Money is given to ideas that might become billion dollar businesses and teams that look like they can do it. Pedigree, domain expertise, previous exits.
That works under the assumption of the "wisdom of the markets", and we assume VC possesses that wisdom, but laid bare it's just as vulnerable to cronyism as any other institution.
If you're being handed millions of dollars in early venture capital and don't have revenue/pmf to show, they're going to want to see a top university, FAANG, relevant industry experience, etc. How else would they underwrite the risk?
Upon every commit, AI will review your code to check if it's worth committing or not (after all, disk space is expensive these days!). If the AI finds the code is not up to scratch, it will be reverted and you'll be given a chance to try again.
Then, we will develop (read: sell) AI agents that will ingest a proposed code change (created by your front-line agent), and iteratively refactor it until the commit agent accepts it.
Money is given to ideas that might become billion dollar businesses and teams that look like they can do it. Pedigree, domain expertise, previous exits.