Ventures
I'm looking for forward thinking founders building for where software is going, not where it's been.
Investment Thesis
Software approaches free. As AI drives the cost of producing software toward zero, the Jevons paradox kicks in: we don't use less software, we use vastly more. But the economics of who captures value changes completely.
Pure software companies have no moat. If your only defensibility was "we built it," that's not defensibility anymore. The value shifts to distribution, data, relationships, taste, and speed of iteration.
All software changes fundamentally. We're moving from static, one-size-fits-all interfaces to ambient, intent-driven, dynamic UIs. Software that assembles itself based on context and user intent. Not chatbots bolted onto existing apps, but genuinely new interaction patterns.
Existing teams can't keep up. Most product and engineering teams are structured for a world where software is expensive to build. They're not equipped for a world where the bottleneck is knowing what to build, not building it.
Most SaaS is up for grabs. Replacing any given SaaS product is approaching a weekend project for elite tool users. The defensibility of "we have features" evaporates when features are trivially reproducible.
Personalisation becomes the default. We can now tailor software rapidly: to the business, to the persona, to the individual user, to the specific interaction. Generic software loses to software shaped precisely for you.
Every software market is basically contestable. If the above is true, then incumbency means far less than it used to. The opportunity set is enormous.
Most people hate their current software because it wasn't built for them. That's about to change.
I expand on this thesis in my Code BEAM Europe 2025 keynote: A Survival Guide for the AI Age.
Who I Want to Meet
I'm looking for deeply curious people who are experts in their chosen field and are deeply dissatisfied with the state of software in their industry.
You know it can be better. You have deep industry knowledge and domain expertise. You run a business or are a leader in your vertical. And you want to change it for the better.
If that's you, I'd like to hear from you.