2025创业报告：人工智能时代的创业之道（英）

STARTUP 2025BUILDING A BUSINESS IN THE AGE OF AIWhat venture capitalists are looking for from cutting-edge AI foundersTABLE OF CONTENTSThe Future Starts Right Here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3AI Investment in 2025: Bubble, Rising Tide or Both? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5ARR vs. ERR: Weighing Experimental Income for AI Startups . . . . . . . . . . . . . . . . . . . . . . . 8Pricing Software in the Age of AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10Product Roadmap: Separating Signal from Noise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12The Pull of Data Gravity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14The KPIs That Matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15GTM and Partnerships for AI-Native Startups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17How AI Founders Nail the VC Meeting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Early Days, Distant Horizons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21Next Steps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22Table of Contents | 2 STARTUP 2025: BUILDING A BUSINESS IN THE AGE OF AITHE FUTURE STARTS RIGHT HEREWe’re told, repeatedly and fairly convincingly, that the vanguard of advanced AI technology being led by large language models and generative AI is going to fundamentally change the world. The work being done in labs and office parks, the funding decisions being made by venture capital firms, will cumulatively catapult the world into a new era.But if AI is going to change everything, surely it will start with that very process, the way the businesses bringing AI to market are born and nurtured. It seemed like a smart theory, and it matched what we were seeing from the new businesses work