TBD Touchpoint (390 strategy)

Attendees: Dustin J Ross, Bliss Perry Date: March 17, 2026 Type: Partner Session

Summary

Independent Study Structure Options

• Two potential research directions for Jonathan Burke collaboration:
  1. Value chain analysis: Where do rents accrue in semiconductor value chain?
     • Shows where the margin/fat is
     • Identifies prospective customers with willingness to pay
     • More customer-focused approach
  2. Risk transfer mechanisms: Why don’t insurance/hedging products exist for semiconductors like they do for oil?
     • Product-focused approach
     • Explores parametric insurance possibilities
     • Examines price indexes with corresponding derivatives
     • Potential collision with prediction markets

Strategic Direction Discussion

• Debate over semiconductor specialization vs staying nimble across sectors
  • Don’t know enough about semis yet to fully commit
  • Independent study as way to “dip toe in” and make informed decision
• Key question: Can we build mechanism to force semiconductors to behave like other commodities?
  • Not just identifying missing analogy link, but creating it
  • Shifts from academic observation to problem statement

Technical Advisor Goals

• Next quarter objective: Find federated data structure expert (professor-level)
  • Technical advisor for data modeling expertise
  • Jonathan Burke specializes in finance/derivatives, not data modeling

Product Development Alignment

• Dustin requests to be brought along on technical product journey
  • Wants to understand software architecture, cloud infrastructure
  • Goal: Speak about product in detailed technical terms
  • Analogy: Like construction manager understanding process without being structural engineer

Next Steps

• Dustin to text Jonathan Burke about Bliss joining full Thursday lunch meeting
• Present both independent study options to Jonathan Burke for decision
• Bliss to attend Thursday meeting to build relationship with Burke and potentially assist with independent study work