~2,500 words on what I think is the biggest thing going on in venture
1,500 words on where I think the future of venture is headed
Our updated list of non-obvious things we've noticed
How new school VCs are building their pipeline, finding signal, and lapping their competition
96 mental models used by investors at Sequoia, Benchmark, Accel, and others
Our latest breakdown of what you can expect to earn as a full-time investor
Seed rounds are more expensive than they’ve ever been, craft is the antidote to slop, the OpenAI mafia, and lessons from Roelof Brotha
The future of M&A, Techstars wants to mirror YC, a 10-year look at building a startup, and how language compresses itself
What AngelList is building, what you’re telling LPs when you raise your fund size, new fund I’s are popping up again, and how to get free AirPods on us
Data on early-stage valuations YoY, Morgan Stanley is entering privates, and discounts on some of the best tools we use every day
How to make sense of the former CTO of OpenAI's latest round rumors, tariffs and secondary buyers, and Founders Fund raises a massive growth vehicle
A glimpse into the future for VC as an asset class, virtue signaling is killing independent thinking, and the case for equity-for-services
The best things I found on X this week, digging your moat through typing a sequence of keys, and the importance of sales rep math
Escaping the venture treadmill, megafunds and the great re-risking, the year of the $1b secondary, and some VC returns data
Data on FF returns, creating leverage for AI-first teams, how VCs actually add value
The CEO of AngelList on why scout funds are the best-kept secret in venture, scaling up a fund and moving on to zero-sum games, the biggest issue in private markets, and every company becoming an AI company
How Cendana keeps winning, find PMF or beg for approval, the new economic order, a new fund pops up to lure founders from school
Comparing the threat of leaving in VC vs. PE, thoughts on the Cendana model, Rippling vs. Deel updates, and Rex Woodburry (Daybreak) announces fund I
