Good morning 👋
And happy Friday. What a week.
We’re back on the investor interview train, and we’ll share more on that next week.
We also shared our company update from November, a collection of the best market maps we found this year, some thoughts on second order effects of AI, and a shift in the Overton Window.
Lots of keyboard typing this week.
Let’s get into today’s piece.
P.S. We’re shooting out another deal flow report to premium subs over the weekend with three companies we’re looking at along with our thoughts on each.
Today’s highlights
Singerman steps back
How CISOs are spending their budget
Max Levchin on how to work
47 tools that make you a better worker
TOP
Singerman steps back at Founders Fund
Brian Singerman, a long-standing partner at Founders Fund, is stepping back from his daily operational role. Singerman will remain with the firm as a board member and investor, signaling a strategic rather than a full departure.
Why it matters: General partner at Founders Fund is one of the best jobs in venture, so it’s going to become news whenever anybody steps away from that seat.
Even though people still think of Peter Thiel when they think of Founders Fund, Brian is largely the one to credit for making the firm what it is today. He started as a junior investor, worked his way up to partner, moved to GP shortly after, and he has had a crazy run over the past decade.
We can’t speculate as to who will fill his shoes (you can look at their team page to do that yourself), but there are some other big takeaways we had from reading this news and reflecting on FF’s strategy over the years:
Finding the right firm > anything
There are still paths to partner at the right firms
Being contrarian and right is the only way to make money in the venture game
Consensus is temporary, and being contrarian is a moving target
Lack of key man risk signals strength; key man risk signals weakness
Search Partners
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LINKS
🧰 Tools That Made Me 10x Better: Marketing Ideas lists 47 non-obvious products to maximize creativity, focus, and happiness
🦄 It Takes an Average of 5 Funding Rounds to Build a Unicorn: Illya Strebulaev provides data from almost 2,000 US unicorns on their fundraising journey
💄 Beauty is in the Algorithm of the Beholder: Digital Native takes a dive into Ozempic, the snob effect, and shirting societal beauty standards
⚒️ Salesforce CEO Marc Benioff Has Thoughts on AI Agents, Automation, and the Future of Your Job: Big Technology’s Q & A with Benioff, who shares a different take on AI agents than most you’ve heard so far
🏃The Cost of Ego: Morgan Housel joins the Glue Guys to talk about the importance of running your own race
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TWEET
HEADLINES
How CISOs Are Spending Their New Budgets (Crunchbase)
SpaceX tender offer caps standout year for secondary sales (Pitchbook)
Aircraft parts market becomes a hotbed for PE investment (Pitchbook)
Marc Andreessen, Joe Lonsdale, and all the other VCs reportedly in the running for DOGE and other Trump committees (TechCrunch)
Cleerly raises $106M from Insight Partners for AI heart health early detection (TechCrunch)
ServiceTitan could be the first of many ‘dirty’ term-sheet IPOs, VCs believe (TechCrunch)
MEME
COMMUNITY
Upside = 🤷♂️

You’re an investor, and like everybody else we know - you want to become better at your job.
So you have a choice to make, and every choice has a lists of pros and cons.
Here’s the choice:
Cons: Pay the annual dues of $400 / year to join the #1 private investor community
Pros: Speed up your onboarding curve, get an evergreen playbook that you can use over and over again on the job, meet other co-investors , meet new LPs through your new co-investor connections, expand your deal flow through new introductions from your new investor network
We’re biased, but we think the choice is pretty clear …
RECS
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POLL
Which newsletter from this week was your favorite?
Thanks for reading this far and giving us a little bit of your attention this week.
Feel free to unsubscribe whenever this stops becoming valuable to you.
- Clay
RESULTS
Here are the results from our poll question in Wednesday’s piece:
Which gets affected more by mass adoption of AI?
🟨🟨🟨⬜️⬜️⬜️ White collar jobs (4)
🟩🟩🟩🟩🟩🟩 Blue collar jobs (8)
12 Votes


