This episode of The Backchannel breaks down how the expectations for early-stage founders have shifted in the AI era. Inspired by a conversation with Jeff Bussgang—Harvard Business School professor and author of The Experimentation Machine—we explore what venture capitalists are looking for before investing. From validating your idea to leveraging AI and affordable global talent, the bar for getting to product-market fit is higher than ever. If you're building a startup or gearing up to raise funding, this episode lays out what it takes to stand out.