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What Made Menlo Ventures Bet on Anthropic?
- AI startup Anthropic, founded in 2021 by former OpenAI employees, raised $3.5 billion, valued at $61.5 billion.
- Menlo Ventures invested in Anthropic because of the potential for huge growth, similar to OpenAI.
- AI startups are securing significant funding despite lack of tangible products, like Safe Superintelligence.
- VCs are inclined towards ventures founded by ex-OpenAI, Anthropic, or DeepMind employees.
- Investing in former lab employees is based on belief in their ability to innovate.
- Menlo Ventures sees challenges in AI innovation in India compared to Western labs.
- Localized AI models supporting Indian languages are seen as a viable focus for India's AI ecosystem.
- Despite advancements, AI labs like Anthropic still hire engineers for complex tasks not yet automatable.
- Venture capitalists believe AI can automate certain tasks but not human collaboration.
- Menlo Ventures and Anthropic launched the Anthology Fund to support startups using Anthropic's technology.
- Wrapper AI companies must offer unique value to succeed, as per Das.
- Success in AI startups may not require large teams, with examples like Cursor and Midjourney.
- The future of billion-dollar startups could involve one-person operations with AI and cloud-based solutions.
- While lean teams work for AI startups, some industries still rely on larger workforces, like enterprise SaaS.
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