With his investments in Apple and Venmo, Alan Patricof, the venture capitalist who started Apple and Venmo, has a warning about an AI bubble.
's the flavor of the month,' said Patricof during a Thursday interview with the New York Post.
The best way to get into AI is to get into a company that has learned how to use AI as a tool instead of buying into an AI platform, Gupta said in a statement.
The 88-year-old investor has been a successful venture capitalist for a long time. In addition to AOL, Apple, and Audible, he has been investing in VC firms such as Greycroft and Apax Partners. Patricof was one of Apple's earliest investors.
And Patricof isn't alone in worries about an AI bubble.
Emad Mostaque, the CEO of Stability AI, said in July that he thinks AI will be the biggest bubble of all time, comparing the hype surrounding AI to the dot-com bubble of the late 1990s.
The former economist David Rosenberg and James Penny, a CIO of TAM Asset Management, have made similar comparisons between AI and the dot-com bubble.
To be sure, others such as retired Wharton professor Jeremy Siegel and Dan Raju, the CEO of fintech and brokerage firm Tradier, disagree with the comparison.