Three Investors Share Their Vision for the Next Decade

As we stand at the threshold of unprecedented technological transformation, venture capitalists are positioning themselves to identify the next wave of breakthrough companies. We spoke with three prominent investors, Karol Lasota, Raya Yunakova, and Julius de Gruyter, to understand their perspectives on where the biggest opportunities lie, what founders they’re backing, and how valuations are evolving. 

Which Industries Are Most Ripe for Transformation?

Karol Lasota believes consumer-facing businesses will see the biggest transformation. “Building products that deliver dramatically better experiences for users has never been easier, and the barriers to reaching millions of people are lower than at any point in history,” he explains. 

Raya Yunakova focuses on manufacturing and education as the sectors primed for material transformation. In education, she sees AI enabling personalized learning that traditional classrooms can’t match, weakening the dominance of degrees in favor of “microcredentials, certifications, and project-based portfolios that better reflect real skills.” For manufacturing, she points to automation, AI, and robotics driving a new industrial revolution, accelerated by supply chain instability and labor shortages.

Julius de Gruyter takes the broadest view: “AI is changing everything right now, and no industry is an exception.” However, he particularly highlights large manufacturers and industrial companies, which have historically been slow to digitize but can now “adapt to AI much faster” because AI can work directly with unstructured data, delivering efficiency gains from day one.

While all three acknowledge AI as a transformative force, their sectoral focus varies significantly. Lasota emphasizes consumer accessibility and reach, Raya identifies structural inefficiencies in traditional industries, and Julius sees universal transformation with particular opportunities in industrial sectors. The common thread is their belief that technological barriers to innovation have dramatically lowered, enabling rapid transformation across different market segments.

What Kind of Founders Will Define the Next Generation?

Karol Lasota champions founders “who move with speed, iterate relentlessly, and take bold risks.” He particularly values the fearlessness that often comes with youth and having “nothing to lose,” which makes founders willing to chase new opportunities. Current technologies, he notes, enable them to move faster than ever before.

Raya Yunakova emphasizes resilience over flash. “The next wave of founders won’t just be the ones with big ideas—they’ll be the ones stubborn enough to keep going when the shine wears off,” she explains. Her focus is on founders who can move beyond the fake-it-till-you-make-it phase to deliver “outstanding solutions that are economically viable” when the initial excitement fades and real execution begins.

Julius de Gruyter seeks “bold founders and startups that aspire to build generational companies out of Europe,” specifically those with “the ambition to create Europe’s first trillion-dollar company.” While valuing boldness, he also emphasizes being “commercially minded and able to demonstrate early traction” to differentiate in a landscape where building prototypes has become trivial.

All three investors prioritize execution over pure innovation, but they emphasize different dimensions of founder excellence. Karol values speed and risk-taking, Raya focuses on persistence and commercial viability, while Julius combines global ambition with early validation. The consensus is clear: in an era where building has become easier, the founders who can effectively execute and demonstrate real market traction will stand out.

How Will Valuations Shift with New Technologies?

Karol Lasota presents a nuanced view on AI’s valuation impact. “AI-first companies can generate cashflow from day one, scale faster, and have the potential to create multiple trillion-dollar outcomes over the next 10–20 years. Outliers will naturally command higher valuations. But at the earliest stages, I don’t expect valuations to rise dramatically – building has become cheaper and faster, so founders need fewer resources. Speed, not capital, is the main advantage.”

Raya Yunakova predicts a return to fundamentals. “Valuations will start to reward resilience and attention to detail over hype. As capital gets more selective, businesses built on defensible tech, real traction, and efficient growth will command a premium. Flashy pitches won’t hold weight without strong unit economics or a clear moat. Startups leveraging new technologies will still see increased valuations, but only if they show they’re solving real problems, not just riding trends.”

Julius de Gruyter offers a more decisive perspective on AI’s impact. “AI has completely changed the benchmarks: we are seeing companies reach seven-figure ARR in weeks rather than months or years. This means that any <<old SaaS>> company not adapting to AI will inevitably be compared against these new players and will struggle to raise at higher valuations. As with any hype cycle, we are also seeing inflated valuations for some companies. But with AI, I strongly believe we’ll see both: some players failing to meet expectations, and many others creating tremendous value, becoming multi-billion or even trillion-dollar companies.”

The three investors agree that the valuation landscape is shifting significantly, but they differ on the implications. Karol sees lower capital requirements potentially moderating early-stage valuations, Raya expects increased scrutiny on fundamentals, and Julius highlights the emergence of new performance benchmarks. All recognize the hype cycle dynamics but maintain that substantial value creation opportunities exist for companies that can deliver real results.

Join the Conversation at How to Web

Karol Lasota, Raya Yunakova, and Julius de Gruyter reveal a dynamic investment landscape where speed, resilience, and commercial viability are becoming the key differentiators. 

While AI is universally acknowledged as transformative, success will ultimately depend on founders who can navigate beyond the hype to build sustainable, scalable businesses.

Whether you’re an entrepreneur seeking funding, an investor looking for deal flow, or simply curious about the future of innovation, these perspectives offer valuable guidance for the road ahead. The transformation is happening across industries, but the specific opportunities and approaches will vary significantly based on sector dynamics and execution capabilities.

Ready to dive deeper into these conversations? Join them and hundreds of other investors, founders, and builders at How to Web Conference 2025. Connect directly with the people shaping the future of technology, share your own insights, and discover the opportunities that will define the next decade of innovation.

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See you at How to Web Conference 2025!