Bling Capital’s Kyle Lui On How Small Funds Can Better Support Young Founders

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Bling Capital’s Kyle Lui On How Small Funds Can Better Support Young Founders

On this episode of the LA Venture podcast, Bling Capital’s Kyle Lui talks about why he moved earlier stage in his investing and how investors can best support founders.

Lui joined his friend—and first angel investor—Ben Ling as a general partner at Bling Capital, which focuses on pre-seed and seed-stage funding rounds. The desire to work in earlier funding stages alongside someone he knew well drew him away from his role as a partner at multi-billion-dollar venture firm DCM, where he was part of the team that invested in Musical.ly, now known as TikTok.


Bling primarily focuses on entrepreneurs looking to raise around $1 million to $3 million who are often early in their careers as founders. Lui said Bling evaluates companies on characteristics that go beyond whether they like the founder or feel that the market looks good. Instead, he said they take a hard look at the available company data, and quickly respond.

“And we send it back to them and say, ‘Okay, this is what's working, what's not working’,” Lui said. “And then create the playbook for them on how to find product market fit and get to like, ‘These are the milestones you actually need to hit’.”

When considering companies, Lui said Bling looks at the founder, the market, the company’s current traction and differentiation while asking the founder the questions they would expect to get at Series A and Series B funding rounds.

“One thing that I really admire about what [Ling’s] built with Bling is the consistency and the processes and playbooks— everything from the way that we evaluate deals to the way that we work with our portfolio companies,” Lui said. “Everything is kind of around playbooks and operationalizing things and also iterating to do those processes better.”

As part of its work to support founders, Bling maintains an extensive product council, which connects tech executives with the founders in Bling’s portfolio. Bling also has created numerous self-serve resources for founders so they can easily tap into the fund’s network and shared knowledge.

“We have a bunch of playbooks that we introduce to companies around how to hire efficiently, how to negotiate with counterparties, how to think about the founding team, business development…We just have these different things that we start to train our entrepreneurs on,” Lui said.

dot.LA Editorial Intern Kristin Snyder contributed to this post.

Click the link above to hear the full episode, and subscribe to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

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'Open Letter' Proposing 6-Month AI Moratorium Continues to Muddy the Waters Around the Technology

Lon Harris
Lon Harris is a contributor to dot.LA. His work has also appeared on ScreenJunkies, RottenTomatoes and Inside Streaming.
'Open Letter' Proposing 6-Month AI Moratorium Continues to Muddy the Waters Around the Technology
Evan Xie

AI continues to dominate the news – not just within the world of technology, but mainstream news sources at this point – and the stories have entered a by-now familiar cycle. A wave of exciting new developments, releases and viral apps is followed by a flood of alarm bells and concerned op-eds, wondering out loud whether or not things are moving too fast for humanity’s own good.

With OpenAI and Microsoft’s GPT-4 arriving a few weeks ago to massive enthusiasm, we were overdue for our next hit of jaded cynicism, warning about the potentially dire impact of intuitive chatbots and text-to-image generators.

Sure enough, this week, more than 1,000 signatories released an open letter calling for all AI labs to pause training any new systems more powerful than GPT-4 for six months.

What does the letter say?

The letter calls out a number of familiar concerns for anyone who has been reading up on AI development this past year. On the most immediate and practical level, it cautions that chatbots and automated text generators could potentially eliminate vast swathes of jobs previously filled by humans, while “flood[ing] our information channels with propaganda and untruth.” The letter then continues into full apocalypse mode, warning that “nonhuman minds” could eventually render us obsolete and dominate us, risking “loss of control of our civilization.”

The six-month break, the signatories argue, could be used to jointly develop shared safety protocols around AI design to ensure that they remain “safe beyond a reasonable doubt.” They also suggest that AI developers work in collaboration with policymakers and politicians to develop new laws and regulations around AI and AI research.

The letter was signed by several AI developers and experts, along with tech industry royalty like Elon Musk and Steve Wozniak. TechCrunch does point out that no one from inside OpenAI seems to have signed it, nor Anthropic, a group of former OpenAI developers who left to design their own “safer” chatbots. OpenAI CEO Sam Altman did speak to the Wall Street Journal this week in reference to the letter, noting that the company has not yet started work on GPT-5 and that time for safety tests has always been built into their development process. He referred to the letter’s overall message as “preaching to the choir.”

Critics of the letter

The call for an AI ban was not without critics, though. Journalist and investor Ben Parr noted that the vague language makes it functionally meaningless, without any kind of metrics to gauge how “powerful” an AI system has become or suggestions for how to enforce a global AI ban. He also notes that some signatories, including Musk, are OpenAI and ChatGPT competitors, potentially giving them a personal stake in this fight beyond just concern for the future of civilization. Others, like NBC News reporter Ben Collins, suggested that the dire AI warnings could be a form of dystopian marketing.

