Tremendous

An angel investor's take on life and business

  • Gemma 4: Strong on Basic Tasks, Weak on Real Research

    Google recently dropped Gemma 4, its most powerful open model ever. Gemma 4 excels at common tasks like summarizing documents. But for deeper research, it falls short.

    This morning, I ran Gemma 4 through a three round test. I had it perform real tasks I do every day as an investor.

    Let me show you what Gemma does well and where it struggles… 

    Round #1: Prepping for a Founder Meeting

    Next week, I’m meeting the founder of a really interesting robotics company. Can Gemma prepare me? 

    Gemma couldn’t find any information on the founder.  I wondered — is this just because she’s very private? 

    So, I asked Grok the exact same question. Grok pulled everything in seconds! 

    I’m giving Gemma an F on this round. 

    Round #2: Finding New Investments

    Gemma had a tough time researching people. Maybe it will do better with companies?

    I asked Gemma to find companies in the three areas I mentioned on yesterday’s post. 

    • American-made photovoltaics
    • Robots for rare earth mining/refining
    • Fiber optic wire guided drones

    I asked Gemma to return specific information about each company. Let’s see what this model can do…

    Gemma found a nice list of companies in the areas I’m looking for. It also gave me some useful info about each one.

    I would’ve liked Gemma to focus on companies that are a little earlier stage. Still, it found some fascinating startups.

    I’m giving this round a B+.

    Round #3: Summarizing a Deal Memo

    For the final round, I had Gemma summarize a deal memo in a startup I invested in last year, Cortex AI. 

    I often refer back to my deal memos to inform follow-on investments. If Gemma can do a good job summarizing the memo, that would be super helpful.

    Gemma gave me a great summary, calling out key info like the founder’s background and early traction. 

    For the first two rounds, I used Gemma 4 31B IT, which Google calls its “flagship open-weight dense model.” For the this final round, I tried Gemma 4 26B A4B IT, a mixture of experts model designed to be extremely compute efficient.

    If Gemma 26B can summarize a complex document like this, it should do well on pitch decks, news articles, and a lot more. And the cost will be minimal. 

    I’m giving this round an A.

    Wrap-Up

    I’m giving Gemma 4 a C+ overall. 

    Gemma does a good job at basic tasks like summarizing a document. But ask it to go a little deeper, and the model struggles.

    I suggest using Gemma for simple tasks in the applications you build. It handles those competently and cheaply (especially 26B).

    For more complex tasks, stick to one of the frontier models.

    More on tech:

    Request for Startups: American-Made Solar, Rare Earths and Next Gen Drones

    Grok Imagine Quality Mode: Jaw-Dropping Images, But Text Still Struggles

    Google Stitch Let Me Design a Sleek Angel Investing App in Minutes – Here’s How

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • Request for Startups: American-Made Solar, Rare Earths and Next Gen Drones

    We’re falling behind our adversaries in critical areas: solar panels, rare earths, and drones. Will you be the founder who puts us back on top?

    This morning, I want to put the word out on some critical areas where I’m looking for startups. All three share a theme: America’s independence and security. 

    If you’re building in any of these areas, let me know… 

    American-Made Solar

    Solar panels can help make us energy independent. But like so many other things, the components all come from China. 

    To make a solar panel, you need photovoltaic cells. 97% of these are made in China. 

    America needs to make our own cells. We also need to make wafers, polysilicon, and other components.

    I’m looking for vertically integrated solar panel manufacturers here in America. Such a company would probably make heavy use of robots to keep costs down. 

    Refining Rare Earths, on Autopilot

    We need rare earth minerals to make solar panels, semiconductors, and many other electronics. But just like solar panel components, China has a lock on the market.

    China produces 70% of the world’s rare earths. China doesn’t have a monopoly on rare earth deposits. They’re found all over the world, including the United States.

    But China does have a near monopoly in rare earth refining. This is a dirty process that’s required to turn the ore into minerals.

    America needs to refine rare earths on a massive scale. I’d like to see new, cleaner refining methods. This could help with NIMBY opposition.

    One exciting possibility is using proteins to isolate rare earths from ore. Researchers at Penn State pioneeered this much cleaner process.

