Finding the Next Big AI Success with Kevin Novak

Welcome to another exciting episode of the AI Innovators Podcast! I'm your host, Rob May, and today we have a truly special guest joining us: Kevin Novak. Kevin is a former data scientist at Uber and now a venture capitalist with Rackhouse VC. In this episode, we dive deep into fascinating topics surrounding the transformative power of AI in early-stage businesses, the evolving landscape of data and infrastructure, and the nuances of AI investment strategies.Episode Highlights:Kevin delves into the shift from viewing data as a byproduct to recognizing its critical role in AI systems, and the implications of increasing AI demands on data centers and power capacity.We discuss the performance dynamics of large language models versus small, specialized AI models, and their future potential, including mobile integration.Kevin shares valuable insights into the unpredictable impacts of AI across various industries, the importance of continuous experimentation, and the concept of Harvard's "jagged frontier."We explore the strategic challenges and opportunities in AI-focused venture capital, Kevin's approach to early-stage investments, and the essential traits of successful startup teams.Kevin and I also touch upon the importance of deep customer relationships, managing AI’s operational complexities, and the evolving role of AI in enhancing current business metrics.Sponsored by Half Court Ventures and the Investing in AI newsletter, this episode promises to provide a wealth of knowledge for anyone interested in the cutting-edge developments in AI and their real-world applications. So, sit back, relax, and get ready to be inspired by the insights of Kevin Novak on the AI Innovators Podcast.Kevin Novak's(rackhouse.vc/)(Kevin's Linkedin)Rob's Links ( halfcourt.vc )( Rob AI Newsletter )01:00 - Determining genuine AI companies from buzzword claims.06:40 - Focus on fundamentals, proprietary data, experienced AI team.11:11 - Large language models grow with more resources.13:00 - Limitations challenge scaling large language models.16:52 - Balancing cost, profitability, and AI advancement challenges.20:52 - Companies often dictate customer roles, causing insecurity.22:44 - Adapting workflows to technology shifts drives success.26:23 - Diligence pays off despite emotional misalignment.29:27 - Invest globally, focus: complete businesses, max $2M.

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