The Venture Capital Landscape for Bots in 2017

Phil Libin, Managing Director at General Catalyst, and Matt Hartman, Partner at Betaworks Ventures sat down to talk about venture capital and the bot ecosystem at Botness Enterprise during SXSW.

The first question: what didn’t work in 2016?

The answer: Bots went according to plan, and everything else did not.

There are a ton of great insights in this session, including their answers to one of the most-asked questions: what are the things you look for when making an investment? What are the things that have nothing to do with bots?

Bots are at that critical point of tipping over into the mainstream – starting in 2016, we saw the first batch of design-centric products.

When asked if Evernote has a personality, Phil responded by saying that he: “tried to force the team to pick one word we want people to feel when they encounter Evernote.”  

He went on to explain, “what is the one emotion you want? With Evernote, it was ‘trust.’ It’s a good exercise for bots, too. A lot of people working enterprise cop out of that—they say ‘it’s enterprise, it doesn’t have emotion’ but if you achieve that, it’s a huge competitive advantage.”  

And, one of the most important points:

We covered the bot ecosystem at SXSW 2017 – catch up on our posts here, or follow us on Twitter for more Botness Enterprise goodness!

 

About Cassie Bannister

Director of Marketing for Message.io.