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

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?