Warships, Wallets, & Weekly Active Users

⛳️ A Tradition Unlike Any Other

Rob will be at Augusta National next week for The Masters on Thursday and Friday. If you’re going to be there and want to link up, send him a message.

🏀 I-L-L !

Chris’ alma mater (University of Illinois) is in the Final Four. The prediction market contracts he bought at $0.06 (on November 18th) for the Fighting Illini to win the championship are now up to $0.18 on Kalshi. GO ILLINI!

📈 Portfolio Pulse

🚀 SpaceX: The $2 Trillion IPO Is Taking Shape

SpaceX is now targeting a valuation north of $2 trillion for its public offering, per Bloomberg, with a June listing on the horizon. The most anticipated IPO in history just got a bigger price tag. Reuters

🤖 OpenAI: $122B, a Media Company, and Your Dashboard

Three moves in one week. OpenAI closed a $122B round at an $852B post-money valuation, anchored by SoftBank, Amazon, NVIDIA, and Microsoft, now generating $2B in monthly revenue with 900M weekly active users and 50M paying subscribers. The company also acquired TBPN (big fans), the daily live Silicon Valley tech show hosted by Jordi Hays and John Coogan, with editorial independence preserved as part of the deal. And ChatGPT is now live on CarPlay for hands-free voice conversations via iOS 26.4. OpenAI | OpenAI | MacRumors

🧠 Anthropic: Paid Subscriptions More Than Doubled

Anthropic's paid consumer subscriptions have more than doubled in 2026, with new and returning subscribers hitting record numbers through March. Claude Code is a major driver, along with the Computer Use feature that lets Claude take over your desktop and complete tasks on its own. Enterprise still makes up the majority of the business, but the consumer story is no longer an afterthought. TechCrunch

🚢 Saronic: $1.75B Series D at a $9.25B Valuation

Saronic more than doubled its valuation from $4B to $9.25B in a single round, closing $1.75B led by Kleiner Perkins with Advent International, Bessemer, and DFJ Growth joining. Capital goes toward Port Alpha, a next-generation shipyard, plus expansion in Louisiana and Texas. The company now has 1,300 employees, a $392M Navy production contract, and its 180-foot autonomous ship Marauder already in the water. We are pumped to be a part of this raise with many of you. Saronic Technologies

🎲 Kalshi: Margin Trading Is Coming for Institutions

Kalshi secured a futures commission merchant license through its affiliate Kinetic Markets, clearing the first regulatory hurdle for margin trading. Full CFTC approval is still pending, but hedge fund brokers are already setting up client access. Weekly notional volume hit a record $3B this month, and CEO Tarek Mansour says the product is coming soon. Yahoo Finance

🔍 Perplexity: Your Tax Return Has a Bug

Perplexity launched Computer for Taxes, an AI agent that drafts U.S. federal returns on official IRS forms, reviews professionally prepared returns for errors, and builds custom tools for complex tax situations. In its own testing, it found an attorney-prepared return with deductions under the 2025 No Tax on Overtime provision understated by 67%, leaving thousands of dollars unclaimed. The product runs on loadable tax modules built on the Agent Skills protocol, with knowledge current through the latest OBBBA budget legislation. Available now. Perplexity

👀 Watch List

🤖 Physical Intelligence: Already Raising Again

PI is in talks to raise $1B at $11B, which would double its valuation in four months. Founders Fund leads, with Lightspeed, Thrive, and Lux returning. No commercialization timeline. Investors are not asking for one. TechCrunch

⚛️ Valar Atomics: $450M at a $2B Valuation

Backed by Palmer Luckey and Palantir's Shyam Sankar, Valar Atomics raised $450M at a $2B valuation to build advanced nuclear reactors for data centers and AI infrastructure. The California startup is developing clusters of small reactors it calls "gigasites," targeting power-hungry tech companies that need reliable, carbon-free energy at scale. Pulse2

💬 Prompt

What can I help you with?

Give me the 10 most contrarian beliefs held by the most successful people in [industry]. Not the things they say on panels. The things they actually believe that most people in the room would push back on.

📚 Content

📧 Finally, a Second Chance at Your Email Address

If you named your first email address after your favorite wrestler, a number that meant nothing, or a nickname you deeply regret, Google is finally letting you fix it.

Gmail users in the US can now change their email address without losing a single email, contact, or file. Same inbox. New name. No migration. No starting over. Just the address you should have had when you were old enough to know better.

Most of us created our first Gmail at age 12 and have been quietly hoping nobody noticed ever since. xXdragonslayer2004Xx has had a long run. Its time is up.

⚡ Jeff Bezos on Why Slow Is the Real Risk

Most people think the goal is to avoid making the wrong call. Bezos disagrees. A bad decision you can recover from. A slow one costs you the window entirely.

🤖 Build Your First AI Agent Today

No CS degree required. This is the clearest end-to-end guide we have seen for building a working AI agent from scratch, written by someone who figured it out themselves. Read it once and you will have something running by tonight.

🤝 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."