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Even Benchmark thinks AI is eroding the venture pact against backing rivals

TechCrunchOctober 16, 20263 min read

Benchmark says the Valley’s rule against backing rivals is getting harder to keep.

For decades, the unwritten rule of venture capital was that a firm doesn’t back two companies that compete head-on. But speaking at TechCrunch Disrupt earlier this week, the partners of Benchmark readily acknowledged that the AI boom is straining that rule. It’s been on the verge of snapping for some time. The towering AI labs OpenAI and Anthropic share dozens of the same investors at this point.…

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