20VC: The Return of Travis Kalanick: Uber Would Be $1TRN Today With Him | NVIDIA Predicts $1TRN in Revenue: Everything You Need to Know From GTC | Anduril Lands $20BN Army Contract | Adobe CEO Shock Exit: The Dominos Falling - The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch Recap

Podcast: The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Published: 2026-03-19

Guests: Jason Lemkin, Rory O'Driscoll

What Happened

Travis Kalanick, the former CEO of Uber, makes a bold claim that if he were still at the helm, Uber would be valued at a trillion dollars today. He argues that his vision for autonomy and aggressive strategies could have propelled Uber to greater heights, contrasting with the current $160 billion valuation. Kalanick also shares his insights on the efficiency of industrial robots versus humanoid robots, emphasizing the potential for robots on wheels in industrial settings.

NVIDIA's GTC event revealed their forecast of reaching a trillion dollars in revenue over the next few years. Their confidence is backed by a significant increase in their past revenue, which jumped from $20 billion to $215 billion within four years. NVIDIA's focus on data centers in space and the launch of NemoClaw, their version of OpenClaw, highlight their strategic directions amidst massive CapEx spending projections.

Anduril's recent achievement includes securing a $20 billion Army contract, consolidating 120 procurement actions into one. Their primary product, Lattice, facilitates software connectivity for military hardware. This move underscores the size of the defense market relative to healthcare, with defense spending just over 3% of GDP.

Adobe faces internal challenges as its CEO unexpectedly steps down without a successor, causing its stock to drop despite beating earnings. This abrupt exit raises questions about potential internal issues within Adobe. The company, along with Intuit, is considered somewhat insulated from competitive threats, although AI poses a risk to Adobe's traditional creative processes.

The job market is undergoing a transformation, with a rising demand for AI-fluent individuals capable of integrating commercial AI tools into organizations. Roles such as prompt engineers are becoming obsolete, while companies are advised to hire experts who can deploy AI and agent technologies effectively. The shift reflects the broader trend of reallocating resources from human capital to computing power, as seen with Meta's potential 20% workforce reduction.

Checkout.com reported a dramatic 64% increase in processing volume in 2025, reaching over $300 billion and returning to full-year EBITDA profitability. Serving over a thousand enterprise merchants globally, their client list includes brands like eBay and ASOS. Checkout.com is investing in innovations across marketplaces and financial experiences, positioning itself as a leader in ajantic commerce.

Key Insights

• Travis Kalanick believes that Uber could have reached a trillion-dollar valuation if it had continued focusing on autonomous driving, a vision he held before being replaced. He argues that his aggressive tactics were crucial in competing with rivals like Lyft.
• NVIDIA's ambitious revenue forecast is driven by their significant investment in AI and data centers, expecting a $10 trillion cumulative booking over the next 5-7 years. They foresee a $400 to $500 billion CapEx spend if revenue projections are met.
• Anduril's $20 billion contract with the Army reflects the growing importance of defense technology, with their Lattice software centralizing military hardware connectivity. This contract highlights the defense market's potential, though it's smaller than healthcare as a percentage of GDP.
• Adobe's CEO resignation without a named successor has raised concerns about internal stability, despite strong financial performance. The company faces disruption risk from AI, impacting how creative work is traditionally done.