Thrive’s Joshua Kushner chides Silicon Valley VCs over AI euphoria

Joshua Kushner used Thrive Capital’s first-ever investment letter to caution that enthusiasm around AI should not override rigorous dealmaking. He said the AI opportunity is enormous, but warned that weakening investment discipline would be a serious mistake.

The warning reflects growing concern that AI funding is entering a more speculative phase as investors race to back perceived category winners. If top firms publicly emphasize restraint, it may signal a shift toward more selective AI investing and tougher expectations for startups seeking capital.