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AI has turned a corner in Hollywood as major studios increasingly adopt it to gain efficiencies in production, marketing, and visual effects.
Elsewhere, AI startups have been raising millions of dollars from venture capital firms on the promise of changing the legacy Hollywood film and TV business.
The tools they are building are being used across the production cycle. Some, like Moonvalley, are enhancing special effects. Others are promising to help with marketing, content distribution, and content discovery.
It's a challenging time for Hollywood. Budgets generally aren't what they used to be, and studios know they need to do what they can to make projects faster and cheaper. Enter AI.
Netflix and Amazon have talked about how they're using AI to pull off elaborate special effects and improve the viewing experience. Lionsgate is partnering with startup Runway to train an AI model on its library. Others in Hollywood are using AI but not talking about it.
At the same time, many are worried about tech giants using AI to appropriate their IP. Studios have taken issue with OpenAI's Sora generating videos that encroach on their copyrighted characters. Disney and Universal sued Midjourney, accusing it of using tech to rip off Star Wars, Minions, and more.
Studios must also be sensitive to talent's fears of being supplanted by AI as well as audiences' attitudes. A YouGov survey in early October found viewers were mixed on the use of AI. People were most accepting of AI being used to translate subtitles into other languages (64% for), but least accepting of the idea of AI characters replacing human actors (65% against).
How are AI founders pitching investors and Hollywood insiders on their vision of the future?
Business Insider has interviewed the founders of startups behind tools to disrupt traditional TV and filmmaking. They shared the pitch decks they used to raise capital.
Read 9 pitch decks AI startups used to raise millions to disrupt Hollywood:
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At law firms, the billable hour is the standard way to charge clients. But timekeeping is a pain.
The startup PointOne says it's using AI to help lawyers auto-complete timesheets and bill more time.
PointOne raised $16 million in a funding round led by the venture capital firm 8VC.
Tracking hours is part of how lawyers get paid. It's also the bane of the profession.
A startup called PointOne wants to eliminate the most tedious part of a lawyer's job. It says its AI-powered platform passively tracks a lawyer's computer activity and uses it to complete timesheets.
The company grew revenue tenfold since July, says PointOne cofounder Katon Luaces, after signing up dozens of law firm customers, ranging from a global 1,200-lawyer outfit to solo practitioners.
Investors are taking notice. After making a small earlier investment, the Joe Londsale-founded venture firm 8VC is leading a $16 million Series A round for PointOne, Luaces tells Business Insider. Existing investors Bessemer Venture Partners, General Catalyst, and Y Combinator also participated.
Founders are flooding into legal tech, betting they can turn large language models into products law firms will trust — and competing for attention in an estimated $1 trillion industry.
Jack Moshkovich, an 8VC partner, said the market is crowded with companies trying to help lawyers do work faster. That leaves more whitespace, he said, on the operational side of the business.
Luaces isn't a lawyer. In 2019, he was a computer science major and a Google intern as the company's researchers were laying the groundwork for modern large language models.
He saw legal work as a natural target for the technology because so much of it is repetitive and text-heavy. By 2023, he and his roommate, Jeremy Ben-Meir, along with a third cofounder, Adrian Parlow, started sketching out an idea for a legal startup. (Parlow left PointOne last year and joined legal-tech giant Legora.)
When Luaces asked lawyers which part of the job they hated most, he kept hearing the same answer: timekeeping. At most law firms, the billable hour is the standard way to charge clients. Lawyers log the work they do for each client — often in six-minute increments — then tally those hours and bill accordingly. Many still track their hours in a spreadsheet or by hand on a legal pad.
PointOne's platform runs in the background as lawyers move between apps, then fills in time entries with the client, matter, a description of the work, and standardized legal codes.
Security and confidentiality are essential for law firms. Clients trust them with trade secrets and other closely held information, leaving little room for error from any software vendor.
When asked how lawyers feel about software watching them work, Luaces said their dislike of timekeeping helps overcome any discomfort. PointOne says it encrypts stored sensitive data, does not train models on firm data, and gives firms the option to use models in a private Azure environment.
