Joined May 2025
Photos and videos
Congrats to @ManevaAI on the $27M Series A! The average factory still runs at just 60% efficiency - a $10T annual drag globally. That’s no longer a hardware problem :)
Jun 10
Maneva has raised $27M in Series A led by @USVenturePartners, with continued backing from existing investors @BlingCapital, @FreestyleCapital, and several others. Our total capital raised now sits at $38.4M. Global manufacturing runs at 60% efficiency against a $46T industry. That's $18T lost every year from lack of visibility and the right tools. Our Video-to-Action AI turns existing factory cameras into real-time operational decisions, powered by deep learning vision and agentic systems that act, coordinate, and optimize the entire operation. A special thank you to @mdgarratt and the @USVenturePartners team for leading this round. To our customers, partners, and investors: thank you for believing in what's possible on the factory floor. maneva.ai/resources/resource…
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Lucid Ventures retweeted
Raising Lucid Ventures: operator-led seed fund focused on AI-native enterprise tech. Founder of Karen AI (acq. by AMS) & CTrade. Partnered with D2L co-founder Jeremy Auger.
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Lucid Ventures retweeted
Thrilled to announce that @JeremyAuger has joined me as co-founder of @Lucid_VC After co-founding, building, and scaling D2L from the early days through IPO, Jeremy is one of the best operators and founders I know. Now we are back in full builder and investor mode together.
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Lucid Ventures retweeted
The knowledge base is no longer a back-office system. It's the engine that powers how your organization operates, communicates, and competes on the agentic web: senso.ai/a-canvas-for-the-ag… Sign up for $100 credits: docs.senso.ai
LLM Knowledge Bases Something I'm finding very useful recently: using LLMs to build personal knowledge bases for various topics of research interest. In this way, a large fraction of my recent token throughput is going less into manipulating code, and more into manipulating knowledge (stored as markdown and images). The latest LLMs are quite good at it. So: Data ingest: I index source documents (articles, papers, repos, datasets, images, etc.) into a raw/ directory, then I use an LLM to incrementally "compile" a wiki, which is just a collection of .md files in a directory structure. The wiki includes summaries of all the data in raw/, backlinks, and then it categorizes data into concepts, writes articles for them, and links them all. To convert web articles into .md files I like to use the Obsidian Web Clipper extension, and then I also use a hotkey to download all the related images to local so that my LLM can easily reference them. IDE: I use Obsidian as the IDE "frontend" where I can view the raw data, the the compiled wiki, and the derived visualizations. Important to note that the LLM writes and maintains all of the data of the wiki, I rarely touch it directly. I've played with a few Obsidian plugins to render and view data in other ways (e.g. Marp for slides). Q&A: Where things get interesting is that once your wiki is big enough (e.g. mine on some recent research is ~100 articles and ~400K words), you can ask your LLM agent all kinds of complex questions against the wiki, and it will go off, research the answers, etc. I thought I had to reach for fancy RAG, but the LLM has been pretty good about auto-maintaining index files and brief summaries of all the documents and it reads all the important related data fairly easily at this ~small scale. Output: Instead of getting answers in text/terminal, I like to have it render markdown files for me, or slide shows (Marp format), or matplotlib images, all of which I then view again in Obsidian. You can imagine many other visual output formats depending on the query. Often, I end up "filing" the outputs back into the wiki to enhance it for further queries. So my own explorations and queries always "add up" in the knowledge base. Linting: I've run some LLM "health checks" over the wiki to e.g. find inconsistent data, impute missing data (with web searchers), find interesting connections for new article candidates, etc., to incrementally clean up the wiki and enhance its overall data integrity. The LLMs are quite good at suggesting further questions to ask and look into. Extra tools: I find myself developing additional tools to process the data, e.g. I vibe coded a small and naive search engine over the wiki, which I both use directly (in a web ui), but more often I want to hand it off to an LLM via CLI as a tool for larger queries. Further explorations: As the repo grows, the natural desire is to also think about synthetic data generation finetuning to have your LLM "know" the data in its weights instead of just context windows. TLDR: raw data from a given number of sources is collected, then compiled by an LLM into a .md wiki, then operated on by various CLIs by the LLM to do Q&A and to incrementally enhance the wiki, and all of it viewable in Obsidian. You rarely ever write or edit the wiki manually, it's the domain of the LLM. I think there is room here for an incredible new product instead of a hacky collection of scripts.