On Twitter, entrepreneur Chris Pirillo noted that “the genie is already out of the bottle” in terms of AI development, while physicist and author David Deutsch called out the letter for confusing today’s AI apps with the Artificial General Intelligence (AGI) systems still only seen in sci-fi films and TV shows.

Legitimate red flags

Obviously, the letter speaks to relatively universal concerns. It’s easy to imagine why writers would be concerned by, say, BuzzFeed now using AI to write entire articles and not just quizzes. (The website isn’t even using professional writers to collaborate with and copy-edit the software anymore. The new humans helping out “Buzzy the Robot” to compose its articles are non-editorial employees from the client partnership, account management, and product management teams. Hey, it’s just an “experiment,” freelancers!)

But it does once more raise some red flags about the potentially misleading ways that some in the industry and the media are discussing AI, which continues to make these kinds of high-level discussions around the technology more cumbersome and challenging.

A recent viral Twitter thread credited ChatGPT-4 with saving a dog’s life, leading to a lot of breathlessly excited coverage about how computers were already smarter than your neighborhood veterinarian. The owner entered the dog’s symptoms into the chatbot, along with copies of its blood work, and ChatGPT responded with the most common potential ailments. As it turns out, a live human doctor tested the animal for one of the bot’s suggested illnesses and accurately guessed the diagnosis. So the computer is, in a very real sense, a hero.

Still, considering what might be wrong with dogs based on their symptoms isn’t what ChatGPT does best. It’s not a medical or veterinary diagnostic tool, and it doesn’t have a database of dog ailments and treatments at the ready. It’s designed for conversations, and it’s just guessing as to what might be wrong with the animal based on the texts on which it was trained, sentences and phrases that it has seen connected in human writing in the past. In this case, the app guessed correctly, and that’s certainly good news for one special pupper. But there’s no guarantee it would get the right answer every time, or even most of the time. We’ve seen a lot of evidence that ChatGPT is perfectly willing to lie, and can’t actually tell the difference between truth and a lie.

There’s also already a perfectly solid technology that this person could have used to enter a dog’s symptoms and research potential diagnoses and treatments: Google search. A search results page also isn’t guaranteed to come up with the correct answer, but it’s as if not more reliable in this particular use case than ChatGPT-4, at least for now. A quality post on a reliable veterinary website would hopefully contain similar information to the version ChatGPT pulled together, except it would have been vetted and verified by an actual human expert.

Have we seen too many sci-fi movies?

A response published in Time by computer scientist Eliezer Yudkowsky – long considered a thought leader in the development of artificial general intelligence – argues that the open letter doesn’t go far enough. Yudkowsky suggests that we’re currently on a path toward “building a superhumanly smart AI,” which will very likely result in the death of every human being on the planet.

No, really, that’s what he says! The editorial takes some very dramatic turns that feel pulled directly from the realms of science-fiction and fantasy. At one point, he warns: “A sufficiently intelligent AI won’t stay confined to computers for long. In today’s world you can email DNA strings to laboratories that will produce proteins on demand, allowing an AI initially confined to the internet to build artificial life forms or bootstrap straight to postbiological molecular manufacturing.” This is the actual plot of the 1995 B-movie “Virtuosity,” in which an AI serial killer app (played by Russell Crowe!) designed to help train police officers grows his own biomechanical body and wreaks havoc on the physical world. Thank goodness Denzel Washington is around to stop him.

And, hey, just because AI-fueled nightmares have made their way into classic films, that doesn’t mean they can’t also happen in the real world. But it nonetheless feels like a bit of a leap to go from text-to-image generators and chatbots – no matter how impressive – to computer programs that can grow their own bodies in a lab, then use those bodies to take control of our military and government apparatus. Perhaps there’s a direct line between the experiments being done today and truly conscious, self-aware, thinking machines down the road. But, as Deutsch cautioned in his tweet, it’s important to remember that AI and AGI are not necessarily the exact same thing.

EVGo’s Stock Surges on Better-Than-Expected Q4 Earnings

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

EVGo’s Stock Surges on Better-Than-Expected Q4 Earnings
Image from EVGo

Shares of EVgo are up over 20% today after the company released Q4 earnings that outpaced predictions from Wall Street. Analysts had predicted the company would announce a loss per share in the neighborhood of $0.16-$0.18, but the Los Angeles-based electric vehicle charging company reported a much more meager loss, to the tune of just $0.06 per share.

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How AgTech Startup Leaf Wants To Modernize the Farming Industry

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

green leaf drawing and rolling farm lands
Evan Xie

At least 50,000 acres in the state of California are estimated to be underwater after a record-breaking year of rainfall. So far this year, California has received nearly 29 inches of rain, with the bulk being dumped on its central and southern coasts. Farmers are already warning that the price of dairy, tomatoes and other vegetables will rise as the weather prevents them from re-seeding their fields.

While no current technology can prevent weather disasters, Leaf Agriculture, a Los Angeles-based startup that launched in 2018, wants to help farmers better manage their properties by leveraging data.

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