Skepticism comes at a price: The tough realities of short-selling

American vs European Startup Dynamism

2024 Year-In-Review + 2025 Predictions

Unwrapping OpenAI’s o3

AI's reasoning quandary

Moonvalley: Revolutionizing enterprise video generation with clean and controllable machine learning

The take-private takeover of software M&A

Sustained competition or inevitable concentration: Gaming out market structure evolution in AI

The Fed is bringing the punch bowl back… what happens to SaaS and AI multiples now?: We’re at a major turning point in monetary policy which is cause for celebration, but recent observations suggest that software investors shouldn’t pop the champagne just yet.

print(“Hello AI World”): Evolution of the developer economy in the age of AI: A new chapter begins for the software development industry as AI elevates coding to new heights of abstraction and democratization, but classical programming will not be going extinct any time soon.

Eschewing IPOs: What happens when SaaS companies stay private for longer: The median age at IPO for US companies is now over 10 years. Staying private has its advantages, but what are corresponding externalities when companies remain private for extended periods of time?

Navigating creative destruction and potential diminishing returns in AI infrastructure: New AI research is being published every day and compounding at an unprecedented pace. How can one filter signal from noise? Are we fast approaching a plateau?

SaaS: Have reports of my death been greatly exaggerated?: Sentiment is brewing in the public and private markets that it's the end of SaaS. Is a mass extinction event really imminent for the industry?

State of the Cloud 2024: The Legacy Cloud is dead — long live AI Cloud!

Next Big Takeaways from Databricks Data + AI Summit and Apple WWDC 2024: Notable announcements from the consumer giant and data infrastructure titan during their flagship conferences could change the AI landscape for years to come.

Roadmap: AI Infrastructure: A new infrastructure paradigm, purpose-built for AI, is emerging to supercharge the next wave of enterprise data software in the age of AI.

Seven product strategies to prevent churn for B2B AI app leaders: Pre-emptive ways AI app builders can safeguard their business from the pernicious leaky bucket syndrome.

Moving from AI Assistants to AI Agents: Are we at the start of the next wave of AI’s productivity promise?

TurbineOne: On a mission to modernize the military’s processing and exploitation capabilities into a holistic and efficient system: Bessemer Venture Partners leads TurbineOne’s $15 million Series A to empower military analysts at the frontlines

Did growth endurance endure?: The days of “hypergrowth” are increasingly fleeting for software companies. What happened to growth endurance and when will it bounce back?

When free-cash-flow margins don't tell the full story: Some thoughts on why investors shouldn't take reported FCF at face value

Small models, big impact: SLMs vs. LLMs: Small language models are entering the big leagues! In this piece, I look at several exciting case studies to examine how SLMs are packing a punch against their larger counterparts.

Cracking the consumer investing code: High-risk, high-reward: I offer a framework for why consumer investing is not for the faint of heart. But for the brave souls that enter the fray, the upside could be astonishingly large with winner-take-most dynamics.

Roadmap: Defense Tech: Technology is transforming national security. More so than ever before, the US is collaborating with startups to help protect its citizens and allies, and promote innovation within the DoD.

AI’s Linux Moment (Chapter 2): Recent highlights of the open-source vs. closed-source model debate: So much has happened in the past 6 months since I first wrote about the open vs closed model race. In this follow-up, I cover how recent developments continue to fan the flames in this heated battle.