Cédric Beaudoin
Senior Associate, impact and technology investing, Investissement Québec (IQ)
Episode with Cédric
Investing in AI and Impact: Building Resilient Startups in QuebecA Quebec venture investor explains how modular AI, fast iteration and resilience shape the startups he backs, and why everyone should talk about AI.Cédric BeaudoinSenior Associate, impact and technology investing, Investissement Québec (IQ)In Cédric’s words
Build so you can unplug your AI model in six weeks and plug in a better one.
it's it's probably having something that is modular in some way where there's a pieces that is is going to plug into your software that's going to be make it a lot more efficient but if at some point something else comes up like six weeks six months later you can just unplug that and plug something else rightAI is no longer a sector. For an investor, it is a feature of every company.
i think some people would probably disagree with the fact that ai is just a feature of every company now it it just is you're doing hardware ai you're doing software ai it's not something that you can just go without it's just notA venture investor tells every founder they're crazy, and means it as respect.
every time I speak with an entrepreneur, I always tell them that they're crazy. I would never do that. It's so much sacrifice. You need to have grit. You need to have so many qualities that I'm not remotely close to having.The reason to start a startup is that few people are solving your problem, so you can iterate fast.
they ship something. It might fail. It might not, but you're going to fix it afterwards. Right. Like the only reason why you're doing a startup is because there's few people solving a very large problems. And because there's so few people, well, you can iterate pretty quickly.Don't build the wave. Get on someone else's surfboard and ride it.
a lot of people saw that wave coming and some people actually are surfing the wave right now and I think the only thing that the cohort from next AI needs to do is to get on somebody else's surfboard and and serve the wave with them rightNobody wants to plan their own estate. That is exactly why automation fits.
I wouldn't say it's a boring business but it's it's not like estate planning it's not something that you want to do right you need to plan for something that is going to happen and then that thing is happening you're dead because it's dead right so you nobody really wants to do that rightAbout 40 billion dollars will change hands in Quebec in ten years. One startup is building for that moment.
they were looking at the assets on their management that this generational wealth is going to be transferred to somebody else so there's around 40 billion dollars that is going to transfer from one hand to another in the next like 10 years which is a lot of money it's just so much money but like the boomers had a lot of moneyAn investor's wish after building his house: an app that lets contractors earn from the suppliers they recommend.
if somebody pitches me that i 100 percent invest but you need to be a middleman between the two so you want to incentivize contractors to work with suppliers and suppliers to get contractors to work with themThe AI I want in three years gives me free time instead of more work.
the technology that i foresee to be something that is mostly disruptive is just an ai that is going to allow us to have more free time so not add more work but have more leisureYou don't need a PhD to talk about AI. It is going to touch everyone.
a lot of people don't want to talk about ai because they don't they're not phd or they're not data scientists and they're not come come saw a major but i think at some point it's going to touch 100 of the people so i think everybody needs to just talk about itStop talking about AGI. Start with the AI tools you can use this week.
everybody just needs to have just a small conversation and and stop talking about like agi and all these stuff that is very scary just focus on the things that day-to-day kind of conversation that you're you're going to haveBefore ChatGPT, investors wanted teams that built models. Now they want teams that skip the grunt work.
now it's changing a bit because of course you need to have those engineers you need to have those people that understand the code that understand pretty much everything inside of the code but they don't have to do the grunt workAn investor's pick for any AI startup: Grok, for its talent and its pile of human data.
i think all the great talents are going there like all the great talents are going there and i think them buying twitter was of course like it's it's it's kind of a shady mood right like everybody's buying everybody kind of a but but in the end there's so much data in their human data and authentic human data that it's very scary what they actually can do with that