Bagel Store
A.I. jumpstarts the entrepreneurial process - but doesn't provide the part that truly matters.
My interest in venture capital has grown recently, particularly given my excitement for my own startup idea, my work in strategy and operations at a startup, and venture capital’s recovery from its low point last year. AI has opened up far more investment opportunities, and we are starting to see deal activity approaching the levels we saw in 2021 and 2022.
Greater market opportunity means a much higher likelihood of business creation. Without a doubt, companies raising seed rounds today will inspire the next wave of entrepreneurs — particularly in an era where developing a deep understanding of a market, conducting competitive due diligence, and prototyping a product can be accomplished in a matter of minutes.
AI has given anyone with an internet connection access to vast amounts of knowledge in a matter of seconds. Greater feasibility means more builders discovering and developing new ways to solve the world’s toughest challenges. There might not be a more exciting time in history for both former and aspiring founders.
Bagel Store Experience
The other day, I was at my hometown bagel store, which happened to be flooded with customers. I watched the owner — with whom I’ve become friends — running from one end of the store to the other, taking orders, checking finished ones, and greeting customers by name. Inching my way to the front, I couldn’t help but comment on how crowded his store was.
Seconds later, the owner pulled me aside. Pointing to an old picture of a small bagel shop, he told me that this was what his store looked like 30 years ago. A quarter of the size, a quarter of the staff, and 10% of the customers. He explained how tough it was to bring people through that door — but it never stopped him.
This brief interaction reminded me of the true meaning of entrepreneurship, and a lesson I encourage all founders and prospective ones to carry with them as they turn their ideas into action: AI might help it grow faster and make it easier to start and scale, but only passion can carry you all the way forward. We cannot let efficiency and automation cause us to lose sight of what matters most.
AI might build the runway quicker. But without passion, there won’t even be a plane.
Relevant Links
Email: bryanhanleyvc@gmail.com
LinkedIn: https://www.linkedin.com/in/bryan-stanley-hanley/
Lovable: https://bryan-hanley.lovable.app/