Perplexity CEO says he doesn’t build pitch decks, uses AI to answer questions

In a departure from the norm, Aravind Srinivas, the CEO of Perplexity AI, has found an innovative way to engage with investors. Instead of dedicating weeks to perfecting a pitch deck, he leverages the capabilities of artificial intelligence to facilitate funding discussions. Recently, Perplexity AI secured an impressive $73.6 million investment, bringing its valuation to $520 million, as reported by The Information. During a conversation at Berkeley Haas, Srinivas shared that he has not created a pitch deck since the startup's Series A funding round in March 2023, which netted $25.6 million. Instead, he opts for a more streamlined approach, using written memos, live question-and-answer sessions, and notably, AI-generated replies to address investor inquiries. "The Series A was the only time I made a pitch deck. For subsequent rounds, I simply write a memo and encourage investors to ask any questions they may have," Srinivas explained to attendees. For those not familiar with the startup investment landscape, a pitch deck typically consists of 10 to 20 slides that summarize a business's potential. A noteworthy instance of his AI-driven fundraising strategy occurred during Perplexity's latest funding round. After receiving a detailed follow-up email filled with questions from potential investors, Srinivas took a unique approach. He input the entire email into Perplexity and requested responses in his own voice, stating, "Answer it like Aravind." To his surprise, the AI provided comprehensive answers by referencing his past YouTube interviews, blog posts, and public statements. "I reviewed the AI's responses and thought, 'Wow, I don't think I could have articulated it better myself,'" he admitted. Srinivas then shared the AI-generated responses with the investors, asking, "See if this suffices. If not, I can provide additional context." The feedback was overwhelmingly positive, leading to the investors expressing their satisfaction and completing the transaction the very next day.