The Great Sobriety for Venture Investing, Where To Start with AI, & Undeniable Data

Earlier this year we met with our Limited Partners. Their top question was “will the AI transition destroy your existing cloud companies?”

We began with a strong default of “no.” The classic battle between startups and incumbents is a horse race between startups building distribution and incumbents building product. Can the young companies with coo... See more

Angel thesis around SMBs: A few of you know my personal interest in platforms and tools that empower SMBs and the general notion of AI providing small businesses some of the capabilities and advantages typically reserved for big businesses (making sense of data, security, marketing at scale, personalized experiences, etc…). Over time, we’ll see man... See more

The tech industry currently stands at a crossroads. At the twilight of social media, adtech, and crypto bull markets (bubbles?), tech workers and consumers are simultaneously exhausted by tech and starving for more. Shiny trends like Artificial Intelligence and Mixed Reality stand on the sidelines ready to transform latent frustrations into newfang... See more

In each technology wave the value, revenue, market cap, profits and great people captured by startups versus incumbents differs. In some waves it all goes to startups, while in others it goes to incumbents or is split between them. Unexpectedly, the prior wave of value from AI roughly all went to incumbents over startups, despite a lot of startup a... See more