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Stock impact report

Rex Woodbury's Daybreak Ventures unveils $33 million first fund [Fortune]

UiPath, Inc. Class A (PATH) 
Company Research Source: Fortune
While many people wonder how much stuff can truly be automated by AI, Woodbury reckons this is the wrong question—especially when it comes to consumer behavior. To explain why, he looks at the history of cake mixes. First introduced to the public in the 1930s, cake mixes didn't really grow in popularity until the 1950s, when General Mills and Betty Crocker offered a simple but significant tweak—encouraging consumers to add a fresh egg. AI may very well be the same way: Just because an AI agent can do everything on its own, that doesn't mean that's what consumers want. “I love that example, because it's a very concise one that speaks to a lot of the founders I meet,” said Woodbury. “When things change, we could probably automate away tons of these things, with AI companies looking at everything from gaming to law to commerce. It's crazy what some of these products can do, but are people quite ready for that? I love that story with Betty Crocker and the cake mix, because I do think it Show less Read more
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