Where AI Stops in Venture: Byron Ling on the Human Read

Key points

Key takeaways from a How I Invest with David Weisburd interview with Twelve Below Partner Byron Ling on where AI genuinely helps in venture capital (September 2026):

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Where AI earns its keep. Ling argues AI is quietly reshaping venture capital, but not in the way most founders and LPs assume — at Twelve Below it earns its keep sourcing founders before they are publicly known to be raising.

Faster early diligence. It is also speeding up early diligence, cutting time on the process that precedes the investment decision.

AI stops short of the call. What AI hasn't touched, he argues, is the investment decision itself.

No product, no traction, human read. At The earliest stages, when there is no product and no traction to point to, investing remains a human-to-human read.

Wider funnel, sharper process. AI can widen the funnel and sharpen the process without replacing the investor's own judgment.

Conviction stays human. Conviction still has to come from the investor — the technology can't supply it.

Read more: How I Invest with David Weisburd (YouTube)