Defensibility: Applications

Part 7: Where bucks are born

Dec 12 • 

Kevin Mahaffey

November 2024

Defensibility: Power within the AI stack

Part 6: Hardware, hosting, models, and infrastructure

Nov 26 • 

Kevin Mahaffey

Defensibility: Multi-wave markets

Part 5: When multiple stacks become viable in rapid succession, companies must “AND” or “OR”.

Nov 19 • 

Kevin Mahaffey

Defensibility: Revolutions

Part 4: Disruption occurs when “critical" technology makes a new stack “viable”.

Nov 12 • 

Kevin Mahaffey

Defensibility: Power

Part 3: "Execution power” is becoming more important than classical “structural power”

Nov 4 • 

Kevin Mahaffey

October 2024

Defensibility: Stacks

Part 2: Technology markets are organized around “stacks”

Oct 30 • 

Kevin Mahaffey

Defensibility: Where will value accrue in AI?

Introduction: Why this time is different.

Oct 24 • 

Kevin Mahaffey

February 2024

Startup Risk

Underwriting upside

Feb 28 • 

Kevin Mahaffey

January 2023

Morality in Markets, Efficient Growth, and AI

Q1 2023 Letter

Jan 30, 2023 • 

Kevin Mahaffey

August 2022

Birth and Death

Q3 2022 Letter

Aug 9, 2022 • 

Kevin Mahaffey

January 2022

Accelerate or Brake?

Q1 2022 Letter

Jan 24, 2022 • 

Kevin Mahaffey