How Andreessen Horowitz Disrupted VC & What’s Coming Next

On this episode, taken from The Ben & Marc Show, a16z co-founders Marc Andreessen and Ben Horowitz dive deep into the unfiltered story behind the founding of Andreessen Horowitz—and how they set out to reinvent venture capital itself.  For the first time, Marc and Ben walk through the origins, strategy, and philosophy behind building a world-class venture capital firm designed for the future—not just the next fund. They reveal how they broke industry norms with a bold brand, a full-stack support model, and a long-term commitment to backing exceptional builders—anchored in the radical idea that founders deserved real support, not just checks.  Joining them to guide the conversation is Erik Torenberg—Andreessen Horowitz’s newest General Partner—who makes his Ben & Marc Show moderating debut. Erik is a technology entrepreneur, investor, and founder of the media company Turpentine. Together, they explore:  - Why traditional VC needed reinvention  - How a16z scaled with a platform model, not a partner model  - The "barbell strategy" reshaping venture capital today  - Why venture remains a human craft, even in the age of AI  Timecodes:  00:00 - Intro  01:00 - Why Traditional Venture Capital Was Broken  03:05 - Marc on Discovering VC and Its Legends  05:12 - Surviving the Dot-Com Crash and Angel Investing Collapse  07:05 - Helping Founders Raise Venture / Fix VC Relationships  08:47 - The a16z Strategy: Building a Support Platform  12:07 - First Fund Wins: Skype, Instagram, Slack, Okta  12:50 - Building a 'World-Dominating Monster' 15:00 - The Sushi Boat VC Problem  18:07 - Treating LPs Differently  21:40 - Marc and Ben's Working Relationship  23:30 - Updating a16z’s Media Strategy for the Social Era  27:20 - History of the Decentralized Media Environment 30:36 - Decline of Corporate Brands and Going Direct  36:06 - Naming the Firm  40:13 - Building the a16z 'Cinematic Universe' of Talent  42:16 - Creating a Federated Model  51:02 - Deciding to Market the Firm  53:26 - Recruiting General Partners  56:33 - Evolution to Full-Stack Companies  01:03:53 - The Barbell Theory: The Death of Mid-Sized VCs 01:11:50 - Why Venture Capital Should Stay Overfunded  01:19:50 - When a16z Knew It Could Be Top Tier  01:25:58 - Venture Capital is an Art, Not a Science Resources: Marc on X: https://twitter.com/pmarca  Marc’s Substack: https://pmarca.substack.com/ Ben on X: https://twitter.com/bhorowitz  Erik on X: https://x.com/eriktorenberg  Erik's Substack: https://eriktorenberg.substack.com/