Juan Orbea

Most fast-growing companies aspire to global leadership in their industries. They often start as insurgents: fast, agile and adaptable. But to win in the long term they must scale, often losing what we call the Founder's Mentality.

No phrase better encapsulates science investing today than the challenge of “condensing fact from the vapor of nuance.”

The Law of Accelerating Returns Applied to the Growth of Computation

Fission occurs when a neutron comes in contact with a larger nucleus (say, Uranium-235). After absorbing the neutron, U-235 turns into the violently unstable U-236 and immediately splits into two smaller nuclei, releasing a tremendous amount of energy. Additional neutrons are also released from the fission reaction, subsequently striking other... See more

Thorium fuel: Like HALEU for fast reactors, thorium fuel is also more efficient, as the thorium can be fully consumed and then recycled, without needing continuous replenishment of fuel. Thorium today is only beginning to be incorporated into nuclear reactors in countries like India, where thorium supply is abundant.

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.