Startups, venture, etc

Hi, I'm Santosh.

People call me Tosh.
Now

VC concentration is at astounding levels: 5 funds raised nearly 75% of VC dollars in Q1 '26 and those funds anticipate some mega liquidity events during the balance of the year. Is this time different? If so, what does that mean for small pre-seed funds?

Apr 2026
Writing
Monday Meditations
Portfolio Envy is a Confidence Tax
Portfolio envy doesn't just sting. It pulls GPs toward consensus and away from conviction. Someone else's markups say nothing about your portfolio or your ability as a picker.
 VC
Venture is Optimizing for the Wrong Thing
Venture capital’s incentive structure has quietly shifted from building durable businesses to generating markups fast enough to raise the next fund.
 Startups
The Operator Who Builds
The best non-technical operators were always high agency. What's changing is the ones who stand out now have something on top of it — curiosity and enough technical comfort to find and build their own leverage.
 Monday Meditations
Every Good Story Has a Villain
Every good story has a villain. Most startups do too. Sometimes it’s a competitor. Sometimes it’s an old dismissal. Sometimes it’s a past version of yourself. That quiet “I’ll show you” energy, when disciplined, can power the early work.
 Monday Meditations
The Aura We Exude
What do you want it to feel like to be around you? On the energy we project, the aura we exude, and how the world we experience is shaped by what we bring to it.
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