World News
Why generalist investors will always win on August 18, 2023 at 12:00 pm
Year after year, vertical-specific investors become increasingly central to the venture world.
Andreessen Horowitz’s American Dynamism practice has carved out a remarkable brand in the “world of atoms.” Paradigm first made a name for itself with bold crypto bets. Numerous funds are currently spinning up to take advantage of the AI gold rush specifically.
It’s understandable: As the venture world becomes increasingly competitive and rich, investors need to build their teams (and brands) to be as targeted and high-impact for entrepreneurs as possible. Choosing a vertical makes commanding capital from LPs more straightforward as well.
And this strategy has worked. The investors mentioned above are often at the top of founders’ fundraising lists. It’s no surprise that other firms feel increasingly pressured to show off their expertise in various spaces by publishing market maps and investment theses.
Generalist investing has rightfully been (and will always be) the primary mode of VC.
Is this trend the future? Will every possible startup soon have an “expert” VC to seek out in their space? I think not; generalist investing has rightfully been (and will always be) the primary mode of VC.
Let’s get a few assumptions out of the way. “Generalist” investing does not mean lack of technical knowledge. It does not mean a lack of preference of some verticals over others. And it certainly does not mean unsophistication in their network.
The eternal relevance of generalism in venture comes down to two simple and easy-to-prove facts: (1) Revolutionary tech companies are thematically unpredictable, and (2) transcendent founder talent is still needed even in the most fruitful spaces.
Looking empirically at some of the greatest investments of all time, it’s difficult to see how concentrating on one theme would have converted to a winning deal. Google was following several preexisting search engines. Facebook had already lost to MySpace as far as anyone could tell. UberCab was a small market, and ride-share wasn’t envisioned from the start. Clearly, the historical trends around consumer internet, social media, and the gig economy were unseeable at the time, even if hindsight feels obvious.
I don’t buy that any forward-looking trend today is more than directionally right. The green tech theses of the 2000s yielded almost nothing at all. The “sharing economy” themes of the 2010s never quite replicated after Uber/Lyft/Airbnb created the concept. This sets a high burden of proof for any conception of vertical-specific investing in the 2020s.
Even today, it’s unclear which vertical-specific firms have capitalized on the emerging winners in the AI space — has OpenAI or Scale led to a firm-returning (not just fund-returning) outcome for an AI-focused investor as much as it has for generalist investors?
But of course it’s easy to paint an extreme picture. In reality there are plenty of excellent firms that nail their specialized vertical. In any case, the problem of “founder picking” persists. And it’s quite the challenging problem.
While some spaces like healthcare or defense may have returns 2x or even 10x greater than other verticals, the best startup within those spaces could have returns 100x greater than its more typical counterparts. The talent of founders and outcomes of their startups have unimaginably more variance than any other dimension. Thus emerges the paradox: The specialist investor must have the same eagle eye for outliers as the generalist investor, but with narrower aperture.
And if, as a firm, you are able to cultivate that eye for outlier founders, why not apply that rare skill across the entire opportunity set? The next Google might be somewhere you don’t expect.
Now, readers may wonder about adding value to founders and winning deals while lacking any sort of specific expertise. How can a generalist compete with a specialist when it comes to customer introductions, or tactical advice?
My answer is simple: We can’t, but we don’t need to. The specific product and marketing challenges faced by entrepreneurs tend to be far too specific for an outsider to properly help. Introductions in “supply chain” are insufficient compared to introductions to “decision makers at roofing supply distributors with $100 million to $500 million revenue who use Epicor as their system of record” as one portfolio company recently requested. Which VC has a roster like that lined up and ready to go?
Ultimately my job as a VC is selling a few simple products: cash, trusted reputation, and access to as much downstream capital as possible. And I can do that just as well as anyone who invests in only AI.
To be clear, the venture world is evolving fast, and specialist investors play a valuable role. But I urge my generalist friends to be proud. With a radical focus on outliers wherever they may be, history is on our side.
How can a generalist compete with a specialist when it comes to customer introductions, or tactical advice? We can’t, but we don’t need to.
Politics
Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

What Happened at the United Nations
On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?
The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.
International Reaction and Significance
The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

Why Is This News Important?
The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.
This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.
News
Is a Nuclear-Powered Alien Spacecraft Flying Toward Earth?

