1/ USV recruited Spencer Yen about six months ago to help us with USV's "AI Transformation." I wrote this blog post when we launched the search that led us to Spencer.

In about six months, Spencer with the help of my colleagues Nick and Nikhil have completely rebuilt USV's operating system using Claude Code and Tasklet (a USV portfolio company). We have doubled the size of our team at USV without hiring another human.

Spencer published a blog post yesterday about all of this, why, what, and how. You can read it here.

2/ My partner Albert has been thinking deeply about what happens to society when we get Artificial General Intelligence (AGI). He wrote a book about all of this called World After Capital, which he started writing over a decade ago.

Today, he published an economic model that starts to lay out the various scenarios for what will happen to society and our economy in an AGI world.

Albert's model is exactly the kind of thing policy makers should be looking at when they start thinking about how to manage the societal transformation that is underway.

QSBS stands for Qualified Small Business Stock. At a high level, QSBS means founder's stock and stock bought early in a company's life.

Since 1993, the Federal Tax Code has had benefits for buying, owning, and selling QSBS. Currently, there is a full Federal Tax exclusion for the first $10mm of capital gains on QSBS.

Recently, the New York State Senate introduced a budget proposal in which NYS opts out of recognizing QSBS in its tax code. Historically, NYS has recognized the QSBS tax exclusion similarly to the Federal one.

There is a fair bit of misinformation and heat on Twitter about this and I thought I'd explain what is really going on.

Like the Federal government, there are three seats at the budget table in Albany. At this time, only the New York State Senate has taken this position on QSBS. The New York State Legislature, and most importantly, the Governor, have not taken a position on it yet.

So if you've read something on Twitter about QSBS and NYS, I recommend you relax and wait for all of this to pan out before making any rash decisions.

What you can do, if you are a NY founder or startup investor, is to sign onto

1/ USV recruited Spencer Yen about six months ago to help us with USV's "AI Transformation." I wrote this blog post when we launched the search that led us to Spencer.

In about six months, Spencer with the help of my colleagues Nick and Nikhil have completely rebuilt USV's operating system using Claude Code and Tasklet (a USV portfolio company). We have doubled the size of our team at USV without hiring another human.

Spencer published a blog post yesterday about all of this, why, what, and how. You can read it here.

2/ My partner Albert has been thinking deeply about what happens to society when we get Artificial General Intelligence (AGI). He wrote a book about all of this called World After Capital, which he started writing over a decade ago.

Today, he published an economic model that starts to lay out the various scenarios for what will happen to society and our economy in an AGI world.

Albert's model is exactly the kind of thing policy makers should be looking at when they start thinking about how to manage the societal transformation that is underway.

QSBS stands for Qualified Small Business Stock. At a high level, QSBS means founder's stock and stock bought early in a company's life.

Since 1993, the Federal Tax Code has had benefits for buying, owning, and selling QSBS. Currently, there is a full Federal Tax exclusion for the first $10mm of capital gains on QSBS.

Recently, the New York State Senate introduced a budget proposal in which NYS opts out of recognizing QSBS in its tax code. Historically, NYS has recognized the QSBS tax exclusion similarly to the Federal one.

There is a fair bit of misinformation and heat on Twitter about this and I thought I'd explain what is really going on.

Like the Federal government, there are three seats at the budget table in Albany. At this time, only the New York State Senate has taken this position on QSBS. The New York State Legislature, and most importantly, the Governor, have not taken a position on it yet.

So if you've read something on Twitter about QSBS and NYS, I recommend you relax and wait for all of this to pan out before making any rash decisions.

What you can do, if you are a NY founder or startup investor, is to sign onto