Venture Capital Concentration And Megafund Mechanics
Andreessen Horowitz raised $15B, accounting for over 20% of the total venture funds raised by firms in 2025.
Early reviews of Anthropic’s new knowledge-work workspace product are described as impressive but somewhat 'janky,' implying execution risk despite strong concept.
OpenAI is described as facing existential risk.
Dispatchable Power Supply Constraints And Thermal Capex Inflation
Global gas turbine production capacity is about ~60 GW per year and current orders imply demand exceeding that by roughly ~20–40 GW annually in the near term.
ERCOT and Texas transmission service providers have sharply divergent 2030 electricity-demand forecasts: about 1,000 TWh versus about 1,600 TWh.
Globally, electricity spending has been remarkably stable at roughly 3–4% of GDP for decades.