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The Closed-Loop AI Economy: Why Control of Compute Is the New Capital Strategy
For decades, growth was defined by distribution. Companies manufactured products, sold them externally, reinvested profits, and repeated the cycle. Capital leaked outward at every step—through suppliers, vendors, energy providers, and infrastructure operators. That model is quietly being replaced. Today’s most dominant technology players are building something far more powerful: Closed-loop ecosystems that internally consume the very infrastructure they produce. From Vertical

Rich Washburn
Feb 163 min read


When Capital Meets Constraint: Rethinking Infrastructure Through an Investor Lens
Innovation in capital markets rarely comes from novelty alone. More often, it comes from reassessment — from asking sharper questions about assets that already exist. Not what was this built to do , but what else can this support ? A recent infrastructure project in Switzerland offers a useful illustration. At a decommissioned satellite teleport in the Alps, massive satellite dishes — once critical to global communications — are being repurposed as solar-tracking energy syste

Rich Washburn
Jan 293 min read
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