20VC: Why Machine Intelligence Will Eat The World Of Software with Roy Bahat, Head of Bloomberg Beta

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 13 April 2016

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Roy Bahat is the head of Bloomberg Beta, a new venture fund backed by Bloomberg L.P. Prior to Bloomberg, Roy was chairman of OUYA, a new kind of game console, where he was the first investor. Before that Roy spent five years leading News Corporation’s IGN Entertainment, an online media company with a monthly audience of 70 million people, a top 10 YouTube channel, and the leading website in its category in almost every market globally. Roy served on the board of Revision3 (acquired by Discovery) and was a board observer at Flixster (acquired by Warner Bros). Before joining News Corp., Roy was in the public sector in the office of New York City mayor Michael Bloomberg and at New York’s 2012 Olympic bid.

In Today's Episode You Will Learn:

1.) How Roy made his way into the world of VC from working alongside Mayor Michael Bloomberg?

2.) What do all these definitions within AI mean? What does artificial intelligence include? What is machine learning? What is deep learning?

3.) When we talk about AI are we talking pure AI , with the likes of Watson and DeepMind or are we talking consumer centric software with elements of AI?

4.) With data playing such a huge role in the efficiency of AI, do large incumbents like Google and Facebook not have a massive advantage? How can startups get access to datasets? Is AI not fundamentally an acquihire industry?

5.) How important has open source in allowing and encouraging the progression of the machine intelligence ecosystem? What more can be done to further it's growth?

6.) With the rise of machine intelligence, what does the future of work look like? How will we live in a world where 47% of white collar jobs will be replaced by machines and AI?

Items Mentioned In Today's Episode:

Roy's Fave Book:

Watershed Down

Roy's Fave Blog or Newsletter:

Media ReDefined by Jason Hirschhorn, Asim Azar, the exponential view

As always you can follow The Twenty Minute VC, Harry and Roy on Twitter here!

If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here!

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Transcript

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0:00.0	Welcome back to the 20 minute VC with your host Harry Stebbings, or you can add me on Snapchat
0:05.4	at H. Stebbings. That way, when new guests come on the show, you can have your input and suggest
0:10.7	questions for the guests to answer. Now, today's guest, I'm super excited to welcome. Joining me
0:15.9	today is Roy Bahat, head of Bloomberg Beta, a new venture fund backed by Bloomberg LP. And prior to leading
0:23.5	Bloomberg beta, Roy was the chairman and first investor at the Games console company, Uya,
0:29.0	which received investment from the likes of Kleiner Perkins and Alibaba, before being acquired by
0:34.0	Razor. And before that, Roy spent five years leading news corporations IGN entertainment,
0:39.6	an online media company with a monthly audience of 70 million people, a top 10 YouTube channel
0:45.5	and the leading website in its category in almost every market globally. And Roy also served on the
0:51.1	board of Revision 3, acquired by by Discovery and was a board observer at
0:55.1	Flickster acquired by Warner Brothers. If that was enough, before joining News Corp, Roy was also in the
1:01.0	public sector office of New York City Mayor Michael Bloomberg and at New York's 2012 Olympic bid.
1:07.6	However, before we dive into the show with Roy today, the 20-minute VC is brought to you by
1:12.1	Lisa. Lisa are like the Tom's and Warby Parker of the mattress industry. Why? Well, having created
1:18.0	an awesome online end-to-end mattress buying experience, replacing the worst ever experience,
1:23.1	let's be honest, of buying and testing a mattress in the showroom. That still is not enough for them,
1:28.3	as they like to give back, which is why for every 10 mattresses, Lisa sells, they donate one to a
1:33.7	shelter. These mattresses are also not just any mattresses. They're engineered with three unique
1:38.8	layers, including two inches of memory foam and two inches of latex light foam designed to keep you cool. Not only are they
1:46.0	engineered to profession, but all Lisa matches are made in the UK and US and can be shipped for free
1:51.8	to the US, UK and Canada. They also have a 100-night trial, so what is the risk? Head over to
1:58.4	Lisa.com forward slash VC and enter the promo code VC75 at checkout
	...

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