Live Chats
Fable 5: Expensive Intelligence Needs Expensive Work
Frontier models may capture 80% of model revenue, while lower-cost and open-source models may process 80% of tokens.
June 25, 2026
Etna Labs
We Connect Top Founders With Top Researchers
Etna is named after one of the world's oldest active volcanoes, which has been erupting for hundreds of thousands of years and has never stopped.
We back founders who never stop erupting. Neither do we.
We Invest Like Researchers.
Deep Conviction.
Long View.
$3B+
AUM
21
Portfolio Companies
300+
Top Genius in Community
Our Philosophy
portfolio
We Invest Companies defining the Decade.
We're incredibly proud of the advisor network we've built over the years.
Our advisors are the founders, builders, and AI researchers advancing intelligence from the inside, helping us develop conviction early and back the right people at the right time.
Etna Labs
We Connect Top Founders With Top Researchers
Etna is named after one of the world's oldest active volcanoes, which has been erupting for hundreds of thousands of years and has never stopped.
We back founders who never stop erupting. Neither do we.
We Invest Like Researchers.
Deep Conviction.
Long View.
$3B+
AUM
21
Portfolio Companies
300+
Top Genius in Community
Our Philosophy
portfolio
We Invest Companies defining the Decade.
research
We Believe Research that Compounds.
Live Chats
Fable 5: Expensive Intelligence Needs Expensive Work
Frontier models may capture 80% of model revenue, while lower-cost and open-source models may process 80% of tokens.
June 25, 2026
Deep Dive
Inventing Anthropic: Two Ingredients Behind the AI Winner
The rise of Anthropic is a case study in how focus and culture can become strategy.
June 18, 2026
We're incredibly proud of the advisor network we've built over the years.
Our advisors are the founders, builders, and AI researchers advancing intelligence from the inside, helping us develop conviction early and back the right people at the right time.
Etna Labs
We Connect Top Founders With Top Researchers
Etna is named after one of the world's oldest active volcanoes, which has been erupting for hundreds of thousands of years and has never stopped.
We back founders who never stop erupting. Neither do we.
We Invest Like Researchers.
Deep Conviction.
Long View.
$3B+
AUM
21
Portfolio Companies
300+
Top Genius in Community
Our Philosophy
portfolio
We Invest Companies defining the Decade.
research
We Believe Research that Compounds.
Live Chats
Fable 5: Expensive Intelligence Needs Expensive Work
Frontier models may capture 80% of model revenue, while lower-cost and open-source models may process 80% of tokens.
June 25, 2026
Deep Dive
Inventing Anthropic: Two Ingredients Behind the AI Winner
The rise of Anthropic is a case study in how focus and culture can become strategy.
June 18, 2026
We're incredibly proud of the advisor network we've built.
Our advisors are the founders, builders, and AI researchers advancing intelligence from the inside, helping us develop conviction early and back the right people at the right time.