Hemant Taneja’s Post

Fantastic to see that great companies like Factorial are becoming very sophisticated about managing their balance sheet for the long term, while investing in growth. This is a place where the venture capital ecosystem can be a LOT more sophisticated as our industry takes on bigger and bigger ideas. Thanks for the partnership, Jordi Romero and Moran Laufer. Cc: General Catalyst Pranav Singhvi Karanveer Mohan

I am excited to see @Commure integrate AI technologies into its entire product suite. When we started Commure, one of our objectives was to help eliminate the burnout that care teams face in our healthcare systems. Launching Commure Scribe is an important step in that direction. cc: General Catalyst, Deepika Bodapati, Daryl Tol, Marc Harrison, Stephen Klasko

Hippocratic AI is well on its way to addressing the healthcare worker shortage around the world, and we're expanding that mission today through a $53Mn Series A investment co-led by General Catalyst and Premji Invest. Hippocratic's focus on radical collaboration with existing healthcare partners is significant: 40+ health partners across multiple countries are now working with Hippocratic to determine safe, effective use of its generative AI agents, supervised by 5,000+ nurses and 500+ physicians. The Phase II results are incredibly encouraging, with Hippocratic's AI agent showing expertise and empathy on-par with human nurses while also identifying when human expertise is required. Hippocratic's focus on low-risk, non-diagnostic patient facing services like chronic care management, pre-op and post-op follow-ups, risk assessments, and social determinants of health allow human nurses to focus on in-depth work, delivering care to patients. We're incredibly proud of the team that Munjal Shah has built since we created Hippocratic last year and are supporting their mission for years to come:

Stripe is a perfect example of how something we take for granted (online payments) is the result of incredible dedication to product, innovation, and customer centricity at massive scale. 50 new payment methods over the last year alone, processing 1% of global GDP. The best teams never stop improving. John Collison Patrick Collison https://lnkd.in/gWwssUFn

Pleasure to join the The Wall Street Journal's CIO Summit and discuss how we believe AI is as much a transformation of existing industries as it is a standalone innovation. At General Catalyst we're investing in and creating industry transformations, focused all around the world: https://lnkd.in/gmcw2sbW

This week #India's stock market cap on its exchanges became the 4th largest in the world—almost doubling in the last four years. Such an encouraging sign of market and investor confidence. We need more great companies to grow and continue to push the country forward…excited for General Catalyst to invest in the next generation of enduring companies in India

It’s a privilege to announce that Summa Health has signed a Letter of Intent to be acquired by General Catalyst’s Health Assurance Transformation Company (HATCo). We believe this is a critical step towards transforming the healthcare system in the United States and realizing the health assurance vision of proactive, affordable, and equitable care for everyone. We are focused on creating a technology-forward integrated health system that will become a model for communities around the country on how to deliver 21st century care. We believe Summa will be a testament to health assurance and become a center of excellence. We’re immensely grateful to the Summa board and leadership, including Cliff Deveny MD and Benjamin Sutton, for partnering and placing their trust in us. Together, we are committed to the Akron/Canton community for the long term. Summa has been an excellent system under your leadership and we are honored to build with you for decades to come. We want to hear from all the great founders and entrepreneurs who are focused on transforming healthcare for the better and how you can help Summa and HATCo. We’re of course honored to already work with great founders every day who are actively part of this health assurance mission and believe in the future of HATCo. Today is also an important step in General Catalyst’s journey to transcend venture capital. We ambitiously want to solve the world’s hardest problems, however that should be done. Thank you to Marc Harrison, Josette Beran, Daryl Tol, Molly Blaauw Gillis, Reva Nohria, Sing Yuen (Joey) Chan, Harish Battu, and Pranay Orugunta and the rest of the many teams who have worked hard to make this agreement a reality. More here:

