New post: AI is catalyzing a long-awaited enterprise software promise. This shift from traditional SaaS to AI co-pilots and autopilots increases market sizes by 10x for startups. felicis.com/insight/ai-catal…

Huge congrats to Knicks fans who’ve waited a long time for this night!

Time to brag, my better half just won the James Beard award for her debut book!!

The hardest problem in AI is no longer intelligence. It's power. ⚡ Endurance is building geothermal energy on the seafloor — the best thermal gradient on the planet, and a cost structure built to outlast the energy rush. @Felicis managing partner @speechu on why we invested in @endurancegeo: ordnl.link/yIQE6V5

The bottleneck in AI isn't models anymore. It's power. Land is too contested. Space is too expensive. There's a third way: the seafloor. ~400°C heat half a km down, 2°C water on top — the best thermal gradient on Earth, and the cheapest electrons on the market. Why we invested in @endurancegeo: ordnl.link/l2j8N0z

We're finally shedding the .so (thank you Somalia!), and using the .com for @NotionHQ. And for this beautiful moment, I want to share a fun story: Back in 2018, I had just joined Notion, and one of the first things @ivan asked me to do was figure out how we could own notion.com. I had never done a big domain purchase before, so I reached out to a few domain brokers to understand the landscape. We tried different brokers, kept things anonymous, and attempted to surface a price the seller might consider. A year went by… nothing. Meanwhile, it was pretty clear this was only going to get more expensive as we grew. We needed a different approach. A fellow founder connected me to a broker who took a very different tack. Less transactional, more long-term relationship builder. He spent months getting to know the domain owner. Turns out owner was a fellow entrepreneur in the west coast… and a huge Grateful Dead fan. So we figured, why not get creative? Something beyond just price. So I called up our investor Ronny Conway and asked if there was any way he could help set up a private meeting between the domain owner and the Grateful Dead. Ronny is one of those people who somehow makes impossible things possible. A week later he calls me back: “New York City. Halloween. 15 minutes after the concert. Done.” The broker went back to the owner with an offer: some cash, some equity, and a private meeting with the Grateful Dead. That got his attention. He didn’t take the band meeting in the end, but he did lean into the equity (great call, in hindsight). We shook hands, and a few weeks later, the deal was done. I’ve been waiting years for the day we move our product to notion.com. Looks like 2026 is finally the year. Safe to say I’m unreasonably excited about this update!

We’re in a moment of structural inversion; everything is up for grabs. AI is rewriting the rules of economics, labor, productivity, and value creation. If you just pay attention to the headlines, you miss the bigger forces driving this change. x.com/felicis/status/2056414…

Huge milestone for @JanOberhauser and the @n8n_io team: SAP investing at a $5.2B valuation and embedding n8n into Joule Studio !! 🚀 We’re incredibly grateful to have been part of this journey since the early days. What’s always stood out about Jan is his willingness to make hard, non-obvious decisions early. In 2022, when most companies were “adding AI,” Jan stepped back and asked a bigger question: How does n8n become essential to the AI ecosystem? That led to a full repositioning, from workflow automation to a platform for building AI applications. Today: • 1.7M builders • 1,400 enterprise customers • A central role in how AI agents get built and orchestrated This partnership with SAP is an exciting next step. Grateful to be on this journey with you, Jan and team !! 🚀

Closed Q1 last week. Revenue is accelerating for the 7th straight quarter. AI now counts for 60% of our business. Cash flow positive. The transition from software to AI is not easy, but can be done! I am proud of our teams!

Runway added more than $40M in net new ARR so far this quarter, and we're less than halfway through. The biggest growth period in the history of the company. Generative video has hit its inflection point. Enterprises like Amazon and Robinhood are using Runway daily to reshape how they tell stories and reach customers, on our frontier video and world models. Thank you to our team and our customers. The best is yet to come.

I recall headlines from a decade ago when folks said Google was a one trick pony and they’d run out of people and time spent on apps to grow further

My nomination for most overused word of tech twitter this year is legible. Last year was taste.

These sorts of weird rules are how people miss generational companies like Canva

The Vercel hack now makes it four weeks straight of high profile breaches. Hoping for a small blast radius for those affected. I don’t think the pendulum swings back, we need to start building for assumed compromise.

Excited to announce that @SkildAI has completed the acquisition of Zebra Technologies’ robotics arm (formerly Fetch Robotics). By combining Zebra's human-robot orchestration platform with omnibodied Skild Brain, we plan to turn warehouses everywhere into hubs of hyper-efficiency. Imagine a single platform, single brain optimizing every movement of robots as well as human workers in warehouses. Many of us in the robotics community have used Fetch Robots in the past and have rooted for them over the years, so this acquisition is special for us in many ways.

Watching friends microdose GLP-1s and thinking this might be the moment keeping people healthy finally becomes an investable business model for pharma.

when i was a baby my dad was driving me late at night and a drunk driver asleep at the wheel hit us head-on. my dad was in a coma for weeks. i needed hundreds of stitches. i still have a massive scar. many years later, i got to work at waymo during the first few years we were testing, launching, and scaling in sf. there was a huge amount to do, but it all felt pretty fucking amazing when we got to see logs like this. superhuman moments. it's easy to write off these things as just another expensive uber competitor for techies who don't want to talk to people. but humans behind the wheel are one of the top causes of death and injury globally. and one day not long from now self driving cars will make the kinds of accidents that happened to me a thing of the past.

this is wild

Utterly shameful by Jonah Owen Lamb and @sfstandard