Oversubscribed Ventures co-founder Sara Foster admitted during TechCrunch Disrupt 2024 that she doesn’t even have ChatGPT on her phone, which is quite surprising considering the product’s influence. However, what sets the Foster sisters, Erin and Sara, apart from typical venture capitalists is their primary focus on creativity rather than the tech industry. Throughout their careers, they have established successful ventures such as Favorite Daughter clothing line, led creative projects for Bumble Bizz and Bumble BFF, and currently co-host a podcast together. Erin Foster even created the popular Netflix show “Nobody Wants This,” featuring Kristen Bell.
The sisters, known for their humor, named their venture Oversubscribed Ventures as a nod to their personalities, acknowledging that the investment space is not where they naturally belong. They prioritize being genuine and leveraging their unique perspectives and skills in the industry.
During the event, the Foster sisters candidly discussed their reluctance to invest in AI, emphasizing that they only invest in what they understand. Erin, with her background in TV writing, shared a personal perspective on generative AI and its impact on creators. She mentioned participating in a strike related to AI and highlighted the limitations of AI in tasks like scriptwriting. Despite encountering various AI companies, they have yet to make an investment in the sector.
While humor is a key aspect of their personalities, the Fosters underscored the value they bring to consumer tech companies they invest in. Their focus on consumer behavior, evident through their podcast and clothing brand, showcases their understanding of consumer preferences. They emphasized the importance of creating an ecosystem around Oversubscribed Ventures to provide value beyond just funding.
Despite their reservations about AI, the Foster sisters’ expertise lies in understanding consumer trends and effectively engaging with founders. Their diverse background in creative industries positions them uniquely in the venture capital space, offering a fresh perspective to the startups they support. So, while they may not be investing in AI just yet, their insights and experiences add significant value to the consumer tech companies they back.
