The blog post analyzes the current state of AI investment and its implications for the US economy, highlighting that data center capital expenditures (capex) are driving significant GDP growth. It discusses the expected ROI from A...
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Kevin Zhang shares insights on tech and policy as an investor, founder, and engineer.
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6.4Capital and Industry
2025-08-19 • big tech investment foundation models capital ai
The blog post discusses the escalating competition in the AI sector, particularly among major players like Alphabet and Meta, who are significantly increasing their capital expenditures to dominate the intelligence layer. It argue...
The software market's downturn presents both risks and opportunities for investors, particularly for companies with protective 'artificial limiters' amid the rise of AI.
The text discusses the rapid pace of AI development and the intense research, funding, and product announcements in the field. It highlights the endgame for AI labs and the value accrual, arguing that they must execute a multi-pro...
The text discusses the impact of tariffs on the United States' competitiveness and economic stability, drawing on insights from Bill Gurley's arguments against tariffs. It examines the detrimental effects of tariffs on the global ...
The text provides insights from CalSTRS' private equity performance report, focusing on the key objectives of a large institutional investor, the dominance of traditional buyout strategies, the long time horizon of private equity ...
The text discusses the competition between AI code-generation startups, focusing on AI copilots and coding agents. It explores the current contenders in the AI-code generation landscape, the differences between copilots and agents...
0Where Returns Lie in Venture Capital
2024-09-17 •
The text discusses the nature of early-stage venture investing, focusing on non-consensus picking as an under-appreciated source of alpha. It covers the constituent parts of the VC job, the challenges of non-consensus investing, a...
0Zombiecalypse in Startupland
2024-07-30 •
The text discusses the current state of the VC industry, highlighting the conflicting forces at play, the lack of IPOs for growth stage companies, and the impact of the broader macroeconomic environment on the SaaS market. It also...
0A Deep Dive on AI Inference Startups
2024-07-10 •
The text is a deep dive on AI inference startups, focusing on the need for AI inference abstraction, the convergence of developer experience, performance, and price among inference abstraction platforms, and the competitive dynami...
0Investing in the Age of Generative AI
2024-06-26 •
The text discusses the current AI investment landscape, the reasons for the intensity in funding AI startups, the weakness in the generative AI landscape, and the framework for thinking about opportunities in generative AI. It als...
0TikTok, Robots, and Opportunities in Consumerland!
2024-05-28 •
The text discusses the technological advances in China's consumer market, focusing on the extensive super-app ecosystem, computer vision, and urban population density that has enabled Chinese consumers to achieve a level of conven...
The text discusses observations from the author's recent visit to China, focusing on the country's economic environment, technology trends, and the ongoing Great Power Conflict between the US and China. It highlights China's need ...
0Tidal Waves in Venture Capital
2023-12-11 •
The text discusses the current state of venture capital and the impact of macro trends and AI research on the venture and startup ecosystem. It highlights the curse of scale on venture capital, the rise, fall, and rebirth of data ...
0Peak Data
2023-10-25 •
The text discusses the potential impact of machine-generated data on the future of human-generated data, particularly in the context of AI model efficacy. It explores the concept of 'peak data' and how it may affect the quality an...
0MAD, China, and the Semiconductor Showdown (Part 2)
2023-04-19 •
The post discusses the importance of semiconductor production in the context of AI innovation and geopolitical tensions between the US and China. It explores the impact of semiconductor supply chain uncertainty on AI innovation an...
0MAD, China, and the Semiconductor Showdown (Part 1)
2023-03-20 •
The text discusses the investment trends in China and the United States in the field of AI and machine learning. It explores the differences in funding, the impact of geopolitical risks, and the concentration of investment dollars...
0The Anatomy of a Data-Driven VC Sourcing Stack
2022-08-09 •
The text discusses the process of sourcing high-potential startups for venture capital investment, particularly focusing on open-source startups in the cloud infrastructure space. The author outlines the signals and data used to i...
0Introducing Fusion Fund's VC Fellowship!
2022-04-05 •
Fusion Fund is launching a VC Fellowship program for working professionals in STEM roles or post-graduate/PhD students interested in exploring a career in VC. The program aims to provide training and hands-on experience in the VC ...
0Breaking into VC as an Engineer
2021-10-18 •
The text discusses the author's transition from engineering to venture capital, highlighting the challenges and strategies involved. It provides insights into the paths for engineers to enter VC, the importance of diverse knowledg...
0Random musings. From tech to policy
2020-10-06 •
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