Across this series, we’ve talked about IP, cap tables, capital, factories, and exits. But the big picture is simple: A major portion of the global physical economy is being rebuilt. And it will not be rebuilt the old way.
Across this series, we’ve talked about IP, cap tables, capital, factories, and exits. But the big picture is simple: A major portion of the global physical economy is being rebuilt. And it will not be rebuilt the old way.
Where do all these structural choices show up? At exit. In earlier cycles, buyers focused mainly on growth, margins, and market share. Today, in deep-tech and infrastructure sectors, structural clarity is becoming just as important.
Where do all these structural choices show up? At exit. In earlier cycles, buyers focused mainly on growth, margins, and market share. Today, in deep-tech and infrastructure sectors, structural clarity is becoming just as important.
We’ve talked about IP and cap tables. But for many immigrant and repatriate founders, the most personal challenge is capital. In the past, founders could move savings or exit proceeds back to the U.S. with relatively little friction. Today, cross-border capital flows are facing more scrutiny.
We’ve talked about IP and cap tables. But for many immigrant and repatriate founders, the most personal challenge is capital. In the past, founders could move savings or exit proceeds back to the U.S. with relatively little friction. Today, cross-border capital flows are facing more scrutiny.
Why the “Black Box” Factory is the Biggest Risk in 2026 — and the Greatest Opportunity. In my 15+ years at TSVC, I’ve seen countless founders fall into the “Deep Globalization” trap. For decades, the playbook was simple: Design in the U.S., but keep the manufacturing in an offshore “black box” where labor is cheap and environmental regulations are lax. We treated the supply chain as a line item on a spreadsheet, optimizing for the lowest unit cost while ignoring the systemic risks we were building into our foundations.
Why the “Black Box” Factory is the Biggest Risk in 2026 — and the Greatest Opportunity. In my 15+ years at TSVC, I’ve seen countless founders fall into the “Deep Globalization” trap. For decades, the playbook was simple: Design in the U.S., but keep the manufacturing in an offshore “black box” where labor is cheap and environmental regulations are lax. We treated the supply chain as a line item on a spreadsheet, optimizing for the lowest unit cost while ignoring the systemic risks we were building into our foundations.
Why 25% is the most dangerous number in Deep Tech today. In my 15+ years at TSVC, I’ve reviewed thousands of cap tables. Historically, the math was simple: Who has the equity? Who has the voting rights? But in 2026, the OBBB Act and new FEOC (Foreign Entity of Concern) rules have turned the cap table into a national security document. For the next generation of deep-tech founders — particularly repatriates — there is an “Invisible Wall” you must understand: The 24.9% Guardrail.
Why 25% is the most dangerous number in Deep Tech today. In my 15+ years at TSVC, I’ve reviewed thousands of cap tables. Historically, the math was simple: Who has the equity? Who has the voting rights? But in 2026, the OBBB Act and new FEOC (Foreign Entity of Concern) rules have turned the cap table into a national security document. For the next generation of deep-tech founders — particularly repatriates — there is an “Invisible Wall” you must understand: The 24.9% Guardrail.
IP Licensing is the New Liability: Why Your “Clean Room” Needs a Full Buyout. In yesterday’s post, I talked about how the “Passport Test” is dead, replaced by a deep “Sovereignty Audit.” For many founders — especially repatriates — the biggest blind spot isn’t their passport; it’s the very foundation of their business: Intellectual Property. For years, it was common practice: you’d build innovative tech overseas, then bring it to the U.S. under a licensing agreement. It was efficient, it saved upfront costs, and it seemed like a smart way to scale globally. In 2026, this model is a ticking time bomb.
IP Licensing is the New Liability: Why Your “Clean Room” Needs a Full Buyout. In yesterday’s post, I talked about how the “Passport Test” is dead, replaced by a deep “Sovereignty Audit.” For many founders — especially repatriates — the biggest blind spot isn’t their passport; it’s the very foundation of their business: Intellectual Property. For years, it was common practice: you’d build innovative tech overseas, then bring it to the U.S. under a licensing agreement. It was efficient, it saved upfront costs, and it seemed like a smart way to scale globally. In 2026, this model is a ticking time bomb.
15 Years of Backing Immigrant Founders: Why the “Rules of the Game” Just Changed. When we started TSVC ( a.k.a. TEEC Angel Fund) in the heart of Silicon Valley in 2010, the mission was clear: back the most brilliant technical talent in the world, regardless of where they were born. At that time, our entrepreneurs were often immigrants — many from mainland China — who were building deep roots here. Some had US passports, some had Green Cards, and many were navigating the long immigration process.
15 Years of Backing Immigrant Founders: Why the “Rules of the Game” Just Changed. When we started TSVC ( a.k.a. TEEC Angel Fund) in the heart of Silicon Valley in 2010, the mission was clear: back the most brilliant technical talent in the world, regardless of where they were born. At that time, our entrepreneurs were often immigrants — many from mainland China — who were building deep roots here. Some had US passports, some had Green Cards, and many were navigating the long immigration process.
