Analysis, forecasting, and thoughts on all things venture
Venture firms love to talk about what they’ve built. New dashboards, sourcing models, founder portals. Ask any LP and they’ll tell you about the sea of sameness coming out of any VC annual meeting. But when I look at the…
Over the past year, agentic AI has been loosely defined to mean anything from RAG to function calling and computer use. But what is an agent exactly? We now have an answer: agent = LLM + MCP. Primer For LLMs,…
As it turns out, asset management is a really good business. There are tens of trillions of dollars in assets being managed in the US across hedge funds, alternatives, mutual funds, and traditional financial advisors. With management fees generally ranging…
There’s been a transformation brewing in how startups operate. Startups are accelerating again, with topline momentum returning in late 2023 and forecasts for 2025 looking increasingly optimistic. What’s striking is that this resurgence in growth is happening while companies are…
Venture capital has always been a mix of art and science. And training more apprenticeship than algorithmic. It seems most investors trust their network, their read on the founder, their estimates on the market. In other words—pure gut. And for…
It feels rough out there, at least from the headlines. But despite broader market volatility (liberation day anyone?), early indicators from software startups show signs of resilience. Startups are going for it, and willing to take some hits on efficiency…
Taxes are mostly thought to be about numbers (dollars and cents), but foundationally, it’s about the literature. There are over 80K pages of statutory laws passed by Congress, over 180K pages of rules from federal agencies, and at least 100K…
We’re excited to announce our Series A investment in ClearVector. ClearVector is building an identity-first cloud detection and response platform that gives security teams real-time visibility and control in cloud-native environments. In a world where infrastructure is ephemeral and everything…
Traditional software investors have historically shied away from the world of biotech and pharma, but all of a sudden, it seems like if you’re not invested in a protein folding company, you’re actually just a loser. The appendage of .ai…
Building for SMBs is deceptively hard. On paper, it looks like a dream: a massive market, fast sales cycles, and low-friction adoption. But the reality? High churn, small deal sizes, and a brutal need for GTM efficiency. Many small businesses…
