Srugo: Seed investing risk shifted from product value to competitive defensibility
Pablo Srugo · Q3 2025 w/Carta: What you need to raise a Series A. | Peter Walker, Head of Insights at Carta · PMF Show · Nov 27, 2025 · at 19:06
Pablo Srugo, venture investor and host of The Product Market Fit Show, explains how generative AI fundamentally altered early-stage seed due diligence.
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“Pre-gen AI, the biggest thing was as a seed stage investor, is this real value creation? Like, is this a nice to have versus a must have? That was the big question for most companies that came to pitch... These days, the reality is AI has put founders in a place where there are so many places to add insane value, no brainer stuff... The question has become what used to be secondary is competition. It was always a thing you check off and think about, but it wasn't the primary thing or the primary reason why a company wouldn't work out. Now competition has risen top because you got big tech, you got incumbents, you've got new entrants and you've got the foundation models.”
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