Moth Minds Matt Clifford: Co-founder & CEO of Entrepreneur First
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Aug 22, 2023 Matt Clifford, co-founder and CEO of Entrepreneur First, talks about the characteristics of entrepreneurship, the goals of ARIA, and how the internet amplifies variance. They also discuss the future of AI, slowing progress in science, increasing the supply of founders, and encouraging entrepreneurship. They explore the challenges of fitting Entrepreneur First into a traditional fund structure and restructuring as a permanent capital vehicle.
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Internet As A Variance Amplifier
- The internet amplifies variance by making niche events reachable to billions and intensifying winner-take-most dynamics.
- This Matthew-effect amplification returns society to higher outcome extremes compared to modernity's dampening institutions.
AI's Divergent Paths For Centralization
- AI could either centralize power into a dominant AI or decentralize capabilities into many competitive AIs, changing variance dramatically.
- A proliferation of powerful, distributed AIs would massively amplify variance and accelerate both upside and downside outcomes.
Slowing Science Needs Institutional Fixes
- Scientific progress per researcher and per dollar appears to be slowing; breakthroughs now need more people and capital.
- ARIA is a response betting that institutional design, not exhausted low-hanging fruit, partly explains the slowdown.