Domes, Drones, & Deep Pockets

📈 Portfolio Pulse

🚀 SpaceX: Satellites, Silicon, and an IPO 

SpaceX crossed 10,000 active Starlink satellites in orbit, representing roughly two-thirds of all active satellites on Earth. Elon Musk also unveiled Terafab, a $20-25 billion chip facility being built with Tesla and xAI in Austin to produce chips for SpaceX's orbital data centers and Tesla's vehicles -- cutting dependence on outside suppliers entirely. And on the IPO front, SpaceX is planning to allocate 30% of its offering to retail investors, three times the industry norm, at a valuation of up to $1.8 trillion. Space | Yahoo Finance | TechCrunch

🤖 OpenAI: Big Week, One Big Miss

OpenAI plans to nearly double its workforce to 8,000 employees by year end, hiring roughly 12 people per day across engineering, research, and sales. The company is also sweetening its enterprise pitch against Anthropic, offering private equity firms preferred equity with a guaranteed 17.5% minimum return to accelerate AI adoption across their portfolios. The week wasn't all good news: OpenAI is shutting down Sora, its AI video platform, ending a planned $1 billion Disney partnership in the process. No money had exchanged hands before the deal collapsed. Reuters | Variety

⚡ Reflection AI: $25B and Climbing

Reflection AI is in talks to raise $2.5 billion at a $25 billion valuation, more than tripling its previous $8 billion mark. Nvidia is a key backer and JPMorgan is reportedly considering participating. The company is part of an Nvidia-led effort to build open-source AI models to counter China's advances. Barron's

⚔️ Anduril: The Brain Behind Golden Dome

Anduril and Palantir are developing the command-and-control software layer for Trump's $185 billion Golden Dome missile defense program, described by Space Force Gen. Michael Guetlein as the "glue layer" that ties together radars, sensors, and missile batteries across services. The consortium is targeting a platform test this summer. MSN

🖥️ Anthropic: Claude Takes the Wheel

Anthropic launched computer use for Claude on macOS, letting the AI agent take over your computer to complete tasks while you're away. Text it a task from your phone and Claude will open apps, navigate browsers, fill spreadsheets, and click buttons to get it done. Available in research preview for Pro and Max subscribers, with Windows support coming soon. CNBC

🎯 Kalshi: Getting Ahead of the Regulators

Kalshi launched new guardrails this week, proactively blocking politicians and athletes from trading on markets tied to their own campaigns and games. The move comes ahead of pending CFTC guidance and Congressional legislation targeting insider trading on prediction markets. Polymarket followed with its own updated rules the same day. The Verge

🧠 Neuralink: Thoughts Into Words

Neuralink demonstrated its brain chip translating silent brain signals into audible speech in real time. Patient Kenneth Shock, who has ALS, communicated without moving his mouth as the N1 implant detected neural activity, matched it to phonemes, and spoke them aloud through a computer. Neuralink also launched a new trial called VOICE, targeting conversational speeds of 140 words per minute. PCMag

👀 Watch List

🕳️ Boring Company: Three Cities, Zero Cost

The Boring Company announced the winners of its Tunnel Vision Challenge this week: New Orleans, Baltimore, and Dallas will each receive a fully funded underground passenger tunnel at no cost to the city. Dallas gets the University Hills Loop, connecting a residential neighborhood directly to a DART transit station. Diligence begins now. Texas Tribune

⚖️ Harvey: $11B and Growing

Legal AI startup Harvey raised $200M at an $11 billion valuation, co-led by GIC and Sequoia. The company hit $190M in ARR in January, nearly doubling from $100M just six months earlier, and now serves more than 100,000 lawyers across 60 countries including the majority of the AmLaw 100. Worth noting: Harvey is also a launch partner in Anthropic's Claude Marketplace. Harvey

🤖 Amazon: Betting on Humanoids at Home

Amazon acquired Fauna Robotics, a startup building Sprout, a 3.5-foot kid-sized humanoid robot designed for the home at $50,000. It's Amazon's second robotics acquisition this month. The team joins Amazon's Personal Robotics Group, signaling a serious push into consumer humanoid territory. Yahoo Finance

🧠 Hark: Building What Comes After the Smartphone

Brett Adcock, CEO of Figure AI, is quietly building a second company. His secretive AI lab Hark revealed that Abidur Chowdhury, the Apple designer behind the iPhone Air, has joined as Director of Design. Hark is building a personal intelligence product that can listen, see, and interact with the world in real time, with a first model release expected this summer. TechCrunch

💬 Prompt

What can I help you with?

Write my obituary as it would read if I died in 30 years, based on the trajectory I'm currently on. Not the aspirational version. The honest one. Then write the version I'd actually want. Show me the gap.

📚 Content

🥇 The Most Valuable Private Companies in the US

Five of the nine most valuable private companies in America are companies we've backed with many of you. Pretty good list to be on.

🚀 Rocket Woman

Gwynne Shotwell, President and CEO of SpaceX, sat down with TIME for a wide-ranging interview covering SpaceX's merger with xAI, the IPO, and what comes next. The xAI merger happened fast and was Elon's call, and Shotwell fully backed it, seeing it as a way to accelerate AI integration into rocketry and factory operations. On Starlink, the company has surpassed 10 million customers, crossed 10,000 satellites in orbit, and quietly filed FCC licensing for up to 1 million AI satellites to build a distributed space-based data center network. The Moon is a growing priority, with Shotwell expecting humans on the lunar surface before 2030 and seeing it as a manufacturing hub where lower gravity makes launches faster and cheaper. On working with Musk after nearly 24 years: she still loves it, finds him funny, and says interactions have only gotten easier over time. This is a great read and we encourage you to read it.

🎧 Drop The Beat

Some of our best work happens in the hours when nobody is talking. No meetings, no notifications, no words, just the problem in front of you and enough time to actually think. We put this Spotify playlist together for exactly those moments. It lives in the background without demanding anything from you, which is the whole point. Put it on, close the tabs you don't need, and see what you can get done.

🤝 Get in the Room

Private investing for (almost) everyone*

We are a curated network of exceptional angels, VCs, family offices, founders, and industry experts investing in pre-IPO companies. We back sharp operators and high-leverage deals. We move fast. We bring value. We don’t miss around the edges. Deals don’t wait. Neither do we.

*Vibes and values must be aligned. Must be an "accredited investor."