
NFX is a venture firm exclusively focused on pre-seed & seed stage startups.Source
San Francisco, California
Right now there’s nothing cooler than saying you’re building a company powered by AI or on top of GPT4. But cool on its own isn’t enough. Jack Dorsey didn’t raise money for Twitter by saying they were building a social media site on Heroku. When Spanning Labs (Drew’s company) was building web3 infrastructure, we found ourselves constantly needing to explain that we were not technology in search of a problem, but rather, the other way around. Too many people had spent too many years building and investing in web3 technologies instead of businesses. We see a similar pattern emerging in...…Right now there’s nothing cooler than saying you’re building a company powered by AI or on top of GPT4. But cool on its own isn’t enough. Jack Dorsey didn’t raise money for Twitter by saying they were building a social media site on Heroku. When Spanning Labs (Drew’s company) was building web3 infrastructure, we found ourselves constantly needing to explain that we were not technology in search of a problem, but rather, the other way around. Too many people had spent too many years building and investing in web3 technologies instead of businesses. We see a similar pattern emerging in...WW…