The dawning AI-first era is creating clear winners and losers. We’re seeing giants of the past lose ground, while companies that few initially believed in defy their sceptics. At the same time, the terms of big macro debates in the field seemingly change overnight. In this “vibe shifts” series, we’ll be diving into some of these stories and drawing a few lessons for entrepreneurs and investors.

Here we dive into the vibe shift around existential risk.