​AI INSIDER'S LUNCH

​AI Investing in 2026 — Hype vs. Reality

​Join us for an intimate lunch and candid conversation with Itamar Novick, Founder & General Partner at Recursive Ventures, as we explore where the real opportunities in AI are emerging—and where the hype may be getting ahead of reality.

​When: Wednesday, March 11
Where: FUMI JOE, Hong Kong
Format: Short talk + open Q&A + discussion over lunch

​AI continues to dominate headlines, with $200B+ invested in 2025 and unprecedented momentum across the startup and venture ecosystem. Yet despite the excitement, many AI pilots still struggle to reach production, and the landscape is evolving faster than ever.

​During this interactive lunch, we'll discuss the key trends shaping AI in 2026, including:

• ​Where real value is accruing across the AI stack — models, infrastructure, data, and applications

• ​Why AI-native startups may disrupt legacy SaaS companies

• ​The rise of vertical AI and domain-specific models

• ​How new startup and funding models are emerging in the AI era

​Expect a frank Silicon Valley insider perspective, along with plenty of time for discussion with fellow investors.

​About Itamar Novick

​Itamar Novick is the Founder & General Partner of Recursive Ventures, a Silicon Valley venture capital fund focused on pre-seed and seed investments in AI and data companies.

​Over the past 20+ years, Itamar has been a serial entrepreneur, operator, and investor, including:

• ​Executive at Life360 (NASDAQ: ~$4B market cap)

• ​Co-founder of Gigya, acquired by SAP for $350M

• ​Investor in 2 decacorns and 5 unicorns

​About Recursive Ventures

​Recursive Ventures is a Silicon Valley VC fund investing in early-stage AI and data companies.

​The fund has backed companies including:

​Deel, Life360, HoneyBook, Placer.ai, Credible, May Mobility, Tile, SafeGraph, Cherre

​Recursive has been named to Business Insider’s Seed 100 for four consecutive years.

​Fund performance highlights

• ​Recursive I: 4.6× DPI, 8.2x MOIC

• ​Recursive II: 4.4× DPI, 9.9x MOIC

​A Few Hot Takes

• ​Investors may be over-indexing on foundation models, while much of the long-term value will accrue at the application layer

• ​AI-first startups will challenge pre-AI SaaS incumbents across multiple sectors

• ​Saying “everything is AI” is as broad as saying “everything is software,” where context and verticalization matter

• ​The venture ecosystem itself is evolving, with new funding models and AI-powered venture workflows