Foster sisters explain why they haven't invested in AI
Oversubscribed Ventures co-founder Sara Foster (above right) made a confession onstage on Monday at TechCrunch Disrupt 2024
“I don’t even have ChatGPT on my phone,” she said.
It’s an unexpected comment from an investor, given that ChatGPT is arguably the most influential product to launch this decade. But what makes the Foster sisters different from career venture capitalists is also their greatest strength: they’re creatives first, and tech industry investors second.
Across their careers, the Foster sisters, Erin and Sara, have co-founded the clothing line Favorite Daughter, co-led creative for Bumble Bizz and Bumble BFF, and currently co-host a podcast together. Erin Foster even created the top Netflix show “Nobody Wants This,” starring Kristen Bell.
“Even calling it Oversubscribed Ventures was really a nod to our sense of humor because we know that this is not a space that we naturally belong in,” Erin said onstage at TechCrunch Disrupt 2024. “We aren’t trying to cosplay as fund managers, you know? We’re trying to be ourselves and take our unique point of view, and our skill sets, and bring it into this world and inject that in an authentic and honest way without pretending to be anything different than we are.”
In the spirit of being authentically themselves, the Foster sisters opened up onstage about why they’re reluctant to invest in AI.
“If we don’t understand it, we don’t invest in it,” said Sara.
For Erin, a TV writer, the rise of generative AI and its impact on creators is more personal.
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