Anti Fund Partner Geoff Woo Predicts 2026 Seed Round Decks Will Be More 'Weird'
Geoff Woo, partner at Anti Fund, predicts that next year's winning seed round pitch decks will not be more polished, but rather will appear more bizarre.
There will be a reduction in exaggerated market size presentations, with more emphasis on proving that products can survive even when AI agents perform 80% of the original paid human work.
Market Mechanism: Early entrepreneurs are adjusting pitch strategies, reshaping event-driven seed investment standards, and directing funds towards products that are resistant to replacement in the agent era; companies that can prove they remain indispensable after agents do 80% of the work will benefit, while traditional market size narrative projects will face pressure.
Source: Public Information
ABAB AI Insight
Geoff Woo has previously criticized the superficial packaging in AI investments, and this prediction continues his long-term observation of entrepreneurial logic in the agent era, emphasizing that the next round of seed companies must present unique value that agents cannot easily replace, rather than relying on TAM slides.
In terms of capital flow, investors are shifting resources from the "large market + strong team" template to validating product survival capabilities in agent-led workflows, motivated by the desire to reduce later-stage valuation bubble risks through early anti-replacement proof, capturing projects that can coexist with agents or form new barriers.
Similar cases include the shift from AI wrapper tools to agent-native infrastructure investments in 2024-2025, and the transition from traffic stories to product stickiness proof in the early internet era; current AI entrepreneurship is at a watershed moment transitioning from tool-level to structural screening in the agent era.
Structural Judgment: Essentially, this is a reconstruction of the industrial chain driven by technological replacement. AI agents performing 80% of human work shifts seed financing pricing power from market size narratives to product survival validation, with the mechanism being that investors demand to see moats that agents cannot replicate, forcing early capital to flow back from easily replaceable projects to companies with unique data, network effects, or human-AI collaborative advantages, accelerating the evolution of the entrepreneurial ecosystem from agent assistance to agent coexistence/counterbalance.
ABAB News · Cognitive Law
The weirder the deck, the longer it survives in the agent era.
The larger the market size discussed, the faster it will be replaced by agents.
Proving that "humans are still indispensable" is the true seed.