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Another VC Bubble? And how the tech rally is all Apple & Microsoft 3/24/23

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.566 Ratings

🗓️ 24 March 2023

⏱️ 4 minutes

🧾️ Download transcript

Summary

Is there a bubble already brewing in VC? A billion dollar valuation for a pre-revenue AI company, backed by Andreessen Horowitz. Or maybe, this time it's different... And how the rally in tech stocks is all Apple and Microsoft, and maybe a bit of Nvidia too. What does that concentration signal.

Transcript

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0:00.0

Morning, Serrendam. So after a big week of announcements from the biggest tech companies in AI,

0:04.8

we thought we'd take a look under the surface at the private market.

0:08.1

And despite this overall malaise that we've seen, especially in the wake of Silicon

0:11.7

Valley Bank AI funding it is just

0:13.6

booming chat about unicorns they are being birthed almost by the day it feels

0:17.1

like there's now dozens according to CB insights the latest I want to mention

0:21.2

character AI character dot AI this is a 16 month The latest I want to mention, Character AI, Character.

0:23.3

A.I.

0:24.0

This is a 16 month old startup with no revenue.

0:27.0

It just raised $150 million from Andresen Horowitz

0:30.0

at a billion dollar valuation.

0:31.9

I was playing around with it this morning guys and I can only

0:34.2

really describe it as cameo for AI. Let's users create or interact with chatbots that

0:39.1

role play as characters or famous people. I asked chatbot Mark Zuckerberg how he thought the

0:43.6

Tik-Toc hearing went yesterday.

0:45.1

Informative, he replied. I now have a greater appreciation for Facebook,

0:49.1

safety and moderation methods. Same question to Elon Musk. Response, I think they should ban Tik,

0:54.1

talk, Instagram, and Facebook.

0:55.3

There's no good use for social media.

0:57.0

I'd shut it all down if I had control.

0:59.1

Okay, kind of amusing, but maybe like cameo, a gimmick. and the conversations that I have with

1:04.0

VCs guys everyone yes is excited about this as the next big platform shift and they

...

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