Moritz Baier-Lentz 🎮

I’m thoughtful about the impact that the dissolution of OpenAI’s risk and ethics team led by Ilya Sutskever and Jan Leike might have on the direction of the company’s tech & product development. And - this strengthens my resolve to earn a Masters of Data Science & AI degree over the next 18 months, weighted toward the deeply important conversation around building tech within a framework of ethics, equity and risk mitigation. We must find an equilibrium that balances the raw speed of AI innovation with intentionality. Can’t wait to get started! OpenAI #ai #BuildWithIntention #venturestudios #vc

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I am honored to host Nolan Bushnell for a fireside chat at TechCon SoCal 2024 in San Diego on May 24th. We'll discuss how his innovations at Atari laid the groundwork for today's tech landscape and what lessons we can draw for the future. 🌟 Why Nolan Bushnell is a Must-Hear for Every Tech Enthusiast🌟 🕹️ Pioneering the Video Game Industry: Bushnell's creation of Atari and the iconic game Pong marked the beginning of the video game era, democratizing technology through entertainment. By democratizing technology through entertainment, Bushnell made electronics and computing accessible, inspiring a generation and catalyzing the tech ecosystem. 👔 Redefining Startup Culture: Bushnell invented a new breed of Silicon Valley entrepreneurs: visionary, bold, and nonconformist. His management style and the work environment he fostered at Atari—including laid-back elements like beer and ping pong—helped set a template for Silicon Valley's informal and innovative corporate culture, influencing giants like Google and Facebook. 🌱 Innovating Venture Capital: Bushnell became a crucial pivot in VC history by becoming the first example of how new business models over technology advancement become VC "fundable". Sequoia Capital's first seed investment concept in Atari demonstrated the profitability of supporting early-stage consumer tech businesses. It broadened VC horizons to include software and entertainment, impacting how venture capital operates today. 🚀 Driving Silicon Valley's Evolution: The Foundation of Silicon Valley was Arthur Rock funding Fairchild Semiconductor & Intel, establishing the semiconductor industry, and putting the silicon in Silicon Valley. The expansion phase was Don Valentine's investment in Atari, expanding the focus from hardware to software and entertainment, creating the video game industry, and expanding Silicon Valley's tech ecosystem. Bushnell's role enabled the Transformation Phase of Silicon with the 1980 IPOs of Apple and Genentech, showcasing SV's innovation breadth across multiple sectors. 🔗 Enabling Icons: Bushnell provided Steve Jobs, who did not have a college degree, with his first job inspiration for the idea of bringing computers to home users, invaluable introductions and opportunities, and influenced the birth of Apple. 🎮 Inspiring Future Innovators: By integrating fun into computer use, Bushnell likely accelerated technological innovation by making computing appealing to those who might not have otherwise engaged with it. His work at Atari made the daunting world of computers relatable and exciting, inspiring many future founders and technologists. Nolan's influence is evident in the increased computer literacy and the surge in tech-driven career interests among the youth of his time. Connect with over 80 early-stage investors and hundreds of founders from San Diego, the Bay Area, Austin, Denver, and New York. Explore more about the event at https://lnkd.in/gTYMN65n

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Such a great conversation here on AI & Defense. Also great discussion on where entrepreneurial talent sits. https://lnkd.in/gUFy4bui

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🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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"Rebellion looks beyond conventional AI systems." This is a well-written article by Venture Capital Journal (by David Bogoslaw) about our Rebellion Ventures announcement last week. It reviews artificial super capability (ASC) and our debut fund focused on autonomous operations and AI agents, leveraging a community of 70+ unicorn founders, operators, and industry experts in AI and automation. Check out VCJ's article below - worth taking a look. https://lnkd.in/g6HDmZ8P

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Good summary in Barron's today. It’s all about AI, which might just be the most important technology trend since the discovery of electricity. Or the airplane. Or frozen yogurt. Duh!!! 01. The clouds are thickening (with data being the new oil !!!) 02. Hardware (not software) is eating the world (for now) 03. Software awaits the payoff (but where the puck will move) 04. Everything else is meh 🫤 Best time to be alive in the tech space !!! #AIDecade #InvestorDecade

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An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

