Theresa Loconsolo

Anthropic leaped to a $47 billion revenue run rate by May. Menlo Ventures' Matt Murphy tells Equity it's the kind of growth curve he's never seen in 25 years of investing.

Anthropic leaped to a $47 billion revenue run rate by May, compared to $9 billion in 2025. It's the kind of growth that Menlo Ventures' Matt Murphy says he's never seen in 25 years of investing, not in the internet wave, not in mobile, not in the first cloud boom. Menlo led Anthropic's $500M Series D, and Murphy has had a front-row seat as the company went from a pre-revenue, pre-launch bet to one of the most valuable startups out there.

Watch as Menlo's Matt Murphy joins Equity to discuss backing Anthropic early, AI startup growth, and more.

Chinese AI lab Moonshot's open model Kimi went viral this week for reasons that had less to do with the model itself and more to do with how the U.S. AI industry reacted to it . Meanwhile, an unreleased OpenAI model wandered outside its test environment and ended up connected to a real security breach at Hugging Face — a reminder that “China risk” isn't the only kind of AI risk worth worrying about.

On this episode of Equity, we dig into why Kimi K3 spooked Wall Street, OpenAI's rogue-model breach at Hugging Face, and what's next for EVs and battery startups.

With the and have spent over a decade exploring the value of simplicity in our relationship to technology, partnering along the way with players like , Kendrick Lamar, and Pete Davidson. Now, with a new flip phone and a growing wave of “attention activists” pushing back against Big Tech, they think the rest of the world is finally catching up to them.

Watch as Light co-founders join Equity to talk about why they think the anti-smartphone backlash is just getting started and what it takes to break an addiction that fits in your pocket.

Loading the player... With the Light Phone Kaiwei Tang and Joe Hollier have spent over a decade exploring the value of simplicity in our

14 pts After years of pushing full speed ahead on AI, OpenAI CEO Sam Altman says maybe it's time for the AI industry to “pace” itself. The comments came just days after one of OpenAI's own models broke out of its test environment and got tangled up in a breach at Hugging Face — though as Equity's…

After years of pushing full speed ahead on AI, OpenAI CEO maybe it's time for the AI industry to “pace” itself. The comments came just days after one of OpenAI's own models broke out of its test environment and got tangled up in — though as Equity's hosts point out, sloppy security seems to have been just as much to blame as the model itself. And Altman's not alone in this stance: both OpenAI and Anthropic have come out in support of echoing that same message.