MV #023: Trusting the Pope, the AI hype is real and where's the VC money?

You can't even trust the Pope anymore. AI and where's all the VC money gone?

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🧠 2 Learnings

• 🔗 Link: The AI race is being fought on three layers. Application, Platform and Infrastructure. The opportunity is huge in all three of them but some more than others. Great deck and talk by Tomasz Tunguz, Theory Ventures.

• 🔗 Link: Legalise it? AI, LLMs and generative AI in particular, are the latest hype for all companies. Every B2B software company announced some sort of ChatGPT or AI capability. But it doesn’t come without legal challenges including copyright, risk of spreading fake news and privacy.
  

  👉 My take: Reality is no more. It’s going to be hard to trust anything you see, hear or read. The challenges are so vast I can’t even grasp it.

  
  But the opportunity is huge too.
  
  As with any revolution, caution is advised. Just see what happened to the Pope. We don’t know what’s real and what isn’t even in this revolution's infancy.

Photo illustration by Dion Lee/Vox; pope image generated by Reddit user “u/trippy_art_special” on Midjourney; Background generated by Midjourney

chrissy teigen @chrissyteigen

I thought the pope’s puffer jacket was real and didnt give it a second thought. no way am I surviving the future of technology

Eddie Croesi @MajesticImpact

@chrissyteigen Not only did I not realize it was fake, I also saw a tweet from someone else saying it was AI and thought HE was joking.

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💎 3 News Gems

"We're not going to invest with anybody who didn't go to Harvard Business School."

• 🔗 Link: Great find by Dave Kellog on the start of Sequoia and venture investing back in the day. No funding unless you went to Harvard!

• 🔗 Link: The FT John Thronhill sparks a big debate with his opinion piece about European tech in the comments section.
  

• 🔗 Link: Has B2B software become too niche? Great take by

  Spencer Peterson
  .

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💡 7 Cool Insights for SaaS Leaders

• 🔗 Link: The market opportunity of AI is huge, according to researchers by OpenAI. “Our findings reveal that around 80% of the U.S. workforce could have at least 10% of their work tasks affected by the introduction of LLMs”
  

• 🔗 Link: Salesforce launched its Generative AI fund.

• 🔗 Link: AI is everywhere. But can discovery be automated? Hot debate.
  

• 🔗 Link: Hot take on the big war between Clari, Gong, Outreach & Salesloft.
  

• 🔗 Link: The journey from $1m to $100m with insights from Notion Capital.
  

• 🔗 Link: Should you cut your small customers? Hot take by Jason Lemkin.
  

• 🔗 Link: The difference between VC (Venture Capital) and PE (Private Equity)
  

• 🔗 Link: Why Sales make the big bucks and CSMs don’t by Kevin Chiu.

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🤯 3 Mindblow-Moments with Enterprise Tech

• 🔗 Link: Microsoft launched AI-powered Security Co-Pilot. This product will 10x the power of enterprise security teams working through incidents and issues.
  

• 🔗 Link: Italy bans ChatGPT - it’s not because of pineapple on pizza.
  

• 🔗 Link: The proportion of craziness in VC investing during 2021/2022 visualised by the FT. The money is gone. Gone back to normal.

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👋 Parting thoughts

“A recent JPMorgan survey found that 53% of traders believe AI will be the technology that holds the biggest influence on future trading. That figure is more than double the results of the same survey from a year ago.” 🔗 Source

The average age at which a founder starts a future unicorn is 33 years old. 🔗 Source

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