Comment by mvkel

The current VC climate is interesting. It's virtually impossible to raise a new fund because DPI has been 0% for over a decade and four-digit IRR is cool, but illiquid.

So they're piling gobs of capital into an "AI" company with four customers with the hope that it is the one that becomes the home run (they know it won't, but LPs give you money to deploy it!)

It also means that companies like Yann's potential new one have the best chance in history of being funded, and that's a great thing.

P.S. all VCs outside the top-10 lose against the S&P. While I love that dumb capital is being injected into big, risky bets, surely the other shoe will drop at some point. Or is this just wealth redistribution with extra steps?