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THE SECONDARY MARKET BOOM  How startup employees are cashing out without an IPO – and why private liquidity is the new exit
StartupsMay 31, 2026

THE SECONDARY MARKET BOOM How startup employees are cashing out without an IPO – and why private liquidity is the new exit

For most of startup history, there was only one way for employees to turn their stock options into real money: wait for an IPO. That could take a decade. If it happened at all. And if the company succeeded. Many did not. But that brutal calculus has changed. Over the past three years, a new ecosystem of secondary markets has emerged – platforms that allow employees, early investors, and even founders to sell their shares to private buyers long before a public offering. The result is a revolution in startup liquidity, one that is reshaping compensation, retention, and the very meaning of "building for the long term." The numbers are staggering. According to Forge Global, one of the largest secondary trading platforms, $60 billion in private shares changed hands in 2025 – up 150% from 2023. Carta and Hiive have seen similar growth. And the trend is accelerating. "Employees used to have one lottery ticket: the IPO," says Kelly Rodriques, CEO of Forge Global. "Now they have multiple liquidity events along the way. They can buy a house, pay for college, diversify their portfolio – all while staying at the company. That is a game‑changer.

DEFENSE TECH GOES MAINSTREAM  Why VCs are no longer afraid of the Pentagon – and how a new generation of startups is building weapons for the 21st century
TechMay 31, 2026

DEFENSE TECH GOES MAINSTREAM Why VCs are no longer afraid of the Pentagon – and how a new generation of startups is building weapons for the 21st century

For decades, there was an unwritten rule in Silicon Valley: don't do defense. The Pentagon was slow, bureaucratic, and morally suspect. Top engineers wanted to change the world with social media and self‑driving cars, not missiles and drones. Venture capitalists who funded weapons makers were seen as pariahs. That rule has been incinerated.

THE AGENTIC ECONOMY  When AI writes its own paycheck – and why startups are betting billions on digital workers
StartupsMay 31, 2026

THE AGENTIC ECONOMY When AI writes its own paycheck – and why startups are betting billions on digital workers

The robot did not ask for a raise. It did not request vacation days. It did not complain about the coffee. It just worked. And then it wrote its own paycheck. That is the future that a new generation of AI startups is racing to build – a world where autonomous software agents negotiate contracts, close sales, manage supply chains, and even hire other agents. No humans required. No middlemen. Just code, executing at machine speed.

How a new wave of U.S. chip startups is finally breaking Nvidia’s stranglehold on AI
StartupsMay 31, 2026

How a new wave of U.S. chip startups is finally breaking Nvidia’s stranglehold on AI

For the past three years, one name has haunted every AI hardware startup pitch meeting. Nvidia. The green‑badged giant commands over 80% of the AI chip market. Its H100 and H200 GPUs are the currency of the artificial intelligence revolution. If you want to train a large language model, you write a check to Jensen Huang’s empire. There is no alternative.

The Death of the Unicorn Tax
StartupsMay 31, 2026

The Death of the Unicorn Tax

Focuses on the shift from launch providers to “space services” – refueling, repair, debris removal, and even manufacturing. Profiles Astroscale (US/Japan, debris removal), Starfish Space (Seattle, orbital tug), and Orbit Fab (refueling ports). Data from Space Capital: in‑orbit service startups raised $1.8B in 2025, up 400% from 2023. Quotes from a NASA official about the “LEO economy.” Case study of a dead satellite rescued by Momentus and given a new 5‑year life. Also covers the lunar logistics race: Intuitive Machines and Astrobotic competing to deliver customer payloads to the Moon. Ends with the argument that the first trillion‑dollar space company won’t be a rocket builder – it will be a refueling station operator.

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