20VC x SaaStr: Pacing the Frontier, Meta Ships Muse, and Miro Sells for $1.35B After a $17.5B Mark Plus: a $1B round at $10B for Instinct, Discovery Loop from $10B to $50B in weeks, and Mistral’s €3B sovereignty round #1. Dario Called for Pacing the Frontier, and the Market Moved 0.1% Dario Amodei published a call to pace the frontier, proposing an external body that would monitor and constrain frontier model capabilities. Sam Altman agreed. Elon agreed. The letter names three risks: cyber, economic disruption, and losing control of the models. Separately, an Anthropic safety lead put a 10% number on catastrophic outcomes, and that’s the number everyone repeated. The reception was close to universally hostile. Rory’s read: two of the three risks don’t hold up. The cyber risk is real, but that capability is already out and in the open-weight ecosystem. The economic argument fails on its own terms, because by that logic we’d still have 73% of the workforce on farms. Only loss of cont