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12 Reasons Robots Could Be The Next Trillion-Dollar Business Opportunity

March 20, 2014 | Telepresence Options

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Story and images by Christopher Mims / Quartz

Recently I sat down with Dmitry Grishin, the billionaire co-founder of mail.ru and head of the world's largest venture capital fund devoted solely to robots, Grishin Robotics. As you might expect from someone who has put $25 million into robotics startups, he's bullish on the potential of robots (as he defines them) to become an area in which fortunes will be made in just the next few years.

Recently I sat down with Dmitry Grishin, the billionaire co-founder of mail.ru and head of the world's largest venture capital fund devoted solely to robots, Grishin Robotics. As you might expect from someone who has put $25 million into robotics startups, he's bullish on the potential of robots (as he defines them) to become an area in which fortunes will be made in just the next few years.

1. Building robots is cheaper than ever

We live in an era of self-driving cars, robotic vacuum cleaners, and ever more autonomous military drones. That's because innovation comes relatively quickly and cheaply nowadays. "Let's assume you wanted to build a robot 20 years ago," Grishin says. "You would need to invest several million dollars to build one robot, and it might take three years." Costs and timescales like that just don't fly for modern VCs accustomed to putting their money in software, says Grishin.

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