Where are the AI startups? Are they actually coming or will chat GPT gobble at all?

We'll talk about it with Rick Heitzman, a first Mark Capital right after this.

Capital One's tech team isn't just talking about multi-agentic AI. They already deployed one.

It's called chat concierge and it's simplifying car shopping. Using self-reflection and layered reasoning with

live API checks, it doesn't just help buyers find a car they love. It helps schedule a test

drive, get pre-approved for financing, and estimate trade and value. Advanced, intuitive, and

deployed. That's how they stack. That's technology at Capital One.

Welcome to Big Technology podcast, a show for cool-headed and nuanced conversation of the tech world

and beyond. Well, something we've been wondering on the show is, where are all the individual

AI startups? We know, of course, about ChatGipT and Claude and the big chatbots,

but why hasn't there been a wave of individual startups building on top of generative AI

that has emerged alongside this wave? And we have the perfect person to speak with us about this today

because Rick Heitzman is here. He is the managing partner and founder of First Mark Capital and he is here with us in studio today to talk all about it. Rick, welcome to the show. Thank you. Thank you for having me, a long time listener, first time guest, so it's always exciting. It's great to have you here. I love running into you before we're about to go on CNBC. Usually one of us is right before, right after.

So today we actually have some time to speak with each other one-on-one.

I'm usually your opening act.

Or the other way around. So let's go to the big question, right? Which we started with here.

If you believe that generative AI is a transformative technology or at least has the ability

to make some waves in the

tech world, which I think is basically consensus in this world. Where are all the AI startups? Of course,

you have some point solutions like Harvey, which is really good for lawyers. But if you took the

functionality that's baked within generative AI and you sort of unleashed it to all these startup developers

without chat GPT, my guess is we would see a swarm of AI startups, something that you could use

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