Ben Horowitz, co-founder of Andreessen Horowitz (a16z), has been active in discussions about the firm's strategy, the impact of AI, and the need for American technological competitiveness. In a series of appearances, Horowitz described a16z's approach to venture capital as a "network effect" business, built on centralizing control while sharing economics to allow the firm to reorganize and scale. He stated that the firm raised $15 billion in a new set of funds, which he described as the largest in a16z's history. Horowitz argued that the fundamental rules of software competition have changed with AI, stating that "code is not really a moat" and that "you can throw money at the problem" with enough GPUs and data. He contrasted this with leveraged buyouts, which he said are "culturally the opposite of venture capital." Horowitz has also focused on the geopolitical implications of AI, expressing concern that the United States could lose its technological edge. He cited a statistic that "over 70% of people in China are optimistic about AI and less than 30% in America were optimistic about AI." Horowitz stated that his "biggest worry" is the perception of technology in America and the potential for overregulation, saying that "the most dangerous thing I think on AI by far is that we kind of fail as a country, we get too scared, we overregulate... and then China wins." He argued that the U.S. needs to rebuild its infrastructure, citing bottlenecks in rare earth minerals, electricity, and manufacturing capacity. Horowitz also discussed a16z's shift to a "new media" strategy, which he characterized as "offense-oriented" and focused on being interesting rather than pleasing every audience.