Alumni Ventures · 2 November 2026 · Investment Thesis

When Intelligence Is Free, What Gets Expensive?

Alumni Ventures

As AI capabilities approach AGI-level performance and costs plummet, cognitive labor and generic knowledge work become cheap; the author argues physical assets, energy, regulatory approval, and proprietary data on the physical world become the scarce, valuable bottlenecks—and outlines the Deep Tech Fund's investment thesis accordingly.

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Topics: AI (Horizontal) · Energy & Climate · Healthcare

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