Startups today can grow to huge valuations, cash out their employees, and stay private longer than those of previous eras. But that also means that late-stage startups are facing a whole new set of rules. In this TechCrunch Disrupt 2025 session, a16z’s David George unpacks the shifting VC landscape, what the next generation of scaled startups needs to know, and how capital is being deployed in an era of tighter money and higher expectations.
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