EU is taking the right steps to accelerate AI innovation while making sure the applications of AI are built responsibly. I want to congratulate Jeannette zu Fürstenberg and other European leaders who stepped up to engage with the EU (and key member nations) and successfully create an environment where we can accelerate progress in society with AI. It’s worth nothing that EU is often criticized for being regulation heavy and, yet, they are taking all the right steps in favor of innovation. This is possible because the business leaders stepped up to embrace responsibility and a mindset of self regulation. Such trust between regulators and business leaders is essential to create an innovation friendly environment with minimal regulation. I am excited to see Responsible Innovation Labs lead the charge in the US to create a similar collaboration between industry and the Government to accelerate US leadership in AI. We need to have investors and founders come together, similarly, to engage with the regulations constructively to create an innovation friendly environment for developing AI. Happy Thanksgiving to everyone who celebrates! Cc: Chris Bischoff Alexandre Momeni Juliet Bailin Quentin Clark Deep Nishar Christopher Kauffman Munjal Shah Rahul Roy-Chowdhury David Luan Arvind Jain Torsten Reil Glen Tullman Tanay Tandon Deepika Bodapati Elad Walach Gaurab Bansal General Catalyst

Discussing the RIL Responsible AI Commitments with Secretary Raimondo yesterday, various members of our group of VCs advocated for: 1. Importance of preserving open source, its pivotal role in establishing AI competitiveness, reframing political fear into opportunity, and its security benefits 2. Hedging geopolitical risks and preventing our best technology from falling into the wrong anti-democratic hands while not overreacting and restricting ourselves 3. How to create better feedback cycles so government hears from founders at all stages rather than just companies with massive resources and DC presence 4. Creating trust between enterprise customers and AI start-ups 5. The need to avoid bad/over regulation (like some EU proposals), and the key differences between internal governance and regulation 6. Regulation, IF ever developed, to be at application layers, not model layers 7. The need for AI talent in government (which can also unlock massive gov’t efficiencies if implemented internally) We all want AI and our country + allies to succeed. Conversations and forums like these are how we accomplish that. And we need more diverse voices and debate from every end of the spectrum which is why we're eager to continue these conversations and bring more people in.

Today, 35+ VC firms, with another 15+ companies, representing hundreds of billions in capital have signed the voluntary Responsible AI commitments from Responsible Innovation Labs (RIL), the non-profit I co-founded. As Chairman of RIL, I’m proud to unveil this today with tech leaders and Commerce Secretary Raimondo in San Francisco. This group includes (among others): Antler, Arthur, Bain Capital Ventures, Base10 Partners, Credo AI, Felicis, Ford Foundation, General Atlantic, General Catalyst, Generation Investment Management, Inflection AI, Insight Partners, Intel Capital, IVP, Kinnevik, Lux Capital, Mayfield Fund, Radical Ventures, Ribbit Capital, SoftBank Investment Advisers, and XYZ Venture Capital. These commitments include: 1. A general commitment to responsible AI including internal governance  2. Appropriate transparency and documentation 3. Risk & benefit forecasting 4. Auditing and testing 5. Feedback cycles and ongoing improvements  In addition to the Commitments, we are publishing a 15-page Responsible AI Protocol, a practical how-to playbook to help investors and start-ups alike fulfill the commitments. Since April, our steering group of cross-societal AI experts has worked hard to understand the unique considerations and relevant and realistic standards for technologists at any stage. We strongly believe in the power of AI to transform our world for the better. Our role as investors is to advocate for our startups and the innovation economy from day 1. Everybody saw the executive order last month–the reaction in the Valley has generally been to denounce it. The reality is that right now it’s largely just reporting requirements. However, there is a risk that devolves into regulation that slows innovation down and makes America and its businesses uncompetitive. But the right path forward is to not be antagonistic towards D.C. We in the Valley need to learn that this is not about regulation vs. innovation, but about innovation at the intersection of technology, policy, and capital.    We have to embrace collaboration with our elected leaders. And as investors, we must hold ourselves accountable for what we fund and found. I want to commend the RIL team and committee for engendering trust and creating space for feedback, including with the Commerce Department and the White House.  We are facing what is likely the quickest adoption of any new technology ever in AI. It’s difficult to think about the regulatory frameworks that protect the pace of innovation as well as protect against any nefarious use cases of technology. While we all learn how this role of technology evolves, it’s important for us to be intentional about the mindset and mechanisms used in building early stage companies, as both investors and founders. We can’t wait or kick the can down the road.  We hope to see more venture firms and startups embrace this mindset, and encourage more to consider signing: https://lnkd.in/gsugHY9e.