Tom Blomfield: AI applications are 80-90% traditional software and 10% AI
Tom Blomfield · Sam Altman, Arthur Mensch and more discuss:Which Startups Are Threatened vs Enabled by OpenAI?|E1156 · 20VC with Harry Stebbings · May 24, 2024 · at 15:08
Tom Blomfield, Group Partner at Y Combinator, breaks down the structural reality of modern AI application startups.
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“Most people building application layer stuff in an AI say it's 80 to 90% traditional software with 10% AI.”
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“I really don't think it's a work ethic question at all. I think there are other big differences. I think the big difference is one of, like, positivity, optimism, and ambition.”
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“Probably SoftBank. I had a very unpleasant experience with the SoftBank London team. Just a bunch of pretty arrogant, like, Deutsche Bank traders turned venture capital investors. They were not fun at all.”
Blomfield: Sam Altman was distracted at YC by OpenAI from early on
“And then really, honestly, under Sam Altman, I think it expanded in a bunch of different weird areas, and it just lacked strong, and Sam was distracted. He was doing OpenAI from very, very early on.”
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“And I had 96 no's in a row for that fundraise to try and do a flat round.”
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“N-twenty-six has failed, Revolut's failed, Monzo's, the first go's failed”
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“I don't think so. I mean, it helps, it makes your life more fun, but there are people who are just like a little bit scary, you know, it's like they're a little bit arrogant, perhaps a little bit obnoxious, a little bit too sure of themselves, and I wouldn't w…”