Recently, during conversations with some investors, the topic of AI’s impact on the investment world came up quite a lot. Many investors believe that AI, with its ability to evaluate growth potential and project prospects based on data models, will gradually disrupt or even replace certain investment evaluation processes that rely heavily on data analysis.
However, they often joke with me, saying, “Matt, don’t worry, angel investing will never be replaced by AI because there’s no set formula for making these decisions. There’s simply no way to train a model for it!”
This reminds me of what Einstein once said: “The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift.” This quote perfectly captures the contrast between human intuition and AI’s logical analysis—a contrast worth reflecting on.
While AI’s analytical power may seem impressive, it essentially operates by “looking backward to connect the dots.” In reality, many of the most crucial decisions are made without clear data, often amidst uncertainty.
As Steve Jobs once said, “You can’t connect the dots looking forward.” Moving into the future depends on “trusting that the dots will somehow connect in your future.” It relies on a decision maker’s intuition, honed through years of experience, and the courage to take risks.
Many successful startups are proof of this. For instance, one of our portfolio companies, Hims & Hers, rang the bell at the New York Stock Exchange in 2021 as a leading telehealth company. If you didn’t know their backstory, you might find it hard to believe that in 2017, Hims began with just one product: hair loss treatment.
Over the next five years, Andrew’s knack for sensing market signals opened up incredible growth opportunities for the company—including expansion into women’s health, developing nutritional and sexual wellness products, and seizing the massive opportunity brought by regulatory changes to pivot into telehealth.
These signals are not always obvious or easy to track. Recognizing them requires a combination of intuition, decisiveness, and faith—qualities that help leaders find direction in uncertainty. Such decisions, which cannot be quantified, are beyond the capabilities of AI.
No matter how much technology advances, the wisdom, creativity, and ability to connect deeply with others that we gain from our experiences will remain irreplaceable. It’s precisely these human qualities that allow us to continuously innovate and find new opportunities amid change. Perhaps we can leave the analysis of the past to AI, but the future is something we will always have the power to shape ourselves!
