Sarah Guo, a prominent venture capitalist, is betting that frontier AI labs like Anthropic, OpenAI, xAI, and Waymo cannot build every product and company on top of their models, creating opportunities for startups. In Q1 2026, $300 billion in venture capital was deployed, with 65% going to these four companies alone.
Venture capital is heavily concentrated in a few frontier AI labs, but a prominent investor is actively backing startups to challenge their full-stack ambitions.