Latest Deep Dives

Deep Dive: Is the AI Buildout Creating a Private Credit Bubble?

Oct 9, 2026

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3 min read

Deep Dive: Is the AI Buildout Creating a Private Credit Bubble?

How private credit works, how it grew, and what the AI buildout changes.

Oct 2, 2026

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3 min read

What AI spend does to headcount

What 6 datasets say about AI and jobs.

Deep Dive: Why AI is booming, but productivity isn't

Sep 25, 2026

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3 min read

Deep Dive: Why AI is booming, but productivity isn't

We can see AI ROI everywhere except the productivity numbers. Why?

Sep 18, 2026

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2 min read

Deep Dive: The Open vs. Closed AI Race

We examine how open and closed model makers compete, the strategies behind each approach, and where the profits accrue.

Anthropic Just Committed $80B in Five Days. Here Is Who It Is Renting From.

Sep 8, 2026

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3 min read

Anthropic Just Committed $80B in Five Days. Here Is Who It Is Renting From.

AI’s appetite for specialized chips, power, and speed created an opening for a new kind of cloud. Learn with me below...

Spotlight

Oct 9, 2026

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3 min read

Deep Dive: Is the AI Buildout Creating a Private Credit Bubble?

How private credit works, how it grew, and what the AI buildout changes.

Deep Dive: Where Value Accrues in the AI Stack

May 1, 2026

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2 min read

Deep Dive: Where Value Accrues in the AI Stack

How should we think about AI in 2026? The stack we drew has six layers, from the bottom up: infrastructure, chips, data, models, execution, and application. Each layer has its own fulcrum...

Jun 11, 2026

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3 min read

Deep Dive: SpaceX

SpaceX lowered the cost of reaching orbit by 20x, then used that advantage to build Starlink. The next question is whether the same route can unlock something even larger: broadband, AI compute, & ...

Deep Dive: Why Are Billions Going Into Critical Minerals?

Apr 15, 2026

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2 min read

Deep Dive: Why Are Billions Going Into Critical Minerals?

We are still completely underestimating how short we are in terms of the global demand and supply dynamics of a handful of critical minerals that we need...

Apr 22, 2026

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24 min read

2025 Annual Letter

2025 was, in some ways, a historic year for Social Capital. Numerically, we did well. Our portfolio took an important inflection upwards when NVIDIA licensed Groq for $20B. However it felt...