Small Company
Almanac

The future company is smaller. The economics are partnership-shaped.

A record of observations on the economics of small, high-leverage firms

The most valuable companies of the coming decade will be smaller than their predecessors — smaller teams, higher output per person, earlier profitability, and economics that look more like historical professional partnerships than the venture-backed corporations of the last twenty years.

The financial infrastructure surrounding these companies — how they are capitalized, how their people are compensated, how liquidity is created — was designed for a fundamentally different type of organization. The Small Company Almanac documents this structural shift as it unfolds.

Each entry is intended to stand on its own. Together, they build a body of work.