The n:n Company
Why AI-native software companies may amortize CAC across products rather than R&D across customers.
NAP Log
Our views on venture investing, emerging sectors, and news from our portfolio. And anything else that crosses our minds.
Live Last read · last published · next check
Latest posts
NAP Decode: Why we backed Zelara
Customer communication in the AI era
A basketball general manager is a VC without the right to write off bad bets.
Big Bets on Cheap Chairs: Marko Pesic did 200+ player deals across 14 years at FC Bayern Basketball. We went in looking for a tidy parallel to early-stage investing.
AI is killing friction
Hard is more buildable than ever. It is also the thing left to build.
Big Bets on Cheap Chairs
The podcast where we talk to dealmakers from art, sport, music, and science who find outliers early. How does it compare to early stage investing?
How we feel about software right now
It’s a confusing world out there (and “out there” being in our little software/AI bubble, never mind the real world).
Agents break the UI
Software was designed for human hands and human eyes. What happens when neither is operating it?
You can't automate a factory with a guesser
Why the scarcest thing in AI isn't intelligence
Fundraising is broken. The user is gone.
An internal note to our portfolio on why 2026 won’t reward “good companies” – only post-labor ones.
Introducing NAP 👾
Real partners. For expert founders.