20VC: Why AI Models are not a Moat, Where Does the Value in AI Accrue; Startups or Incumbents, What the World Has Got Wrong About AI, Why AI Needs a New Story and Who is the Right People to Tell it with Cris Valenzuela, Co-Founder & CEO @ Runway

Posted on 28th August 2023 by Harry

Cris Valenzuela is the CEO and co-founder of Runway, the company that trains and builds generative AI models for content creation. To date, Cris has raised over $285M for the company from the likes of Lux Capital, Felicis, Coatue, Amplify, and Nvidia to name a few. Runway’s customers include academy-nominated movies, TV shows, media companies, and creatives across industries.

In Today’s Episode with Cris Valenzuela We Discuss:

1. From Childhood in Chile to Founding one of the Hottest AI Startups:

What was the founding moment for Cris with Runway?
His investors described Cris as an “outsider”. Does Cris believe he is an outsider? What are the biggest pros and cons of being an outsider?
What does Cris believe he is running from? What is he running towards?

2. Models are not a Moat: Models 101:

What does Cris believe is more important; model size or data size?
Why does Cris believe that models are not a moat?
How does Cris think about the lifespan of models? Will any used today be used in a year?
Are hallucinations a feature or a bug? What are the nuances?

3. The World Has Got AI Wrong: We Need Different Stories:

Why does Cris believe the world has got AI wrong?
Why do we need different stories for what AI can do and will be? Who should tell them?
Why do groups like screenwriters riot and protest if the tool is empowering and not replacing?

4. Company Building 101: Hiring and Fundraising:

What are the biggest pieces of startup advice that are total BS?
What has been the single biggest lesson Cris has learned when it comes to fundraising?
Does Cris believe that VCs really add value?
What have been the single biggest hiring mistakes that Cris has made?
How has Cris structured their interview process to make it the best interview process in the world?

Latest Posts

20VC: Keith Rabois and Mike Shebat on Creating an Olympian Mindset to Work Ethic, Why First-Time Founders are Better Than Serial Entrepreneurs, Why Remote Work Does Not Work, Why the Best Founders Always Start in their Teens & Why Companies are Cults?

27th November 2023

20VC: The Ultimate AI Roundtable: What Happens Now in AI, The Commoditisation of LLMs, Model Size vs Data Quality, Why Google are Vulnerable and Apple are the Dark Horse

26th November 2023

20VC: Why OpenAI Will Become an Infrastructure Play, Why Apple Will Win in an AI World, Why Google is the Most Vulnerable Incumbent, Will LLMs Be Commoditised, Which Startups Are Thin vs Thick Wrappers on Top of LLMs with Jeff Seibert, Founder @ Digits

22nd November 2023