20VC: Why The Future of AI Is Open Not Closed, Why We Are Years Away From AI Being Autonomous, Why AI Founders Do Not Need to Move to the Valley & Why Founders Should Not Meet Investors in Between Rounds with Clem Delangue @ Hugging Face

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

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

4.4 • 637 Ratings

🗓️ 12 May 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Clem Delangue is the Co-Founder and CEO @ Hugging Face, the AI community building the future. To date, Clem has raised over $160M from the likes of Sequoia, Coatue, Addition and Lux Capital to name a few. Prior to Hugging Face, Clem was in product and marketing at two different startups both of which were acquired.

In Today's Episode with Clem Delangue:

1. From Tamagotchi to Leading the World of AI:

How did a Tamagotchi startup turn into one of the hottest AI startups in the world?
What does Clem know now that he wishes he had known when he started?
What are Clem's biggest pieces of advice to founders on pivoting?

2. AI: Trend or Transformation:

To what extent does Clem believe the current hype in AI is justified?
What is overblown? What have been some true and groundbreaking developments?
How far away does Clem believe AGI is?
What is a massive misconception the public has that Clem wishes he could change?

3. Open vs Closed: Which Model Wins:

Why does Clem believe the future of AI will be won by open-source?
What is his reasoning to suggest closed is fundamentally a weaker model?
Does Clem acknowledge that in the short term, enterprises will buy from a closed model with greater ease? How does he plan to tackle this?

4. Regulation: What Happens Now:

What regulatory changes need to be made in the world of AI most urgently?
Is Elon Musk right to suggest the immediate pausing of developments in AI?
What does Clem believe to be the most likely scenario to AI regulation in the next 12 months?

5. Fundraising: Lessons and Reflection on Raising $160M:

Do AI startups fundamentally cost more money than normal startups to build?
Why does Clem not meet investors in between rounds?
What does Clem believe is the most helpful thing an investor can do?
What are Clem's spiciest takes on venture as a financing model?

Transcript

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0:00.0	The VC and the mainstream interest is like a catch up on the reality.
0:06.0	We're very far from a world where AI is autonomous and has conscience and is taking over the world and destroying humanity.
0:17.0	I don't talk to any external investors in between rounds.
0:21.3	Welcome back, 20 VC with me, Harry Stebbings,
0:23.8	and our series with the best founders and operators in AI continues.
0:27.5	On Monday, we have the one and only Jan Lacoon that is such a special show.
0:31.2	Wednesday we have Amad at Stability.
0:33.1	And today we're joined by Clem DeLang,
0:35.0	co-founder and CEO at Hugging Face,
0:37.2	the AI community building the future. To date, Clem DeLang, co-founder and CEO at Hugging Face, the AI community
0:38.2	building the future.
0:39.4	To date, Clem has raised over $160 million from the likes of Sequoia, Co2, Edition and
0:45.5	Lux Capital, to name a few.
0:47.1	And I want to say a huge thank you to Lee Fixel, Pat Grady, Brandon Reeves, and Tebow
0:51.3	Elsier.
0:52.3	Some amazing questions suggestions today. I really did so appreciate that.
0:56.1	But before we dive into the show, Steve, you've heard me talk about how Coda is the doc that brings it all
1:00.3	together and how it can help your team run smoother and be more efficient. I know this because Coda
1:04.9	helps me. I often have to scale my learning on a new space very quickly, so I speak to many people.
1:10.5	Then I need one central
1:11.7	location to bring all those notes together. My team then add to those notes and make amazing
1:16.5	additions. And by putting all the data in one centralized location, regardless of format,
	...

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