# Tod Sacerdoti (Flex GP and Pipedream CEO) on seed at scale and SaaS mispricing

An episode of [Summation with Auren Hoffman](https://invisiblenetwork.ai/podcast/1570644971), 3 Mar 2026, 1 h 02 min.

Audio: https://www.buzzsprout.com/1783651/episodes/18778233-tod-sacerdoti-flex-gp-and-pipedream-ceo-on-seed-at-scale-and-saas-mispricing.mp3

Tod Sacerdoti is the CEO and co-founder of Pipedream, which recently sold to Workday. Tod is also a general partner at Flex Capital, where he's invested in over 400 companies including Chime, Vercel, Replit, CodeRabbit, Mercury, and many others. He previously founded BrightRoll, a programmatic video advertising platform that sold to Yahoo for $640 million in 2014. In this episode of Summation, Tod and Auren discuss: • Why seed investing has the highest annualized returns of any venture asset class • First-gen AI companies being the most vulnerable to AI disruption • QSBS and why it's the most important tax benefit nobody talks about • The founder code and what happens when people break it You can find Auren Hoffman on X at @auren and Tod Sacerdoti on X at @tod

Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them.