Dragonfly Capital general partner Tom Schmidt urged crypto projects to consider whether they need venture capital funding.
While many talented professionals are getting into artificial intelligence, Dragonfly Capital’s general partner said in its current state, the space is turning off venture capitalists.
In an interview with Cointelegraph’s Ciaran Lyons at the Token2049 event in Singapore, Schmidt said that crypto and AI are currently competing for talent. With AI being a new technological development, the venture capital executive said that professionals are currently more attracted to the field. He explained:
However, the same cannot be said for venture capitalists. Regarding capital, Schmidt said that people are getting more turned off by AI because it seems very “frothy and overallocated.”
