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Why AI will eat McKinsey’s lunch — but not today
Navin Chaddha, managing director of the 55-year-old Silicon Valley venture firm Mayfield, is betting big on AI's ability to transform people-heavy
Navin Chaddha, managing director of the 55-year-old Silicon Valley venture firm Mayfield, is betting big on AI’s ability to transform people-heavy industries like consulting, law, and accounting. The veteran investor, whose wins include Lyft, Poshmark, and HashiCorp, recently discussed at TechCrunch’s StrictlyVC evening in Menlo Park why he believes “AI teammates” can create software-like margins in traditionally labor-intensive sectors, and why startups should right now target neglected markets rather than compete head-to-head with giants like Accenture — though he acknowledged that disrupting outfits where relationships and trust matter is sometimes harder than Silicon Valley anticipates. I think an advantage of a firm that has been in business for over 50 years is that it has seen all the trends, from mainframe to minicomputers to PCs, to the internet, to mobile, cloud, social and now this AI era.
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