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Founders Fund: The Kingdom - by Mario Gabriele

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“Mario provides in-depth, never-gets-old insights from leading technologists of our age and packages them in a creative, friendly format." — Alexander, a paying member Friends, The end is upon us. In the final edition of “No Rivals,” we examine the full reach of Founders Fund’s power, spanning Silicon Valley, the Pentagon, and the White House. No other firm has played a larger role in tech’s rightward shift or the country’s growing techno-militarism. Those efforts have been driven by Founders Fund’s unusual (and strikingly successful) approach to incubation, a process that has yielded the $30.5 billion Anduril, space manufacturer Varda, and nuclear startup, General Matter. We conclude with a distillation of Founders Fund’s “House Style” and an in-depth look at its performance. This includes a position-by-position analysis and represents the most detailed accounting of the firm’s returns ever reported. If you haven’t started “No Rivals” yet, you can now read the entire series front to b

No Rivals: The Kingdom (Part IV) Founders Fund’s power spans Silicon Valley, the Pentagon, and the White House. Can it remain singular as others mimic its moves? Mario Gabriele Jul 01, 2025 ∙ Paid 172 14 16 Share “Mario provides in-depth, never-gets-old insights from leading technologists of our age and packages them in a creative, friendly format." — Alexander, a paying member Subscribe Illustration by Edmon de Haro Friends, The end is upon us. In the final edition of “No Rivals,” we examine the full reach of Founders Fund’s power, spanning Silicon Valley, the Pentagon, and the White House. N

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