Perspectives from the firm
How we see the frontiers we invest in — written for founders and fellow investors, updated as our thinking evolves.
Compliance is becoming a product category, not a cost center
Every prior platform shift created its own assurance industry — financial audit, cybersecurity certification, privacy tooling. AI's version is being founded right now. Why standardization is the tailwind, and who captures it.
5 min read · The firm's viewWhen agents hold wallets, checkout as we know it disappears
Fraud systems assume a human clicked. What replaces the checkout page when the buyer is software — and who builds it.
The model is the new perimeter: security after the prompt
Prompt injection, data poisoning, model theft — mapping the new attack surface and the defensive stack forming around it.
After the scroll: what AI-native feeds mean for creators
Feeds that generate as much as they rank change the creator economy's unit economics. Where the durable positions are.
The demo-to-dependable gap is where AI companies die
Impressive demos are cheap; dependable products are not. The engineering disciplines that separate the two.
Why we prefer controlled growth — even in an AI gold rush
Hurrying slowly is a strategy, not a temperament. The case for deliberate pace when the technology moves this fast.
Standardization secures the present: investing in open protocols
Why the companies shaping agent and AI standards today will be the defaults everyone else integrates with tomorrow.