Gurley says being conservative isn't realistic as seven companies each raised over $200 million in coding and legal AI.
“Because then we'll just throw out two examples, the coding space and the legal AI space. There's seven companies that have raised over $200,000,000”
Gurley notes OpenAI will burn $7 billion annually, calling it radically different from traditional venture.
“I think OpenAI said they're gonna be 7,000,000,000 in a year. That's not your grandfather's startup business or your grandfather's venture capital. That's a radically different world.”