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Introducing Stephan Little, a pioneer in entrepreneurship, investment, and mergers and acquisitions, who will be joining the AI Panel at the California Investment Forum in Anaheim, CA, on May 8-11. Steve's journey as a serial entrepreneur began at a young age, and he has since scaled six startups to private nine-figure acquisitions and raised over $2 billion in startup and growth funding for businesses across various industries. As the founder and managing director of Zero Limits Ventures and Zero Limits Capital, Steve has become renowned for generating accelerated value growth and delivering extraordinary acquisition value multiples for his portfolio companies and clients. With a keen eye for unique opportunities and a track record of identifying untapped potential, Steve has mastered the art of spotting valuation growth where others may not. In this introduction video, Steve highlighted the transformative power of AI in three distinct areas. Firstly, he touched on the creation and development of AI and generative tools, which are reshaping industries. Secondly, he delved into AI's practical applications within enterprises, emphasizing how integrating AI can dramatically enhance productivity and growth, ultimately increasing value for entrepreneurs. The third area Steve discussed was the middle ground of AI implementation, which presents an exciting opportunity for companies lacking in-house expertise. This gap in the market suggests a burgeoning demand for external AI knowledge and solutions, which can rapidly propel a company forward. AI is accelerating at an extraordinary pace and significantly impacting market dynamics. As an "older statesman" in the tech world, Steve expressed his excitement about being part of this "big bubble" of innovation. Join us at the California Investment Forum to hear Steve's insights and expertise on AI deployment, bridging the gap between generic AI models and task-specific enterprise applications. Learn how we can harness the power of AI to drive competitiveness, efficiency, and growth, improve productivity, and enhance business values in the next decade. Don't miss this opportunity to learn from one of the industry's most respected visionaries and game-changers. #AI #CIF Daniel Sieu Darlene Bryant (Chiu)

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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I just published a new op-ed on VentureBeat about the dangers of California's Senate Bill 1047 for the state's AI industry. 🚨 This bill claims to promote "safe and secure" AI innovation, but it would actually crush AI startups under a mountain of vague regulations and government overreach. SB 1047 would let unaccountable bureaucrats arbitrarily ban AI capabilities, force companies to put "kill switches" in their systems, and impose huge compliance burdens that only Big Tech could afford. If it passes, California's vibrant AI ecosystem could be in jeopardy. Startups and researchers might flee to states with more innovation-friendly policies. We need targeted rules to prevent real abuses around privacy, data rights, and IP - not clumsy regulations written by people who don't fully grasp the technology. California has a choice: lead the AI revolution or regulate ourselves into irrelevance. I believe in a future where responsible innovation thrives! 🚀 Check out my article to see why we need to stop SB 1047 before it's too late. Then contact your state representatives and encourage them to vote NO on this potentially harmful bill. Let's ensure California remains the best place to build the future, not a bureaucratic graveyard for groundbreaking ideas. I'd love to hear your thoughts on this important issue! If you care about the future of AI innovation in California, please share! #SB1047 #AIregulation #CaliforniaAI #innovation #VentureBeat #AI

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In the last year, VCs have poured billions of dollars into #generativeAI technology. Obviously, many have been wondering how big of an economic #disruption this will leave on our industry in the long run. This article from PitchBook is mostly speculative, but it’s asking a bold question — with the development of #AI, is this the end of #VC funding as we know it? James Currier, founder of NFX has once stated that we are in “the final 10 years of venture capital as we have come to know it.” As technological efficency rises, it will shake up the structure of our industry and reduce the amount of people working in VC. I understand where the concern comes from, but I also echo the sentiment from Leah Hodgson’s article. There’s a strong human element that is still needed in VC funding, and at least in near future, AI cannot replace the valuable insight and intuition humans offer, especially in the earlier stage of #seed funding. #AI will certainly help us make better, informed decisions — but it’s about co-existing the technology and using it as a #tool, not a substitute for workers. Hamza Farooq

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The Information has breaking news about CoreWeave securing a whopping $7.5B in debt and equity from Coatue, Blackstone with "logistical," support from NVIDIA guaranteeing a pipeline of #H100 graphics cards. This is impressive and should send a solid shot across the bow of Oracle Cloud given CoreWeave is on track to grow larger than Oracle Cloud. While the numbers are eyepopping that interesting aspect is that the NVIDIA #H100's are the "asset," to secure the loan implying that their value could not only holds post sale, which is unique for an #ITAsset, but are expected to do so for the foreseeable future. What do you think? #management #venturecapital #privateequity #capitalmarkets #datacenters #AIfunding #cloudcomputing

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Vinod's thoughts on AI: Key Takeaway 1: The impact of AI on various industries is expected to be highly deflationary. As AI automates many tasks and reduces labor costs, prices for goods and services are likely to decrease significantly across sectors like healthcare, content creation, and professional services. Key Takeaway 2: There are still opportunities for AI startups, particularly in niche applications and specialized domains. While large language models may become commoditized, there is potential for domain-specific AI solutions that integrate workflow knowledge and industry expertise. Key Takeaway 3: The cost of using AI models is expected to decrease dramatically in the near future due to competition between major players. This will likely make AI more accessible and ubiquitous, though training costs remain high. Key Takeaway 4: Apple's recent AI announcements demonstrate the company's ability to integrate technology, platforms, and products. This positions Apple well to bring small on-device AI models to consumers and developers at scale. Key Takeaway 5: The upcoming U.S. presidential election has significant implications for the tech industry and AI development. There are differing views in Silicon Valley on regulation and policy approaches, with some favoring less regulation while others are concerned about ethical issues. https://lnkd.in/gG9hSuUy

