Pipe It! Platforms, Funding, and the Future

This is the first step of the Pipe thesis: the revenue contract is the atomic unit. It’s the closest thing there is to revenue itself, and the smallest possible black box you can trade

It looks like factoring, it looks like debt, but it isn’t any of those things. It’s a new tradeable asset class with revenue contracts as the atomic unit. Businesses have been waiting for this for a long time. We’ve already maxed out the first lever you can pull to fund growth: issuing equity shares, off of the promise of what could be. Now, Pipe i... See more

The critical moment for me, when I really had that flash of seeing what Pipe makes possible, was realizing what this means for platforms.

In contrast to VC - where over the past 30 years of software, there’s been a circular “we shape our tools, and then they shape us” coevolution around how equity works - this hasn’t happened for debt yet. We haven’t figured out the right atomic unit

These platforms have great vested interest in helping their customers succeed, and they also have cash they can put to work.