Tech is reinventing manufacturing—and manufacturing is reshaping globalization. From lights-out containerized factories to localization strategies beyond “going global,” a new industrial era is unfolding. This article explores how technology, innovation, and cultural integration are forging a new global manufacturing order.
Tech is reinventing manufacturing—and manufacturing is reshaping globalization. From lights-out containerized factories to localization strategies beyond “going global,” a new industrial era is unfolding. This article explores how technology, innovation, and cultural integration are forging a new global manufacturing order.
Ebots positions itself not as another incremental automation supplier but as a platform designed to make high-precision manufacturing economically viable in the US again.
Ebots positions itself not as another incremental automation supplier but as a platform designed to make high-precision manufacturing economically viable in the US again.
OpenAGI, a research lab committed to building an open ecosystem for computer-use agents, emerged from stealth today with the release of Lux, its most advanced foundation computer-use model to date. On the Online-Mind2Web benchmark, which covers more than 300 real-world web-based computer-use tasks,Lux achieved a score of 83.6, surpassing Google Gemini CUA (69.0), OpenAI Operator (61.3), and Anthropic Claude Sonnet 4 (61.0).
OpenAGI, a research lab committed to building an open ecosystem for computer-use agents, emerged from stealth today with the release of Lux, its most advanced foundation computer-use model to date. On the Online-Mind2Web benchmark, which covers more than 300 real-world web-based computer-use tasks,Lux achieved a score of 83.6, surpassing Google Gemini CUA (69.0), OpenAI Operator (61.3), and Anthropic Claude Sonnet 4 (61.0).
Dramatic improvement in search quality for both fast and agentic search
Dramatic improvement in search quality for both fast and agentic search
This paper proposes and examines a historical regularity: when technology eliminates a natural form of human activity, markets inevitably generate an “artificial compensatory industry” to meet the biological or psychological needs that persist.Based on this framework, the emergence of the modern fitness industry and the modern entertainment industry were not accidents or cultural trends, but structural outcomes of the Industrial Revolution and modern media revolutions.By comparing the historical transition from agricultural to modern societies—specifically the transformations from physical labor → fitness industry, and from ritual life → entertainment industry—this paper develops a Substitution–Compensation Industrial Model.Using this model, the paper argues that AI’s takeover of cognitive labor will cause humans to lose natural cognitive load and meaning-making processes. This will trigger a third substitution–compensation cycle: the rise of the Mind–Body–Spirit Industry, built around heart-mind labor, psychological resilience, emotional regulation, self-awareness, and meaning construction.
This paper proposes and examines a historical regularity: when technology eliminates a natural form of human activity, markets inevitably generate an “artificial compensatory industry” to meet the biological or psychological needs that persist.Based on this framework, the emergence of the modern fitness industry and the modern entertainment industry were not accidents or cultural trends, but structural outcomes of the Industrial Revolution and modern media revolutions.By comparing the historical transition from agricultural to modern societies—specifically the transformations from physical labor → fitness industry, and from ritual life → entertainment industry—this paper develops a Substitution–Compensation Industrial Model.Using this model, the paper argues that AI’s takeover of cognitive labor will cause humans to lose natural cognitive load and meaning-making processes. This will trigger a third substitution–compensation cycle: the rise of the Mind–Body–Spirit Industry, built around heart-mind labor, psychological resilience, emotional regulation, self-awareness, and meaning construction.
In 2025, we find ourselves at a defining moment for Chinese leadership on the global stage. A clearer and more nuanced picture of a new generation of Chinese global leaders is emerging. Whether leading multinational operations in China, taking Chinese brands overseas, or operating at the heart of global capital markets, globalization is the shared foundation of this group. Across technology, industry, institutions, and culture, they are actively shaping global systems and increasingly taking center stage in the world economy.
In 2025, we find ourselves at a defining moment for Chinese leadership on the global stage. A clearer and more nuanced picture of a new generation of Chinese global leaders is emerging. Whether leading multinational operations in China, taking Chinese brands overseas, or operating at the heart of global capital markets, globalization is the shared foundation of this group. Across technology, industry, institutions, and culture, they are actively shaping global systems and increasingly taking center stage in the world economy.
Lumotive's high-level elevator pitch basically goes something like this. The company creates programmable optoelectronic devices - and has come up with a way of manipulating light beams electronically. This is done using solid-state nanoscale structures that can be produced via cost-effective fabrication technologies, in order to make the resulting devices economically viable - thereby giving them a lot of appeal in contexts like robotics, road vehicles, consumer electronics, etc.
Lumotive's high-level elevator pitch basically goes something like this. The company creates programmable optoelectronic devices - and has come up with a way of manipulating light beams electronically. This is done using solid-state nanoscale structures that can be produced via cost-effective fabrication technologies, in order to make the resulting devices economically viable - thereby giving them a lot of appeal in contexts like robotics, road vehicles, consumer electronics, etc.
