TLDR:
• The author previously believed that the AI venture capital frenzy had reached its peak.
• However, after meeting with venture capitalists, the author realizes that the hype for artificial intelligence is still going strong.
Title: I Was Wrong. We Haven’t Reached Peak AI Frenzy.
After Sam Altman’s sudden firing last year, the author believed that the chaos would inject caution into investments in AI companies. However, the author later realized that the hype for AI was still strong.
Investors were becoming more cautious about valuation negotiations and governance questions for AI startups. Some companies were even considering selling themselves due to the high costs of developing AI software. The AI-powered writing tool Jasper also faced setbacks, which were seen as an indication of the fading hype for generative AI.
However, the author realized that Silicon Valley suffers from short-term memory loss. After a week of discussions with venture capitalists, the author realized that the AI frenzy was far from over.
Key Elements:
- The author previously believed that the AI venture capital frenzy had peaked.
- Investors were becoming more cautious about AI valuation negotiations and governance questions.
- Some companies were considering selling themselves due to high AI development costs.
- Jasper, an AI-powered writing tool, faced setbacks, indicating fading hype for generative AI.
- The author realized that the AI frenzy was still going strong after discussions with venture capitalists.