Anecdotal: 5 of my 2022 angel investments have pivoted from crypto to AI in the last 2 months. No judgement, just a telltale sign of crypto winter.
Did they have prior ML experience? Or GPT wrappers?
entreprenoooors: (tweeting the NPC brain-chip replacement Current Thing meme) also entreprenoooors:
Seeing similar patterns amongst friends. One of my 22 investments has pivoted to Ai.
it may be warm on warpcast, but it's quite cold out there.
Similar. Made 3 crypto angel investments last year. 1 has pivoted to AI, 1 returned capital to investors (0.95x) and closed their doors, and 1 is chugging along in crypto.
With this in mind, how many other crypto investments do you think will likely pivot to a. i before year end, and how many do you see re-evaluating their runway but staying the course?
They just fomoing into AI because they can't wait until the next bull cycle arrives. They will come back to crypto.
Are there any projects that combine crypto (web3) with ai? Hmmmmm….
5 out of 2022, that’s bullish for crypto
Love it love it, time to build fast and get ahead
I‘d be furious if my investments pivoted to another vertical.
Tell them to pivot to building on Farcaster
The interesting part is how you feel about those pivots and convictions 👀
How many have pivoted to Waste Management and Waste Management Consulting? Extremely steady cash flows cc: @phil
If you are willing to share, what % of crypto companies you invested in 2022 is that? i.e. did 40% move, 5% etc?
How bullish do you remain in these companies? It's a bit of a red flag, isn't it?
Anti-sign: we are all-in on crypto and getting closer to profitability, growing quite fast, etc. Prob going to do some AI stuff to scale/reduce delivery costs, though.
Feeling this for sure, lots of folks in my network want to stay in the industry full-time, but it seems funding is drying up across the board.
