Why AI infrastructure investing is off-limits for most seed funds

how do you navigate in a world where AI infrastructure probably off limits and doesn't really make sense for a lot of seed investors, and now it's the application level?

Yeah. I think it's such a good point. Right? Because that's another one of the factors. It's that where a lot of the action was most exciting, I think, over the the prior four or five years was in the infrastructure side of things, which doesn't really lend itself that well to most into the seed model broadly. There's some folks who do actually a very good job of this. Like, I think Ed Sim at Boldstar is effectively infrastructure oriented investor, and there's some others. But, yes, the capital intensity ends up being really tough for the seed players.