Research
Venture Capital Cause of Death
I turned a decade of venture capital data into a handy interactive chart to illustrate the moment the VC industry
JOHN COWAN
Research
Continuation Vehicles Dossier
Complete Data and Research Blueprints
Premium Subscriber Exclusive Edition
Venture Capital
Dog Shit Wrapped in Cat Shit: Continuation Vehicles and the Great Venture Capital Liquidity Illusion
Macro Trends
Subtracting the Giants: How to Escape the Venture Capital Collapse
Remove mega-funds from VC data: $368B→$50B. That's an epic collapse hidden by Venture Banks. The good news? The exodus sparked a funding revolution—venture studios, revenue financing, corporate VC. The old guard killed VC. The vanguard doesn't need it.
Founders
What Carta's Peter Walker Won't Say, But I Will
The Venture Model Isn't Broken Because Founders Raised Too Much—It's Broken Because 46% of Seed Rounds Are Now Bridge Rounds to Nowhere
Venture Capital
Bridge to Nowhere: How the Seed-Stage Loop Exposes Venture Capital’s Structural Crisis
OpED
Why I Left Canada — And Why I Still Believe It Can Lead
My journey from National Party candidate to international founder, arguing that Canada’s brain drain is reversible with pragmatic, pro-builder policies—and that Canada has a rare 100-year opportunity to lead the next economic era.
Venture Studio
How Venture Studios Deliver What Corporate Investors and VCs Can’t
Founders
A Live Dilution Model Every Software Founder Should Understand Before Fundraising
Venture Studio
Assessing Startup Stock Allocation
Venture Studio
Beyond Accounting: Why Venture Studios Must Separate Financial Oversight from Investment Strategy
Venture Capital
Broligarchy Endgame: Total Monopoly Through Government-Backed Intelligent Infrastructure
This multi-part essay explores Silicon Valley’s meteoric rise in influence over public infrastructure, the monopolization of autonomous systems, and what can be done to prevent a new era of digital feudalism in the wake of the current regime’s ambition to run America like a private corporation.
Venture Studio
2025 Strategic Framework for Venture Studios - Part I: Venture Reciprocity Re-revisited
Research
2025 Venture Capital Industry Forecast
In 2024, capital concentration among dominant VC firms reached unprecedented levels. As inefficiencies widen, 2025 will mark a recalibration of early-stage investing, with venture studios emerging as a sustainable model to fill funding gaps and challenge the Power Law Cartel.
Alternative Finance
Alternative Financing Strategies for Venture Studio Managers: Analyzing Safer Returns
Alternative Finance
Analysis: Wefunder's New Hybrid Investment Instrument
Strategy
Geographic Alpha: Using Spatial Arbitrage to Optimize Venture Studio Strategy
Venture Capital