Artificial intelligence is certainly affecting everything we do. And much of that innovation with AI comes from venture funding. So it's no surprise that one day, someone would think of mixing these two things.
Meet The AIVC, the online portal for an artificial intelligence-powered venture capital firm. It, in its own words, is "The world’s first Venture Capital fund powered entirely by Artificial Intelligence.”
According to the site, The AIVC is 100% data driven. It uses historical data and advanced predictive algorithms to make investment decisions, much like a normal VC would. It supposedly includes insight into every venture capital deal ever done, updated in real-time.
Stepping into the platform, one gets asked questions normal for a pitch, albeit in a snarky, rude kind of way. “What is the highly differentiated, uniquely memorable and mildly ridiculous name you’ve given your company?” and “Is your product for irrational human beings or evil, monolithic corporates?” are just some of the questions it poses to pitchers.
Oh, and it has advanced Unicorn Identification Capabilities.
Jokes on us
If the above sentences have not clued you in or you don't want to check out their website, we need to clue you in on a little secret: the whole thing is a joke. But like most jokes, the thing is half-meant.
The whole website is tongue in cheek humor– a wry and funny look at the world of AI: start-ups and fundraising.
In a statement by its anonymous creators, they said:
We believe our world is too heavily influenced by investor discussion that aims to be independent and analytical, but is actually driven by not wanting to miss out on “hot” companies and by pattern recognition; and populated by founders overly focused on “winning” investment instead of building great companies.
We’re not overly idealistic – investors are necessary and hugely enable innovation, and getting founders to be thoughtful about taking money is simply good company building. We’re hoping The AIVC will start an organic conversation about these issues.