Dan Ashton

Are we seeing a fleeting Silicon Valley: It’s not just about the taxes. For years, the narrative of tech leaders "fleeing California" was blamed on a single number: the 15% (now 5%) tax rate. But the real conversation in the Valley right now is much more human—and much more complex. According to a recent deep dive by TechCrunch, the "Great Dispersal" of 2026 is being driven by three things that money can't fix: 📍 The Rise of the "Micro-Hub": Founders aren't just moving to Austin or Miami anymore. They are seeking "identity-rich" communities in places like Bozeman, MT, and Bentonville, AR, where high-speed satellite internet has made "the middle of nowhere" the new "center of everywhere." The "Quiet Life" Pivot: After a decade of "hustle culture," there is a massive shift toward lifestyle stability. The move isn't just a tax play; it’s a search for better public safety, shorter commutes, and a tangible connection to local community—things that have become increasingly scarce in the Bay Area. The End of Geographic Density: With the 2026 breakthroughs in AI-driven remote collaboration, the "collision of ideas" no longer requires being in a Palo Alto coffee shop. Innovation is becoming decentralized, and for many, California is now a place you visit for board meetings, not where you raise a family. The Takeaway: Silicon Valley isn't dying—it's evolving into a state of mind rather than a zip code. The tech industry is finally learning that you can build the future without losing your sense of place. https://lnkd.in/gtNN7Bn5 #SiliconValley #TechTrends #FutureOfWork #DigitalNomad #CaliforniaExodus #Innovation

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Although Oracle has a (19%) smaller EV than Tesla, much less the combined EV of Tesla+SpaceX+Muskiverse, Ellison has surpassed Elon in wealth. How? Simply by owning a larger percentage of Oracle than Elon owns of his companies (42%!). How again? Through a multi-decade company share buyback program that began in 1992... Quick research suggests they've shrunk total share count by as much as 5% a year (although that sounds high). As a capital allocation strategy, Oracle is profitable & generating more capital than Oracle can re-invest back organically into its business (in growth & R&D) or inorganically to acquire or invest in or incubate new companies. And buybacks are superior to dividends in terms of tax treatment & alignment of incentives. By consolidating the shareholder base, Ellison has also improved his control position and is thus able to direct corporate strategy more assertively: for example, his big bet on Oracle Health as the future of the business! Kudos to Ellison & a great case study. To learn how to think like this more, I encourage everyone to read Outsiders by Will Thorndike (disclosure: Thorndike is an investor in both Invisible Technologies & Infinity Constellation). It's a very long game. By having a longer time horizon & asymmetric information (even though all financials are public, he can walk the halls!) & thus more insight into the long-term strategy & confidence on long-term outcomes... The Outsider generates superior long-term shareholder IRR. (NB. - Ellison was born in 1944!) https://lnkd.in/e9NsffcG

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Sam Altman just obliterated Meta’s AI strategy 👇 “Meta’s offering $100M signing bonuses to poach OpenAI talent. None of our best people have taken it.” “Meta isn’t great at innovation.” “We understand things they don’t about how to win.” “People think OpenAI has a better shot at AGI, and could be more valuable.” Brutal. Watch this.

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Everyone is talking about AI. Far fewer people are talking about just how large the vertical AI opportunity really is. Vertical AI isn’t only competing for IT spend. In many cases, it’s going after labor budgets — especially in industries like legal, healthcare, and professional services. Those sectors alone represent ~13% of U.S. GDP, compared to about 1% for software. That distinction matters. It’s why firms like Bessemer have pointed out that vertical AI has the potential to be meaningfully larger than legacy vertical SaaS ever was — with multiple companies already on paths to $100M+ ARR and likely IPOs over the next few years. If you’re building in a workflow that was once considered "too nuanced to automate," you’re not chasing a feature trend. You’re tapping into a much larger shift in how work actually gets done. I’m curious how others are thinking about this shift as they build or invest..

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