My First Million I Asked a $450M VC Where to Invest in 2026
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Mar 3, 2026 
Sheel Mohnot, a venture investor and entrepreneur with ~$450M deployed, shares big-picture investing views. He talks about power-law returns and how to increase surface area for outsized winners. They explore who wins the AI race, which companies are at risk, AI-generated media and digital clones. Conversation includes creative business ideas like niche consumer plays and senior-focused fitness.
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Asymmetric Risk And Portfolio Power Law
- Investing teaches you to value asymmetric risk where small downside and huge upside change decision-making.
- Sheel Mohnot uses the $3M vs $300M example and portfolio theory: a few winners (≈10) drive most returns from hundreds of bets.
Create Mini Yachts To Compound Relationships
- Build “mini-yachts” to create warm introductions and compound social capital through events, newsletters, or hosting.
- Examples: dinner parties, Travis Kalanick's Jam Pad, and Chris Saka's Tahoe guest house accelerated deal flow.
The Default AI Assistant Wins
- The AI race centers on who becomes each person's default assistant with embedded personal context.
- Sheel predicts one dominant model will own contextual data (email, conversations) and act as your everyday chief-of-staff.