Googles Gemini just busted in the advertisements

So the investment thesis has gone from “We invest in network effect businesses because they lend themselves well to founders taking on large incumbents” to “we invest in commodities in the extremely off chance one of them can make a compelling marketing campaign?” Wtf? I think if you really believe this now you should return your LP’s money or rebrand. Dark times we live in when NFX is essentially saying we’re in the bottled water industry now. Network effects are still very much available (rarer but around), just gotta look away from the AI death trap plaguing the scene. Also this is a terrible analogy. What do you think the margins are on water? Perhaps it’s the only physical product that has virtually zero marginal cost. AI on the other hand is perhaps the only software product that has extremely high marginal costs and there’s not much evidence that they’re coming down anytime soon. What happened guys?

Exactly what I was thinking 😁, and using the analogy of water to explain this is a great idea. We're stepping into a world where almost everyone can do what you do, and tech is becoming less of a differentiator or entry barrier. But on the other hand, a whole new world of opportunities is opening up for resourceful entrepreneurs...

Aha. Yeah.

We have a dozen. They are spectacular! Everything they have spoken about and more. Thank you for your manifestation of dreams into reality.

This is probably obvious, but I'd live to see a learning institution or initiative like Khan's Academy given a massive AI boost so that students can essentially have a 24/7 tutor. I would think we have the tools today to be able to do this - and I think the benefits to children's learning would be game changing. (I think I heard that the founder might be doing something like this already) I'm always asking AI to help me understand some of the more challenging ideas, by providing simplified illustrations or breaking down concepts into parts - and having conversations to learn are so much more natural and relaxed. Once a chat can draw concepts and illustrate learning concepts - that is going to be wow! The possibility of the branding design expertise I have being displaced is certainly worrying, but the fact that it might push us all into higher level thinking is also very intriguing - and I don't honestly feel we practically hold back the wave of AI now that the box has been opened.

By YouSum Live 00:00:26 Approach investor meetings as collaborations. 00:00:52 Maximize learning, not just money, from investors. 00:01:52 Focus on building relationships for long-term success. By YouSum Live

Amazing talk by a lovely speaker

great, makes some hope

Awesome video and the presenter is great! Thanks for sharing👍

Raining poop is a perfect analogy. My research has generated IP on human aging. It appears aging is competition for resource with your microbiome. You're growing trillions of bacteria rather than cellular repair... (C) You ultimately decline and die. Would that start-up meet NFX criteria?

Guys, don't start a startup before watching this video. Unless you like to spend time making thousands versions of your fu@&%ng deck.

Yes. It's all about the UX/UI now

Was reading a old dictionary from the 40s and came across something called a fox fire apparently a bioluminescence Fungi on the undergrowth of a forest floor that appeared to have a fire like glow was it once a real thing 🤔

This is exciting to listen to . I want to go see you talk!

Working with so many start-ups (and established companies); helping them to position strongly, for those three minutes..... Thank you, Mike #sequoiacapital. Sage Advice.

The video clearly highlights "Israel". What this program has to do with Israel?

can you smoke it?

Good Pitch about Pitch)

Interesting. A more intellectual discussion of AI potential vs the sensational that we are becoming accustomed to.

A gem 💎

Thats a great personal story about naming your company!

If any startup watching this has a 100x better solution (what they want), don’t pitch these guys. They will low ball you. If you truly have a 100x better solution it’s worth 100m Val don’t let these low ballers tell you otherwise, their entire job is to make you accept a low value.

