Venture Capital 2.0

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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

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

public – 5 min read

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A new model is emerging to take the place of the failing unicorn investment thesis. Welcome to the Venture Studio era.

May 18, 2024

JOHN COWAN

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

members – 8 min read

VCs use irrational public comparables to inflate portfolio valuations that justify more and bigger funds predicated on irrational investing in AI companies.

Apr 21, 2024

JOHN COWAN

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

paid – 15 min read

The wealth created following the advent of the smartphone gives us a blueprint for investing in the Era of Autonomy.

Apr 4, 2024

JOHN COWAN

Creative Destruction: The Business of Collegiate Sports in the NIL Era

paid – 16 min read

Most times we only get to observe creative destruction in the past tense, but the rapidly evolving Collegiate NIL market reveals creative destruction in real time. This provides a blue print for investors and innovators to capture a new market.

Mar 12, 2024

JOHN COWAN

Tesla's Disruptive Force: The Platform Business Model that Snuffed Out Apple

paid – 6 min read

Apple's failed attempt to invent an EV is a caution flag for investors and a lesson in strategy failure

Feb 28, 2024

JOHN COWAN

'Safer' Strategies: Rethinking Startup Investment

members – 6 min read

A case study from my initial experience pricing Safer investment transactions for early stage companies

Feb 13, 2024

JOHN COWAN

Vanishing Equity: The Financial Sorcery of Venture Capital

public – 7 min read

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Founders will give up more than 80% of their company over four rounds of venture investment. Venture Capital firms use a suite of finely-tuned instruments to manifest this excessive equity dilution.

Feb 5, 2024

JOHN COWAN

The Power Law Cartel in Venture Capital

public – 7 min read

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Venture Capital is controlled by a handful of firms - the Power Law Cartel - and the failure of their Unicorn investment strategy exposes both problems and opportunities for the industry.

Jan 31, 2024

JOHN COWAN

Venture Capital in Transition: Navigating New Realities in Secondary Markets and Realigning GP Incentives

paid – 2 min read

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Jan 26, 2024

JOHN COWAN

The Brex Dilemma: Riding the Venture Capital Wave and Facing Its Crumbling Foundation

paid – 4 min read

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Jan 25, 2024

JOHN COWAN

Harvesting the Long Tail: A New Approach to Startup Investing

paid – 3 min read

…

Jan 16, 2024

JOHN COWAN

America's Innovation Paradox

public – 4 min read

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America's "Innovation Paradox" arises from the mismatch between the current capital investment thesis and the necessity of investment into nationwide sustainable digital infrastructure initiatives.

Aug 15, 2023

JOHN COWAN

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JOHN COWAN