In 2011, Marc Andreessen famously proclaimed, “Software is Eating the World.” The thesis was that internet startups were “poised to take over large swathes of the economy,” and make all the failed dreams of the dot-com era (Act I) finally come true.
Andreessen was at least half right. In the decade that followed (Act II), software companies like Apple, Microsoft, and Google ascended to become the most valuable in the world. Billions of people did indeed buy smartphones, as predicted. And entire industries—news, entertainment, travel, communications, retail, productivity, finance, and more—were swallowed whole by software.
But software still hasn't eaten everything. The industries that form the foundation of the American economy—healthcare, logistics, construction, transportation, manufacturing, etc—are still waiting for the revolution. Just ask any consumer trying to find the right specialist at a hospital, or get insurance for a leaky roof. All across America, we are confronted with the type of antiquated, complex bureaucracies that we thought software would fix. The pandemic revealed how brittle our systems are. It’s now clear our foundations are crumbling.
But there’s good news: we are now on the precipice of Software's Third Act, in which startups will finally deliver on the dream of transforming the economy’s foundational industries. Identifying, backing, and supporting these companies is my life’s work, and inspires everything we do at The Council Fund.
In the full essay (linked below), I cover:
⏳ why Act III is finally the time for software to transform essential industries
🦿 which founders will have a leg up in Act III
🌁 why Silicon Valley will still be center-stage in Act III
🧗 how companies can scale vertically vs horizontally
🌟 how we @thecouncilcap support them
There’s something special about an early stage team that’s outgrown their office. It’ll never look the same again.
Spent some q time with the @noxmetals team today in Detroit, sharing lessons from my career. They wanted the failures and successes. That curiosity & determination will take them far 🦅
Congrats to @zanehengsperger and @noxmetals on their $11.5M seed!
They're building the industrial metal supply infrastructure America needs to scale domestic manufacturing. Just seven months after launching production, they've already shipped metal to hundreds of American factories.
This summer they're revitalizing a WW2-era, 30,000 sq ft factory in Detroit.
https://t.co/KeA3WiOynD
Let's go! Proud to be an investor in Nox since Pre-seed with our fund 2. We also followed on in this round and put together an SPV for our LPs who are already finding strategic ways to help the company :)
Nox Metals exists so America can build 100x more factories and technologically abundant industrial capacity in the West.
We are announcing our $11.5M Seed round led by Hyperion, with participation from Palmer Luckey, Y Combinator, Jared Friedman, RoboStrategy, Operator Collective, DTX, Alumni Ventures, and others.
Over the past few decades, America has neglected domestic production. We lost our dominating ability to build in the world of atoms while jobs on the factory floor plummeted.
It's time to build for America again. As our grandparents once did.
Since launching production only 7 months ago, we have shipped metal to hundreds of American factories. Countless truckloads to America's industrial base. And we are no where near slowing down.
Our metal has gone to space. It has protected our troops. It is in your car and in the machine that scanned your chest. It is all around us. And we can't stop supplying at warp speeds, because America needs it.
We will be revitalizing a WW2 era, 35,000 SQFT factory in Detroit this summer where we will have our techno industrialists working hard to further pursue our mission. We will be tripling down on technology, which has allowed us to move this fast for America thus far.
More code. More machines. More metal. More production.