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30

Listen to the Market

Listen to the Market Kalshi’s new American Power Index takes the question every cable segment fights over (who is

6/1/2026

All Systems Nominal – Nominal Spotlight

All Systems Nominal By Harry Spitzer Published May 21, 2026 How a former Navy officer’s will to serve is shaping the fut

5/21/2026

AI Ascent 2026

AI Ascent 2026 AI Ascent IV was our biggest and best year yet. By Team Sequoia Published May 8, 2026 On April 20, we hos

5/8/2026

Standard Intelligence: Training General Intelligence in Pixel Space

Standard Intelligence: Training General Intelligence in Pixel Space By Sonya Huang Published April 30, 2026 The future o

4/30/2026

Partnering with Ineffable Intelligence: A Superlearner for the Era of Experience

Partnering with Ineffable Intelligence: A Superlearner for the Era of Experience By Sonya Huang and Alfred Lin Published

4/27/2026

Partnering with Auctor

Partnering with Auctor: AI Autopilot for Software Implementation By Julien Bek Published April 15, 2026 Matt, Will and S

4/15/2026

Sequoia Capital shares founder’s 1977 memo for investing in Apple — initial $600,000 investment is worth $26.4 billion today, firm said it was ‘tough to do this deal’ - Tom's Hardware

4/5/2026

Legendary VC firm Sequoia just released the memo for its Apple bet in 1977. Read it here. - Business Insider

4/2/2026

Sequoia Says AI Will Kill Software Tools By Becoming The Work - Forbes

4/1/2026

Sequoia Capital names veteran Doug Leone as chairman - Reuters

4/1/2026

Sequoia Capital Names Former Leader Leone as Chairman - The Information

3/31/2026

Billionaire VC Doug Leone Back Investing At Sequoia In Chairman Role - Forbes

3/31/2026

From Hierarchy to Intelligence

From Hierarchy to Intelligence By Jack Dorsey and Roelof Botha Published March 31, 2026 At Sequoia, we see that speed is

3/31/2026

From Hierarchy to Intelligence - Sequoia Capital

3/31/2026

Partnering with Edra: Context for Agents at Scale

Partnering with Edra: Context for Agents at Scale Eugen, Yannis and their team are turning enterprise knowledge into dyn

3/18/2026

Partnering with Edra: Context for Agents at Scale - Sequoia Capital

3/18/2026

Partnering with Scanner: Every Log Tells a Story—If You Can Find It Fast Enough

Partnering with Scanner: Every Log Tells a Story—If You Can Find It Fast Enough Cliff and Steven are making petabytes of

3/10/2026

Services: The New Software

Services: The New Software By Julien Bek Published March 5, 2026 The next $1T company will be a software company masquer

3/6/2026

Services: The New Software - Sequoia Capital

3/5/2026

Partnering with Firetiger: Validation at the Speed of AI

Partnering with Firetiger With code shipping at a breakneck pace, how does observability keep up? Rustam and Achille bui

2/18/2026

The Opening, Midgame and Endgame in Startups

The Opening, Midgame and Endgame in Startups Why the best founders are “time travelers” who play all three phases simult

2/11/2026

The Opening, Midgame and Endgame in Startups - Sequoia Capital

2/11/2026

Partnering With Waymo

Partnering with Waymo to Reshape how the World Moves By Konstantine Buhler and Abhishek Malani Published February 2, 202

2/2/2026

Partnering With Flapping Airplanes

Partnering With Flapping Airplanes Building the “young person’s AGI lab” to unlock data efficient models, which we belie

1/28/2026

Partnering with Pace: Making Work Weightless

Partnering with Pace: Making Work Weightless By Bryan Schreier and Lauren Reeder Published January 27, 2026 Team Pace. I

1/27/2026

The Most Precious Resource

The Most Precious Resource Kais, Blockit, and Optimizing Time By Pat Grady Published January 22, 2026 Adding Value Peopl

1/22/2026

2026: This is AGI - Sequoia Capital

1/14/2026

ElevenLabs’ Mati Staniszewski: Why Voice Will Be the Fundamental Interface for Tech - Sequoia Capital

10/28/2025

Building Tomorrow’s Transformational Companies - Sequoia Capital

10/27/2025

Pricing in the AI Era: From Inputs to Outcomes, with Paid CEO Manny Medina - Sequoia Capital

10/24/2025

Investment Signals

20
ThesisFintech88%

Prediction markets can extend beyond binary outcomes to create indices that continuously measure complex, ongoing questions that never fully resolve, opening new market categories.

