Benchmark says AI is eroding VC pact against backing rivals

Benchmark partners Eric Vishria, Chetan Puttagunta and Peter Fenton said at TechCrunch Disrupt that AI is eroding venture capital's pact against backing rivals. Fenton called backing rivals "kryptonite" and the firm's toughest problem. Vishria cited rapid pivots making conflicts inevitable; Puttagunta cited near-zero software costs pushing startups into each other's turf.