Just published a deep dive exploring the “tidal waves” sweeping over venture capital. I examine how various macro trends + rapid advancements in AI are reshaping the venture & startup ecosystem, which include: • The impact of increasing fund sizes on returns (and why a $500M fund might need to generate $17.5B in exit value to 3X). • Novel strategies in which data science and AI can be applied in the VC investment process. • How VC, traditionally a “cottage industry”, is becoming more high-frequency I also share some predictions on where the industry might be headed: • How Solo GPs and smaller/nimbler firms could harness AI to rival much larger investment platforms. • The transformation of VC into a more traditional asset class (but with a twist!) • The potential re-emergence of ‘calm funds’ in a world of capital-efficient, AI-native startups • The changing role of CVCs and cloud hyperscalers in startup investing, and why massive funding rounds in foundation model startups probably won’t continue Check it out below (and would love feedback)! https://eastwind.substack.com/p/tidal-waves-in-venture-capital