Sublime

The default trajectory leads towards intellectual nerds, purchasing on their own and using Roam privately. This is typical of Roam’s current usage patterns, but won’t satisfy Roam’s investors. The swerve leads towards organizational collaboration, network effects, and enterprise customers.

Megafunds don’t have to win on distributions. Venture perhaps evolves to a point where mathematical return optimization is no longer the edge. When you can own the cap table, capture optionality across product cycles (YC’s obvious play), and crown the kings in a space, you become more than a fund - you are now a meta allocator. Speed, access, and... See more

OpenAI had a significant lead from summer 2022 through spring 2024 when Google and Anthropic caught up to GPT-4. 7ish quarters of dominance as a result of being the first to aggressively bet on the traditional scaling “law” for pre-training. Being first to reasoning with o1 only led to a few months of... See more

With -cost of capital up📈 -overall funding down📉 -tourist entrepreneurs fading👤 -concentration of funds will increase💰 -specialist + diverse deep tech expertise🔬🚀 -deep pockets to fully fund companies (inception to exit) https://t.co/i85H3VMZ09