The AI talent arms race is a key driver: founders with OpenAI or similar pedigrees command premiums, while investors like Amber Atherton of Patron note that $4 million to $5 million average check sizes now reflect the cost of securing top engineers. Startups must demonstrate not just product-market fit but a roadmap to $50 billion+ outcomes, with investors betting on founders’ ability to scale faster than competitors. For founders, the pressure is acute: $2 billion seed valuations, like Mira Murati’s Thinking Machine Labs, underscore the stakes of early-stage success.