Founders Are Now Sending VCs a File Written for AI
Jason hosts VCs Jenny Fielding, Ben Lerer and D.A. Wallach on founders sending AI-readable company files, using AI to pick deals, the shift toward SPVs, and hype about AI curing disease.
The gist
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Fielding says her firm made its website friendly to AI agents a year ago, and she welcomes founders sending VCs company.md files instead of decks.
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Ben Lerer says AI gives strong deal analysis but weak verdicts, scoring deals 3, 4, 6 or 7 almost every time on his 1-to-9 scale.
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Fielding's firm is spinning out Jelly, a cheaper investor data tool, after finding PitchBook costs about $20,000 a seat, and its beta drew 1,000 signups.
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Fielding cites family offices putting 34% of VC commitments into SPVs, up from 9% in 2019, while emerging manager fund closes drop sharply.
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Wallach pushes back on Anthropic's Dario claiming diseases like cancer will vanish within a decade, though he still gives it a 1 to 5% chance.
Made by someone on this episode
Also mentioned
5:17
Cursor
· "Software companies with the pace of development right now, you can do something for six months, decide it's..."
8:21
Company.md markdown files
· "Founders are now sending them markdown files, company.md files, that they can open up with their LLM of..."
28:56
Harmonic
· "Then layer on things like Harmonic. I mean, these are all great products, but it gets to be quite expensive."
34:26
Slack
· "Even while Kevin goes and builds that, Slack continues to perform exquisitely well, is probably the best..."
37:30
Black Letter
· "We announced a deal yesterday in a category where there's going to be multiple players. It's an AI-first..."
40:32
Beezer Clarkson
· "She was at Sapphire for many years and has a fund of funds, and she's very active in kind of talking about..."
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