Working notes on where Spice saw a market before it became obvious.
Creator economy
ThenCreators were becoming media companies, but most of the tooling still treated newsletters like a side channel.
NowCreator-led media looks like infrastructure: publishing, audience ownership, monetization, and analytics in one workflow.
Beer
ThenWe invested near the bottom of the beer market, when category sentiment was weak and many people treated beer as culturally tired.
NowBeer is showing signs of cultural and financial life again. The opportunity is not old beer; it is beer rebuilt for a new consumer.
Neurodivergent care
ThenAdult autism and ADHD care was underbuilt: long waitlists, few specialized clinicians, and very little care designed for adults.
NowAutism and neurodivergence have moved into the mainstream conversation, making the gap in adult care harder to ignore.
Simulation
ThenDigital replicas of physical systems felt niche, technical, and mostly industrial.
NowAI makes simulation more useful: buildings, bodies, factories, and infrastructure can be modeled, tested, and optimized before reality catches up.
Brick and mortar
ThenOffline businesses were often treated as less venture-scale, even when they had strong customer love and repeatable local economics.
NowBrick-and-mortar operators need modern financing, data, and growth tools built for the physical world.
Artificial wombs
ThenArtificial wombs sat at the edge of science fiction, reproductive health, and frontier biology.
NowFertility, neonatal care, and reproductive technology are moving from taboo to urgent infrastructure.