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This weeks episode was excellent. NIA. https://lnkd.in/dCXpNZxe

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Coming soon on Aug 1: "Transformation to a Fresh Tomorrow." This is theme of our 3rd Annual Web3 Investor Day, as we welcome the innovators and investors convening in Chicago for these discussions around the next generation Internet. Our theme reflects the optimism, determination and commitment investors and innovators have solidified off the depths of the bear markets to drive success in the bull markets. Broader investor optimism suggests that fresh institutional funds into Web3 across both tokens and equity may endure.  Across adoption metrics, customer interest and developer activity, Web3 seems to have normalized. It’s refreshing to see the transformation and next evolution of Web3 and it’s refreshing to meet many of you on August 1.  And yet, even with the improved optimism from last year, there still remain open questions in the development and adoption of our next generation Internet:  1. the balance of speculative versus productive investor capital in this current cycle 2. the productive role of liquid trading capital in fostering Web3 innovation 3. the attractiveness of venture investments in follow on financings 4. the role of policy and regulation that may enhance innovation 5. the continued developer activity to improve the underlying infrastructure 6. other Web3 recovery characteristics in target customer use cases. We remain committed to navigating regulatory shifts, fostering investor optimism, and building the customer use cases for Web3.  Physical spaces enhance our innovation conversations.  In person relationships foster our collaboration.  Relationships drive breakthrough innovations.  Reach out to Rizza Torres at Decasonic if you would like to join us! #web3investorday #web3 #venturecapital

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Excited to publicly announce today that Rebellion Ventures emerges to build the future of AI super capability, generating 10-100x productivity gains. We've been partnering with entrepreneurs for some time and oversubscribed and closed our debut fund but haven't publicly disclosed it until now. We announced today our inaugural fund, which is dedicated to partnering with entrepreneurs to build what we coined the era of artificial super capability (ASC) through autonomous operations and AI agents that have the power to revolutionize business models and unleash the greatest productivity boost in human history. We foresee the shift from passive, intelligence-focused AI to action-oriented artificial super capability that drives business outcomes autonomously. In the real world, it is the context-specific ability to act that delivers results, rather than general intelligence. AI capabilities will evolve to be superior to humans in areas such as speed, cost, and accuracy. This shift will create an era of artificial super capability (ASC), with the potential to increase productivity by 10-100x. We see the emergence of a diverse AI workforce across industries, including AI workers, digital humans, autopilots, and autonomous agents. These will continuously learn, observe, think, and act 24/7 to proactively achieve business goals and elevate human work. Through the fund's companies, we target to collectively create at least $100 billion in annual productivity value for customers by 2030 based on initial ROI metrics. Our fund brings an operating track record of building companies to multi-billion dollar IPO and M&A exits and an advisor network of over 70 unicorn founders, operating executives, and industry experts in AI and automation who are LPs in the fund. We'll provide access to industry relationships, operating playbooks, and critical expertise that entrepreneurs need to build and scale disruptive startups. Our fund has thus far partnered with 12 pre-seed/seed startups creating or enabling autonomous operations and AI agents in areas such as engineering, sales, financial services, insurance, and healthcare (over half of these have already raised more capital at higher valuations). We'll partner with 25+ additional startups over the next 18 months. Recognizing our responsibility in this new era, we seek to be a force for good by elevating human work, committing to ethical practices in AI and automation, and contributing positively to societal and economic development (including pledging 1% of our profits to give back to the community). More details are in the announcement below. https://lnkd.in/gBbnAr3p

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AI meets Robotics. Daniela Rus, of MIT fame, dives into the convergence of AI and Robotics in everyday life at TED. This rise of “physical intelligence” will enable AI to operate beyond the digital confines and engage dynamically in the real world. #AIDecade #TED2024

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If you’re following the current AI debates in California, you’ve likely come across the state's efforts to influence the future of AI through new legislation. It might be tempting to view this as a problem confined to California, but there are broader implications for everyone. This legislation could threaten America’s economic stability and global leadership in AI and could set a precedent that other states could follow. Despite some revisions to SB 1047 since its introduction, major concerns remain. Abundance Institute plans to release the attached letter when the California Legislature reconvenes after its summer break—everyone with an interest in continued progress and leadership on AI should be watching closely. Cc: Christopher Koopman

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This is a very useful and interesting compendium of the most recent understandings around AI training, written for the layperson.

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