Andrew Hill, an Investor at Bessemer Venture Partners, joins the discussion on Europe's booming defense sector and its implications for tech startups. The hosts debate the ethics of investing in defense, especially as Germany leads in funding. They also explore OpenAI's new browser and its potential to disrupt Google, and whether we’ve hit peak large language model technology. Additionally, they dive into the impact of remote work on startup culture and examine how geopolitical factors are reshaping the venture landscape.
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Caution for Defense Startups
Founders should proceed with caution when entering defense due to complex government procurement and long timelines.
Only a small share of defense budgets goes to R&D, and it's a highly regulated market with few buyers.
insights INSIGHT
Moral Imperative of Defense Tech
Europe's defense necessity stems from geopolitical realities, not just opportunism in investment.
Strength deters aggression; past appeasement has led to conflict, underscoring the obligation to defend.
insights INSIGHT
OpenAI's Browser Strategy
OpenAI's browser launch aims to create a data moat and new ad market opportunities.
Browsers provide rich user behavior data beyond queries, crucial for ad targeting and monetization.
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Welcome back to another episode of the EUVC Podcast, your trusted inside track on the people, deals, and dynamics shaping European venture.
This week,
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of
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, gather to unpack the macro forces and micro signals shaping European tech and venture.
They unpack the defense boom powering Europe’s deep tech surge — and ask whether startups should rush in or sit this wave out. They break down OpenAI’s next big product moves, the battle for browser dominance, and whether we’re already at peak LLM. They ask if working from home quietly kills startup culture (and what actually keeps it alive). And they check in on Trump’s tariffs, Europe’s big tech fines, and the resilience playbook that’s pulling startups deeper into geopolitics.
If you’re investing, building, or just trying to make sense of where Europe’s venture scene goes next — this one’s for you.
Here’s what’s covered
02:00 | The defense boom: Europe’s rearmament moment How Germany has overtaken the UK in startup funding for the first time — and why defense, dual-use, and resilience are fueling the deep tech wave.
04:50 | Moral lines: should you build in defense? Mads, Lomax and Andrew debate whether there’s an ethical red line — and if Europe’s founders should follow the money or sit this one out.
08:40 | Peak LLM? OpenAI launches a browser Is OpenAI eating Google’s lunch? Mads explains why a new browser isn’t just a gimmick — it’s a data moat and a massive ad market play.
12:00 | The new search wars & what founders should do Lomax breaks down how SEO is dead — GEO (generative engine optimization) is in. Why this shift is reshaping startup distribution playbooks.
15:30 | Grok 4, Elon & the next frontier Mads explains how Musk’s Grok leapfrogged benchmarks — and why the next LLM battle is all about compute, data quality, and Nvidia’s $4T edge.
18:50 | Does working from home kill culture? Are great companies built on Slack or in person? The crew unpacks why strong culture is more than values on a wall — and why the best teams come together.
25:00 | Trump’s tariffs: a real threat or priced in? Why markets barely shrug at Trump’s latest trade threats — and what selective escalation could mean for European startups this autumn.
29:00 | UK startup stats: steady but small Eight billion raised, a handful of unicorns minted — but the US is still 20x bigger. Why the same structural issues keep the UK from scaling like Silicon Valley.
33:15 | Big Tech vs Europe: do the fines matter? From DMA penalties to encrypted chat backdoors, the team debates whether Brussels’ big fines work — and who really pays the price.
38:10 | Deal of the Week: Eutelsat’s €1.35B resilience play Why Europe’s sovereign satellite champion matters — and why Lomax wants them to rebrand fast.
EUVC