kzbin.info/www/bejne/eqm9oX6ff9Fpaqssi=rARqdAvha9L4qaIz

1. AI's Disruptive Potential: AI has caused significant excitement due to its vast potential to disrupt various industries. Its applications span across society, culture, education, and business, offering new opportunities for startups. 2. Historical Perspective on AI Impact: By looking back at events like Gary Kasparov's defeat by IBM's AI in chess, we can understand the potential of AI to challenge and beat human expertise, signaling early examples of AI's disruptive capability. 3. Startups vs. Incumbents: There's a debate on whether AI will benefit existing large companies (incumbents) or enable startups to thrive. While incumbents like Microsoft and Meta have seen their value increase due to AI, there's still significant potential for startups to innovate and disrupt established markets. 4. Sustaining vs. Disrupting Innovation: AI can act as a sustaining innovation that strengthens incumbents' positions by enhancing existing models (e.g., Meta using AI for ad targeting) or as a disrupting innovation that challenges and potentially replaces incumbents. 5. Paths for Disruptive Innovation in AI Startups: - Exploiting business model conflicts (e.g., ChatGPT disrupting Google's revenue model). - Speed of execution in traditional, slow-moving industries. - Being radically better by leveraging AI to offer superior solutions. - Utilizing AI to navigate and derive insights from unstructured data. - Enhancing user experience significantly through simple, intuitive interfaces. 6. Importance of Niche Markets: Startups often emerge from serving underserved niches, providing solutions that may initially appear as toys but can grow to dominate markets. [IMPORTANT] 7. Timing for Startups: Successful startups often align with enabling technologies, economic impetus, and cultural acceptance to hit the market at the right time. 8. Investment Criteria for AI Startups: NFX focuses on long-term defensibility, fast and capable teams, economic moats, initial markets with growth potential, fair valuation, and products that are significantly better than existing solutions.

So much overhype. Don't promote features of new products Start from the economy and then back paddle to a product

Good Video. Very informative.

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Thank you a very interesting conversation..

insightful indeed

Insightful.

🎯 Key Takeaways for quick navigation: 02:18 *📈 AI's impact on industries has been significant, as seen in the disruption caused in various sectors, such as chess by IBM's victory over Kasparov in 1997.* 03:53 *🔄 AI can act as both a sustaining innovation, like Meta's use of AI for ad targeting, and a disruptive force, challenging existing incumbents across various sectors.* 06:13 *🚀 Five paths for AI startups to achieve disruptive innovation include exploiting business model conflicts, leveraging speed advantages in traditional industries, aiming for radical improvement, tapping into unstructured data, and focusing on enhancing user experience.* 16:31 *🎮 Startups can find success by targeting underserved niches initially, as seen with chat AI like Character AI, which began in frivolous areas before scaling up.* 19:10 *💡 Successful startup timing requires aligning with enabling technology, economic incentives, and cultural acceptance, with examples such as Zoom and Uber illustrating this synergy.* 22:49 *🔄 Principles post-2008 financial crisis unlocked new opportunities for disruption, highlighting the importance of timing in startup ventures.* 23:31 *🎯 Venture capitalists prioritize long-term defensibility, looking for network effects and embedding in AI startups for sustainable growth.* 25:07 *🏃 Fast-paced execution is crucial for startups in the rapidly changing landscape of AI innovation.* 25:48 *🏰 Economic moats are vital for AI products, especially as the cost dynamics of technology evolve rapidly.* 26:56 *🎯 Targeting initial markets effectively, even unconventional ones, can pave the way for scalability and success in AI startups.* Made with HARPA AI

The incumbent inertial drag exists in all large companies as a function of their structure, not just WS, even within the biggest so called ‘fast moving tech innovators’ such as G, and this inertial drag is why small and highly adaptive/pivotable startups can rapidly erode large incumbents from underneath.

1:55 it's "transition" not "transaction" 5:01 it's "minted" not "mined"

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12:35 is that really true ..? wow science is something

Sugar and heart operation people use it or not please

Pre-ordered mine last night!

Language is the human OS! like it...

inaudible

"Top 20 mistakes founders make when pitching?" (BOT): - I'm sorry, I don't have enough information on that topic.

Nicely produced, directed and highly informative. I enjoyed seeing new faces and ideas. Well done!

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Such an inspiration! Love NFX and everything you represent.

Cell reset. Yamanaka

When you show things like this using AI, it would be good to remind folks that you can't just steal the images to train your AI. Copyright applies.... At least until corporations figure out how to get around copyright laws to protect their wealth and steal whatever some person created. Stealing is only illegal when you steal from the rich. When they fail to pay you, that's not stealing because, rich, obviously. 🙄 Creation credit is irrelevant when it comes to making money. 😖🤦🏻I really hope the courts don't rule against creators, but, rich. 🤷🏻🙄

Does it matter how long people live if their quality of life is crap? Focus on something important.