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You Can't Reindustrialise with Casino Money

Nineteen Cents on the Dollar: Breaking Down AngelList's Venture Fund Report

2026 Venture Capital Industry Forecast

Anatomy of Venture Capital Racketeering

The Economic War Peter Thiel Doesn't Talk About (and Probably Doesn't Want to)

Breaking Down Goldman Sachs' Acquisition of Industry Ventures

Capturing Dislocation Alpha: The Venture Studio Hedge Against the AI Bubble

Venture Studios and Family Offices: Breaking From Fund Economics to Unlock Capital

Trump to Bail Out Failing Venture Capital Industry with America’s 401k Retirement Savings

Regulation Crowdfunding: Exploring a Democratic Foundation for Post-VC Innovation Finance

2025 VC Forecast Mid-Year Update: The Accelerating Collapse and the $30 Billion Opportunity

Dog Shit Wrapped in Cat Shit: Continuation Vehicles and the Great Venture Capital Liquidity Illusion

Subtracting the Giants: How to Escape the Venture Capital Collapse

What Carta's Peter Walker Won't Say, But I Will

How Venture Studios Deliver What Corporate Investors and VCs Can’t

2025 Strategic Framework for Venture Studios - Part I: Venture Reciprocity Re-revisited

2025 Venture Capital Industry Forecast

Alternative Financing Strategies for Venture Studio Managers: Analyzing Safer Returns

Geographic Alpha: Using Spatial Arbitrage to Optimize Venture Studio Strategy

A Constructive Critique of Time Dislocation Theory in Venture Capital

The Unicorn Hangover: A Decade of Reckoning Looms for Venture Capital

Sequoia's Evergreen Fund and the End of Traditional Structures

Evergreen Funds and the Remaking of the Venture Capital Asset

The Extinction of Venture Capital as We Know It and the Rise of the Venture Studio Business Model

How the AI Unicorns Will Spark the Next Big Venture Capital Implosion

Machines are Eating the World: The Data Gravity Investment Thesis in the Era of Autonomy

'Safer' Strategies: Rethinking Startup Investment

Vanishing Equity: The Financial Sorcery of Venture Capital

The Power Law Cartel in Venture Capital

You Can't Reindustrialise with Casino Money

public – 18 min read

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Dan Gray diagnosed the disease. Here's why the cure requires new financial architecture, not just new companies.

Feb 24, 2026

JOHN COWAN

Nineteen Cents on the Dollar: Breaking Down AngelList's Venture Fund Report

members – 14 min read

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.

Feb 13, 2026

JOHN COWAN

2026 Venture Capital Industry Forecast

paid – 41 min read

Everything you need to know about the VC industry for 2026

Jan 15, 2026

JOHN COWAN

Exclusive Report: Family Office and Fund of Funds Market

paid – 12 min read

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.

Dec 12, 2025

JOHN COWAN