Menlo Ventures' Matt Murphy has seen it all in tech—internet waves, mobile revolutions and cloud booms—but nothing compares to Anthropic's ascent. The startup is now valued at $47 billion, rocketing past its projected growth rates by a considerable margin.

Murphy’s Series D investment of $500 million highlights the company's unique trajectory from a pre-revenue, pre-launch bet to one of the most valuable startups in just a few short years. What sets Anthropic apart according to Murphy is not its model per se, but something else entirely.

‘I’ve never seen growth like this,’ says Murphy, hinting at factors beyond mere technical prowess driving Anthropic’s success. The podcast delves into why others missed the mark while Menlo got in early and what could be behind these fastest-growing startups ever seen.

This unprecedented growth raises intriguing questions about the future of AI. Will models alone suffice to drive industry leaders, or are other intangibles key? Follow Equity on X and Threads for more insights as Murphy discusses his journey with Anthropic.