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Jun 14, 2026
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5 min read
The thing I’m always trying to separate is whether someone has discovered an arbitrage or built a business. The most valuable companies tend to be the ones that own the mechanism that generates the economics, not just the ones that happen to benefit from it for a short period of time
May 24, 2026
4 min read
Plus Sam’s new X playbook, and Slow merch that says the industry's uncomfortable truths out loud.
May 10, 2026
At seed, you are evaluating two separate things at once: (1) is this a real business with a path to a real outcome, and (2) given how wild the next decade looks, what is the chance this thing becomes something nobody can imagine today.
