Over the past 100 years, the companies that have commercialized new technologies the most have tended to be startups, e.g., personal computers, integrated circuits, enterprise software, and e-commerce services were all predominantly commercialized by startups. Even in the fields that established companies commercialized products, it has often been the case that startups ended up becoming the dominant companies.
On the surface, artificial intelligence (AI) is following the same trend. A large number of AI startups were founded in the 2010s, and venture capital (VC) funding for AI startups set records in 2020 and 2021. This suggests that AI startups are doing quite well, and AI is also doing very well.
