I’ve moved most of my writing on business and technology to ScreenshotEssays.com.

Below are a few of the latest essays:

We are thrilled to share that Bedrock has led a $50M Series D in The Athletic. This represents our third investment in the company in less than 18 months.

The Athletic was founded in 2016 on the bold premise that readers would pay for high-quality sports journalism. No ads or clickbait.

The bet paid off. In just a few years, The Athletic has built a rapidly growing subscriber base of well over 600,000. This growth is the result of a virtuous cycle that exists when a subscription business is working powerfully.

Loyal subscribers give The Athletic the economic engine to…

By Geoff Lewis and Eric Stromberg

When we launched Bedrock last March, we wrote that our mission as a firm is to search for narrative violations: promising companies that are overlooked or underestimated because they are incongruent with popular narratives. Today, we’re pleased to share that Bedrock has closed an oversubscribed $350 million second fund to support our mission. As with Fund I, our focus remains leading or co-leading Series A and B venture capital rounds. The firm now manages over $475 million across two funds.

In addition to Geoff and Eric collectively being amongst our own larger investors in Bedrock II, we are humbled to…

A multi-billion dollar market opportunity hiding in plain sight

We are excited to share that Bedrock has co-led a $5.5M Seed financing round in Dipsea alongside our friends at Thrive Capital.

Over the past decade nearly every large consumer market has produced category-defining mobile companies — from finance to shopping to food to music. It can sometimes feel as though all of the best ideas have been taken.

Yet founders consistently surprise by creating new markets and reimagining existing ones in a mobile context. …

We are thrilled to share that Bedrock has led a $6M Series A in Crayon alongside Baseline Ventures and other investors. Aside from Crayon’s extremely fast enterprise revenue growth, I’d like to outline why we at Bedrock are so bullish on the company.

One of the most important technology stories of the past decade has been the transformation of how companies use internal data to drive business decisions. …

We are excited to share that Bedrock has co-led a $40M Series C financing round in The Athletic alongside our friends at Founders Fund.

I first met The Athletic founders, Alex and Adam, during Y Combinator in 2016. At the time, their plan to create a subscription for local sports writing was particularly audacious.

The popular narrative was that readers simply weren’t willing to pay for written content online. The only way to win as a media company was to build an engine that output a high-volume of free clickbait articles to social platforms, monetized through ads. …

In Search of Narrative Violations

Last year I left Google to start Bedrock, a new Series A-focused venture capital firm, with my friend Geoff Lewis. Today we’re excited to share that we’ve closed our first fund and have made three investments so far, including HQ Trivia and RigUp.

Our strategy is to search for narrative violations — companies that are underestimated because they are incongruent with the popular storyline.

We believe this is especially important today, when capital tends to be dramatically over-allocated to startups that align with the strongest market narratives. …

Follow this link to view the full B2B matrix

Last month I published The Startup Idea Matrix to help founders brainstorm new startup ideas. The matrix outlines various consumer markets and tactics a company can take to bring a unique product to the market. Chris Dixon first showed me this format a few years ago, and since then I’ve found that browsing rows and columns of matrixes like this can help inspire new ideas.

The response to that post has been amazing— in the past few weeks I’ve received hundreds of messages from readers, outlining a wide range of creative new ideas.

I also received hundreds of requests for…

Two weeks ago I published The Startup Idea Matrix to help founders with the brainstorming part of the startup journey. I thought I’d take some time to write about what comes after you find an idea that inspires you — specifically, how to build momentum for your idea.

Over the past 7 years as founder and investor, I’ve met a lot of talented founders who were just getting started on big ideas. Some have gone on to build billion-dollar companies and others never even got started.

What separated the two groups? Over time, many things. But initially I’d argue it…

Follow this link to view the full matrix

You can follow my latest writing at ScreenshotEssays.com

I meet a lot of people who are interested in starting a company, but haven’t found an idea they are excited to work on for the next 5 to 10 years.

I generally think it is smart to have patience in finding an idea that pulls you in: a market or opportunity you can’t imagine not pursuing. Patience in the near-term will save you a lot of time in the long-term.

However, I’ve found one way to find this idea is to gain broad exposure to different markets until a specific opportunity and mission stands out to you. Of course…

Eric Stromberg

Founder & Managing Partner at Bedrock

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