What Makes a Successful AI Company? - A Venture Capitalist's Perspective
If one wants to start a general search engine, they're going to have to compete with Google. If one wants to start a general eCommerce platform, they'll have to compete with Amazon. But the same dynamics play out on a smaller scale. There are going to be some established players, some big tech giant, be it IBM or someone else, who already has a product.
When it comes to getting a new AI product out to market, how does one compete with the big guys?
This week's guest is Mike Edelhart, who runs Social Starts and Joyance Partners, seed stage investment firms out in the Bay Area. Edelhart has invested in a number of companies, and in this episode, we get his perspective on not only the patterns among successful AI startups and where AI plays a role in their competitive strategy, but what a "land and expand" strategy looks like for a new product that already has larger and more established competitors.