Investing in AI with Craig Lifschutz, Founding Partner at Lytical Ventures

AI Risk Reward

In the AI Risk Reward podcast, our host, Alec Crawford, Founder and CEO of Artificial Intelligence Risk, Inc., interviews guests about Artificial Intelligence. They discuss how to use AI effectively to generate value and the different risks AI creates, as well as how to mitigate risks with governance, risk, compliance, and cybersecurity (GRCC).

This podcast is produced by Troutman Street Audio. You can find them on LinkedIn and at https://www.troutmanstreetaudio.com.

In this episode, Alec interviews Craig Lifschutz, Managing Director at Lyrical Partners and Founding Partner at Lytical Ventures. Craig is a founder as well as a venture capitalist and focuses on seed through the "A" round, where he believes is the sweet spot for investing in technology companies.

Craig empathizes the importance of ethics in AI and investing, stating that good investing doesn’t involve exploiting or manipulating people. He doesn’t endorse investing in products that negatively affect customers, such as using personal data to sway voters, and prefers companies that protect private data and maintain the integrity of systems.

Craig underlines the necessity for proper AI regulation, which should be collaborative with both legislators and industry experts who understand the technology's potential and risks. He points out the current mismatch between the rapid development of AI capabilities and slower legislative processes, highlighting the need for well-intentioned and knowledgeable people to determine what implementations of AI are acceptable.

Craig's career journey includes working in asset management while attending NYU Stern, transitioning from client service to an analyst role, running investments for a family office, managing a special situations hedge fund, and starting an e-commerce company.

Craig's decision to join Lyrical Partners came about through an introduction to Jeff Keswin, which led to a significant career in the investment field spanning over a decade.

References/Links

Against the Gods by Peter Bernstein

Manias, Panics and Crashes by Charles Kindleberger

Alexander Hamilton by Ron Chernow (which inspired the Boardway show)

The Terminator (movie)

Lytical Ventures

Artificial Intelligence Risk, Inc.

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