The book
Theses & Memos
Structured convictions I hold across sectors, and deal-by-deal verdicts on the specific positions I’ve worked through. PASS memos published alongside the ones I acted on.
Jul 2026Memo
Panthalassa
A wave-powered ocean data center Thiel just backed. The platform may be worth building; the cargo it carries is racing to zero.
PASS
May 2026Thesis
Photonic Interconnect
Light as the structural successor to copper in AI scale-up.
Active conviction
Updated Jul 2026Memo
Dolphin Network
They built the customer before they built the network. The token buys itself with 100% of network revenue. The API has not opened yet.
STARTER
Nov 2025Memo
Venice AI
A dual-token AI protocol — VVV for ownership, DIEM for compute — built for autonomous agents, not humans.
Active conviction