How to Own the Future Without Picking the Winner

Three funds just put private robotics, frontier AI labs and the power grid behind a ticker. What each one owns, what makes it interesting, and what it costs. The setup For a decade, the best part of

Three funds just put private robotics, frontier AI labs and the power grid behind a ticker. What each one owns, what makes it interesting, and what it costs. The setup For a decade, the best part of the innovation curve sat behind a velvet rope. SpaceX, OpenAI, Anthropic and Figure were all private. If you weren’t accredited, you waited for the IPO. That rope is fraying: @SpaceX listed in June with a $75B raise, the biggest IPO on record @Anthropic filed confidentially on June 1 and could trade