dawallach
Time BioVentures: https://www.timebioventures.com/
Elana Gold on X: https://x.com/ItsElanaGold
Two Roads Capital: https://tworoads.vc/
Tomasz Tunguz on X: https://x.com/ttunguz
Theory Ventures: https://theoryvc.com/
Relevant Links:
NBC exit poll: 56% say AI and data centers were a crucial or major factor (DCD): https://www.datacenterdynamics.com/en/news/nbc-exit-poll-56-say-ai-data-centers-were-a-crucial-or-major-factor-in-congressional-vote-decision/
How AI backlash shaped the 2026 midterms (TIME): https://time.com/article/2026/11/04/midterm-elections-results-ai-industry-data-centers/
Musk on chips outrunning electricity in 2026, with Elon's reply: https://x.com/elonmusk/status/2117649850644705591
Panthalassa raises $140M for wave-powered AI compute at sea (Tom's Hardware): https://tomshardware.com/tech-industry/artificial-intelligence/palantir-co-founder-peter-thiel-backs-usd140m-wave-powered-ai-data-center-startup-panthalassa-aims-to-run-offshore-compute-nodes-using-ocean-energy
Marvell to buy Lumentum in a $115B deal (The Next Web): https://thenextweb.com/news/marvell-lumentum-acquisition-115bn-all-stock
San Francisco mourns bodega cat killed by a Waymo (CBS SF): https://www.cbsnews.com/sanfrancisco/news/sf-mission-district-mourns-store-cat-killed-by-waymo
Meta launches $115M program to train workers for data center jobs (Axios): https://www.axios.com/2026/06/08/meta-data-center-workforce-academy-job-guarantee
Keep track of the value you're getting from AI (TWiST): https://twistartups.substack.com/p/keep-track-of-the-value-youre-getting-da4
Meta's Muse hits 10.9M downloads (Yahoo Finance): https://finance.yahoo.com/markets/article/metas-muse-ai-agent-hits-109-million-downloads-as-chatgpt-slides-25-153532560.html
Curbie (Revere Robotics): https://www.revererobotics.com/
Canva lays off over 1,200 people amid slowing growth (TechCrunch): https://techcrunch.com/2026/11/04/canva-lays-off-over-1200-people-amid-slowing-growth/
Ollama raises $65M as it nears 9M developers (Startup Fortune): https://startupfortune.com/ollama-raises-65-million-as-it-grows-to-nearly-9-million-developers/
Sequoia hits rewind, undoing 20 years of expansion (TechCrunch): https://techcrunch.com/2026/11/04/sequoia-hits-rewind-undoing-20-years-of-expansion/
"The Sequoia of Tomorrow" (Sequoia): https://x.com/sequoia/status/2117961312143855764
Travis Kalanick's Atoms raises $1.7B (TechCrunch): https://techcrunch.com/2026/07/22/travis-kalanicks-robotics-company-raises-1-7b-led-by-a16z/
Vast: https://www.vastspace.com
SEC accredited investor exam could expand private-market access (CNBC): https://www.cnbc.com/2026/10/01/sec-accredited-investor-exam-private-markets.html
General Compute raises a $100M Series A (DCD): https://datacenterdynamics.com/en/news/neocloud-general-compute-raises-100m-in-series-a-funding-round
Hyperliquid CEO Jeff Yan on democratizing pre-IPO access (Motley Fool): https://www.fool.com/investing/2026/10/19/hyperliquid-ceo-jeff-yan-says-perpetual-futures-ma/
Kalshi Perps: https://kalshi.com/perps
Aalo Atomics: https://www.aalo.com
Exowatt: https://www.exowatt.com
Timestamps:
0:00 The Blue Wave: Dems take Congress
0:10 Plaud: If your work depends on conversations - interviews, meetings, calls - you need a Plaud NotePin S. You can check it out at https://plaud.ai/twist and use code TWIST for 10% off!
6:42 What a split gov’t means for defense tech
9:21 Is 2027 the last big window for tech M&A?
11:04 Every.io: For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit https://every.io.
13:44 Are anti-robotaxi laws coming?
18:51 The need for positive AI stories
24:12 Vanta - Get $1000 off your SOC 2 at https://www.vanta.com/twist
25:59 How AI can make voters smarter
31:22 Self-driving and the future of car insurance
40:17 G2i has been recruiting software engineers for over a decade. Go to https://g2i.co/twist to find out how G2i vets engineers, and can help you hire them in days, not weeks.
45:00 Jason’s $12K Mac Studio
50:12 Sequoia retires its Scouts and Arc programs
58:21 Jason’s barbell: Zipline, Atoms, and Vast
1:01:19 When VC firms go public
1:08:42 Scrap the accredited investor rule
1:14:26 Hyperliquid and permissionless synthetic markets
1:17:17 Kalshi perps and Anthropic price discovery
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