Karim Gillani has had a front-row seat to some of the most important shifts in technology and finance over the past two decades. From early days in mobile payments to leading M&A at companies like Xoom and PayPal, and now as a co-founding General Partner at Luge Capital, his perspective on venture capital is shaped by real operational experience.
In this conversation, Karim breaks down how the rules of building and investing in startups are changing - fast.
One of the biggest shifts? AI has fundamentally altered what it means to build a company. What used to take teams of engineers can now be done in days. Speed, once a key signal of a strong founder, is no longer a differentiator. Instead, investors are now focused on what makes a business truly defensible.
That means looking beyond code.
Karim explains that the most valuable companies today are built on things that are hard to replicate: proprietary data, unique distribution, deep domain expertise, and strong relationships. In a world where anyone can build software quickly, those non-technical advantages matter more than ever.
He also shares how venture capital itself is evolving - from how funds are raised to how deals are sourced and evaluated. While inbound deal flow is abundant, the best opportunities still come through trusted relationships developed over time.
For founders, the takeaway is clear: building a great product is only half the equation. The ability to sell, adapt, and navigate uncertainty remains critical.
This episode is a practical look at how AI is reshaping not just startups, but the entire venture ecosystem.
