How AI is changing entrepreneurship

my latest piece in "The Currency"

Here is my latest piece in The Currency (paid).

TL;DR:

• AI slashes software prototyping costs by 90%+

• Cheaper prototyping means entrepreneurs try more ideas

• Lower startup costs boost opportunity but demand sharper, faster execution

• With more products and launches, it becomes harder to stand out

• The bottleneck shifts from the cost to build, to a scarcity of founders and the challenge of finding distribution

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A blurb from the piece:

"Another consequence of cheap software is intensified competition in software and AI products. I see this in my own business. In 2023, my primary revenue came from selling AI models tuned to interact with web services such as Gmail or financial data. Those features have since been commoditised and my revenue from them driven to near zero. Today, revenue comes mainly from tutorials and scripts that help developers to train AI models with their own data. In another six months, that focus may change again."

and yet another:

"As entrepreneurs take more shots on goal, whether sequentially or in parallel, they become a little more like venture‑capital firms. Founders may increasingly diversify their time across multiple investments. Capital still funds growth, yet the equilibrium has shifted a little toward founders as the scarce resource."