The Latest From The Institute
The AI Gold Rush That Could Reshape Venture Capital Forever
By Corey Ribotsky To understand the scale of what the anticipated liquidity events involving SpaceX, OpenAI, and Anthropic could mean for venture capital, it is useful to compare the current AI cycle to one of the most important venture-backed exits of the modern technology era: Uber. Uber’s IPO was viewed as one of the defining…
The Spirit Collapse: When Blocking a Merger Eliminated the Competition It Aimed to Protect—and Multiplied the Damage
The shutdown of Spirit Airlines on May 1, 2026 is being described in many places as a market failure. That framing is incomplete. The market was already under pressure, but the outcome that ultimately occurred cannot be understood without looking directly at the policy decision that removed Spirit’s only viable path forward. What happened on…
The Pied-à-Terre Tax Is How You Break a Real Estate Market
New York is once again flirting with a policy that sounds good in a press release but collapses under even basic economic scrutiny. The proposed pied-à-terre tax—pushed by Zohran Mamdani and supported by Kathy Hochul—is being framed as a way to make wealthy second-home owners “pay their fair share.” In reality, it is a direct…
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Two Generations, One Country. Thousands of Questions – And a few Answers.
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