The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Why The Future of AI Is Open Not Closed, Why We Are Years Away From AI Being Autonomous, Why AI Founders Do Not Need to Move to the Valley & Why Founders Should Not Meet Investors in Between Rounds with Clem Delangue @ Hugging Face

May 12, 2023

Clem Delangue, Co-founder and CEO of Hugging Face, discusses the journey from a Tamagotchi startup to a leading AI platform. He emphasizes the importance of open-source AI, arguing it will surpass closed models in the long run. Clem highlights that true AI autonomy is still years away and addresses the hype surrounding AI, distinguishing between realistic advancements and exaggerations. He also stresses the need for proactive regulations in AI to combat biases. Alongside these insights, he shares crucial advice for founders on pivoting and navigating investor relationships.

47:17

Creator website

Episode guests

Clem Delangue

Highlights

AI Chapters

Episode notes

Who Will Gain the Most from the Next Wave of AI Innovation?

01:25

Building Long-Term Investor Relationships During Fundraising

01:18

Learning that nothing gets easier changed my mindset: Clem Delangue @Hugging Face

00:34

Intro

4min

From Emoji Dreams to AI Platform: The Founding Story

3min

AI Evolution: Hype vs. Reality

16min

AI Futures: Startups vs. Incumbents

5min

Regulating the Future of AI

5min

Building Authentic Founder-Investor Relationships

9min

Navigating AI Risks and Community Collaboration in Tech Innovation

2min

Building Impactful Companies: Lessons in AI and Collaboration

4min

Clem Delangue is the Co-Founder and CEO @ Hugging Face, the AI community building the future. To date, Clem has raised over $160M from the likes of Sequoia, Coatue, Addition and Lux Capital to name a few. Prior to Hugging Face, Clem was in product and marketing at two different startups both of which were acquired.

In Today's Episode with Clem Delangue:

1. From Tamagotchi to Leading the World of AI:

How did a Tamagotchi startup turn into one of the hottest AI startups in the world?
What does Clem know now that he wishes he had known when he started?
What are Clem's biggest pieces of advice to founders on pivoting?

2. AI: Trend or Transformation:

To what extent does Clem believe the current hype in AI is justified?
What is overblown? What have been some true and groundbreaking developments?
How far away does Clem believe AGI is?
What is a massive misconception the public has that Clem wishes he could change?

3. Open vs Closed: Which Model Wins:

Why does Clem believe the future of AI will be won by open-source?
What is his reasoning to suggest closed is fundamentally a weaker model?
Does Clem acknowledge that in the short term, enterprises will buy from a closed model with greater ease? How does he plan to tackle this?

4. Regulation: What Happens Now:

What regulatory changes need to be made in the world of AI most urgently?
Is Elon Musk right to suggest the immediate pausing of developments in AI?
What does Clem believe to be the most likely scenario to AI regulation in the next 12 months?

5. Fundraising: Lessons and Reflection on Raising $160M:

Do AI startups fundamentally cost more money than normal startups to build?
Why does Clem not meet investors in between rounds?
What does Clem believe is the most helpful thing an investor can do?
What are Clem's spiciest takes on venture as a financing model?

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