Delphi Digital

José × Ian Rountree

Cantos’ edge is deliberate smallness: Fund IV reached $70M, supporting $1.5–4M checks before websites and same-day SAFE execution.Ian favors hard tech, vertical integration and manufacturing scale, with Neros at 1,000 drones weekly and targeting a million annually.The opportunity is cost advantage and defense demand; China’s control of motors, actuators and rare-earth inputs remains a physical-AI risk.

Tommy × AccelXR

Chinese labs are stabilizing multi-trillion-parameter MoE training and open-sourcing recipes that spread GRPO/RLVR variants within months.Open-weight price wars could make tokens an electricity derivative as China adds capacity 6x faster and co-designs weaker chips for cheaper serving.A 2028 Ascend model could be a catalyst, while possible export restrictions preserve bridge-demolition risk.

José × Michael Dempsey

Venture momentum is uniquely fragile: without scaled liquidity, dilution and preferred stacks can turn a softening bid into a 100% drawdown rather than 10–20%.Compound’s seed data finds that every valuation bucket above the bottom quartile produces similar top-decile outcomes, while Dempsey sees a 2028–2030 AI window and must rebuild the firm’s edge through higher-order analysis.

Steve McLaughlin

Fintech remains a single-digit percentage of financial services, growing 20-30% versus banks’ 3-5%, as Fiserv, FIS, and PayPal face AI-native challengers.FT Partners’ Lynk sale—$550M versus $150M bids after only 15% growth—and its $50M Revolut bet illustrate how diligence, conviction capital, and incentives can capture value, while no-moat AI applications remain exposed to competition.

José × Andrew Kang

Humanoid robotics may be approaching the pre-ChatGPT phase of AI, with $50,000 robots requiring only 20,000 units for $1B revenue and a projected tens-of-billions industry within two to four years.Robo Strategy (NASDAQ: BOT) seeks to challenge SoftBank through public markets, favoring vertically integrated players with embodiment-specific data; US restrictions on Chinese robots could help, while robotics data businesses face a two-to-five-year durability test.

José × Jordan Nel

Jordan Nel argues venture’s bottom-up opportunity can survive weak venture beta because outlier funds capture multiples from overlooked companies and signal larger funds before they can deploy $30–100M tickets.The investable edge lies in pre-consensus access and GP calibration, but frontier AI is a winner’s market, advantages decay, and first funds need a prior angel record.

Sandy Kory

Sandy Kory’s roughly half-net-worth Palantir bet around March 2009 rested on talent density and mission, despite top-tier VCs viewing the company as government consulting.His founder-first screen prioritizes pre-startup evidence and talent magnetism; BillionToOne’s roughly $400 million revenue run rate, roughly 100% growth and profitability provide evidence of traction, while funded rivals and hiring quality remain key tests.

Ceteris × Jason × Yan × Jose × Kevin

Crypto’s 2026 stock-pickers’ market favors structural flows, revenue, or strong narratives; Venice shows the fundamental case with roughly $60M ARR and weekly additions above $2.5M.Falling VVV issuance and a clean, self-funded structure could support at least $200M of additional ARR, but value transfer is not guaranteed as L1 token accrual breaks down and HYPE expands beyond crypto.