The head of Bloomberg's 150 million VC fund explains the formula for finding a top AI startup

When Bloomberg first built the terminal system, back in the early 1980s, most of its customers -- mainly finance professionals -- didn't have computers on their desks. The internet was not yet a commonly-accepted technical protocol for networking and hardware of the terminal's kind hadn't been seen before. So Bloomberg's engineers had to go about inventing the tech themselves -- from the set of instructions to carry data across a network, to custom-built hardware so traders could use a keyboard, and monitors you could stack. It created a great culture of invention at Bloomberg, which has more software engineers than journalists. But cultivating that culture to create new products within came at a small cost.