Uploaded May 2026 | Updated September 2026, 13 hours ago

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We are no longer in a world of light-touch SaaS and low regulation. Capital flows are politicized. Supply chains are weaponized. AI is compressing time. Michael maps the new investment environment — why venture capital is now deeply entangled with geopolitics, and what that means for how Aleph picks companies.
Read the full annual letter: bit.ly/4uqAkyt

#Investing #VentureCapital #Geopolitics #AI #AlephVC #Startups #MarketTrends #Technology #MacroInvesting #Innovation