Explore the world of Foundation Models and Generative AI in this informative talk by Jon Turow, Partner at Madrona Venture Group. Delve into the industry-shaking impact of Large Language Models like GPT, Dall-e, and Stable Diffusion, and discover how they're reshaping product ideas and business models. Gain insights into the evolving landscape of AI, understand how startups and enterprises are adapting their strategies, and learn about investor perspectives on where value will accrue in this rapidly advancing field. The presentation covers topics such as the hype surrounding AI, the accelerating pace of innovation, comparisons between proprietary and open-source models, and implications for the future. Conclude with a Q&A session to further explore this transformative technology.