Seed rounds are more expensive than they’ve ever been, craft is the antidote to slop, the OpenAI mafia, and lessons from Roelof Brotha
How one of the top seed funds operates, some thoughts around investing in small funds, how Insight trains its new investors, and venture dollars are consolidating back to SF
Extended fund timelines, how VCs come up with their theses, and Intel reverses course
VCs becoming traders, the cost of liquidity, a Sequoia spinout raises $150m in a month, and how to innovate when nothing is defensible
Searching for alpha through narrative violations, another way to view “capital markets”, how to manage headcount, and where VC is heading
Venture in 2025, a16z snags another big name GP, and Cluely has its viral moment
The future of M&A, Techstars wants to mirror YC, a 10-year look at building a startup, and how language compresses itself
A deep dive on portfolio construction, how to get a free investment memo from our team, and OpenAI is buying Windsurf
The distraction death spiral, why the liquidity crunch is here to stay, AI bottlenecks, and Figma is planning to IPO
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
