Deal memos, founder interviews, market notes, and the occasional rant. We publish every two weeks. 6,247 readers.
The Series A founder on bootstrapping for 18 months, breaking her own freezer twice, and why mushrooms are inevitable.
Median seed pre-money down 18% YoY. We pulled 412 deals across our network and break down what's happening, what isn't, and what we're doing about it.
We've put 22% of Fund III into climate. We may be premature. Here are the three counter-arguments we lose the most sleep over.
The pitch was good. The team was great. The market is huge. We still didn't do it. A post-mortem on a pass.
Live transcript of the 90-minute IC meeting, names redacted. The vote was 4–1 in favor. Yes, we publish these.
The academic case against retail VC, in three studies. Then our (somewhat sketchy) argument that the data doesn't apply to us.
On hiring lawyers as engineers, why their training set fits on a single SSD, and the actual best language model for IRS Form 8606.
A 12,000-word history of why a 1933 New Deal-era statute is the reason your dentist can't invest in Stripe.
A polite, then increasingly desperate, account of getting allocation in an oversubscribed round at 2 a.m.
Yes. No. Maybe. Probably. We don't know. Here's how we're positioning the fund regardless.
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