Venture Capitalist Deborah (Deb) Magid, my former IBM VC Group coworker, hosted a VC rockstars discussion at an AI and Future of Work event at DLA Piper law firm in Palo Alto on Tuesday.
The comment highlighted repeatedly was that AI needs human guidance to work to its potential.

Surprisingly, most panelists agreed that AI can make our jobs harder. This is partially because it offers unique insights which might take a company in a new or difficult direction. Furthermore, it’s more important than ever to hire very smart people to manage AI’s power.

As background, panel moderator Deb Magid cofounded NextStar Venture Partners and helps run operations at global VC powerhouse TGV. Beatrice Lion TGV’s CEO ran her own startup panel discussion with Coding Giants, Cynch AI and Lussa during the event. Those founders discussed AI in education, tax prep and gaming.

On her panel, Magid interviewed three VCs: Chris Yeh of Blitzscaling Ventures, who cowrote the book “Blitzscaling” with Reid Hoffman, Bill Reichert head of Pegasus Tech Ventures, formerly of Garage Tech Ventures, and Steve Krausz, one of the heads of U.S. Venture Partners.
Pegasus’s home page lists investments in Anthropic, Airbnb, SpaceX, and OpenAI.
Here are some of their comments which include the type of companies they like to work with.
Since the theme of the day was AI and Future of Work, Deborah Magid asked them to comment on the statement, “AI will not replace employees. Someone using AI will.”
Reichert said that AI has done more “slowing of recruiting” than direct replacing. He said that sometimes companies use AI as an excuse for their lay offs.
Steve Krausz then pivoted by bringing up the good that AI does. He mentioned backing both security and healthcare IT companies. He touted major advances in patient recovery related to AI innovation.
Chris Yeh then commented on what VCs invest in. He said, “Do we invest in something that is hot, or something valuable?” Yeh said overwhelmingly he prefers something that solves a problem so valuable. He mentioned sometimes you pick a great solution but are too early.
The panelists agreed that timing is everything.
Steve Krausz brought up one that USVP backs called Quantifind saying that they started out focusing on advertising and then switched to financial services. To me this means that a VC can add great value.
Krausz of USVP kept stressing a simple concept, “Address a problem that has not been solved.”
Reichert of Pegasus Tech added that they ask, what does a startup have that no one else has? And is it a defensible proposition?
He says they look for things that are incredibly compelling.
Chris Yeh of Blitzcaling added that they ask, how does a product or service remove friction in your life?
Each panelist commented that AI absolutely needs smart humans to get the most out of it.
One said you may need to hire different people who know how to use and manage AI. Panelists oddly seem to agree that AI can make our work lives harder, not easier.
It’s partially because AI can give you information that’s a new thought. This may make us think differently or take a new path. One panelist said AI isn’t supposed to just give you a standard research report. It’s supposed to supply a new perspective.

On the startup panel run by Beatrice Lion, Coding Giants co-founder Dawid Lesniakiewicz said that they teach kids coding but also have hundreds of teachers helping the learning process. Dawid said that we absolutely need excellent teachers and mentors to help with the AI-based learning process.
Chris Yeh also gave a separate talk on investing and AI’s impact and said that only 3% of people use AI. As a wise PR professional who questions everything, I asked him for clarification out in the hallway: I told him it’s probably higher because of how many people use AI without knowing it, like iPhones with Siri, Google Maps and Microsoft Word.
He said that 3% was a guess. Yeh is an expert on this topic so his guess does count.
On the other hand, I’m an expert too (a ranked future of recruiting influencer) and I’d say it’s well over 20 percent. At some point I’m going to do the math on this topic.
On a final note, the trend and advice comments from every speaker were super informative and I was grateful to have the chance to hear from these experienced VC rockstars and smart founders.
Thank you to Deb Magid and Beatrice Lion for hosting this, and Deb for the invite!
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Michelle McIntyre, an award-winning IBM vet, is a tech PR consultant who garners much needed attention for startups and their investors. She’s a ranked Future of Recruitment influencer, has 3.2 million Quora views for her advice about elite college admissions, and was recently on PRSA Silicon Valley’s board of directors.
Photo credits: Michelle took two photos. One features Deb Magid and Beatrice Lion and the other is of the architecture. Adam (Hua) Chen, senior software director, Xingtera, took the panel photos.
Here’s part of the original Jan. 27th event agenda so readers can see all of the speaker names:
2:15 Keynote: The Future of Work in the Age of AI
Chris Yeh, Founding General Partner and Author, Blitzscaling Ventures
2:45 Founders Panel: AI as the Cornerstone for Vertical Applications
Nigel Duffy, CEO & Founder, Cynch AI (AI + Tax)
Zlatko Stjepanovic, CEO & Co-founder, Lussa (AI + Gaming)
Dawid Leśniakiewicz, CEO & Co-founder, Coding Giants (AI + Education)
Moderated by Beatrice Lion, CEO and General Partner, True Global Ventures
3:30 VC Panel: Investing in the Future of Work
Chris Yeh, Founding General Partner and Author, Blitzscaling Ventures
*Ashmeet Sidana, Founding General Partner and Chief Engineer, Engineering Capital *Author note: Sidana ended up not on the panel. Bill Reichert was added to the panel.
Steve Krausz, Partner, US Venture Partners
Moderated by Deborah Magid, Operating Partner, TGV; and Managing Director, NextStar Venture Partners
4:15 Closing Keynote: AI and the Future of Work: Hype, Hope, and Reality
Bill Reichert, Partner, Pegasus Tech Ventures




































