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Deals, Fails, Success Stories: Mein Blick auf die Startup-Welt.
Venture capital is going through another round of criticism. Travis Kalanick recently argued that even “do no harm” is a high bar for a VC, and that only around one percent of investors are genuinely helpful. It is a provocative statement, especially coming from someone who has relied heavily on venture capital throughout his career.…
For years, the startup playbook was fairly straightforward: start with a strong idea, build a team, raise capital early and grow as quickly as possible. For software companies, that approach made sense because even getting to a solid first product often required significant resources. AI is changing that equation. Small teams can now build, test…
There is a strange paradox emerging in venture capital. AI may become one of the greatest investment opportunities of our generation, but the more convinced investors become of that outcome, the more concentrated the venture market appears to become. According to PitchBook data cited by Axios, OpenAI and Anthropic alone reportedly attracted more than 60…
One number stood out in venture capital this week: $47.4 billion was invested in so-called Physical AI companies in the first half of 2026 alone, across 521 deals. That is almost four times as much as in the second half of 2025 and roughly 80% more than in the first half of last year. Even more…
In my latest BILANZ column, I wrote about a question that is becoming impossible to ignore: does the traditional venture capital model still work? VC depends on a simple promise: investors lock up capital for a decade or more, accept high risk and illiquidity, and receive outsized returns in exchange. But in today’s market, many…
SPVs — special purpose vehicles — are becoming increasingly popular in venture and tech investing. Their promise is simple: they give investors access to private companies they might not otherwise be able to invest in directly. That sounds attractive, especially when the company is a hyped pre-IPO candidate. Think SpaceX, Anthropic, Stripe, or in Europe,…
The NZZ recently highlighted an unusual Swiss AI story: a Basel-based association called Macroscopic Ventures is reportedly among the early investors in Anthropic, the company behind Claude. What makes the story remarkable is not only the potential financial return, but also the background and motivation of the investor. Macroscopic Ventures reportedly invested in Anthropic as…
Der Schweizer Startup-Markt zeigt im Mai 2026 ein klares Bild: Life Sciences dominieren das Finanzierungsgeschehen. Gleichzeitig fliesst europaweit wieder deutlich mehr Kapital – insbesondere in AI-Infrastruktur, Data Centers, Chips und Drug Discovery. Die wichtigsten Entwicklungen des Monats diskutieren Guy Giuffredi und ich auch im aktuellen Burn Rate Podcast. Investment-Volumen Schweiz: Leicht unter April Im Mai wurden…
For years, the venture-capital playbook seemed remarkably straightforward: build software, scale quickly and benefit from attractive margins. In the age of artificial intelligence, that logic is beginning to change. The reason is almost paradoxical. Software has never been easier to build. AI-assisted development tools allow founders to launch products faster, with smaller teams and significantly…
AI startups are growing faster than any software generation before them. At least on paper. Behind some of the most impressive revenue announcements, however, lies a surprisingly flexible interpretation of ARR. Founders and investors should take a closer look. The headlines sound spectacular: an AI startup reaches $10 million in Annual Recurring Revenue within months.…
Max Meister 