    I also want to see robots for rare earth mining and refining. This would help with costs and safety. 

    Drones with Wires — A New Weapon

    Most drones communicate via radio signals. To defend against drones, we often block those signals. 

    But Russia has developed drones that go right through these defenses. 

    These new drones are controlled by wires. The wires can stretch up to 20 miles.

    These drones are devastating Ukraine. The US doesn’t appear to have anything comparable.

    I want to meet startups working on wire-controlled drones. These could help us bust through enemy defenses.

    Wrap-Up

    I’ve lived in this country all my life. It’s very important to me that America be secure and independent.

    Right now, we are falling behind our adversaries in critical areas. 

    China vastly outproduces us in solar panel components and rare earths. Russia has developed new drone technologies we don’t have.

    The best way to solve these problems isn’t some big, slow Megacorp. It’s a couple of guys in a garage, working like maniacs.

    If you’re one of those guys (or gals), I need to hear from you.

    More on tech: 

    Meet My Latest Investment: Cryopets

    Request for Startups: American Drugs, Litterbots and Robochefs!

    Why Giving 5% Equity to an Advisor is Insane

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • Grok Imagine Quality Mode: Jaw-Dropping Images, But Text Still Struggles

    Elon just dropped Grok Imagine Quality Mode. It creates sharper, more detailed images than ever. But in some areas, it still struggles.

    This morning, I took Quality Mode out for a test drive. Here’s what Grok does well and where it fails.

    Round #1: Big Buffett Energy

    Warren Buffett has been my hero since I was a kid. What if we could make his exterior match the power of his intellect?

    I had Grok make an image of a jacked Buffett in the gym… 

    Grok did an incredible job! The image is unbelievably sharp — better than the best I’ve seen from Google’s Nano Banana. 

    It followed my instructions well and added fun elements, putting Warren in a snazzy Berkshire Hathaway tank. Where can I get one of these?

    I’m giving Grok an A+ on this round. 

    Round #2: Training With the Big Guy

    Quality Mode can also make videos. Let’s put Big Buffett in motion!

    With one click, Grok generated an awesome clip of Warren pumping iron. 

    Everything looks realistic except his motions, which seem slightly unnatural. I’ve never seen anyone do the lift Warren is doing.

    Overall, it’s a fun video! I’ll give this round an A-. 

    Round #3: Making an Infographic From My Blog Post 

    I love making silly images of Buffett. But can Quality Mode do something more substantive?

    Quality Mode claims to have much better text rendering. So, I asked Grok to make an infographic of my post on what makes a top YC company.

    Grok really struggled here. 

    It invented random numbers that don’t appear in my post, like a median $4.2 million in ARR. Nothing in this infographic actually follows my post.

    Grok gets an F for this round.

    Wrap-Up

    I’m giving Grok Imagine Quality Mode a B- overall.

    Grok’s outputs vary a lot based on what you’re doing.

    If you’re making images or video, Grok is the best there is. If you’re doing infographics, stick with Nano Banana. 

    We’re lucky to live in a time when AI allows so much creativity. In the past, if you weren’t great at drawing or photography (me), you were stuck. 

    Not anymore. 

    Give Grok Imagine Quality Mode a shot and make some awesome images! 

    More on tech: 

    Making Impossible Videos With the New Grok Imagine 1.0

    Google Stitch Let Me Design a Sleek Angel Investing App in Minutes – Here’s How

    I Tested Google’s New Personal Intelligence: Great for Email Digging, Terrible at Basic Travel Info

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • I Tested Google’s New Personal Intelligence: Great for Email Digging, Terrible at Basic Travel Info

    Google recently dropped Gemini Personal Intelligence. Gemini can now pull info from your Gmail, Photos, YouTube and more. It has incredible capabilities, but also surprising flaws.

    This morning, I put Personal Intelligence through a three-round test… 

    Round #1: Travel Planning

    I started with something easy: planning my trip to Japan.

    Say I’m at the airport later this month on my way to Tokyo. I need to pull the flight number without digging through my inbox.

    Can Gemini find it? 

