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Axios
Axios
Business

Calling AI a "bubble" misses its capacity for change, investors say

Clem Delangue LLM Roelof Botha

AI is far too transformative for society — and disruptive to legacy industries — to fixate on a near-term bubble, some of the world's top private investors said at Axios BFD on Tuesday.

The big picture: Financial markets may be nervous now. But the people who invest billions for the long term believe in what they're seeing.

  • "I was in Silicon Valley in '98, '99. I saw what happened with the dotcom era. I saw what happened with mobile, saw what happened with cloud computing. This surpasses all of them and more," said Sequoia Capital partner Roelof Botha, one of the world's top venture capitalists.
  • "You have so many industries that are relatively ossified and ripe for disruption," Botha said. "And AI isn't just a new distribution mechanism or a new interface. It is fundamentally a set of capabilities that can upend industries."
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