Venture capital turns to hardware bets as AI threatens software companies
- Jun 2
- 1 min read
WALL STREET JOURNAL — The heavy investment represents an expansion beyond the low-overhead consumer internet and software startups that defined Silicon Valley for the past two decades. For many of the VC firms, the shift means putting money into sectors that are novel to them, far from guaranteed to win and that carry new risks.
“There is a huge pivot into deep tech,” said David Byrd, a general partner at BlueYard Capital. Many investors, he said, are realizing that “the thing I was doing in the past of backing the [business] software company isn’t going to work in the future.”
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