Viewpoints

There is no crystal ball. Human action arises from trillions of independent decisions — far too complex to simulate — ideally made voluntarily and coordinated through […]

On Christmas Eve, Nvidia (market cap ~$4.6T) announced the acquisition of AI chipmaker Groq for around $20B in cash (the exact terms are still not public), […]

It’s good to end the year on a high note. Last week, Glean announced it has surpassed $200M in ARR, doubling revenue in just nine months. […]

I worked in management consulting for 25 years. We lived by the mantra, “change is good for consulting”. That line always held true — until now, […]

Back in 2020, when Fabrica Ventures began, secondaries were considered a niche strategy. Fast-forward to today, they have become an essential tool for portfolio management in […]

I have a certain “emotional” attachment to e-commerce fulfillment businesses, as we once led the interim management of the company that ultimately became Amazon’s beachhead in […]

In the past month, major Wall Street institutions entered the VC secondaries space with a wave of acquisitions. Charles Schwab acquired Forge for $660M and Morgan […]

From Miami Early in the AI supercycle, we presented our Investment Committee with an opportunity to invest in an AI customer-support chatbot. One of the members, […]

The myth of Cronus and Zeus captures one of humanity’s oldest themes — the Cycle of Power. A ruler becomes afraid of being replaced → he […]