Juan Orbea

As a result, countries around the world have banded together to decarbonize the energy grid. Japan, Canada, and the EU have already passed legally binding net zero commitments, and more than 130 countries have now set or are considering a policy target of reducing emissions to net zero, including China (by 2060) and the U.S. (by 2030).

If something dire is happening at your company, then that’s the place to be engaged. Nothing else will matter if it doesn’t get addressed.

Why Intelligence is More Powerful than Physics

But I thought a better way of thinking about how we manage our portfolios is to think about it as a funnel. If we do 36–40 deals in a Seed Fund, somewhere between 25–40% would likely see big up-rounds within the first 12–24 months. This translates to about 12–15 investments.

Thiel argues that innovation has stagnated in the last half a century, citing examples of how industries like energy, aerospace, automotive or biotech haven't had any major breakthroughs during this period.

I do already see a return of normalcy on the amount of time investors have to conduct due diligence and make sure there is not only a compelling business case but also good chemistry between the founders and investors.