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The global rise in Artificial Intelligence (AI) companies has significantly altered the landscape for startups that do not focus on AI. According to Brian Hirsch, co-founder of Tribeca Venture Partners, the AI boom is masking the real struggles faced by non-AI startups in securing funding.
In a recent interview with TechCrunch, Hirsch emphasized that venture capital firms are excited about backing AI companies at extremely high valuations, while non-AI companies are facing significant challenges in securing investment. “VCs are excited to back AI companies at these red-hot valuations,” said Hirsch.
Source: techcrunch.com
