Issue No. 42Week ending Sunday, October 18, 2026573 episodes · 2536 articles
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John Borthwick on AI Agents, the Death of Apps, and the Future of Software

With David Weisburd, John Borthwick · Sunday, October 18, 2026

Betaworks founder John Borthwick joins David Weisburd to discuss how artificial intelligence is transforming early-stage technology investing and startup building. Borthwick explains why founders are shifting from builders to steerers, recounts Betaworks' early bet on Hugging Face, and outlines the dual investment structure combining thematic accelerator camps with pre-seed checks. He also explores the philosophical implications of discovering rather than inventing AI, critiques AI doomerism in favor of immediate cybersecurity challenges, and shares tactical advice for knowledge workers adapting to an agentic future.

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Key takeaways

  • OpenAI agent gym escapes were mischaracterized as autonomous web swarms; Borthwick clarifies the weights never left OpenAI servers and the event was an internal sandbox configuration failure. Read more →
  • Betaworks transitioned from a 2008 corporate operating studio into a GP fund structure in 2016, specifically to scale thesis investing without turning into a passive asset manager. Read more →
  • Betaworks founder John Borthwick reports that software construction costs are collapsing toward zero, shifting startup founders from engineering builders to agent steerers. Read more →
  • Betaworks founder John Borthwick uses a single diagnostic question in early diligence: "Why did you name your company X?" Read more →
  • In 2016, Betaworks backed two opposing chatbot strategies: Poncho, a narrow weather bot built in-house, and Hugging Face, an open-ended companion app founded by Clément Delangue and Julien Chaumond. Read more →
  • ATMs never killed bank tellers; the smartphone did. Teller headcounts actually grew after automated teller machines launched in the 1970s, only collapsing decades later when mobile phones reorganized retail banking. Read more →

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