Hi there,
Sometimes, you see a trivial or stupid app getting funded.
And you think “WTF?”
That, however, is a feature and not a bug of the American system.
Jeff Bezos, at the NYT DealBook Summit, articulated it well (paraphrased):
“The key reason why the USA has so much entrepreneurial success is that the country has the best risk capital, where founders can raise $50M of seed capital to do something that has only a 10% chance of working.”
This is why the USA’s entrepreneurial success so dramatically beats the rest of the world.
This spurs people to think of wild ideas, and although most will fail, occasionally one hits and becomes a ginormous company.
Track where the next big idea (and some silly ones) are with our fresh State of Venture report.
Leaving it all on the field
Back by popular demand: big tech’s overlapping genAI startup investments.
Since we last published this graphic in December 2023, 8 more companies have joined the table.
Amazon, Google, and Nvidia in particular have ramped up their overall AI dealmaking in the last year.
The investments indicate the strategic importance big tech is placing on the emerging genAI landscape.
Look at the Nvidia column. It’s investing in everyone.