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Essays, arguments and field notes.

What we have learned building companies — on AI, Web3, money, and the uncomfortable parts of starting things.

Essays and field notes

51 Funds Still Writing Early Checks in 2026. Twenty of Them Don't Need Traction.
Startup AdviceOctober 8, 2026

51 Funds Still Writing Early Checks in 2026. Twenty of Them Don't Need Traction.

Seed dollars are concentrating in fewer companies, but some funds still back founders at the idea stage. Twenty that invest before traction, thirty-one more writing early checks, and how to work the list.

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51 Funds Still Writing Early Checks in 2026. Twenty of Them Don't Need Traction.

Seed dollars are concentrating in fewer companies, but some funds still back founders at the idea stage. Twenty that invest before traction, thirty-one more writing early checks, and how to work the list.