We build, incubate, and back high-leverage companies at the intersection of software, capital, and regulation. Operator-led. Compounded over decades.

Two decades of shipping software, most of it without asking permission.

I started building internet businesses in the early 2000s and haven't stopped. Along the way I've run teams, bought and sold companies, written code at 2am, written cheques in the morning, and learned — sometimes painfully — which problems are worth a decade of my life and which ones are not. Zeno is how I work now: fewer bets, longer horizons, more ownership.

The way I think leans on a small set of mental tools — second-order effects, inversion, the Lindy test, and the discipline of asking "what does this look like in ten years?" before asking "what does this look like next quarter?" I'm biased toward durable problems with structural tailwinds, and biased against cleverness that doesn't survive a downturn. I'd rather be approximately right about a big thing than precisely right about a small one.

Today my build focus is Breeze. My incubation focus is picking one or two operator-founders a year to co-build with. Everything else is compounding in the background — which, if the principles on this page are right, is exactly the point.