The Seven Generative AI Building Blocks for the Next Generation of Consumer Technology Companies
OpenAI’s ChatGPT reached 100 million monthly active users just two months after launch, setting the new standard for the fastest-growing consumer application in history. The landmark achievement underscored the strength of generative AI’s pull in consumer markets—surpassing even the breakthroughs of the internet and smartphones.
Retail e-commerce is as old as the advent of the web. In the decades that followed, a wave of innovation across supply chain, logistics, advertising, payments, checkout, and storefront tech has vastly improved the consumer e-commerce experience.
E-commerce has given millions of entrepreneurs the ability to launch new businesses. However, in recent years, it’s started to feel like Amazon has won the battle for e-commerce, commoditizing merchants on top of its monolithic stack.
On behalf of Menlo Ventures, I’m thrilled to announce our investment in HOVER, a startup using deep learning and computer vision to digitally map any home in 3D using pictures taken from a mobile phone.
We’re thrilled to be announcing our investment in 6 River Systems, the leader in autonomous robotics and warehouse automation, and to be backing great founders with unique domain experience in Jerome Dubois and Rylan Hamilton.