Ethan Kurzweil, a veteran venture capitalist and managing partner at Chemistry, discusses the evolving landscape for startups, highlighting the shift from the boom of the 2010s to today's challenges, particularly in AI and computing resources. He shares insights on valuation strategies, the impact of incumbents versus new entrants in AI, and the potential for technology to democratize access. Kurzweil also reflects on investment opportunities and lessons learned from past AI winters.