Nvidia is guaranteeing OpenAI's rent

Up to $105 billion, and the chips come back as Nvidia revenue. History shows where the value settles.

The Value Was Never in the Infrastructure Alone

AI money is going to compute, while the engineers who put AI to work are in high demand.

AI's hardest problem shifted from chips to deployment, and a company I backed in 2015 was ready for it.

How private investors are investing in AI

How allocator demand, infrastructure, geography and company formation are reshaping private-market exposure

Your entry into the IPO is the insider's exit.

How to tell whether you're allocating or funding someone else's way out.

The AI Exit Machine

When Private-Market Gains Meet Public-Market Liquidity

My Dad turned down my $4 million plan

Instead he wanted the same income with a third of the capital. So I built it for him.

The same track record predicted nothing and everything

What changes when you measure a fund's performance a decade too early.

The Track Record Trap

The richest investors are holding almost no cash

With nothing in the way, they put more into private equity than anything else.

An investor told me our fees were too low

A drive around St. Louis changed how I see the hurdle.