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20VC: X.ai's Dennis Mortensen on Why There Is No Incumbency Advantage in Artificial Intelligence

20VC: X.ai's Dennis Mortensen on Why There Is No Incumbency Advantage in Artificial Intelligence

FromThe Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch


20VC: X.ai's Dennis Mortensen on Why There Is No Incumbency Advantage in Artificial Intelligence

FromThe Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

ratings:
Length:
31 minutes
Released:
Jun 24, 2016
Format:
Podcast episode

Description

Dennis Mortensen is the CEO and Founder of X.ai, the artificial intelligence driven personal assistant that lets people schedule meetings using plain English and nothing more than a CC to amy@x.ai. Their female persona Amy is so lifelike that users have asked her on a date at a rate of one request per month! X.ai is now one of the best funded AI startups having raised over $30m from our friends at FirstMark and a big thanks to Matt Turck for making the intro and from DCM, who also helped us with some of the questions for Dennis!    In Today’s Episode You Will Learn: 1.) How Dennis came to found X.ai and what the a-ha moment was for him? 2.) What did the training look like for X.ai? How long did it take? How much data did you have to painstakingly annotate? What is more important; data or algorithms? 3.) Many VCs are concerned about large incumbents having proprietary data sets. Does this concern Dennis and what can be done to mitigate this 4.) Question from David Cheg @ DCM: How will AI startups interact with giant corporates also investing heavily in AI research? 5.) How was the fundraising journey for Dennis? How did he approach it strategically? What challenges did he face? How did he go about choosing his investors? Items Mentioned In Today’s Episode:  Dennis’ Fave Book: How To Get Rich by Felix Dennis Dennis’ Fave Blog: Wait But Why As always you can follow The Twenty Minute VC, Harry and Dennis on Twitter here! If you would like to see a more colourful side to Harry with many a mojito session, you can follow him on Instagram here!   If you are looking to make your move into the world of VC or improve your investing skills,  Venture Capital Unlocked: Secrets of Silicon Valley Investing is a must! It is a 2 week crash course at Stanford run by Stanford Professional Development Centre and 500 Startups. You will learn the mechanics of all things Silicon Valley investing, check it out here.   The Twenty Minute VC is brought to you by Leesa. Lees is like the TOMS Shoes or Warby Parker of the mattress industry. Here are 3 reasons why they are the best place to get your new mattress: Leesa has done away with the awkward mattress showroom experience by allowing a fully online experience, shipping to your doorstep for free. Their 10 inch mattresses come in all sizes and is crafted with 3 unique layers o foam including2 inches of memory foam and 2 inches of really cool latex like foam design to keep you cool. All Leesa mattresses are made 100% in the US or UK and they give you a 100 night trial, to make sure the mattress is perfect for you. Go to leesa.com/VC and enter promo code VC75 to get $75 off!    
Released:
Jun 24, 2016
Format:
Podcast episode

Titles in the series (100)

The Twenty Minute VC takes you inside the world of Venture Capital, Startup Funding and The Pitch. Join our host, Harry Stebbings and discover how you can attain funding for your business by listening to what the most prominent investors are directly looking for in startups, providing easily actionable tips and tricks that can be put in place to increase your chances of getting funded. Although, you may not want to raise funding for a startup. The Twenty Minute VC also provides an instructional guide as to what it takes to get employed in the Venture Capital industry, with VCs giving specific advice on how to get noticed from the crowd and increasing your chances of employment. If that wasn't enough our amazing Venture Capitalists also provide their analysis of the current technology market, providing advice and suggestions on the latest investing trends and predictions. Join us so you can see how you can get BIG, powerful improvements, fast. Would you like to see more of The Twenty Minute VC, head on over to www.thetwentyminutevc.com for more information on the podcast, show notes, resources and a more detailed analysis of the technology and Venture Capital industry.