With all the AI money sloshing around Skin in the Game isn’t enough anymore. I’m looking for Heart in the Game too. (opens in new tab)

There’s an old saying that ‘illiquidity in startups’ is a feature, not a bug, because it keeps everyone [founders, team, investors] focused on the longterm outcome. They have a shared incentive and ‘skin in the game’ – whether it be sweat equity or capital equity. In the year of our lord 2026 this idea seems […]