Thesis
The work doesn't wait on a hire.
In the industries we build in, volume arrives whether or not anyone was hired to meet it. Claims come in. Faxes come in. Filings come due. Every one of them costs a unit of human attention, and the only response the industry has ever had is to find another person or let the backlog grow. We form companies on a closed-loop agentic platform and point it at that work.
01
The number that makes this a business.
In American healthcare, roughly $740 billion a year goes to administrative services against about $63 billion to information technology. Eleven and a half dollars of people for every dollar of software.
That ratio is the thesis. It is not that these industries lack software — most of them bought some. It is that the software never touched the work. The work stayed with people, and the cost of the work stayed tied to how many people you could hire.
People.Ideas.Capital.Opportunity,multiplied.
02
Where the opportunity sits.
A specialist practice pays $15.99 to chase a claim status by hand and $5.40 to do it electronically. A mortgage servicer pays $176 a year on a loan that behaves and $1,573 on one that doesn't — an eight-fold jump driven entirely by exceptions, not by loan size.
That gap between the routine case and the exception is where the whole opportunity sits.
03
Why a studio, and why many.
When the seat fills, we keep the loop, so the next company does not start from zero.
The people at the table from the beginning are owners. That part does not change.
Sources: Menlo Ventures, April 2026 · CAQH Index · MBA Servicing Operations Study, 2024 data.
Bolder ideas.A brighter tomorrow.