Phoebe Liu is a Forbes reporter who writes about the world's richest people with a focus on tech and philanthropy and works on Forbes’ flagship Forbes 400 and World's Billionaires lists. Recently, she wrote about Sam Altman's investments, Elon Musk's billionaire investor confidant and the billionaires buying Hawaii land.
Walter Kortschak , who made his fortune from 40 years of technology bets, opens up about his investing failures and triumphs—and why it’s dangerous to get swept up in AI’s “mass hysteria.”illionaire venture capital ist Walter Kortschak is confident in his formula: “Investing is about duration and persistence.
Through them, Kortschak was an early investor in several now-public companies, including The Trade Desk, Lyft, Palantir, Robinhood and Twitter. Kortschak is also making AI bets, with stakes in OpenAI and Anthropic, among other companies. Turning to sectors, obviously everyone is focused on AI. It’s a bit of a gold rush now. So many use cases of work will be automated by AI and be driven by applications built on top of either closed foundation models like OpenAI or open-source models. Short term, investment results from AI disruptors may disappoint, but longer term the impact AI will have in virtually every industry is profound.
The other strategy is so-called “truffle hunting,” which involves a more deliberate and patient approach of identifying undervalued opportunities, in sectors where other investors aren’t looking. This strategy requires considerable expertise in the sector, so talking to founders, investors, and industry experts and canvassing the landscape is critical. Both strategies work. It just takes discipline not to get swept up in the mass hysteria of a sector.
Investor Venture Capital Summit Partners Walter Kortschak Jurassic Park Investing Investing Advice
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