Notes from the second bite
Exits, private equity, AI operating systems, and building the next company faster than the first.
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Exit Windows in the AI Era: Why the Defensibility Clock Changes Your Second Bite Timing
If AI is a slide and not your operating system, you sell at a discount. The three questions buyers now ask, and how to time your second bite around them.
Vertical Agents Priced as Work, Not Seats
Buyers of vertical agents do not want another login, they want a finished job. How to pick the vertical and price the outcome against a salary line.
The AI PE Roll-Up Playbook: Buy Low-Tech Cash Cows, Install the Agent Brain
PE does not have a capital problem, it has a process problem. Buy low-tech cash cows, install the agent layer, re-rate the multiple. The four-stage map.
Why Most PE Portfolio AI Pilots Fail (and the Fix)
PE portfolio AI pilots die at the seam between the human OS and the agent OS. Here is the six-week sequence that reports in EBITDA instead of demos.
How I Replaced the VA Stack with Agentic Workflows
After a PE exit, most founders rebuild the same people stack. Here is what agents actually replaced, and the 5-step build order that saves you a quarter.