E39: Navigating the AI Supercycle with Will Summerlin of Autopilot

"Turpentine VC" | Venture Capital and Investing

In this episode of Turpentine VC, Erik Torenberg interviews Will Summerlin, managing partner at Autopilot, a VC firm investing in companies that use AI to automate industries. Prior to co-founding Autopilot, Will was an investor at ARK. Erik and WIll discuss where to find alpha when investing in AI, the competitive edge of incumbents versus startups, and investment strategies tailored to AI's potential.

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [e-mail].

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LINKS:

Will Summerlin's podcast: Autopilot - Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries.

Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333

Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836

Autopilot VC: https://apv.vc/

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TIMESTAMPS:

(00:00) Intro

(00:45) Thesis of Autopilot's fund and the AI Supercycle

(02:05) The Edge of AI in Various Domains

(03:07) Venture Capital Perspectives on AI Startups

(06:20) Identifying Opportunities and Challenges in AI Investment

(06:48) Deep Dive into AI's Impact on Specific Industries

(11:46) Strategies for AI Startups and Investment Insights

(13:55) The Future of AI: Foundation Models and Startup Opportunities

(14:15) Sponsor: Harmonic | Squad

(16:44) Llama 3 Use Cases

(23:49) Drawing Parallels: From the Industrial Revolution to Today's AI Revolution

(24:32) The Impact of AI on Software Development and Productivity

(24:55) Exploring the Dynamics of Revenue and Cost Centers in the AI Era

(26:04) Strategy: Navigating the Series A and B Landscape

(30:17) The AI Super Cycle: Predicting a Surge in Enterprise Value

(32:44) Finding Alpha in a Crowded Market

(39:51) The Monopolistic Outcomes of AI Markets

(41:50) Fund Size and Investment Strategy in the Series A and B Space

(45:26) Automating Financial Services in FinTech and AI

(48:36) Wrap

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