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Notes on building forever.
Essays on permanent capital, AI-native SaaS economics, and what we're learning operating our brands.
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May 24, 2026·Investors·5 min read
Proprietary data is the only real AI moat in vertical B2B SaaS.
Model access is not a moat. Cobalt Glacier underwrites AI features on the data behind them — workflow-generated, non-obvious schema, closed feedback loop — not the model in front of them.
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May 15, 2026·Operator notes·6 min read
Pricing power in vertical SaaS: why narrow workflows compound faster.
Pricing power is the right to raise prices annually without measurable churn. Vertical B2B SaaS earns it faster than horizontal SaaS because the workflow is narrower, the competitor set is shallower, and the buyer feels the pain directly.
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