Wagner: Overoptimism about internet safety led to a bad AI investment
Peter Wagner · Peter Wagner: 27 Years of Investing Lessons of Picking Founders, Price Discipline & Reserve | E1123 · 20VC with Harry Stebbings · Mar 6, 2024 · at 27:16
Peter Wagner is a Founding Partner at Wing Venture Capital. He candidly shares a recent investment failure involving an AI-powered trust and safety tool where willingness to spend was far more limited than he anticipated.
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“The willingness to spend was really actually concentrated, and at least now in a relatively small number of businesses, and I think the mistake was, like, I really wanted it to be true, like, and maybe, you know, because I would just love for the internet to be that kind of place, you know, with sort of better behaviors being reinforced, and, you know, kind of bad behaviors being reduced... I wanted to believe so much that I, maybe I allowed myself to sort of over, overlook, overlook some gaps.”
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