20VC: Benchmark's Sarah Tavel on Are Foundation Models Commoditising | Why Frontier Models Will Be Closed Source | Why the Value is in the Application Layer | The Future of AI is "Selling the Work" Not the Tools
This podcast episode explores the importance of the "why now" question in venture capital and the disruptive opportunities presented by AI. It highlights the challenges and potential of AI-enabled work and the evolving landscape of the AI industry. The conversation also touches on the changing mental model of investing in AI and the complexities of network effects and market dynamics. The speaker emphasizes the significance of strong partnerships, founder commitment, and board membership in building successful companies. Additionally, the section discusses the challenges faced by investors when trying to win deals and the perspectives on reserves and pro rata rights. Overall, the episode delves into the intricacies of venture capital and provides insights into the considerations and opportunities in the AI industry.
