Insights, AI, and other takeaways from Upfront Summit

The venture capital scene was ablaze in Los Angeles this week at the Upfront Summit, an exclusive VC conference founded by Mark Suster and renowned for its extravagance.

The event featured Coco robots serving drinks amidst a sea of pink, with AI once again dominating conversations. Notably, the stage saw appearances from celebrities such as Lady Gaga, Cameron Diaz, Katy Perry, and Novak Djokovic.

However, this year may have felt a bit different, as it has been a challenging one for venture capital and startups seeking funding. Some media outlets even highlighted these challenges.

Keith Rabois, managing director at Khosla Ventures, briefly addressed rumors surrounding his departure from Founders Fund earlier in the year. During his time onstage, he defended his decision to move away from San Francisco.

While Rabois didn’t explicitly label people in San Francisco as “lazy,” he did mention that he knows founders who seek talent elsewhere. This is because very few individuals in San Francisco are willing to embrace the 12-hour workdays, six days a week culture that is prevalent in other cities like New York, as Rabois explained.

He later tweeted, dismissing The Wall Street Journal’s story about tech leaders returning to the Bay Area as “fake.”