AI impact causing panic? Sequoia's Lin Junrui: Software companies can survive

Alfred Lin, co-CEO and partner of Sequoia Capital, stated to the media on Wednesday that software companies can withstand the current impact brought by artificial intelligence (AI). In an interview with the media on Wednesday, Alfred Lin said: “Don't forget, AI itself is a lot of software.” “Traditional software companies like Oracle still exist today.” Alfred Lin added that he believes AI will ultimately improve most companies. “The impact of AI is real,” “It will enable us to do more things that we couldn't do in the past.” In recent months, market concerns about the disruptive nature of AI have severely impacted software stocks. This week, panic trading around AI shook Wall Street again after Citrini Research released a report outlining potential risks associated with AI. In his first few public appearances since becoming co-CEO of Sequoia last November, Alfred Lin has stated that the company focuses on leveraging AI to amplify human work. He mentioned Sequoia's recent investment in Rowspace AI as an example of how AI can help people enhance efficiency and make better decisions. Rowspace, which targets the financial services industry, provides a unified platform for enterprises to connect data. Rowspace stated to the media on Wednesday that Sequoia led its seed and Series A funding rounds, with total financing reaching $50 million. Other investors in the company include Emergence Capital. Alfred Lin told the media that when using Rowspace's technology, “Humans still play a role in the decision-making process. AI allows us to do more strategic work, more creative work, and more work that truly belongs to humans.” At Sequoia, Alfred Lin has invested in companies such as OpenAI, Airbnb, DoorDash, and Kalshi. He focuses on early-stage investments and co-leads the company with Pat Grady, who is responsible for Sequoia's growth investment team. The growth team primarily focuses on more mature startups. Alfred Lin stated that Sequoia will support founders in the long term and will not be swayed by market trends, citing NVIDIA and Snowflake Inc. as examples. Alfred Lin said: “Companies that can survive long-term are on a long journey.” “They have fought for their vision for decades.” Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at their own risk