Featured idea / 2026
AI is eating software.
When intelligence becomes abundant and interfaces become conversational, the strategic moat moves away from the generic application—and toward the operating system of the company itself.
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AI is eating software
Why the center of gravity is moving from the app to the company’s intelligence layer.
The AI Leverage Index
A practical financial lens for measuring whether AI is compounding enterprise output.
Pricing AI products through operating leverage
Why AI cost structures require a different pricing calculus than conventional SaaS.
Machine learning for comparable-company analysis
A systematic approach to peer selection and cost-of-equity analysis using clustering.
Generative AI in private equity
Where AI can improve investment judgment, diligence, and portfolio-company performance.
The early AI-powered web
An early view of how intelligent systems would reshape products, workflows, and business models.
Occasional dispatches