Welcome to our new subscribers! SandHill.io aggregates and shares the latest investment themes, market insights, and best practices for operating and investing from 650+ VCs, analysts, and operators.

This newsletter curates a selection of posts featured on the website each week.

Investment Themes, Theses, & Outlooks

• SaaS 4.0: Say Hello to The Era of Cognition (Alex Kayyal, Partner @ Lightspeed)

• Equal’s POV on Investing in Supply Chain & Logistics (Chelsea Zhang, VP @ Equal)

• The Time is Now for Transformational InsurTech Businesses (Steve McGovern, Principal @ Crystal VP)

• A Wave of Personal Agents is Coming (Maria Gilfoyle & Scott Jacobson, Madrona)

Industry Developments & Analyses

• The New Language Model Stack (Michelle Fradin & Lauren Reeder, Sequoia)

• Does an AI Premium Exist in the Fundraising Market? (Tomasz Tunguz, MD @ Theory)

• A New Era in Technology: Applications of AI, VR, and AR (Rex Woodbury, Partner @ Index)

• FedNow instant payments are about to unlock fintech investment opportunities (TX Zhuo, GP @ Fika Ventures)

• The Evolution of Sustainable Materials: Six Trends to Watch (Sophie Bakalar & Sarah Rodriguez, Collaborative Fund)

• Compound Startups (Nandu Anilal, VC @ Canaan)

Guides, Case Studies, and Best Practices for Operating

• Executive Hiring | The Key to Scaling in the Growth Stages (A16Z Team)

• What is the most critical talent to master for great technical founders? (Massimo Sgrelli, GP @ Lombardstreet Ventures)

• How startups can raise money in emerging markets today (Robin Butler, Partner @ Sturgeon)

• PLG and Sales in 2023: How to Combine Them for Efficient Revenue Growth (Kyle Poyar, Partner @ OpenView)

• Measuring Marketing Performance (Jax Vullinghs, VC @ Airtree)

• Growth-stage startup valuations: Guiding principles for comps selection (Janelle Teng, VC @ Bessemer)

Additional Reads

• Asset-Based Lending vs. Venture Debt, Demystified (Upper90 Team)

• Will AI Kill Vertical SaaS? (Rob May, Partner @ AI Operator's Fund)

• Death to Revenue Multiples: Long Live the DCF! (Rick Zullo, GP @ Equal Ventures)

• Tutors for Everyone (Albert Wenger, GP @ USV)

• The Differences Between a $50M and $1B VC Fund (Trace Cohen, Partner @ NYVP)

• Can you Scale a Venture Capital Fund? (Abhishek Maran, VC @ Rampersand)

• Overhyped AI, macro challenges, and more from Eniac’s Q2 Seed Sentiment Survey (Dan Jaeck and Anthony Ha, Eniac Ventures)

• Savoring the AI Meal Without Being Eaten: A Rejoinder to Marc Andreessen (Christoph Janz, GP @ Point Nine)

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