Can You Build a Breakout Company Without AI? Investors and Founder Debate | Disrupt 2026

In a world where every pitch seems to be an AI pitch, do fundamentals still win? At Disrupt 2026, General Catalyst Partner Mark Crane, Baillie Gifford Investment Manager Shan Shan, and ALSO Founder Chris Yu make the case for efficient growth, retention, and revenue quality over hype. They debate whether a breakout company can still be built without AI at its core, and what investors look for when evaluating startups in an AI-saturated market. The discussion explores the enduring importance of unit economics, customer retention, and sustainable growth strategies. The panelists share their perspectives on how AI hype can obscure weak fundamentals and why some of the most successful companies may not be AI-first. They also discuss how founders can differentiate themselves by focusing on execution and revenue quality rather than jumping on the AI bandwagon. This session is a must-watch for entrepreneurs and investors seeking a balanced view of the current startup landscape. Gain insights into what it takes to build a breakout company in any era, and how to avoid the pitfalls of chasing trends without substance. #TechCrunchDisrupt2026