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buying networks, compounding leverage, and a different approach to solving the coverage problem

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Read by investors, founders, and employees at the top funds and companies in the world.

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Reasonably predicting the future of the asset class by breaking down the history and future of venture capital into four eras

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Biographies and lessons from studying Henrique Dubugras, Stanley Tang, Alexandr Wang, Vitalik Buterin, and Markus Villig

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Lessons from Don Valentine

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Investment thesis (Outlaw 1.0)

The fourth and final pillar of a thesis-driven investment firm

Investment theses

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Investing notes (Jan. 2026)

A stream of consciousness over the past month

Guiding philosophies

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Clay Norris

founder @ Confluence.VC, gp @ Outlaw

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