Odd Lots Ethan Kurzweil on Venture Investing in the Post-ZIRP, AI Era
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Dec 6, 2024 Ethan Kurzweil, founder of Chemistry VC, brings his extensive background from Bessemer Venture Partners to discuss the shifted venture capital landscape. He delves into the unique challenges present post-ZIRP, particularly in AI and tech investments. Kurzweil shares insights on why his new fund emphasizes personal relationships and early-stage opportunities. He explores the competitive dynamics of AI, the balance between proprietary and open-source innovations, and the future of tech amidst emerging regulations. Exciting times lie ahead for venture investing!
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Venture Landscape Shift
- The venture capital landscape in the 2010s saw an explosion of funds and investments, exceeding the capacity of companies to absorb capital.
- This overcapitalization, coupled with the rise of AI, creates a complex dynamic in the current venture landscape.
The Right Venture Capital
- The world needs the right venture capital funds, not just more of them.
- A misalignment exists between LPs, venture managers, and founders, necessitating a return to venture's roots.
Investment Strategy
- Focus on pre-inflection point companies poised for takeoff, rather than simply moving large amounts of capital.
- Prioritize identifying defining companies of the era over broader investments.