Just had coffee with a friend who invests at the Series A level. The current AI investment landscape is extremely fragmented. Getting a slot with Sequoia (not the VC firm Sequoia) is harder than reaching heaven. Even for large funds, it's not guaranteed you can get into deals from Big Tech alumni (founders from Google, Meta, OpenAI, etc.). If it's a mid-sized fund, it's basically a wasteland—targets are limited, snapped up in seconds. What's left either lacks scale potential or carries the risk of being a shell company that gets rendered obsolete.