How is AI changing venture market dynamics?

Itamar Novick

Founder & General Partner · Recursive Ventures

Expanding the pie, intensifying power‑law

Itamar Novick says AI is expanding the pie into previously untouched areas like cattle, while concentrating winners within each vertical and producing many lifestyle businesses.

The answer starts at 34:27.

Bill Ackman

Founder and Chief Executive Officer · Pershing Square Capital Management

Driving a funding frenzy

Bill Ackman says AI is driving a funding frenzy in venture, citing FOMO, lots of capital going into venture, competition and preempting that lead to very high valuations.

Andrea Hippeau

Partner · Lerer Hippeau

More competition, faster funding

Andrea Hippeau says AI increases competition and makes speed more important than anything, so she encourages companies to raise more earlier to double down when something works.

David Frankel

Managing Partner · Founder Collective

Everyone's AI

David Frankel says everyone's AI now, likening not being AI to not using the internet, so companies differ in their approaches but all use the most contemporary tools.

David Weisburd

Founder · Weisburd Capital

Lowering barriers to entry

David Weisburd says AI lowers the barrier to entry in venture, saying it is easier than ever to start a one-person firm solo and get leverage from AI for the other tasks that come with running a firm.

Rob Toews

Partner · Radical Ventures

Massive infrastructure investment

Rob Toews says the rise of AI is pulling venture toward massive physical infrastructure investment—data centers, energy, and the grid—which he calls the largest capital investment super cycle in history.