Episode #93: Vertical AI Today with Nic Poulos of Euclid Ventures

This week we sit down with Nic Poulos, Co-Founder and General Partner at Euclid Ventures and one of the sharper voices on vertical AI, to pressure test the thesis as we head into the end of Q3. We dig into what defensibility actually looks like when any founder can spin up a vertical AI product in a weekend, why a $500M median exit is great math for some funds and tough math for others, and where "death of SaaS" narrative currently sits. Nic also revisits his 2026 predictions on deep tech fragmenting and religion as a vertical AI opportunity.