Supercruise Capital

The top 10 private companies capture 76% of all secondary demand. That's not a market. That's a crowded trade with a nice name. At a dinner the other week, @PeterJ_Walker shared Cartа's data, which makes the bifurcation impossible to ignore: parabolic valuations at the top, hollowing of the middle. Some of the best companies aren't invisible because they're bad. They're invisible because the funds got too big to see them or lack the courage to be different. More thoughts on this in the comments.

Thread 1/3: Ted Williams knew his batting average in every part of the strike zone—and crushed .400 in his power zone. Growth equity needs the same adaptation today. AI is accelerating startup scaling: $10M ARR in months, not years. The old "wait for 3 years of data" strike zone? It's shrinking fast.

Happy 4th of July! Today, we celebrate the misfits who dared to dream bigger. They weren’t perfect, but they built a nation on ideas: liberty, opportunity, and the pursuit of something better. America’s founding proves that outcasts with vision can change the world. 🇺🇸 🇺🇸

AI is transforming education with dynamic learning pathways! Personalized, adaptive learning boosts engagement & outcomes while tackling costs & literacy gaps. The future of education is here.

@alexklein0x @MarathonMP It may be less dethroning and more of a back to basics, but there are a lot of incredible emerging managers working to better align with the goals of founders and LPs Appreciate you shouting out @supercruisecap!

@thechangj @MorgLiv @ethankurz @saranormous @amanda_robs 🫡🔥

When I was an undergrad, I frantically searched for internships, cold-emailed alumni, and attended every networking event I could. I still remember the anxiety of watching friends land prestigious internships while I was piecing together whatever finance experience I could find. With friends, I even bought a small company to run to gain experience I could talk about during interviews. Today marks a special moment for me and @supercruisecap: We're welcoming our team's first interns. As we did our orientation meeting, I couldn't help but smile, remembering my own journey and feeling like I had finally made it. If only I'd been as accomplished and relentless as these two. To our first two interns: I promise to be the mentor I needed back then. Here's to paying it forward. 💪 To everyone out there grinding through applications and facing rejections – keep pushing. There are a lot of doors to knock on! We're planning on a quarterly intern program and my inbox is always open!

Happy first birthday, @supercruisecap! What started as an operating manual outline is taking shape like in a way I could only hope for. Built for the long flight.

Happy Veterans Day Thanks to all who serve to keep us safe and in the lead 🇺🇸 🇺🇸

Customer research often leads to the discovery of new products to be build. Founder research is leading to the (re)discovery of how companies can be built. There needs to be a new type of investor that aligns with supporting these founders. theafterburner.substack.com/p/the-coming-v…

Excited that @ApiPlatform is now available for Laravel. Build world-class APIs easier than ever before. 🤝

I'm excited to announce that Laravel has raised a $57M Series A in partnership with Accel. I believe that Laravel is the most productive way to build full-stack web applications, and Laravel Cloud will be the platform for shipping those applications that this community deserves.

A classic example of bootstrapping success: @laravelphp @taylorotwell's relentless pursuit of customer happiness and product innovation have built Laravel into a beloved company. This milestone and partnership with our friends @Accel is a testament to his vision and unlocks a promising next chapter for everyone in the ecosystem! Honored for @supercruisecap to be part of this next phase.

How do you set yourself apart as a GP? Find something that everybody else is doing poorly, and do it better. A great read below from Benedikt Langer, General Manager at The Sutton Firm (single family office), on the importance of differentiating through language. 🗣️ The way you talk about your investment focus, your personal stories, how you perceive the market, your portfolio construction, the traits you look for in founders, etc. S/O to the emerging managers doing this well: @dkimerling, @erica_wenger, @MorgLiv & @DStrachman #EmergingManagers #GPs

🚀✈️ Startups: Are you an afterburner or a supercruiser? Explore how VC-backed companies and capital light startups mirror jet propulsion tech. Link below @supercruisecap

This was an excellent read on Stock Market Concentration and helps explain some of what's happening with the Magnificent 7 vs the broader market morganstanley.com/im/publication… A few notes:

Will AI Cannibalize Venture Capital? Did venture capital dollars fund the industry's own demise? Do companies need to raise as much money if their cost structures significantly improve? How are funds positioned? @supercruisecap is built for this. theafterburner.substack.com/p/will-ai-cann…