AI shock causes panic? Sequoia's Lin Junrui: Software companies can survive

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Alfred Lin, co-head and partner at Sequoia Capital, said to the media on Wednesday that software companies can survive the current wave of impact brought by artificial intelligence (AI).

Lin said in a media interview on Wednesday:

"Don't forget, AI itself is a lot of software."

"Traditional software companies like Oracle still exist today."

Lin added that he believes AI will ultimately improve most companies.

"The impact brought by AI is real,"

"It will enable us to do many things we couldn't do before."

Over the past few months, concerns about the disruptive nature of AI have hit software stocks hard. This week, after Citrini Research released a report outlining potential risks AI could bring, panic trading around AI once again shook Wall Street.

In his first few public appearances since becoming co-head of Sequoia last November, Lin has said the company focuses on using AI to amplify the current work outcomes of humans. He mentioned Sequoia's recent investment in Rowspace AI as an example of how AI helps people improve efficiency and make better decisions.

Rowspace serves the financial services industry by providing enterprises with a unified platform to connect their data. Rowspace told the media on Wednesday that Sequoia led its seed round and Series A financing, with a total financing amount reaching $50 million. Other investors include Emergence Capital.

Lin told the media that when using Rowspace's technology,

"Humans still play a role in the decision-making process. AI enables us all to do more strategic work, more creative work, and more genuinely human work."

At Sequoia, Lin has invested in companies such as OpenAI, Airbnb, DoorDash, and Kalshi. Lin focuses on early-stage investments and co-leads the company with Pat Grady, who head's Sequoia's growth investment team. The growth team mainly focuses on more mature startups.

Lin stated that Sequoia will support founders for the long term and won't waver because of stock market swings, citing Nvidia and Snowflake Inc. as examples. Lin said:

"Companies that survive for the long term are on a long journey."

"They strive for their vision for decades."

Risk Warning and DisclaimerThe market involves risk, and investment should be prudent. This article does not constitute personal investment advice and has not considered individual users' unique investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article suit their particular circumstances. Investment based on this is at your own risk. ```