AI is the New Cloud
Capturing the Next 15-Year Paradigm Shift
The AI Disruption: Generational Opportunity
Bessemer Cloud Index
The Proof: Cloud Era
2013 - 2021
Outperformed
2.14x
of S&P 500
The Reckoning
Last 3 Years
Underperforming
0.37x
of S&P 500
2013-2021 Outperformance → Recent Underperformance
Our Thesis: AI Era
ALL PATH AI Future Fund
2023 - 2040
AI & Next-Gen Tech Outperformed
2x+
over the past 2 years
Cloud was the emerging tech in 2013, massively outperforming for a decade. But cloud underperformed massively since 2022 when the AI wave got started. We believe AI represents a larger generational opportunity today and will drive similar outperformance over the next 15 years.
Why NOW?
🎯
Skepticism Creates Opportunity — AI skepticism keeps many investors on the sidelines, creating a generational opportunity
🚀
Early AI Production — Enterprise AI deployment has just gotten started; we're in the first innings
⚡
Asymmetric Opportunities — Ongoing AI tech roadmap shifts create great asymmetric risk/reward
Why US?
Visionary top-down tech investor with deep expertise in identifying secular technology trends before institutional consensus.
Valuation & risk specialist combining rigorous financial analysis with systematic portfolio construction methodologies.
Technology generalist bridging engineering and investing. Translates complex AI system dynamics into high-conviction research.
Discovering Opportunity: Proprietary screening model identifies high-volatility, under-covered tech stocks.
Evaluating Moat & Vision: Product, Architecture, Vision framework assesses structural advantage.
Positioning & Sizing: Market, Street, Us framework maps consensus vs. our thesis to size positions.
Foundational Philosophy: Ergodic framework diversifies across tech value chain for compounding.
