Fushman also noted that unlike during the mobile phone revolution, companies in the AI space are unlikely to get distribution for free unless they have a product that is highly popular. He emphasized that AI requires distribution and data to enhance the product experience. The comments come as tech companies, including Meta, continue to heavily invest in AI. Meta's CEO, Mark Zuckerberg, recently expressed optimism that the company's AI investments will yield long-term benefits.
Key takeaways:
- Mamoon Hamid and Ilya Fushman from venture capital firm Kleiner Perkins revealed that over 80% of investment pitches they receive are related to AI.
- Fushman emphasized that the AI companies they back are those that are tackling significant problems and have the potential to dominate a particular space.
- Unlike during the mobile phone revolution, AI companies are unlikely to get distribution for free unless they have a highly popular product. AI requires distribution and data to enhance the product experience.
- Tech companies, including Meta, are heavily investing in AI, with CEO Mark Zuckerberg expressing optimism that their AI investments will yield long-term benefits.