Sramana Mitra: Not anymore. That’s what the question is. If you look at what’s happening in the market right now, there is a product that was built on Lovable, and in 48 hours it went to 3 million ARR. Obviously, they’re using some no-code tool that has enough functionality for people to want to pay.
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David Evans, Managing Partner at Sentiero Ventures, discusses his firm’s AI investment thesis.
>>>Sramana Mitra: So, I’m going to give the audience a pointer. Actually, quite a number of years ago, before the pandemic, I wrote a series called “Man and Superman: Human History Bifurcates,” which addresses exactly this. It’s all available on my blog for you to read. My thesis was that people who do not choose to augment are going to be at a disadvantage, and now we are seeing more real manifestations of that.
>>>Sramana Mitra: You know, I read something interesting as you’re talking about this idea of glasses and the augmentation of your experience.
>>>Sramana Mitra: So tell me more about what you’re seeing in terms of AI in your world. Even if it’s earlier-stage investments, what kind of things have you invested in, and what trends are you noticing?
>>>Sramana Mitra: I have a different question, but we’ll go on to your next case study in just a moment because what you’re describing is so interesting. I did one of the first online fashion companies—real fashion, regular fashion—back in 1999.
The question that’s swirling in my mind is: you have so many users and so much activity. It must be segmented though, right? Is it the fashionistas who are on there, or is it more the geeks who like t-shirts and fashion?
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A very effective way to dance the entrepreneurial Waltz is to do a bootstrapped company first, sell it, and then do another venture with a more ambitious agenda. From 2021, Jeremy Swift’s journey as Co-founder and CEO of Cordial is a great case study of this method.
Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Jeremy Swift: I was born in Beaverton, Oregon. Most people know about Beaverton because of Nike. It’s a small suburb outside of Portland. I grew up in what I would consider a small middle class family. Both my parents were a rare breed and especially different from the path that I’ve taken in my life. The first job they got out of college is the same job that they retired with 40 plus years later.

VCs are salivating over ultralight startups right now. The stigma around solo entrepreneurs will vanish soon. Positioning will remain key to achieving Velocity. And Velocity will continue to drive Fundability.
Are you trying to raise money for your startup and getting rejections? It’s worth understanding WHY. VCs are looking for Velocity. Their goal is to achieve $100M in revenue in 5-7 years. How do you do that? You can read more and dialog here on what drives Velocity.