Where founders and investors get the intelligence to understand where capital is moving — written by a GP who has built and backed companies in emerging markets from both sides of the table.
| Platform |  | Pricing | Freemium | Publishes | Daily |
|---|---|---|---|---|---|
| Issues | 76 | Founded | 8 months ago | Last Issue | 5 days ago |
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scalesignals.substack.comLatest Issues
How Palantir Built Software Institutions Couldn’t Easily Remove
Palantir’s real advantage was not complexity. It was becoming part of how institutions make decisions.
How Palantir Built Software Institutions Couldn’t Easily Remove
How SpaceX Built the Cadence No Rival Could Buy
Cadence becomes visible only after enough operating cycles have accumulated.
Most people explain SpaceX through the things they can see: reusable rockets, dramatic booster landings, NASA contracts, Starlink satellites and, inevitably, Elon...
The Capital Stack, as at June 2026
The after picture — what changed, and what to do with it. Part two of our 6 monthly series
A founder walked into a conversation with me last week with a plan she’d built nine months earlier. Vertical B2B software, $4M of ARR, growing 60% y...
What I Count Before I Believe Your Raise Is Real
I’ve been thinking about why some founders close their rounds quickly and others spend six months on a pipeline that never quite moves. (You’d think it would be the obvious things — better company, better deck, more meetings. It mostly isn’...
The Deal Read: Four rounds from May, decoded from both sides of the table — and why the same structure can mean opposite things
Capital Signals Briefing — June 2026
Most people read a funding announcement the way they read a scoreboard. A number, a name, a stage. Company raises $700 million; the market is hot. Company raises $45 million; the market is smaller. The...
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Authors
The writers behind this newsletter.
The edge that gets you to the right yes, faster. Ben Botes — active GP and four-time exited founder on how capital really moves and the calls founders get wrong.
I backed 13 ‘unicorns’ at pre-seed and seed. Writing for angels who want better returns and startup founders who want their attention.
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