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Lucid Ventures retweeted
30 Jul 2025
Most startup pitches are forgettable because founders lead with what they do, instead of "why" they do it. A list of features or TAM slides won’t move a room. But purpose? That sticks. That converts. That gets funded. In this week’s Signals & Systems, I break down why most decks fail and how to fix yours, with storytelling, clarity, and a mission investors can actually remember. (And it includes a free pitch deck template resources from @ycombinator, @sequoia, and @speedrun) 👉 Read: “Your Pitch Is Forgettable—Until You Do This One Thing” noelwebb.substack.com/p/your… 🍕 (Yes, it includes a pizza analogy you’ll remember) If you're a founder preparing to raise, or an investor tired of seeing the same pitch 50 times, I'd love to hear what moves you. #startups #venturecapital #founders #pitchdeck #signalsandsystems #ai #fundraising #storytelling
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Lucid Ventures retweeted
6 Jun 2025
SEO is dead. The Reference Wars are here! 🔥 GEO is the new game, with 40% visibility boosts & a $10B AI search market. Check our Substack’s 2025 GEO map ft. @SensoAI, @GoodieAI. Will AI remember your brand? 📷 noelwebb.substack.com/p/the-… Will GEO overtake SEO by 2026?
0% Yes
0% No
0% It’s already happening!
0 votes • Final results
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Lucid Ventures retweeted
12 Jun 2025
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Lucid Ventures retweeted
23 Jul 2025
🤖 ChatGPT isn’t the future of AI. It’s the warm-up act. LLMs are trained on historical data. They remix. They don’t act. They don’t learn from the real world. 📍 At the recent @creativedlab Super Session in Toronto, Reinforcement Learning pioneer Rich Sutton—fresh off receiving the #TuringAward —put it simply: “We’re entering the era of experience… AI is beginning to exhaust the amount of human‑generated data… to advance further… we need data… from an agent’s first‑person interaction with the world.” @RichardSSutton That’s RL: systems that → decide → act → adapt on real outcomes. It is process based. That’s where AI goes from data to doing. 📌 My deep dive on the shift is here: From Data to Doing: noelwebb.substack.com/p/from… #AI #ReinforcementLearning #AutonomousAgents #StartupStrategy #RL #SignalsAndSystems CC: @chamath and incompleteideas.net/IncIdeas…
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Lucid Ventures retweeted
14 Jul 2025
💸 Seed-stage valuation is still a black box for most founders. You raise at $4M. Your friend raises at $12M. Same stage. Less traction. What gives? I wrote this post to cut through the noise and explain how some early-stage investors come up with valuations — and how founders can tilt the odds in their favor. This is the "math" and mindset behind: ✅ The 7 real methods investors use to value your company ✅ What to do when you have no revenue, no comps, and no idea ✅ How to avoid anchoring too high and boxing yourself out later ✅ The quiet math behind how most term sheets are actually set If you're raising at the pre-seed or seed stage — or advising someone who is — this post will save you some time, dilution, and second-guessing. If you're an investor mentoring early-stage teams — share it with them. 📬 Read the full post here: noelwebb.substack.com/how-th… @NEXT_Canada
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Lucid Ventures retweeted
15 Jul 2025
🚨GEO Dashboard Launch🚨 Learn about our new Generative Engine Optimization dashboard in our most recent article: medium.com/p/why-youre-not-s…

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Lucid Ventures retweeted
14 May 2025
🚨 New Post — Beyond the Burn: Rethinking AI’s Energy Future: noelwebb.substack.com/p/beyo… For years, the AI playbook was simple: raise capital, add GPUs, scale parameters. But what if this trajectory leads not to AGI, but to an unsustainable dead end? In my latest piece, I unpack five reframes of AI infrastructure—from energy-hungry stacks to quantum-hybrid futures—and why scaling brute-force models without rethinking the substrate is a strategic mistake. Some key provocations: ⚡ The energy footprint of AI is skyrocketing—but the real constraint isn’t how much power we generate, it’s what systems we’re powering 🧠 AGI won’t emerge from binary approximations of analog cognition 🧩 Quantum and analog AI aren’t “afterthoughts”—they’re the path forward 🔌 Our chips are perfect in logic, imperfect for intelligence. That has to change. Inspired by thinkers like @leopoldasch, @kcnickerson, and @RussFein, I explore where the future of AI actually lies—and what infrastructure, energy, and capital need to do to keep up. This one sets the stage for what’s coming next. → Give it a read and let me know: Are we scaling intelligence—or simulating it into a corner? #AI #AGI #QuantumComputing #VC #EnergyInfrastructure #BeyondTheBurn #SubstrateShift
