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cack wilhelm

T2 · manager / operator

Venture capitalist at IVP focusing on software infrastructure, cybersecurity, and AI applications with a concentrated portfolio strategy.

5 calls·3 names·100% bull·last heard last month·Bloomberg Tech
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$IVPIVPposition

IVP focuses on AI infrastructure layer with disciplined 10-companies-per-year strategy

IVP maintains a concentrated venture approach investing in 10 consequential companies annually, focusing on software infrastructure and cybersecurity where hard technical moats create long-term compounding businesses.

Bloomberg Tech2026-08episode →
2ndhigh conviction
$PERPLEXITYPerplexityposition

Perplexity's shipping velocity and usage compounding model creates expanding moat beyond answer engine

Perplexity's technical founder, rapid product shipping (browser, deep research, computer agent), and usage-based revenue compounding (150%+ net dollar retention) create a compounding advantage misunderstood as just an answer engine.

Bloomberg Tech2026-08episode →
3rdhigh conviction
$DECARTDecart

Decart's world model optimization enables compute efficiency across heterogeneous chip fleets

Decart's optimization layer allows AI labs to squeeze more performance from diverse chip architectures (NVIDIA, TPUs, Amazon), a scarce capability at scale that justifies a $6B acquisition by Anthropic.

Bloomberg Tech2026-08episode →

most discussed · click a bar to filter

  • $IVP
  • $PERPLEXITY
  • $DECART

recurring themes

  • Venture Capital2
  • AI Economics & Business Models1
  • AI Bubble / Capex Debate1
5 total
$DECART
Decart
HIGHcack wilhelm·Bloomberg Tech·last month·Anthropic in Talks for $6 Billion AI Infrastructure Bet | Bloomberg Tech 8/13/2026
Decart's world model optimization enables compute efficiency across heterogeneous chip fleets
Decart's optimization layer allows AI labs to squeeze more performance from diverse chip architectures (NVIDIA, TPUs, Amazon), a scarce capability at scale that justifies a $6B acquisition by Anthropic.
"What you have in Decart is a world model that I think the reason that they're acquiring Decart is because of this optimization, and that is like one of these layers of a stack tha…"
25:10
$IVP
IVP
HIGHcack wilhelm·Bloomberg Tech·last month·Anthropic in Talks for $6 Billion AI Infrastructure Bet | Bloomberg Tech 8/13/2026· position
IVP focuses on AI infrastructure layer with disciplined 10-companies-per-year strategy
IVP maintains a concentrated venture approach investing in 10 consequential companies annually, focusing on software infrastructure and cybersecurity where hard technical moats create long-term compounding businesses.
"We've done the same thing for 46 years. If we can invest in 10 companies of consequence a year, then it has the potential to be generational companies. Only 10, right? We invest i…"
31:00
$PERPLEXITY
Perplexity
HIGHcack wilhelm·Bloomberg Tech·last month·Anthropic in Talks for $6 Billion AI Infrastructure Bet | Bloomberg Tech 8/13/2026· position
Perplexity's shipping velocity and usage compounding model creates expanding moat beyond answer engine
Perplexity's technical founder, rapid product shipping (browser, deep research, computer agent), and usage-based revenue compounding (150%+ net dollar retention) create a compounding advantage misunderstood as just an answer engine.
"Perplexity was the first to be an answer. It was also the first to launch a browser. It was the first to launch deep research. It was the first to launch a computer agent with com…"
28:00
$IVP
IVP
HIGHcack wilhelm·Bloomberg Tech·last month·Anthropic in Talks for $6 Billion AI Infrastructure Bet | Bloomberg Tech 8/13/2026
IVP's Cack Wilhelm outlines concentrated strategy targeting 10 generational companies per year
IVP maintains a disciplined approach of investing in only 10 high-conviction companies annually, believing a few winners will drive fund returns.
"WE'VE DONE THE SAME THING FOR 46 YEARS. IF WE CAN INVEST IN 10 COMPANIES OF CONSEQUENCE A YEAR, THEN IT HAS THE POTENTIAL TO BE GENERAL E GENERATIONAL COMPANIES. ONLY 10, RIGHT? W…"
31:04
$PERPLEXITY
Perplexity
HIGHcack wilhelm·Bloomberg Tech·last month·Anthropic in Talks for $6 Billion AI Infrastructure Bet | Bloomberg Tech 8/13/2026· position
IVP's Cack Wilhelm highlights Perplexity as a usage compounding business expanding beyond answer engine
Perplexity's rapid product shipping (browser, deep research, computer agent) creates a usage compounding advantage where revenue scales with usage.
"MY FAVORITES ARE PERPLEXITY, USAGE COMPOUNDING BUSINESS... PERPLEXITY WAS THE FIRST TO BE AN ANSWER. IT WAS ALSO THE FIRST TO LAUNCH A BROWSER. IT WAS THE FIRST TO LAUNCH DEEP RES…"
27:11
8
AI Economics & Business Modelstailwind
Usage compounding and shipping velocity identified as key moats in AI application layer
The winning AI application companies (Perplexity) compound revenue through usage-based models with 150%+ net dollar retention, driven by rapid product shipping that expands use cases faster than competitors can copy.
7
AI Bubble / Capex Debatemixed
VC veteran sees golden age of technology but warns of capital market timing mismatch
While AI represents a genuine technological revolution akin to the computer age, capital markets may face adjustments due to timing mismatches between investment and productivity gains.
7
Venture Capitaltailwind
Power law dynamics intensifying in AI era: few winners capture vast majority of returns
IVP's 46-year discipline of 10 investments/year is becoming more critical as AI winner-take-most dynamics mean 1-2 companies per fund generate essentially all returns, making selection and concentration paramount.
6
Venture Capitaltailwind
Top VC firm IVP maintains ultra-concentrated strategy betting on 10 generational companies per year
In an era of massive AI funding rounds, disciplined concentrated investing remains the path to outsized returns.