We're in the midst of an AI mania of sorts. In public markets, investors are placing bets on the companies perceived as being the winners of this new wave of computing. Companies that aren't even in "tech" are touting their AI bonafides. And of course, in private markets, every venture capitalist suddenly seems to be pivoting to AI in some way or another. But who will actually win? Will it be the big incumbents? Can those incumbents be disrupted? Will it be the companies who have access to unique datasets? Or will it be whoever has the most computing power? On this episode, we speak with Josh Wolfe, co-founder of Lux Capital, who has been investing in the space for several years, long before it was trendy. He talks about where he's placing his bets and how he's thinking about identifying winners.