It might seem like venture capital is flooding into generative AI companies at the expense of everything else, but the reality is more interesting.
You’d be forgiven for assuming, based on business press coverage (cough), that, at any given point in time, there is a single, mega-disruptive technology that exerts a gravitational pull on any and all venture capital dollars. In the late 1990s and early 2000s, this would have been the internet and its nascent economy. In the late 2000s to 2010s, it was smartphone and SaaS apps. A few years ago, it was crypto, which, if the prognostications were correct, we would all currently be using to buy groceries.
