Uncapped with Jack Altman Uncapped #49 | Kevin Hartz & Bennett Siegel from A*
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May 12, 2026 
Kevin Hartz, serial entrepreneur (Eventbrite, Xoom) and investor; Bennett Siegel, early-stage investor and A* partner. They discuss how AI is reshaping startup founding and venture capital. They cover younger and researcher-led founders, the influx of big funds into seed, AI rollups and their pitfalls, and the promise of robotics and hardware in the coming AI boom.
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Decagon Came From Prior Relationship
- A-Star's Decagon investment came from prior relationships and conviction in the team despite little initial idea.
- Kevin recounts being an angel in the founders' prior company and following them into Decagon when they regrouped.
Build Relationships Before The Round
- Prior relationships create better seed returns, so develop rapport with founders early rather than sourcing cold during rounds.
- Kevin reports over half their seats were pseudo-proprietary and those have outperformed.
Seed Investing Is Exceptionally Difficult
- Seed is uniquely hard: high effort to source, support, and select a tiny number of long-term winners from many failures.
- Bennett says many firms either evolve away from seed or fail to refresh networks and drop out.