Liquidity, Stupid
What Kauffman saw in 2012 and the load-bearing element nearly every diagnosis still misses.
Venture Capital 2.0
Research and tools for the next generation of venture builders, investors, and founders.
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Coalition Investing and the Case for Venture Capital Without a Fund Manager
Your Most Valuable Asset Is Being Walled Off by the Fund You Invested In
Carta's Latest Founder Data Says What Carta Can't
Wasserman's Data Has Not Improved Visual companion — John Cowan, Next Wave Partners Founder Dilution Trajectory Exit Waterfall Comparison The Structural Trajectory of Founder Ownership
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Nineteen Cents on the Dollar: Breaking Down AngelList's Venture Fund Report
AngelList just published the most comprehensive fund performance data available for emerging managers. The numbers confirm what many of us have been talking about for years, and they point toward something better.
2026 Venture Capital Industry Forecast
Everything you need to know about the VC industry for 2026
Exclusive Report: Family Office and Fund of Funds Market
The venture capital industry has built an extraordinarily sophisticated machine for deploying capital into private markets. It has built almost nothing to get that capital back out.
Introducing The Portfolio Allocation Matrix - A Risk Modeling Framework for Venture Studios
From Deal Structure to Portfolio Strategy Most venture studios fail because they try to develop the wrong companies at the wrong time, or they try to
Capturing Dislocation Alpha: The Venture Studio Hedge Against the AI Bubble
The Contrarian Investment Thesis The AI venture capital bubble will inevitably unwind over the next several years, creating an unprecedented opportunity for value capture in the