NEA's Tiffany Luck: Enterprises struggle to measure AI ROI after spending spree

On the latest episode of TechCrunch's Equity podcast, NEA partner Tiffany Luck delves into the mounting challenge enterprises face in measuring AI ROI. Earlier this year, Silicon Valley was swept by the 'tokenmaxxing' trend, where CEOs encouraged employees to push AI usage to extremes. But the bill has come due: Uber reportedly blew through its entire annual AI budget in just a few months. Other companies have cut Claude licenses for parts of their org, and Meta killed its internal AI leaderboard. This tension between hype and hard returns is where Luck, who previously convinced companies that e-commerce was the future, now focuses her expertise—especially on consumer AI 'magic moments'.

Luck joins host Rebecca Bellan to explore how startups are emerging to fill the gap by providing tools for tracking AI spend and ROI. The conversation also covers the future of personal AI agents and reflections on this year's AI IPOs. The episode underscores that despite the initial frenzy, enterprises are still grappling with fundamental questions about the value of their AI investments. For tech professionals, this signals a critical shift: the era of unchecked AI spending is ending, and the demand for measurable outcomes is reshaping how companies adopt and scale AI technologies.