People have mentioned they back "founders not ideas". Which is a great tag line, and also not 100% true, but true enough. The other side is they like to fund i

People have mentioned they back "founders not ideas". Which is a great tag line, and also not 100% true, but true enough. The other side is they like to fund in area's that have a strong why now. One great answer to that is "Because it wasnt possible to build this X years ago" in other words they like to fund companies that are taking advantage of a new technical property, regulatory change, or cultural change. AI hits 2/3 of those. Now you can say "AI slop all you want" just like you can say "Crypto is a scam" but its a statement that ignores there has been profitable and viable new ventures built on top of these new compute properties. TLDR: technological change is the basis of how VC's make money.