One of the world’s largest venture capital firms says investors are underestimating the carnage artificial intelligence will create for software companies, warning their pivots towards AI are likely just marketing.
Lightspeed Venture Partners partner Isaac Kim said software investors were changing their narratives to justify support for companies clearly being disrupted by sophisticated AI tools. He said his firm, which oversees a portfolio worth about $70 billion, was now shunning traditional software businesses in funding rounds.
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