Matt Levine’s Money Stuff: The New Bird Is Smartbird

AIbirds

It does seem like the preferred way to raise money for an idea in artificial intelligence is with institutional venture capital. Some once quite far-fetched AI ideas have paid off richly and rapidly in recent years, and there’s a lot of venture capital looking for more. We’ve talked about Mira Murati’s AI startup, Thinking Machines, which apparently raised $2 billion from top venture firms without telling them anything about its product or business plan. It had people with good AI credentials, it was doing something in AI, good enough!

Probably if you’re one or two tiers down from Murati, ...