The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Benchmark's Eric Vishria on Where is the Value in AI: Chips, Models or Apps | Why Nvidia Will Not Be The Only Game in Town | The Commoditisation of Foundation Models | Which AI Apps Have Sustaining Value vs Hype and Short Term Revenue
Sep 25, 2024
Eric Vishria, General Partner at Benchmark Capital, shares insights on the ever-evolving world of AI. He discusses the rapid commoditization of foundation models and why competitors will emerge beyond Nvidia. Vishria differentiates sustainable AI applications from those generating fleeting 'sugar high' profits, emphasizing the need for robust revenue quality. He also dives into Benchmark's decision-making processes and the dynamics that guide successful investments in this fast-paced landscape.
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Quick takeaways
- Foundational models are becoming a transformative asset class in AI, requiring companies to adapt swiftly to remain competitive.
- Investors must critically assess AI applications for sustainable revenue, distinguishing between genuine value and mere hype in the market.
Deep dives
The Rapid Rise of Foundational Models
Foundational models are rapidly becoming the most significant asset class in human history, representing a massive transformation in artificial intelligence. This shift is expected to eclipse previous technological advancements combined, emphasizing the importance of adaptability in the tech landscape. The speaker notes the current period is both thrilling and confusing, with increased activity comparable to the heightened investment seen in the tech boom of 2010-2011. Emphasizing the urgency of understanding this evolution, companies need to harness these foundational models to remain competitive.
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