📶 narrative capital (converting attention to equity)

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Good morning 👋

I’ve spent my career working every part of the venture ecosystem, and I’ve spent more time than most observing and thinking through the things that are changing the structure we are all used to.

I think narrative capital is the biggest thing going on in venture, and I’m betting my career on it. (More on that another time - email me if you want the details.)

I can’t take credit for the branding (shoutout to Sajith Pai and his piece on the subject).

Narrative capital refers to the growing trend where media is eating venture capital. Attention is the new oil, and media creators - writers, podcasters, and tech influencers - are leveraging their platforms to build investment firms.

And they are winning (over much larger funds).

There is a lot to unpack on how we got here, why this matters, and what to expect from here, but we’ll try to tackle all of that below …

P.S. This piece is long and will get cut off by Gmail. We recommend clicking the button above to read the full piece.