Jesus’s life was, in essence, a startup story —He defined a mission, built a team, inspired a community, faced rejection and betrayal, and ultimately left behind an organization that has lasted over two thousand years: the Church.
Jesus’s life was, in essence, a startup story —He defined a mission, built a team, inspired a community, faced rejection and betrayal, and ultimately left behind an organization that has lasted over two thousand years: the Church.
Menos AI has officially launched its institutional-grade AI platform, starting with Sonar—an AI-powered idea generation agent purpose-built for hedge funds and asset managers. Developed in collaboration with leading hedge fund partners, Sonar stands out through its proprietary Alpha Signal Extraction technology, which surfaces early, accurate, and high-quality investment insights. It’s designed with institutional-grade performance, security, and compliance in mind, and an upcoming Voice Scoring feature will further enhance its capabilities by identifying and tracking consistently valuable sources.
Menos AI has officially launched its institutional-grade AI platform, starting with Sonar—an AI-powered idea generation agent purpose-built for hedge funds and asset managers. Developed in collaboration with leading hedge fund partners, Sonar stands out through its proprietary Alpha Signal Extraction technology, which surfaces early, accurate, and high-quality investment insights. It’s designed with institutional-grade performance, security, and compliance in mind, and an upcoming Voice Scoring feature will further enhance its capabilities by identifying and tracking consistently valuable sources.
Our portfolio company Aizip has partnered with Silicon Labs to launch a cutting-edge glass break detection solution that redefines what’s possible in smart home protection. By combining Aizip’s ultra-efficient AI with Silicon Labs’ Series 2 SoCs, the system can detect glass breaking from farther distances, at lower noise thresholds, with fewer false positives—all while consuming significantly less power. This collaboration delivers a reliable, low-power, and cost-effective solution, showcasing how edge AI is making everyday devices smarter, safer, and more efficient.
Our portfolio company Aizip has partnered with Silicon Labs to launch a cutting-edge glass break detection solution that redefines what’s possible in smart home protection. By combining Aizip’s ultra-efficient AI with Silicon Labs’ Series 2 SoCs, the system can detect glass breaking from farther distances, at lower noise thresholds, with fewer false positives—all while consuming significantly less power. This collaboration delivers a reliable, low-power, and cost-effective solution, showcasing how edge AI is making everyday devices smarter, safer, and more efficient.
Zūm has once again earned a spot on the prestigious CNBC Disruptor 50 List—for the second year in a row and the third time overall. This well-deserved recognition highlights Zūm’s ongoing mission to reinvent school transportation through innovation, sustainability, and scale. By leveraging AI-powered route optimization, deploying a fully electric vehicle fleet, and reimagining logistics from the ground up, Zūm is making the daily ride to school safer, greener, and smarter for students, families, and school districts across the country. Their commitment to sustainability and efficiency is not just transformative—it’s disruptive, scalable, and built for the future. As they continue to grow their impact, Zūm is setting a new standard for what school transportation can—and should—be.
Zūm has once again earned a spot on the prestigious CNBC Disruptor 50 List—for the second year in a row and the third time overall. This well-deserved recognition highlights Zūm’s ongoing mission to reinvent school transportation through innovation, sustainability, and scale. By leveraging AI-powered route optimization, deploying a fully electric vehicle fleet, and reimagining logistics from the ground up, Zūm is making the daily ride to school safer, greener, and smarter for students, families, and school districts across the country. Their commitment to sustainability and efficiency is not just transformative—it’s disruptive, scalable, and built for the future. As they continue to grow their impact, Zūm is setting a new standard for what school transportation can—and should—be.
From lights-out factories to containerized production, from software-defined supply chains to cultural integration, a new industrial paradigm is taking shape. This blog explores how smart manufacturing is escaping the efficiency trap—and how companies must evolve from “going global” to truly “becoming local.”
From lights-out factories to containerized production, from software-defined supply chains to cultural integration, a new industrial paradigm is taking shape. This blog explores how smart manufacturing is escaping the efficiency trap—and how companies must evolve from “going global” to truly “becoming local.”
Multibeam Corporation has expanded its global footprint by opening a new sales office in Yokohama, Japan, to meet the increasing demand for its Multicolumn Electron-Beam Lithography (MEBL) systems. This strategic move, announced during the Photomask Japan symposium, aims to better serve the Japanese market and aligns with the industry’s push for faster chip design and manufacturing cycles. Multibeam’s MEBL technology offers significant productivity advantages, including over 100 times the throughput of conventional EBL systems, making it a compelling solution for advanced semiconductor applications.
Multibeam Corporation has expanded its global footprint by opening a new sales office in Yokohama, Japan, to meet the increasing demand for its Multicolumn Electron-Beam Lithography (MEBL) systems. This strategic move, announced during the Photomask Japan symposium, aims to better serve the Japanese market and aligns with the industry’s push for faster chip design and manufacturing cycles. Multibeam’s MEBL technology offers significant productivity advantages, including over 100 times the throughput of conventional EBL systems, making it a compelling solution for advanced semiconductor applications.
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