NEA’s Tiffany Luck says enterprises are still figuring out their AI ROI | Equity Podcast

Short summary

Tiffany Luck (NEA partner) discusses why enterprises are struggling with AI ROI despite the "tokenmaxxing" hype early 2026. Companies like Uber burned through annual AI budgets in months, prompting cutbacks. Real value is emerging in personal agents, infrastructure, and forward-deployed engineers.

• •Tokenmaxxing trend led enterprises to rapidly exhaust AI budgets; Uber and Meta have already pulled back
• •Enterprise AI ROI remains unresolved; focus shifting to personal agents and infrastructure opportunities
• •Forward-deployed engineers and compute costs are where startup defensibility and value creation sit

Generated with AI, which can make mistakes.