AI is a bigger economic and social change than the first and second industrial revolutions combined.
Those took generations. This one will take less than a decade.
Backing early founders across the AI value chain, from energy to applications.
Those took generations. This one will take less than a decade.
The SaaSpocalypse is real. A $1.4 trillion software industry is being rewritten, and the usual ways of valuing a business are dead.
It is building the infrastructure of future economies, the way railways and power grids did in the first and second industrial revolutions.
Abundance will replace scarcity: limitless energy, every illness cured, and people freed from labor to spend their time on sport, art, philosophy and space. And we want to contribute to it as much as we can.
The story, the deck and the numbers, and then introductions to investors who fit. We raised $5M for Stack as first-time founders, after more than 200 investor meetings, and we pass on what that taught us.
Open maps and reports on the AI economy: who matters in each layer of the value chain, and whether the market is in a bubble.
Our own money, in pre-seed and seed companies across the AI value chain, from energy to applications. One company at a time.
Twenty metrics in eight categories, scored against the dot-com and 2008 peaks, to answer one question: is this a bubble?
Read it on ThereIsNoBubble MethodologyThe ten most important companies in each of 25 parts of the AI value chain, with every score and source shown.
Read it on 5LayerCakeSoftware for running a set of funds: positions, returns, and how each fund is doing against its benchmark. It grew out of the way Darden Capital Management works.
The app is private, so the link asks for a login.
Open MontidardenIt began in 2018 as a co-founder's weekend project to keep social apps side by side. It grew into a browser where web apps sit in cards and stacks instead of tabs, built in Amsterdam by a team that went from 3 people to 19.
Online groceries in Dubai, from 2014 to 2016. It started with hardware in the stores and switched to an app. George ran the product and Dachi ran operations.
Rank the cities of almost any country by size, and the largest is about twice the size of the second and three times the third. The pattern is called Zipf's law. It has been known since 1913 and nobody has fully explained it.
Dachi's doctoral research tested whether simple rules, followed by millions of people with no one in charge, are enough to produce it, using cellular automata and agent-based simulations. We look at the AI value chain the same way: as one system, not a list of companies.
Dachi works in the technology group of an investment bank in New York. The job is to value technology companies and work on their deals, from raising capital to mergers and sales.
During his MBA at Darden, Dachi spent a year as a senior portfolio manager at Darden Capital Management. He ran a global equity fund: researching companies, picking stocks, managing risk and defending each position in front of the investment committee. Montidarden came out of that work.
We raised for Stack as first-time founders with no investor network. It took more than 200 investor meetings and about ten tech conferences across Europe to close 11 investors. Dachi wrote down how it worked and published the list of investors he met.
George leads AI products at an investing app in Amsterdam. Every feature has to satisfy financial and privacy rules before it ships, so speed and compliance have to be designed together.
In 2016 George launched Georgia's first business incubator at the country's innovation agency, then a pre-acceleration programme and a mentor network around it.
We like hearing from people who see it the same way, and from people who think we're wrong.
hello@typetwo.ventures