The worst thing to seem to investors is borderline promising. If a startup is obviously promising, you'll raise money easily. If it's obviously unpromising, you'll get an immediate no. But if it's borderline promising, the no will come after sucking up months of your attention.
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"The big ideas have been tried" doesn't mean they were successful in actually solving the problem. Better question is whether it's a level playing field for startups given next generation of innovation will come from AI/ML and the largest tech companies monopolize the data.
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