Barbell fund construction: large growth checks for fast DPI + early venture for optionality
A barbell approach — deploying big checks into late-stage companies with near-term liquidity (SpaceX, xAI) while maintaining early-stage venture exposure — optimizes for both DPI and upside…
Barbell strategy: own foundation models, inference, and custom silicon
The AI stack will concentrate value in a few foundation model winners; investing down the stack into inference providers and specialized ASICs (Etched) captures structural demand for comput…
Fusion energy (Helion) as critical enabler for AI data center power
AI compute growth is constrained by electricity supply; fusion offers a potential step-change in clean baseload power, making Helion a strategic infrastructure bet.
Defense tech, robotics, and manufacturing represent the next 'atoms' wave
After software, the next investment frontier is physical-world automation: defense technology, robotics, and advanced manufacturing where AI meets the real world.
Biology x AI convergence still early with no obvious winners yet
The intersection of AI and biology is a nascent investment theme; even Sam Altman signals it's too early for clear winners, suggesting a long horizon for company formation.