Accel

Today, True Anomaly's JACKAL-0004 spacecraft officially begins VICTUS HAZE mission operations. Alongside @RocketLab and partners from the @USSpaceForce, True Anomaly will operate its Jackal spacecraft and Mosaic command and control system as part of the USSF’s most advanced demonstration of Tactically Responsive Space (TacRS) to date. We are proud to work alongside Rocket Lab, Space Safari, and the USSF operations community to execute this mission. Read more on our blog trueanomaly.space/newsroom/true-…

Congrats on coming out of stealth @TolmoHQ! My favorite thing about this team is that they demo something every time I see them. My second favorite (and arguably the more special) thing is that @pbetouin @JbAviat @arnaud_breton and @poledesfetes have come back together after their time @SqreenIO to rethink one of the most important problems in security. More below.

Let's go! We're out of stealth with @TolmoHQ! AI is completely redefining how software gets built. And how it's being attacked. Helping define what security means for this new world was impossible to resist. We had to go back! We’re building the AI agent fleet to secure production environments. Our security agents continuously work on a live production knowledge graph that connects data from code, cloud services, containers, databases, and third-party providers. Imagine high fidelity pictures of what you’re building, with a tracked history of changes at scale! Our team spent years on the offensive side, breaking into cloud services, kernels, or cryptographic implementations, as well as building observability and security solutions for thousands of customers in production at Datadog. Over the last few months, we’ve raised $22M, led by Accel and Y Combinator, assembled a stellar team in San Francisco and have been iterating with our first 45 design partners. It’s go time! Joining me today to announce Tolmo: my cofounders @JbAviat, @poledesfetes, and @arnaud_breton, alongside @msuiche and our early team @wbeuil, @jimmycaputo, @cryptonitemmk, @theraniarnia, and @TylerHaydenSF. We're psyched to embark on this new journey together! We're building Tolmo in the open, and we're looking for feedback. Would love to hear your thoughts about what we're building! tolmo.com/blog/introduci…

This show with @AravSrinivas is one of the best we have done. - The biggest problem today is power. - We will see large resistance to data centre buildout continue. - Micron will be worth more than Meta. - Export controls have helped China. - Monitoring token budgets is BS and only for losing companies. How is that for spice? I have added my notes from the discussion below but such a special show to do with Aravind in London. 1. Are Agents the End of the Internet Advertising Model? AI agents will disrupt industries built around objective transactions, but subjective spaces like travel, fashion, and shopping are more resilient. When intent is driven by vibes, exploration, and aesthetics rather than one correct answer, chat interfaces struggle to replace browsing, keeping much of the advertising model intact. 2. Biggest Takeaway From Elon Musk? An elite entrepreneur can identify the single limiting bottleneck in a business and focus on it with unusual intensity. True concentration requires discipline: you must ignore even important issues when they distract from the immediate objective that matters most. 3. Did Export Controls Hurt or Help US Competition With China? Export controls gave America a short-term edge by preserving a capability gap between open-source and frontier models. But they may have also forced China to become a stronger physical competitor by pushing its tech ecosystem toward memory-efficient architectures and deeper vertical integration. 4. How Will the Best Organizations Approach Token Budgeting? Enterprises will stop manually tracking model capabilities or micromanaging token budgets across teams. As model optimization accelerates, the best companies will outsource this complexity to AI orchestrators that automatically route tasks to the right models at the right cost. 5. How Can America Retain Competitiveness in AI? The West must build physical infrastructure aggressively, streamline power procurement, and counter alarmist narratives around data centers and job displacement. Leaders should explain the upside clearly: AI can let tiny teams build billion-dollar companies and drive major new GDP growth. 6. What Is the Single Most Important Metric in AI? The key metric is token value per watt per user. Raw model building and fine-tuning are becoming commoditized. The real venture-scale value will accrue to orchestration layers and agent harnesses that deliver high-quality outputs while using minimal data center power. 7. Why Is Moving Fast the Ultimate Expression of Humility? Founders often waste early cycles searching for a permanent moat, when speed is their only real defense. Moving fast is an act of humility because it forces constant contact with the market, repeated assumption testing, and a willingness to let reality overrule ego. (links below)

Supabase has raised $500M at a $10B valuation In this round we are giving @supabase employees the opportunity to cash out 25% of their vested options. We have done this in every round since inception. We do it as a “cashless transaction” so that employees don’t need to front any cash to exercise their options. This is the friendliest way we could design it until we can offer RSUs. On top of that, we give employees a 10 year exercise window: whether they stay or leave the company. The typical/default window is 3 months. IMO, equity is earned and employees shouldn't be penalized because they don't have the cash to exercise within 3 months of leaving a job (often that's the time they need the cash/certainty the most).

VoidZero is joining Cloudflare today. I’m really happy for @evanyou and the team. I’ve admired Evan’s work since long before I met him (Vue days!), so getting to be a small part of this journey has been insanely fun. Excited for what they’l build next! Blog post below.

We threw a poker tournament for the top minds in AI. Shoutout @cognition, @cursor_ai, @perplexity_ai, @anthropicAI, @openAI, @thinkymachines, @midjourney, @tryramp, @xAI, and more who came to the table. Huge thanks to @Accel for co-hosting. Already excited for the next one. ♠️