On My Mind

A Thousand Ways

On the story we keep telling for our entire life

Jan 1 • Michael Dempsey

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December 2025

The Privilege of Belief

Some thoughts on firm building and believing in people and ideas

Dec 17, 2025 • Michael Dempsey

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November 2025

The Luxury of Knowing

Reflections on career clarity and the luck of finding it

Nov 12, 2025 • Michael Dempsey

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October 2025

Sequencing vs. Equal Odds

In building applied research companies, there are two distinct R&D paths that lead to success, and a middle ground that leads to structural poison.

Oct 3, 2025 • Michael Dempsey

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September 2025

Narrative Cycle Entry

How companies should position and build their narratives from launch through the various stages of technology hype cycles

Sep 23, 2025 • Michael Dempsey

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August 2025

Bitter Lessons From HALO'd Companies

At moments of early fervor, startups emerge who feel they must scale aggressively in order to catch up to early movers. HALO'd companies are prime…

Aug 26, 2025 • Michael Dempsey

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July 2025

Timing IPO Windows

Why the small number of IPOs in the past two years suggests tech companies are moving far too slow in identifying IPO windows and are repeating mistakes…

Jul 30, 2025 • Michael Dempsey

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June 2025

Risk Tokens: Economic Security in AI Safety

Risk Tokens aim to show that when you align economic incentives with desired behaviors, security becomes an emergent property rather than an imposed…

Jun 2, 2025 • Michael Dempsey

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May 2025

Narc Claude & The Mid-Stage of the AI Lab Cycle

A few quick thoughts on Claude Opus 4, AI Lab marketing strategies, and what they signal about the current stage of AI development cycle

May 23, 2025 • Michael Dempsey

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The First 40 Months

Why founders should precisely understand what milestones are needed through their first two rounds of fundraising instead of sprinting from round to…

May 19, 2025 • Michael Dempsey

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February 2025

February 2025 Crypto Notes

Power Laws & Compounders in Crypto, Retail-Led Narratives, & a note on macro

Feb 28, 2025 • Michael Dempsey

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The Evolution of Perception Markets: Schelling Point Companies, Reality Ratios, & Narrative Receptacles

As narratives increase in value, a new generation of companies build on the power of perception, while private & public markets race to fill every…

Feb 11, 2025 • Michael Dempsey

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