Episode #159
Most AI Is Hype. Here’s What Actually Makes Money | Eric Bidinger
Episode #159: After 17 years in private equity, Eric Bidinger switched sides of the table and became a founder. And building companies turned out to be very different from analyzing them. In this episode, we sit down with Eric, founder of Ask Luca, to talk about the role luck really plays in business, how entrepreneurs can increase their "luck surface area," and what years in private equity taught him — and failed to teach him — about actually building a company. We also dive into the current AI boom: why Eric believes many of the flashiest AI use cases are overhyped, why some of the most boring applications are creating the most value, and how AI could eventually understand a business well enough to underwrite it better than a traditional bank. We get into: • Why great operators can still lose in bad markets • AI hype vs. AI reality • The boring AI applications that actually work • Using AI to understand cash flow and business performance • Why Ask Luca is moving toward business financing • What private equity may be getting wrong about AI roll-ups • Why clean data matters more than sophisticated AI • Increasing your luck surface area • Handling the extreme highs and lows of entrepreneurship • Why Eric is proud he chose something hard A conversation about AI, investing, entrepreneurship, luck, and what changes when you stop analyzing businesses and actually have to build one. The Twin Project with Lucas & Marc.
