Insights
Memos on the AI market.
The team writes short notes on diligence, distribution, infrastructure, and the changing shape of the AI stack.
Latest
Readable notes, not content for its own sake.
Each memo is meant to be skimmed quickly and revisited when the next round of decisions shows up.
Thesis6 min read
Why AI-only portfolios compound faster
Concentration is not a brand choice. It changes the quality of the pattern recognition you build.
A focused portfolio sees the same technical and market signals again and again, which sharpens conviction more quickly than a generalist strategy can.
January 2026Read memo
Diligence5 min read
What we look for before model quality
The best signals show up before the benchmark curves get impressive.
Most investors overfit to a demo. We want to know whether the product already fits the user's day and the buyer's budget.
December 2025Read memo
Infrastructure7 min read
Why infrastructure still compounds
AI infra is not a commodity when the workflows are regulated, production-heavy, or expensive to get wrong.
The right infra company is not just faster. It removes enough friction that the buyer can scale the system with confidence.
November 2025Read memo
Strategy4 min read
When to lead in AI applications
Lead when the product already earns its place in a daily workflow and the team can explain the next expansion path.
Leading a round is easier when the company has already earned pull from the people closest to the work.
October 2025Read memo