Jason Calacanis Eyes Decentralized AI
Early Uber investor Jason Calacanis recently discussed decentralized AI protocol Bittensor ($TAO) as the future. The conversation signals growing interest from mainstream venture capitalists in the intersection of Web3 and AI, potentially opening up new funding avenues for decentralized projects.
Jason Calacanis has gone beyond just talk, launching Stillcore Capital, a fund specifically focused on investing in Bittensor's native token, $TAO, and assets within its "subnet" ecosystem. This move signals a deeper commitment than a mere mention, providing a new vehicle for institutional capital to enter the decentralized AI space. Bittensor was created by former Google AI engineer Jacob Steeves and Ala Shaabana. It operates on a unique "Proof of Intelligence" consensus mechanism, rewarding participants with $TAO tokens for contributing valuable machine learning models, rather than for pure computational power like Bitcoin. This structure aims to create a constantly improving, decentralized intelligence network. The network is organized into specialized "subnets," which function as competitive, peer-to-peer marketplaces for specific AI tasks like text generation or data analysis. This design allows for the creation of a wide range of AI services on a single, open platform, aiming to challenge the dominance of centralized AI development by large tech corporations. The broader venture capital landscape is increasingly targeting this sector. Over the last decade, decentralized AI companies have raised more than $1.41 billion in funding. Firms like Hack VC are dedicating significant portions of their portfolios to decentralized infrastructure, betting that open, community-owned AI will be a necessary counterweight to the concentration of data and power in Big Tech. This fits Calacanis's established pattern of making early, high-conviction bets on transformative technologies. His initial $25,000 angel investment in Uber, for example, was made when the company was valued at just $5 million. His focus on Bittensor represents a similar thesis applied to the future of artificial intelligence. This trend has strong local relevance, as Los Angeles is rapidly solidifying its position as a top-tier tech hub. The LA area now ranks as the #4 startup ecosystem globally and the second-largest in the U.S. for AI funding, with over 500 venture capital firms operating in the city.
