TLDR:
- Vinod Khosla and Dave Friedberg discuss the challenges and opportunities in agrifoodtech funding.
- Khosla highlights the lack of economic viability in cell-based meats and the shift of “silly money” to AI investments.
Vinod Khosla and Dave Friedberg recently discussed the current state of agrifoodtech funding at the World Agri-Tech and Future Food-Tech conferences in San Francisco. Despite a significant decline in agrifoodtech funding in 2023, both speakers remained optimistic, emphasizing the availability of capital for exceptional founders with disruptive products or technologies. They also highlighted the significance of separating truly innovative startups from “me-too” companies in the market.
Vinod Khosla shared insights on the lack of economic viability in cell-based meats, mentioning that despite the high number of business plans in this area, none made economic sense to his firm. He also noted the shift of “silly money” to AI investments, warning that many AI investments are overvalued, but a few will likely be successful, reflecting his investment strategy in OpenAI five years ago when AI investments were less common.
Dave Friedberg discussed the potential for programming biology and the advances in AI and machine learning to accelerate R&D processes in the industry. He highlighted the investment in Triplebar Bio, a company leveraging microfluidics and AI for biomanufacturing platforms, as an example of the value of combining advanced technologies for market success.
Overall, the discussions at the conferences shed light on the challenges and opportunities in agrifoodtech funding, the importance of differentiation in the market, and the potential for breakthrough innovations in AI and programming biology to drive future growth in the industry.
