Anand Chandrasekaran does not sit on the sidelines. He jumps into the game. He is the managing partner at Celesta Capital and co-founder of two AI companies, Crescendo and HiO. He explains why AI only transforms an industry when insiders drive the change, and why he expects the shift from scarcity to abundance to transform fields like customer care. He also describes how tokens have become the new capital, that is, the vital resource that CEOs must ration. Rob Tercek talks to Anand about what happens to the career ladder when AI automates the call center jobs that built India’s middle class, how the role of the VC has evolved, and Anand’s view that we are in the earliest stage of the AI super cycle.