"In Search of Narrative Violations," seven years on

Seven years ago today, we launched Bedrock with our original ‘In Search of Narrative Violations’ letter. Our core thesis, that extraordinary investment outcomes emerge from investing against prevailing narratives, has defined our strategy ever since.

We wrote then: “When we allow popular narrative to dictate who, where, and what is worthy of our time or capital, breakthroughs that could transcend remain overlooked, underestimated, or simply fade away.”

By relentlessly tuning out narrative noise over seven years and four flagship funds, Bedrock partnered early and with extreme conviction with generational entrepreneurs like Sam Altman (OpenAI), Garrett Langley (Flock Safety) Guillermo Rauch (Vercel) and Parker Conrad (Rippling). Our carefully constructed crypto portfolios have dramatically outperformed, and the defense technology portfolio we began constructing many years ago is now powerfully inflecting. The common thread uniting all core Bedrock positions: Mission-critical infrastructure for our collective future.

Today, a heartfelt thank you to both the extraordinary entrepreneurs we’ve partnered with and the high-conviction Limited Partners who’ve backed us along the way. Amidst unprecedented macro volatility, Bedrock has never been stronger.