    Gemini gave incorrect information, saying that I’m on Japan Airlines and flying to Narita. I’m actually on United and going to Haneda.

    I’m giving this round an F.

    Round #2: Finding a Favorite Photo

    I visited some family in Kentucky a while back. Can Gemini find photos from that trip? 

    Gemini asked me to connect my Google Photos, which I did. Then, it gave me some faces from my camera roll and asked which is me. 

    I clicked on myself. The search began… 

    It found a pretty photo from the square in Elizabethtown. This might have been the only picture I took, since I wasn’t there long.

    This will be really helpful in searching through my camera roll! I hope Apple Photos adds something similar.

    I’m giving this round an A. 

    Round #3: Searching My Email for Founders to Reconnect With

    These personal use cases are fun, but can Personal Intelligence help my business?

    I asked Gemini to find which founders I was e-mailing most a year ago. Then, I can contact them for an update. 

    Here’s what Gemini found (identifying details redacted for privacy):

    Gemini did a great job of searching my email. It would have taken me at least a half an hour to pull this info; Gemini did it in about 30 seconds.

    I totally forgot most of these guys! I’m going to email the last fella on the list for an update. I was especially excited about his startup!

    This is a powerful tool to manage email. I’m giving this round an A+. 

    Wrap-Up

    Overall, I’m giving Gemini Personal Intelligence a B-.

    Personal Intelligence has incredible powers. It’s connected to every service we use, from Gmail to YouTube. It can do a lot of the same things as Openclaw with better security and ease of use. 

    But it makes some surprisingly boneheaded mistakes.

    Personal Intelligence is hard to rely on. But for jobs that aren’t critical, Personal Intelligence can be really useful. 

    I’m excited to see what Google adds to Personal Intelligence. If they can improve accuracy, this could be the most powerful tool in AI. 

    There will be no blog tomorrow for Good Friday. I’ll see you on Monday. Happy Easter!

    More on tech:

    JCal’s Accelerator Just Dropped a Killer Cohort — Here Are My Top 3

    How to Find VCs Near You and Pitch Them In Person

    $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • JCal’s Accelerator Just Dropped a Killer Cohort — Here Are My Top 3

    Jason Calacanis runs one of the best accelerators: the LAUNCH Accelerator. I’ve invested in a dozen of their graduates. Here are my top 3 startups in their new cohort…

    3. Lauft. I love stalking Zillow to see all the cool houses for sale. What if I could swipe like Tinder and find the perfect home? 

    That’s the idea behind Lauft — Tinder for houses. Swipe left or right on each listing. As you swipe, the algo learns what you like and helps you find the ideal home.

    House listings are already addictive. Add the swipe, and people will be glued to Lauft.

    PropTech is a tough market, but it’s massive. Crack it and the rewards are almost limitless. 

    2. Argonath. Everyone is in a mad rush to deploy agents. But are they secure?

    Argonath lets you deploy agents with the highest level of security. These agents even meet DoD standards. 

    We’ve seen high-profile companies like Anthropic get hacked recently. AI is going to make hacking easier than ever.

    Wiz proved that if you have a top-notch security product, you can grow at an incredible speed. Argonath could be on the same trajectory. 

    1. SuperTranslator. Have you ever wondered what your dog is thinking? SuperTranslator can tell you!

    Just train your phone’s camera on your dog. Then, SuperTranslator decodes his body language. The app can tell you if he’s playful, nervous, happy, or sad.

    SuperTranslator relies on numerous published studies to understand animal behavior. Understanding our little friends can bring us closer. 

    I hope it works on gerbils some day!

    SuperTranslator is my top pick in the LAUNCH cohort so far. I like the weird ones!

    Getting into a stranger’s car was weird. Staying in a rando’s spare room was weird.

    But sometimes, weird wins. 

    Wrap-Up

    I’ve been investing in LAUNCH Accelerator companies for five years. This is one of the strongest cohorts yet. 

    These are real businesses with builder founders, launched products, and paying customers. That’s rare for early stage startups!

    This cohort of eight companies just started the program, and there’s a long way to go. Any one of these startups could pull ahead and hit number one.

