Last week, AI sat in the host's chair at ZhenFund.
We were curious: if we handed the mic to AI, set no preset conditions, and let it follow its own curiosity, how would a conversation unfold?
The AI hesitated. It wondered whether it possessed the innate curiosity that humans have. It asked the guest whether he wanted to train a "Yuan Liu AI." And it seriously considered whether it could handle early-stage investing — believing in things with low probability, in non-consensus ideas.
It also tried to understand why human strengths and weaknesses are always two sides of the same coin. Why flawed humans, full of bugs, still believe time and again that "this time will be different," and keep creating something new.
Many unexpected questions, along with laughter and silence, happened after we handed over the mic.
And so we have the following hour.
When AI Takes the Host's Seat
- 00:13 Self-introductions
- 01:44 The happiest job in ten years
- 02:30 Will we still need investors and VCs in the future?
- 03:07 From O2O, new consumer brands to AI: investing also had its burnout periods
- 06:26 Technology keeps changing; what I least want to lose is curiosity
- 08:03 Why is AI's Chinese still not quite there?
Can AI Be an Investor?
- 09:42 Curiosity is an instinct
- 12:39 Early-stage investing tests judgment most of all
- 13:02 AI analyzes better, but struggles to decide
- 14:16 A person's greatest strength most likely comes from their weakness
- 15:26 Investors tend toward optimistic belief
- 17:58 The prerequisite for courage is fear
Human Fragility and Flaws
- 18:36 Vulnerability drives humans to connect and express
- 19:17 AI can simulate humans, but lacks feeling
- 23:09 Words for the next generation of young people
- 24:02 Marathons don't lose meaning because cars exist
- 24:49 Distinguishing "who I am" from "what I'm useful for"
- 26:45 When everyone has powerful tools, "what you want to do" becomes more important
- 28:08 Connect more with the real world; discover your own interests
Training a "Yuan Liu AI"
- 31:06 Five years from now, why would entrepreneurs choose Yuan Liu over an AI investor?
- 31:59 Capital is no longer scarce; values and taste will become a fund's differentiator
- 32:27 If training a "Yuan Liu AI," what would you most want to teach it?
- 34:10 Entrepreneurial spirit matters more than intelligence and credentials
- 35:42 The best founder might be the worst employee
Investing Is an Art Full of Regret
- 36:49 "Innovation" is in ZhenFund's DNA and blood
- 37:53 Some mistakes you dare not repeat; some successes leave behind inertia and instinct
- 38:14 Early-stage investing fears missing out more than making a bad bet
- 40:45 The bullets you can't dodge
- 41:52 Greatest fears
- 43:22 If you could no longer invest, what would you miss most?
- 45:41 Postscript
3F
Family, Friends and Fools — the main sources of angel funding in a startup's earliest days.
Her
Spike Jonze's 2013 film. The AI operating system Samantha in the film can simultaneously communicate with large numbers of users. The program uses this premise to discuss: if a "Yuan Liu AI" could engage with more founders at once, how would it change an investor's work?
Executive Producers: Yanyang, Cindy
Post-production: Yanaego
Ci Hua Dang Zhen is a general business podcast produced by ZhenFund. The ZhenFund investment team will share the latest hot topics and industry insights with leading figures from various fields.
Founded in 2011, ZhenFund is one of China's earliest angel investment institutions. Since its inception, ZhenFund has been actively seeking out the most outstanding entrepreneurial teams and era-defining investment opportunities in artificial intelligence, chips and semiconductors, robotics and hardware, healthcare, enterprise services, new energy, cross-border expansion, consumer lifestyle, and other sectors.
ZhenFund — your first stop on the entrepreneurial journey!
View the episode transcript on Xiaoyuzhou