Insight Partners’ Deven Parekh on why the firm is diversifying while everyone else bets the farm on OpenAI and Anthropic

The script

Panel 1

Alex and Sam are seen brainstorming in a cluttered office. Alex is holding a stack of Legora tech patents. Robin (Appears from nowhere, twirling a pen)

Alex: Hey Sam, I just found out Legora's going to General Catalyst. That's nuts! Everyone's betting the farm on OpenAI and Anthropic. What do you think?

Sam: Well, Alex, I guess they're betting on the next big thing. But you know what they say, 'Don't put all your eggs in one basket.

Robin: And you can't ignore the risk of a startup failing, right? Diversification makes sense.

Panel 2

Robin (Laughing)

Sam: Yeah, I mean, they could go boom or bust. I still think it's smart to have a few different AI labs on the side, just in case.

Alex: But Robin, you said this yourself! It's all about the next big thing. They're all betting on OpenAI and Anthropic now. How do we compete?

Robin: Now, Alex, you know I like to shake things up. You can diversify your portfolio without actually diversifying your bets. Like, go for a startup that's not even related to AI, but could become the next big thing. Who knows?

Panel 3

Alex and Sam look bewildered. Robin (Nodding)

Alex: Wait, you're saying Insight could go for a startup that has nothing to do with AI, and that's our next big thing? That's insane!

Robin: That's the smart move, Alex. Diversify your portfolio, but not your bets. It's a strategy that works. And remember, it's not just about the numbers, it's about the future you're preparing for. And sometimes, that means looking at a whole different horizon.