    Best of luck to these awesome founders!

    Image: “Jason Calacanis” by Peter Kaminski is licensed under CC BY 2.0.

    More on tech: 

    How to Find VCs Near You and Pitch Them In Person

    $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    Your Deck Probably Sucks. Here’s How to Fix It.

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • SaaS Is Cheaper Than Ever — But It’s Not Going Anywhere

    SaaS stocks are the cheapest since the Financial Crisis, trading at 4x ARR. Markets think everyone will vibecode their own CRM. Here’s why they’re wrong…

    Markets Move Toward the Most Efficient Outcome

    In a free, competitive market like the United States, markets tend toward the most efficient outcome.

    Imagine two possible worlds… 

    1. Each company vibecodes its own SaaS product. 
    2. A small, focused team builds one SaaS product for everyone. 

    Which is more efficient? 

    World #2, of course! The total number of man hours to produce the software is much lower. 

    What’s more, the World #2 team specializes in software development. This means they’ll produce a better product.

    Why would a free market produce an outcome that costs more and wastes time? 

    Vibecoding Is For Dweebs (Like Me)

    There’s another reason why everyone won’t vibecode their own software: they just don’t want to.

    We tech dweebs love making weird little tools. The average person has no interest.

    Even before AI, products like Bubble made it easy to pop up an app without code. 

    A handful of highly motivated people did it. But most didn’t. 

    The average person would rather scroll Instagram, watch TV, or have a beer.

    No matter how easy you make software development, they’re not going to do it. 

    The Real Threat to SaaS Companies

    The real threat to Big SaaS isn’t customers making their own product. It’s hungry startups. 

    A team of four lunatics in San Francisco using Claude Code can knock off your product in a weekend. 

    They’re hungry. They’re motivated. They’re everything corporate employees aren’t. 

    If they can produce a solution that’s better or cheaper, they’ll start to win over your customers. And they’ll dominate the market for new companies that don’t yet have a solution.

    The only way out is to disrupt yourself. Start embedding great AI features in your product now, if you haven’t already.

    Wrap-Up

    The only people who think big companies are going to vibecode their own software are people who have never worked at one.

    I spent many years working in huge organizations. Moving one button could take countless meetings.

    These companies are not going to vibecode their own CRM anytime soon. 

    With SaaS stocks in the bargain bin, look for founder-led companies with strong product velocity. The founder has the authority to pivot the company on a dime.  

    If you see a founder-led company rapidly shipping great new AI products, it could make a fantastic bet.

    More on tech:

    Trading at 0.2 Times Sales — The Most Hated Companies in SaaS

    SaaS Isn’t Dead — Time to Buy the Dip?

    $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • How to Find VCs Near You and Pitch Them In Person

    Investors like me are bombarded with e-mails. A face-to-face chat makes you stand out. Here’s how to find investors to pitch in person…

    OpenVC has an amazing free tool called OpenVC Map. It maps the location of over 16,000 venture firms and angel investors worldwide. I’ll actually be showing up on the map myself soon!

    Here’s how it works…

    Take my stomping grounds, the NYC area. The largest concentration of investors is around 50th and Park in Midtown. No shocker there — that’s the biggest center of finance in the world. 

    You can see every investor plotted on the map. Click on one and get info on their investment strategy and how to contact them. 

    Let’s click on Insight Partners. They’re one of the largest venture firms in the world.. 

    On the Insight profile, we can see that they write checks from $7M to $700M. We also see the regions where they invest, the stages they like, and even their address. 

    You can pitch them by clicking the Submit Deck button. If Insight likes what you’re doing, you can propose an in-person meeting. 

    Now you know where their offices are! 

    OpenVC works all over the world. There are 99 investors in Tokyo, 108 in Berlin, even 23 in Lagos!

    Use the OpenVC map to get in person with investors. If you impress them face to face, they’ll be reaching for their wallet.

    More on tech: 

    $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    Your Deck Probably Sucks. Here’s How to Fix It.

    My $698,000 Miss on Figure and Anthropic

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Why You Need Revenue to Raise Capital in 2026

    You’re crushing it online – 750,000 visitors in 120 days. You’re ready to raise a round, right? Wrong. 

