Thinking at the frontier of finance and technology.
Perspectives on the financial questions facing frontier companies — capital deployment, unit economics, business model, value architecture, and the financial intelligence required to shape the future.
Essays
Rethinking Unit Economics for the Physical AI Era
Physical AI doesn't introduce a new kind of unit economics so much as it inherits every kind that came before — and the businesses that win will be the ones that address all of them at once.
AI Can Build the Model. It Can't Broker the Trust Between Capital and Organization. That's Strategic Finance's Job.
AI has commoditized language, but not the financial intelligence at the core of strategic finance's value proposition. Judgment, relationships, accountability — these remain irreducibly human.
Robots. When Are They Going to Make My Breakfast?
The humanoid industry spends capital where physics makes data cheap — locomotion and demos — rather than where the economic value actually lives: manipulation and hand dexterity.