The Unedited

The next generation of venture capital won't include most current VCs.

Most of the industry won t survive the transition The technology civilization needs is what comes next Last week I wrote that decision making is the part of building software that hasn t gotten cheaper There s a second consequence of the same trend that nobody is naming clearly The capital we used to fund those decisions was designed for a world that no longer exists and the cleanup is...

1/5/2026

Coding is getting cheap.
Decision-making is still expensive.

On the new bottleneck nobody is automating Implementation used to be where startups ran out of time to be wrong You had an idea and then six weeks of engineering between you and any signal about whether the idea was worth having Most teams spent the bulk of their energy on that stretch The building the breaking the shipping That stretch is collapsing A small team with the right tools...

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The next generation of venture capital won't include most current VCs.

Coding is getting cheap. Decision-making is still expensive.

Coding is getting cheap.
Decision-making is still expensive.