    Lots of Eyeballs, No Revenue

    Even if a startup gets a lot of attention online, it’s usually not enough to raise capital today. 

    Take the example of a founder on Reddit… 

    He’s built a site to sell car parts. The site is extremely popular, with nearly a million visitors in just four months. 

    But he hasn’t been able to monetize. 

    Attention Isn’t All You Need

    For most startups, lots of eyeballs and no revenue isn’t enough to raise capital today.

    With companies hitting a million in revenue in mere weeks, a pre-revenue company isn’t compelling. 

    If the founder can’t find a way to monetize all those eyeballs, what good are they? 

    The Exceptions

    Some startups can raise large sums without revenue.

    Consumer social startups typically focus on growth for a long time before monetizing. That’s the model we’ve seen from Facebook, Snapchat, etc.

    If they can show strong growth and retention of free users, they may be able to raise millions without any revenue.

    Consumer SaaS can also get away with being pre-revenue for the first several years. Luis von Ahn did this successfully at Duolingo.

    Deep tech startups are usually pre-revenue at seed. A prototype and strong team is enough.

    And if a founder has an incredible track record, all bets are off. He may be able to raise millions with a couple of iMessages. 

    My Best Advice for Pre-Revenue Founders

    Forget about the exceptions. Focus on the rule.

    Raising money from angels and VCs will be difficult. Bootstrap your way to the first couple customers.

    And consider an accelerator! Accelerators specialize in making bets on nascent companies like yours. 

    Wrap-Up

    Being an early-stage founder is the classic chicken and egg problem. You need capital to grow. But without growth, you can’t get capital.

    It’s frustrating. What good are these “investors,” anyway? 

    Forget about them for now. Bootstrap your way to a couple of customers. Get into an accelerator. 

    Then, when you graduate, you can raise that multi-million dollar round. 

    More on tech: 

    $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    Meet My Latest Investment: Cryopets

    My $698,000 Miss on Figure and Anthropic

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

    Wispr Flow

    I used this app every single day to dictate to my computer, I’m even dictating this text using Wispr Flow! It’s way better than Apple’s native dictation.

    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • AI Just Turned Epstein’s 1.4 Million Emails Into a Calendar — What It Shows Is Chilling

    You can now browse Jeffrey Epstein’s entire calendar online. This morning, I dug into his schedule to find out what day-to-day life was like for the notorious sex offender… 

    The Banality of Evil

    Hannah Arendt coined the term “the banality of evil” while reporting on the trial of Adolf Eichmann. Maybe all evil people, regardless of scale, are like that.

    It’s amazing how much of Epstein’s schedule is incredibly mundane: tooth cleanings, UPS packages, even CPR training. 

    It looks like it could be the schedule of any rich, busy man. Except for one thing… 

    Lolita Airlines

    Epstein was basically running Lolita Airlines. You see countless calendar items with flights for young women. 

    The logistics are very complex. Girls are ferried from one city to another constantly.

    Epstein would’ve needed numerous assistants to run this complex operation. I’m guessing a lot of Ghislaine Maxwell’s time was spent organizing all this travel.

    To add insult to injury, Epstein made at least some of his victims fly coach. 

    A Whirlwind of Activity

    “There’s a psychological condition known as alexithymia, common in certain personalities. The individual craves almost ceaseless action, which enables them to avoid acknowledging the abhorrent things they do.’

    ‘Abhorrent? What certain personalities?’

    ‘Antisocial personalities.’”

    Reading through Epstein’s calendar, I was reminded of Tony’s exchange with Dr. Melfi in season two of The Sopranos.

    Epstein certainly kept busy. A typical week could include over 100 calendar appointments. 

    Meetings with this one, flights here, flights there.

    I have no idea how Epstein kept track of it, even with assistants. It sounds exhausting. 

    Did this whirlwind of activity help keep Epstein’s mind off the terrible things he did? 

    The Power of AI

    It’s incredible that AI can analyze a million Epstein emails and turn them into a browsable calendar.