For lawyers, "this is like magic beans," Luaces said.
Time savings aren't the point
Law firms are still working out how to use artificial intelligence to work faster without hurting their economics. Software that saves time can also reduce the number of hours a firm can bill.
PointOne, however, is not pitching itself as a way to save lawyers' time. Instead, it says it can help firms capture time that would otherwise go unbilled.
Some share of legal work never makes it into timesheets. Junior lawyers may undercount how long a task took, either because they're still learning or because they're embarrassed. More often, Luaces said, lawyers skip billing for small tasks because logging them takes almost as long as the work itself.
A lawyer might spend four minutes writing a client email. "I can either spend the next four minutes creating the time entry for it, or I can do more work," Luaces said. "Nine out of 10 times, everyone chooses to do more work."
He says the company's software can increase revenue by capturing billable time that would otherwise be lost.
PointOne isn't the only company making such promises. Its biggest competitor, Laurel, provides professional services firms with analytics about their operations, including time. It's raised over $150 million in funding since 2016, compared to PointOne's $20 million total.
PointOne wants to position itself for a broader shift in how legal work gets priced. Corporate clients are pushing back on soaring legal bills, and as artificial intelligence threatens to trim billable hours, firms are under pressure to test alternatives to hourly billing, including fixed fees for certain matters. Luaces said PointOne's data can help firms better understand the labor behind a matter, which in turn can help them price that work more precisely.
"It's a problem at work, and it's a problem at home," Marc Andreessen said of introspection.
Michael Kovac/Getty Images for Vanity Fair
A16z cofounder Marc Andreessen recently said he practices introspection "as little as possible."
The internet lit up with memes, challenging his theory that the "great men of history didn't sit around doing this stuff."
Critics pointed to historical figures like Marcus Aurelius, John D. Rockefeller, and Warren Buffett.
Marc Andreessen is not digging deep within himself. He's proudly anti-introspection.
The cofounder of Andreessen Horowitz said in a recent interview that he isn't big on self-reflection. In fact, he told David Senra that he aims for "zero" introspection — or "as little as possible." He wants to be moving forward, he said, drawing an upward slope with his hand.
"I found people who dwell in the past get stuck in the past," Andreessen said. "It's a real problem. It's a problem at work, and it's a problem at home."
Andreessen also said that the "great men of history didn't sit around doing this stuff."
After Senra posted the clip online, X users sounded off in the comments — and quickly memed Andreessen's words.
Great men of history had little to no introspection.
The personality that builds empires is not the same personality that sits around quietly questioning itself. @pmarca and I discuss what we both noticed but no one talks about:
"That's not true," Graham wrote. "Do you not feel that Charles Darwin, for example, was among the great men of history?"
SoFi CTO Jeremy Rishel called Andreessen's take "absurdly wrong," citing examples such as Marcus Aurelius and the US founding fathers. Fifty Years founding partner Seth Bannon pointed to other examples, like John D. Rockefeller and Warren Buffett.
AppClub founder Preston Attebery pointed to a moment when Steve Jobs seemed introspective. After being ousted from Apple, Jobs told Newsweek that he "went for a lot of long walks in the woods and didn't really talk to a lot of people."
"They are telling you to forget about introspection while they go on podcasts to introspect," Opendoor product manager Fahd Ananta wrote.
Others defended Andreessen. Serial entrepreneur Ryan Carson wrote that he didn't have the patience for introspection, journaling, or therapy. The clip "made me feel less bad about it," he wrote.
Podcast host Rob Wiblin wrote that Andreessen was actually criticizing rumination, "which really is harmful most of the time."
Elon Musk posted on X: "Reinforcing negative neural pathways via therapy or introspection is a recipe for misery. Don't cut a rut in the road."
Introspection was the combination of neuroticism, narcissism, and thumbsucking, the venture capitalist wrote.
When one interviewer asked Steve Jobs an introspective question — where he fits in the history of American inventors — Jobs responded, "I don't really think that way." Andreessen reposted the clip with one word: "Well."
“Steve Jobs’ years of introspection resulted in him making a decision I disagree with, therefore he did not have any sort of introspection”
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