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audiences and AUM

Inside the secret flywheels that are shaping the new venture playbook

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narrative capital (converting attention to equity)

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narrative capital (converting attention to equity)

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some things I currently hate about startup culture

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99 brutally honest takeaways from working in venture capital

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

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

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Investor Interviews

outlier frameworks: how tier-one investors think

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23 min read

outlier frameworks: how tier-one investors think

96 mental models used by investors at Sequoia, Benchmark, Accel, and others

What else I’m building…

Outlaw is a $10m investment firm that will become the chief capitalist to out-of-distribution individuals.

We invest as early as possible, and we make it our job to turn these people and their companies into the iconic names of the decades to come. 

For readers who skim, here's the 30-second version:

  • Out-of-distribution people → out-of-distribution companies. We invest in individuals before we invest in companies, and the bulk of our underwriting goes towards the founder(s). 

  • API to the network. Six years of writing has created an army of 20k investors, founders, and operators who align with our worldview, trust us, and can act as an extension of our team when it comes time to work. 

  • The pursuit of 1.5% of a $5b business. Outlaw I is a $10m pre-seed fund. 40 investments, $100k-$200k initial checks, 20% reserved for follow-ons.

  • We are raising under 506(c), which means we can talk about this in public. Most of the time, a new fund gets announced after it’s closed. We’re still fundraising while actively deploying, and there are still ways to get involved.


To learn more about the fund thesis, strategy, and types of companies in the portfolio, read our full manifesto below.

Outlaw manifesto
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Thesis

+2

Introducing Outlaw

May 12, 2026

•

14 min read

Introducing Outlaw

A manifesto on the origins of alpha and why the investment firm of the future will be built on top of a writing portfolio

Clay Norris
Clay Norris

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Clay Norris

founder @ Confluence.VC, gp @ Outlaw

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