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Lucid Ventures retweeted
14 May 2025
🚨 Canada’s VC collapse isn’t a blip — it’s systemic. Q1 2025 data from CVCA shows: ➡️ Seed deals are at a pandemic-era low ➡️ Pre-seed dollars have cratered ➡️ Total deal count is at a 5-year low ➡️ Founders are stalling, or leaving the country to build And yet... some still think we’re “back to normal.” They’re wrong. And the people closest to the ground are calling it out: 🧠 Jordan Jocius: “We’re not planting enough seeds.” Founder formation is collapsing. Our startup base is eroding. 📉 @ruffoloj: “Let the data speak for itself.” Canada has a risk capital crisis, not a confidence one. ⚠️ @mattroberts: “It’s not a tech problem. It’s a VC problem.” Founders are building — it’s the capital side that’s seized up. 💡 Dan Wilson FCPA, FCA: “The time to tinker with AI is over.” C-suites need to scale AI with intent, not pilot projects. But how, without a financing engine? 🧱 And in one of the clearest calls to action, @build_canada Innovation Mandate Letter puts it bluntly: “We cannot build world-class firms without world-class capital behind them.” buildcanada.com/en/memos/inn… Canada doesn’t lack ideas. It lacks urgency, clarity, and coordination. This is a policy problem, a capital formation problem, and an execution problem. But most of all — it’s a generational opportunity to reset, rebuild, and back the next great companies before the window closes. #cdntech #venturecapital #AI #innovation #startups #BuildCanada #LucidVentures #founders #policy #earlystage #reset
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Lucid Ventures retweeted
27 May 2025
Congratulations @mattroberts A: Well deserved B: Well deserved C: Well deserved I know you'll do some great things for the ecosystem ... and keep the killer data and insights coming.
Big news for me! Excited to share that I’ve joined @rbcx as Managing Director, VC Coverage! I’ll be working with VCs and emerging managers across Canada—supporting the builders who back the bold. Let’s connect. #VC #Startups #CanadianTech #RBCx
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Lucid Ventures retweeted
12 Jun 2025
🧨 Most Pitches Fail. Here’s What the Best Founders Know—and VCs Won’t Say Most founders lose the pitch before they ever open the deck. Not because the idea is weak. Not because the story isn’t good. But because they’re pitching to people who are doing a job—and many don’t understand what that job really is. When I became a Venture Partner, and sat on the other side of the table, I wasn't just listening for vision... I really began listening for risk. For inevitability. For whether this founder knew how to make a VC say yes—not out of hope, but out of conviction. This post is for pre-seed and seed founders who want to understand: - Why "good traction" isn’t always "good enough" - Why the cap table matters more than you think - Why it’s easy to say no—and what makes someone fight to say yes Why “undeniable” is the only bar that matters It’s not a teardown. It’s a reframing. 🧵 Read it here → noelwebb.substack.com/p/most… CC: @DanMcCann @JeremyAuger @NEXT_Canada @saroopbharwani @aa_fisch @Lucid_VC
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Lucid Ventures retweeted
12 Jun 2025
What a privilege to moderate this fireside with @ruffoloj — one of the few people who, over various cycles, have actually shaped the Canadian venture ecosystem from the inside out. We went deep on: 🧠 The real state of Canadian VC and what the latest data says about the future of domestic capital 🔥 How founders actually get funded in 2025 💡 AI Operational Leverage as a function of all companies (new and incumbent) 🏗️ Time to build the Canadian Ecosystem to support and fund our great entrepreneurs 📚 The early internet playbook is repeating itself. (In the 90s, capital flooded into servers and bandwidth & infra) — but the real value rose to the application layer. Today, we’re seeing the same pattern: Capex builds the rails. Apps capture the value.) John didn’t hold back—and neither did the questions from the NEXT Canada founders in the room. If you're building in Canada right now, this is the conversation we all need. Thanks to @NEXT (Kyle Winters, Alexandra McGregor), @EYCanada (@EYnews) for creating space to push the conversation forward. Thank you to NEXT Canada (Kyle Winters, Alexandra McGregor), and EY (Dharmesh Gandhi) for bringing excellence to to the Canadian entrepreneurial ecosystem. Let’s raise the bar. #NEXTCanada #venturecapital #startups #AI #founders #CanadianTech #LucidVentures #JohnRuffolo
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