Dragonfly Capital GP: Talent is flocking to the field of artificial intelligence, but the "bubble" market is discouraging VCs

Tom Schmidt, general partner of Dragonfly Capital, said in an interview at the Token2049 event in Singapore that while many talented professionals are entering the field of artificial intelligence, the field is currently daunting VCs as it stands. Schmidt said that the cryptocurrency and artificial intelligence fields are currently competing for talent. Since artificial intelligence is a new technological development, he said that the field is currently more attractive to professionals. However, this is not the case for VCs. Schmidt said that capital is becoming less and less interested in artificial intelligence because it seems to have a lot of "bubbles and over-allocations." In addition, the high valuations of artificial intelligence companies are a cause for VC concern. He added that if you compare the price-to-earnings ratio with the growth rate, you will find that the field is currently at a "crazy level", and compared the current level with 2021, indicating that the risk environment is 5%. (Cointelegraph)