…I took a look at the 80 businesses which Bond Capital cite that they are invested in.

Of those 80 brands:

- 27 self-declare themselves to effectively be in the AI Kool Aid space
- a further 5 are what I would describe as AI-affiliated
- 3 are more in the space of machine learning (i.e. without full-on AI-goggles wrapped around them)
- 3 are in the crypto space (one in NFTs!)

So I wonder how Substack’s funding runway looks when the AI bubble bursts for 40% of its principal investor’s bets?