Source: Listen to the Market
ThesisFintech92%

Markets are superior signal processors for forecasting future outcomes compared to traditional sources like media, polls, and social feeds because financial stakes enforce accuracy over performance.

Source: Listen to the Market
InvestmentFintechGrowth95%

Sequoia Capital is backing Kalshi, a prediction market platform that has launched the American Power Index (KPOW) to measure political power shifts through market mechanisms rather than polling.

Source: Listen to the Market
OpinionEnterprise70%

Legacy military systems rely on outdated 1970s software and hardware, creating cognitive dissonance with modern AI and control technology advancements, suggesting modernization opportunities.

Source: All Systems Nominal – Nominal Spotlight
ThesisEnterprise80%

There is a market opportunity in specialized hardware testing and data review platforms that can accelerate development cycles for complex systems like hypersonic aircraft and military hardware.

Source: All Systems Nominal – Nominal Spotlight
InvestmentEnterpriseGrowth85%

Nominal, a hardware testing platform company, successfully enabled Hermeus to conduct dual taxi and liftoff tests in two hours instead of weeks/months, demonstrating significant operational value in the aerospace/defense sector.

Source: All Systems Nominal – Nominal Spotlight
TrendAI / ML88%

Key investment areas in AI include agent revolution, robotics endgame, space-based data centers, data efficiency, and neural network science.

Source: AI Ascent 2026
ThesisAI / ML92%

AI's cognitive revolution will follow the Industrial Revolution arc but at larger scale and speed, disrupting cognitive work similar to how mechanization disrupted manual labor.

Source: AI Ascent 2026
ThesisAI / ML93%

2026 marks the year of agents, with three critical ingredients (models, tools, harnesses) finally converging to enable practical deployment.

Source: AI Ascent 2026
ThesisAI / ML95%

AI is a computational revolution comparable to cars rather than incremental improvement; founders should build moats from customer needs backward and exploit deployment gaps with Fortune 500.

Source: AI Ascent 2026
OpinionAI / ML85%

Sequoia sees exceptional founder quality and technical execution in Standard Intelligence's young team (ages 20-21), viewing their approach as showing unusual taste, scrappiness, and technical courage.

Source: Standard Intelligence: Training General Intelligence in Pixel Space
TrendAI / ML88%

The race to build general computer agents (vs just coding agents) is intensifying, with video-first pre-training emerging as an unconventional but promising technical direction.

Source: Standard Intelligence: Training General Intelligence in Pixel Space
ThesisAI / ML92%

Video pre-training on computer use is a superior path to building general agents compared to language models and tool-calling approaches, following a scaling/bitter lesson paradigm.

Source: Standard Intelligence: Training General Intelligence in Pixel Space
InvestmentAI / ML95%

Sequoia Capital led Series A investment in Standard Intelligence, a startup building general computer agents through video pre-training and pixel-based learning rather than language models.

Source: Standard Intelligence: Training General Intelligence in Pixel Space
ThesisAI / ML88%

Current generation LLM-based AI trained on human internet data may have fundamental limitations, and clean-slate reinforcement learning represents a superior alternative path to advanced AI.

Source: Partnering with Ineffable Intelligence: A Superlearner for the Era of Experience
ThesisAI / ML92%

Sequoia believes reinforcement learning systems trained purely from environmental experience, without pre-training or human data, can develop non-human reasoning strategies and potentially achieve superintelligence.

Source: Partnering with Ineffable Intelligence: A Superlearner for the Era of Experience
InvestmentAI / MLSeed95%

Sequoia Capital co-leads first round of funding for Ineffable Intelligence, a London-based AI research lab founded by David Silver focused on reinforcement learning-based 'superlearner' systems that learn from experience without pre-training or human data.

Source: Partnering with Ineffable Intelligence: A Superlearner for the Era of Experience
ThesisAI / ML88%

AI can disrupt enterprise software implementation by serving as an autopilot that manages context, dependencies, and platform updates beyond human consultant capabilities.

Source: Partnering with Auctor
ThesisEnterprise92%

Enterprise software implementation is a massive, underutilized market worth $500B+ annually with 9M consultants, representing one of the largest and least disrupted technology markets.

Source: Partnering with Auctor
InvestmentEnterprise95%

Sequoia Capital is leading Auctor's Series A funding round. Auctor is an AI-powered platform automating software implementation across enterprise systems like ServiceNow and Salesforce.

Source: Partnering with Auctor

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