    The folks behind this project used Reducto to pull it off. Reducto can take massive amounts of unstructured data and get it into a structured format with incredible accuracy.

    Tools like this are going to be invaluable in legal discovery. Reducto would also be great for helping intelligence agencies analyze signals intelligence. 

    Just a couple years ago, we never would’ve been able to recreate Epstein’s calendar like this. I wonder what will be possible a couple of years from now? 

    Wrap-Up

    If there’s one thing that’s clear from looking at Epstein’s schedule, it’s how complicated his life was.

    Epstein couldn’t run his business alone. He couldn’t handle the logistics of abusing these young girls alone, either. 

    Lots of people knew what Epstein was doing. Lots of people helped him. 

    I hope every one of them sees the inside of a prison cell. 

    More on tech:

    Normies Are Still Underestimating AI

    No, We’re Not Over-Investing in AI — Here’s the Math

    Finding the Next Billion Dollar Startup with Openclaw

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

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    Misfits Market

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    Wispr Flow

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    My productivity is up about 25% since I started dictating rather than typing. I’m also less tired and stressed.

    Get a free month of Wispr Flow Pro here!

  • $1 Million By Demo Day — What Top YC Startups Look Like in 2026

    14 out of almost 200 startups in YC W26 hit $1 million ARR by Demo Day, according to Garry Tan. That’s the highest ever.

    $1 million ARR by Demo Day is what an elite YC startup looks like in 2026. 

    The Numbers, Straight from Garry

    I look at tons of startups in every YC batch. Hitting $100k ARR used to mean you were one of the top companies. Not anymore. 

    Yesterday, Garry Tan announced on X that YC W26 had the most companies ever hit $1 million ARR by Demo Day. When I asked him how many, he replied that 14 of them hit that milestone.

    Just a couple of batches ago, almost no one would hit $1 million by Demo Day. Now, about 7 percent of YC startups do it. 

    I nailed one myself! Yesterday, I wired for an awesome SaaS company in W26 that recently crossed $1M.

    Why Are Companies Growing Faster?

    AI. 

    AI has made every aspect of running a company faster. You can code faster, contact leads faster, even raise money faster by having AI generate your deck.

    Not wanting to be left behind, businesses are eagerly buying AI tools. When you’re selling into a market like that, you can hit $1 million faster.

    What Does Average Look Like?

    Of course, $1M ARR companies are far from typical.

    From what I’m seeing, the average YC startup has ARR below $100,000. Most software companies have at least some paid customers, but they’re still early.

    Even if you’re not one of the top companies in your batch right now, there’s hope!

    Demo Day is just one day in a company’s life. Maybe you’re not one of the cool kids today. But you could be a huge success later!

    Are the Rounds Open? 

    For the top companies, you’d better get your check in before Demo Day. Demo Day was yesterday, so if you haven’t already nailed one of those $1M ARR companies, you’ll probably have to wait for next batch.

    For average companies, I’m still seeing rounds open. 

    Contact founders you’re interested in sooner rather than later. Meetings have already been going on for a week or more. You don’t want to miss the boat. 

    What About the Prices?

    The best YC companies are growing at ridiculous rates. But can you invest at a price that makes sense?

    Occasionally, the answer is yes. These $1 million ARR startups typically come at valuations between $25 and 40 million.

    I’m comfortable with the lower end of that range. But when you get closer to $40 million, I tap out. There just isn’t enough upside left.

    Valuations go even higher. I saw prices of $50, 75, and even 100 million this batch!

    Oddly, the companies with tons of revenue aren’t raising at the highest valuations. The highest prices I’ve seen in W26 were for deep tech companies.

    There seems to be a bubble in deep tech right now. This may be because everyone’s afraid of the foundational models killing application companies. 

    Wrap-Up

    We can grouse about YC’s valuations. But where else can you find startups just a couple months old with $1 million ARR?

    YC is still producing some of the best companies in tech. Choose carefully, and you could find yourself in the next Stripe. 

    More on tech:

    Your Deck Probably Sucks. Here’s How to Fix It.

    Meet My Latest Investment: Cryopets

    My $698,000 Miss on Figure and Anthropic

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order.