Perspectives

Notes from the firm.

Occasional notes from the firm on permanent capital, AI-native operations, and the craft of holding companies.

Last updated

A writing desk by a tall window at dusk with stacked essays and a brass lamp
Notes from the firm
June 2026

Privacy is a strategy

On being public about the firm and private about the portfolio.

May 2026

Time is the commodity

What a background in commodities taught us about holding companies.

May 2026

The clock is the enemy

What changes when capital stops needing an exit.