He Leads AI Investing At A $2.4B VC. Here’s Why He Says The AI Bubble Debate Is Wrong

Everyone is asking whether AI is in a bubble. Fewer people are asking the right question.

In this episode of Machine Dreams, we sit down with Guy Dassa, Investment Partner at OurCrowd, Israel’s most active VC with over $2 billion assets under management, and head of its AI portfolio, to unpack what is really happening behind today’s AI investment frenzy.

From infrastructure and foundational layers to applications, valuations, and so-called “round-tripping,” Guy explains why AI is not a repeat of the dot-com era and where long-term value is actually being built.

We explore how serious investors think about hype versus fundamentals, why picks-and-shovels matter more than headline apps, how Israel fits into the global AI ecosystem, and what founders need to understand if they want to raise capital in 2025 and beyond.

This is a rare, candid look at AI investing from someone deep inside the market.