Deep DiveJul 19, 2022
Venture Investor & Writer
The intersection
of bits &
bullion.
I invest in technical tools for technical people. I write about the business and economics of tech and venture capital.
Fig. 1 — PortraitRole
VC @ Lightspeed
Focus
Infra & Dev Tools
Location
San Francisco, CA
Status
Deploying
rocket_launch
01Founders
Navigating the messy middle of zero to one. The theories and realities of building a valuable tech startup.
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02Developers
The rise of the engineer-executive. Tooling, workflows, and the future of software construction.
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03Investors
Macro analysis for the micro-focused. Charts, models, and equations separating signal from the noise.
Latest Dispatches
Observations from the field.
Apr 27, 2026
The Measurability Gap in Venture Capital
AI makes venture narratives cheaper to produce before it makes private-market truth cheaper to verify.
Apr 27, 2026
Tokens Aren't Fungible
A visual essay on why benchmarked intelligence and token price explain less of LLM demand than the market wants them to.
Feb 11, 2026
Tokens Aren't Fungible
Open source LLMs are 90% cheaper than closed source models, yet they capture less than 30% of token share
Join the Syndicate
Long-form essays on the economics of tech, with the data to back it up. All signal, no noise.
Read by 5,000+ founders, engineers, and investors.