The rise of the annual recurring tender New in Dealmaker:

Shout it from the rooftops: investors perk up when we mention defense, but overlook the ~$2T consumer market. Textiles and apparel are absent from the conversation, dismissed as low-cost goods unworthy of domestic production. Reindustrialization means minerals, steel, energy, and yes, textiles. In the U.S. alone, the textile and apparel sector drives over $500 billion in economic activity.

I have thought more about recruiting in the past month than I have in my entire VC reporting career. Some details on other moves underway in Dealmaker today:

Scoop: Boris Cherny and Cat Wu are back at Anthropic, two weeks after joining Cursor. 🤯🤯🤯

New column w/ @coryweinberg on speed & greed

anthropic launching claude for financial services today shows it's pushing further into the ai apps' territory supports my view earlier this month that at ~15x ARR, where it last raised, it's the closest thing ai has to a value investment

On Thurs, the 40 ppl joining Google got notified in a special meeting- they got comp worth 2x’d their Windsurf shares On Fri, the rest found out & Windsurf execs started talking to multiple suitors about acquisition. Cognition acquired everything and accelerated vesting.

Windsurf interns just had the craziest onboarding

Scoop: Cognition to acquire Windsurf's remaining employees, IP, product

You're making fun of the name. You're comparing us to another digital tech streaming show. You're scoffing. You don't believe. We're building. We're in the arena. We have @akashpasricha hosting. We actually get the facts. TITV. Tee Eye Tee Vee. Know it, watch it.