Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed and Lomax from Outsized Ventures unpack what’s happening in European tech and venture capital.
This week: Why Meta and Microsoft are minting cash from AI, what Figma’s IPO signals for SaaS, whether the EU got rolled in its new trade deal with the US, and how Europe’s AI scene is finally delivering billion‑dollar exits. Plus: OpenAI’s new “Study Mode” and Harry Stebbings’ Project Europe—an “anti‑YC” deep‑tech accelerator for founders under 25.
🎧 Here's what's covered:
01:07 Meta & Microsoft Blowout Earnings: How AI is driving real revenue and margins.
04:43 Meta’s Efficiency Playbook: Ads, engagement, and headcount cuts fueling growth.
06:39 Zuckerberg’s Billion-Dollar AI Talent Grab: Why Meta is betting the farm on AI.
11:23 CapEx Shockwaves: Meta at $70B and Amazon at $100B—bigger than all of European VC.
14:02 Sticky Inflation & AI Boom: Why markets stay bullish despite high rates.
21:33 Figma’s Blockbuster IPO: SaaS revival or a one‑off outlier?
25:37 Index Ventures’ €7B Payday: Power law dynamics in European venture.
33:51 EU–US Trade Deal Breakdown: Tariffs, defense procurement, and $600B in investment.
46:43 Anthropic’s $5B Raise: Can US AI dominance withstand cheap, open‑source rivals from China?
49:32 Germany’s $1B AI Exit: Cognigy and the rise of European enterprise AI.
01:07:59 Accelerators & the “Best Founders Don’t Need Them” Debate
