The Future of Investing

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John MacIntosh: You can never time the market both from an interest rate perspective and from a technology innovation perspective. So for us, like we tried to hold discipline to that. We're investing out of our sixth fund now. It will be a four year roughly fun cycle. He says there's still a class of companies which are obvious hot and doing really well at high price. And in that case, that lowers your average ownership generally but I'm not sure if it happens with this one.

How do you build defensible business value in an era when, as AngelList CEO Avlok Kohli said on our last ACQ2 episode, the “cost of intelligence is going to zero”? Longtime friend of the show Jake Saper and his partners at Emergence Capital have been refining their thesis for this brave new world of Generative AI in B2B, and we sit down with him to discuss. We cover topics including:

When do exactly correct answers matter, and when do they not?
When are human-in-the-loop systems necessary?
When do startups have an advantage vs. incumbents, and vice-versa?
Where can companies capture value on a durable basis?
When do you need proprietary data in order to be defensible?

Whether you’re building or investing in existing businesses from the “pre-AI” era or brand new startups that are native to GPT, this episode has plenty of takeaways you should consider. Tune in!

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