At the recent TechCrunch Disrupt conference, investors made little effort to conceal what currently excites them most within the technological and venture capital landscape: the boundless potential of artificial intelligence. Every conversation, from the main stage to the private lounges, seemed to orbit around AI, its transformative capabilities, and its increasingly central role in shaping both emerging startups and established enterprises.
Prominent venture capitalists such as Nina Achadjian from Index Ventures, Jerry Chen of Greylock Partners, and Peter Deng representing Felicis shared an open acknowledgment that artificial intelligence has become the reigning fascination in their industry. Their discussion explored not only the allure of this rapidly evolving technology but also the escalating difficulty for startups to distinguish themselves as the field becomes ever more congested. Achadjian emphasized that the market is advancing at an extraordinary pace, where companies are witnessing growth trajectories previously unimaginable, a reality that both excites and challenges entrepreneurs.
Achadjian elaborated on how her team dedicates an immense portion of its efforts to scrutinizing the individual behind each venture—the entrepreneur’s mindset, resilience, and adaptability amid constant change. She underscored that in an era defined by volatility and swift innovation, a founder’s ability to remain steadfast while maintaining vision is paramount. More than merely developing a product, founders must display an unwavering passion for their mission, a deep and demonstrable domain expertise, and a willingness to candidly evaluate whether their current product truly resonates with market needs. Such qualities, she maintained, are what separate visionary leaders from those who simply follow trends.
Expanding on this theme, Achadjian noted the current surge of enthusiasm among enterprise clients eager to deploy AI solutions in pursuit of efficiency and advancement. However, this enthusiasm can lead to misleading signs of success, what she described as “false positives” of product-market fit. In other words, early revenue figures might appear promising even when the customers are not achieving sustainable returns on their investment. Such circumstances, she warned, create illusions of traction that mask fundamental weaknesses in business models and product validation.
This discussion naturally transitioned into another critical factor that modern venture capitalists examine with increasing rigor: the company’s capacity to pivot. In dynamic markets where technologies mature in months rather than years, flexibility becomes a survival mechanism. Achadjian wryly observed that venture capital often jokes about the countless startups that vanish before finding product-market fit, a reminder that endurance, introspection, and reinvention are crucial attributes in the entrepreneurial journey.
Adding his perspective, Peter Deng, who formerly held a leadership role at OpenAI, elaborated on the data-driven dimension of competitive differentiation. He explained that new founders must identify and cultivate their own proprietary “data flywheels”—self-reinforcing systems that generate unique datasets or insights capable of giving them a lasting edge over countless rivals pursuing similar AI concepts. Deng emphasized that many enterprise clients simultaneously test multiple AI products in parallel, which makes it imperative for startups to deliver a level of depth, precision, and customization that others cannot replicate. True success, he argued, emerges when a product solves a crucial operational problem in a way clients could not feasibly implement internally. In such instances, skilled data management and intelligent optimization become not merely technical advantages, but strategic cornerstones for long-term differentiation.
Achadjian further advised that founders must articulate a compelling justification for their product’s independence—why it will not be easily absorbed as a mere feature by generalized foundational AI models. Even if entrepreneurs are uncertain whether large model developers may already be working on similar functionality, they should at least present a thoughtful hypothesis about their defensibility and competitive moat. Investors, she reminded, seek not just innovation for its own sake, but ventures capable of enduring once the initial excitement wanes.
From a market perspective, Jerry Chen summarized the state of AI applications presently gaining tangible traction: conversational chat tools, AI-assisted software development platforms, and advanced customer service automation. Yet, he was quick to recognize that these examples only represent the initial wave of what promises to be a much larger transformation. The integration of AI, Chen emphasized, is far from confined to any single sector; its influence is beginning to permeate nearly every industry, from manufacturing and logistics to healthcare and education.
As for what specific areas excite each investor, Deng expressed optimism about AI-enabled marketplaces that could intelligently connect supply and demand through predictive analytics and continuous learning. Achadjian highlighted robotics as a particularly promising frontier, arguing that the convergence of mechanical systems with adaptive AI could finally make automated labor both scalable and practical. Chen, on the other hand, voiced curiosity about how artificial intelligence will reshape software-as-a-service models and other verticals that have not yet felt its full disruptive impact.
Toward the end of the discussion, the panel briefly turned its attention to opportunities outside the direct realm of AI, though even these conversations seemed inevitably drawn back to automation. Achadjian observed that many traditional, labor-intensive industries still rely on outdated manual processes—tasks practically begging to be digitized. She cited the simple act of replacing pen-and-paper operations with digital systems as an enormous and largely untapped opportunity. Ironically, even these digitization efforts, she noted, could soon fall under the growing umbrella of AI, as automation finds ways to enhance and optimize virtually every stage of industrial and administrative activity.
Ultimately, the conversations at TechCrunch Disrupt painted a vivid portrait of an investment community fully captivated by artificial intelligence, yet acutely aware of the challenges that accompany its explosive growth. For founders, the message was clear: in a time of sweeping technological change, enduring success will depend not on chasing hype, but on demonstrating resilience, authenticity, and clarity of purpose in navigating an increasingly intelligent future.
Sourse: https://techcrunch.com/2025/12/19/where-are-investors-placing-their-bets-next-year-ai-ai-ai/
