Over the last decade, startup exit timelines have stretched, cap tables have grown more complex, and LPs have become more focused on liquidity. That’s why Homebrew co-founder Hunter Walk says it’s time for early-stage VCs to embrace secondaries—not as a last resort, but as part of the playbook.

In this episode, Hunter breaks down why the traditional “buy and hold” mindset is breaking down, how the dynamic between small funds and mega-AUM firms is reshaping investor behavior, and what responsible secondaries can look like for both founders and early backers.

We also covered Windsurf’s new pricing war with Cursor, Datadog’s latest acquisition, Perplexity’s iPhone assistant rollout, and Tesla’s robotaxi pilot in Austin.