Big Technology Podcast Where Are The AI Startups? — With Rick Heitzmann
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Oct 15, 2025 Rick Heitzmann, founder and managing partner of FirstMark Capital, dives into the competitive landscape of AI startups. He explores the dominance of large models like ChatGPT and discusses how focused datasets can outperform broad models in enterprise applications. Heitzmann raises important points about data privacy creating new business opportunities and shares insights on whether the current investment frenzy in AI is sustainable. Lastly, he ponders how AI will disrupt white-collar jobs and advises Gen Z on adapting to this technological shift.
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Broad Models Crush Generic Consumer Apps
- OpenAI's ChatGPT combines breadth and depth, making it hard for many consumer startups to compete.
- Startups win when they control specific, private data that general models lack.
Data Ownership Trumps Model Novelty
- Vertical AI succeeds when firms own discreet, proprietary data sets.
- This private data enables models to deliver superior industry-specific applications.
Protect Data To Build AI Moats
- Secure and isolate your data if you want AI advantages over public models.
- Build walled-garden models or clear data ownership rules to create defensibility.