Steven Sinofsky & Balaji Srinivasan on the Future of M&A, AI & Tech

There’s been a wave of M&A deals lately - Meta and Scale, Windsurf and Google - and a lot of it points to something bigger: how regulation, capital, and innovation are colliding in 2025.

In this episode, Erik Torenberg brings together Steven Sinofsky, former Microsoft Executive, and Balaji Srinivasan, founder of the Network School and author of the Network State, to break it all down.

From acquihires to “acquifires,” from FTC crackdowns to the deeper battle between the state and the network, this is a sharp conversation on the future of tech and power.

Timecodes:
0:00 Introduction
1:00 Three Key Issues in US Capital Markets
2:25 The All-Out Anti-Tech Assault
3:23 The Rise of Computing Without Regulation
6:04 Network vs State: The Fundamental Conflict
25:02 The Evolution of M&A Deal Structures
32:04 The Power Law of M&A Success
44:05 Windsurf Case Study: Status vs Money and M&A Optics
01:03:17 AI’s Impact on Talent, Team Structure, and Scale
01:14:16 A New Proactive Approach to Tech Regulation

Resources
Find Balaji on X: https://x.com/balajis
Find Steven on X: https://x.com/stevesi
Learn more about The Network State: https://thenetworkstate.com
Learn more about The Network School: https://ns.com

Stay Updated:
Let us know what you think: https://ratethispodcast.com/a16z
Find a16z on Twitter:   / a16z  
Find a16z on LinkedIn:   / a16z  
Subscribe on your favorite podcast app: https://a16z.simplecast.com/
Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details, please see a16z.com/disclosures.