A mysterious interstellar object speeding through our solar system has reignited debates about extraterrestrial technology — and whether Earth might currently be under quiet observation.
The object, known as 3I/ATLAS, is only the third confirmed interstellar visitor ever detected. Unlike ordinary comets, however, this cosmic traveler has baffled astronomers with its unusual brightness, strange trajectory, and lack of a visible cometary tail. While most scientists cautiously describe it as a natural body, one leading astrophysicist believes something much stranger is at play.

Harvard Scientist’s Bold Claim
Professor Avi Loeb of Harvard University, head of the Galileo Project, has suggested that 3I/ATLAS may in fact be a nuclear-powered alien spacecraft designed to test how humanity would respond to an interstellar visitor. He argues that its flight path is improbably precise, bringing it close to Mars, Venus, and Earth — a pattern highly unlikely to occur by chance.
Loeb also points out that telescope images show a glow inconsistent with ordinary dust behavior. Instead of trailing behind like a comet, the halo-like light appears to extend in unusual ways, sparking debate about whether the object could be emitting energy of its own.
Headed Toward Earth’s Neighborhood
3I/ATLAS is expected to make its closest approach in late 2025, passing near Mars before swinging by the inner solar system. Although Earth itself will be on the opposite side of the Sun when it comes closest, the alignment will still enable space-based observatories to capture sharper data.

Loeb has called on NASA and other agencies to use spacecraft already stationed near Mars or Jupiter — including the Juno mission — to take high-resolution photographs. He believes such efforts could reveal whether the interstellar object is truly natural, or the first technological probe humanity has ever encountered.
Should We Be Worried?
While most astronomers argue caution before jumping to alien conclusions, Loeb insists that scientific openness is key. “If it’s just a comet, we learn something new,” he said. “But if it’s a spacecraft, it would be the most important discovery in human history.”
For now, 3I/ATLAS remains a mysterious speck on astronomers’ charts, drifting closer with each passing day. Whether it proves to be a frozen remnant of another star system or something far more advanced, the interstellar visitor has already succeeded in one mission: reminding us how vast and unpredictable the universe really is.
News
AI Automation Could Cause Up to 20% Unemployment—A Workforce on the Brink

Stark Warning from Anthropic CEO Highlights Rapid Job Displacement Risk
The looming threat of widespread unemployment due to AI automation has sparked intense debate among experts, business leaders, and policymakers. Dario Amodei, CEO of Anthropic—the company behind the influential AI language model Claude—issued a stark warning that has sent shockwaves through corporate America:

“Up to half of all entry-level white collar jobs could disappear within the next one to five years, potentially pushing unemployment rates as high as 20% during this period.”
This dramatic forecast paints a picture of a rapid and unsettling transformation in the workforce, driven by AI technologies that can perform complex cognitive tasks.
Balancing Predictions: Worst-Case Scenarios vs. Moderate Impact
However, this forecast represents one end of a spectrum of expert predictions. While Amodei’s warning highlights the worst-case scenario driven by the swift adoption of AI agents capable of coding, analyzing data, drafting legal documents, and managing workflows around the clock, other analyses suggest a more moderate impact. For example, Goldman Sachs estimates that AI could temporarily displace about 6-7% of U.S. jobs, with unemployment rising by approximately half a percentage point during the adjustment period. Their research anticipates a more gradual transition with a mixture of job disruption and creation.

The Unprecedented Speed and Scope of AI-Driven Job Disruption
The truth likely lies somewhere in between. AI is advancing at unprecedented speed, and the scope of jobs affected spans far beyond blue-collar roles to white-collar positions that required college degrees and years of training. Entry-level roles such as customer service representatives, data entry clerks, junior analysts, and administrative assistants face the greatest near-term risk. Mid-level roles in accounting, marketing, law, and engineering could soon follow, with companies already laying off workers citing AI-driven efficiencies.
Preparing for an AI-Transformed Workforce: Adaptation Is Essential
Ultimately, the AI-driven job transformation is no longer a distant prospect but unfolding now. Whether unemployment spikes to 20% or stabilizes at lower levels depends on many factors, including business adoption rates, government policies, and the ability of workers to reskill. What is certain is that the workforce of tomorrow will look very different from today—and the time to prepare is right now.
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