THE GREAT CIRCLE OF LIFE

Summary from the TLDR Founders newsletter

Every major technology era follows the same arc - consumer first, then enterprise, then infrastructure - and AI is no exception. The first wave of winners built directly for consumers, but the pattern from prior eras says the durable businesses will be the ones building tooling and infrastructure layers underneath. If you have seen this cycle before, the playbook is clear: the picks-and-shovels companies outlast the gold rushers. Recognizing where you sit in this arc shapes when to enter, who to build for, and how to time your raise.