The venture-backed software founder has been the archetype of the startup ecosystem for so long that its hegemony is rarely examined. Capital, narrative goes, enables speed; speed enables market capture; market capture enables returns that justify the dilution. The logic remains sound in the abstract. In the practice of building software businesses in 2026, however, the arithmetic increasingly favours a different approach.
Startups
Y Combinator's Summer Cohort: Sixty Per Cent AI-Native Marks a Watershed
Of 214 companies in the S26 batch, 128 are built on foundational model infrastructure — a proportion…