Benchmark坦承：AI浪潮正动摇创投“不投竞争对手”的默契
TechCrunch · 2026-10-15
Benchmark合伙人在TechCrunch Disrupt坦言，AI公司扩张太快，投资组合间利益冲突难免；OpenAI与Anthropic已共享数十家投资人。创投“不投对手”默契松动，但早期排他性仍被视为重要。
学习单字
- unwritten rule不成文规定，业界普遍遵守但未明文化的惯例。
- compete head-on正面竞争，指两家公司在同一市场直接抢夺相同客户。
- board observer董事会观察员，可列席董事会但无表决权，常由投资人指派。
Even Benchmark says AI is eroding the VC pact against backing rivals
At TechCrunch Disrupt, Benchmark's partners conceded that fast-moving AI companies make conflicts between portfolio firms hard to avoid. OpenAI and Anthropic now share dozens of investors, and a dispute between Factory and Cognition pulled in Khosla, which backs both. Benchmark says exclusivity still matters at the earliest stage.