@benjamindblack

VC, pioneering secondaries since 2010, co-founder of Akkadian Ventures, Raise Global and @pwrl_

San Francisco
Joined November 2008
Venture Capital is Dead: A Thread 1/11: Most people in this industry won't say it out loud yet, but the thing we all thought we were doing is over. Not in a "temporary reset" way. Dead. 🧵
1
1
5
857
1/2 Shield AI builds autonomy software, including its Hivemind system, used in uncrewed military aircraft. Which part of the portfolio does that put it in? 🛡
1
1
74
1/2 Deel provides payroll and compliance infrastructure across 150+ countries. So what does that make it, in our portfolio? 🌍
1
1
75
Join the @PWRL_ Investor Conference Call & Webcast Wednesday, Sep 30, 2026, at 1:30 p.m. PT / 4:30 p.m. ET. We’ll discuss recent announcements and answer investor questions. Register and submit questions today: pwrl-investor-update-sept202…
1
69
1/2 Kraken, founded in 2011, is one of the longest continuously operating cryptocurrency exchanges in the U.S. Guess where that lands it in PWRL's framework. 💱
1
1
89
Powerlaw announces a 6% dividend. Now you can own the future and generate current income! Check it out.
1/5 The next chapter in private-market investing is here. Powerlaw Corp. (Nasdaq: PWRL) pairs access to a portfolio of private technology companies with a new monthly distribution program. Here’s how it works. 🧵
1
1
297
1/ Powerlaw Corp. (Nasdaq: $PWRL) has published its Monthly Net Asset Value (NAV) Report as of August 31, 2026. The report includes the latest NAV, NAV per share, historical NAV since inception, and a clear explanation of where, when, and how NAV is reported. A thread ↓
1
3
7
383
1/2 Colossal Biosciences produced the first de-extinction proof of concept, genetically engineering dire wolf pups from ancient DNA. So how does PWRL classify it within the portfolio? 🧬
1
1
1
169
1/2 Kalshi operates a CFTC-regulated exchange for trading event contracts. Here's how PWRL classifies it, and why. 📊
1
1
2
178
6/ For informational purposes only. Not investment advice, a recommendation, or an offer to buy or sell securities. Investments involve significant risk, including possible loss of principal. PWRL is a closed-end fund. Its shares may trade above or below NAV. See PWRL.com.
1
36
5/ Company metrics are derived from third-party sources believed to be reliable but have not been independently verified by PWRL or its adviser. Exposure may be held directly or indirectly, including through SPVs. Official PWRL disclosures and SEC filings control.
1
1
39
4/ IMPORTANT INFORMATION Portfolio information is presented as of June 30, 2026, unless otherwise noted. Holdings, values, position sizes, portfolio composition and company classifications are subject to change.
1
1
31
3/ OpenAI is one of 19 companies examined in the complete PWRL Portfolio Intelligence Deep Dive. Go company by company to learn what each business is building, why we believe it matters and the risks that could affect each investment thesis. Watch: youtube.com/watch?v=cTQgwK9U…
1
1
68
2/ OpenAI develops artificial intelligence models and products, including ChatGPT. In our view, its scale and position at the foundation of the emerging AI ecosystem make it an important company to understand.
1
1
1
68
Ben Black - VC retweeted
Extraordinary share gains for OpenAI vs. Anthropic over the last two months. Per Openrouter, OpenAI has gone from 20% share to 50% share vs. Anthropic (meaning Anthropic has gone from 80% to 50%) since June.
224
280
123
3,503
652,008
1/2 OpenAI created ChatGPT, one of the most widely adopted AI assistants in the world. So where does that put it in PWRL's portfolio? 🧠
1
1
123
2/6 Hosted by @benjamindblack, who explains what each portfolio company does, why we believe it matters, the evidence of progress we monitor, and the risks that could affect the investment thesis.
1
1
93
1/ What is PWRL portfolio company @OpenAI building and why do we believe it matters? In this Portfolio Intelligence Short, CIO @benjamindblack examines the company and the evidence of progress we monitor. Watch: youtube.com/shorts/kQ-pSq8L5…
1
1
1
379
2/6 Narrated by @benjamindblack , who offers insights into the PWRL Portfolio, including progress signals we monitor and the risks that could affect each investment thesis. All portfolio figures and information are presented as of June 30, 2026, unless otherwise noted.
1
1
35
People want more transparency out of public venture capital funds. We are doing our part.
1/ What is PWRL portfolio company @OpenAI building and why do we believe it matters? In this Portfolio Intelligence Short, CIO @benjamindblack examines the company and the evidence of progress we monitor. Watch: youtube.com/shorts/kQ-pSq8L5…
124
The PWRL portfolio is more than a wall of logos. 1/6 Watch the $PWRL Portfolio Intelligence deep dive, a company-by-company look inside the portfolio to learn what each company is building and why we believe it matters. youtube.com/watch?v=cTQgwK9U…
1
2
3
517