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

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?