Compound
Thesis DBAboutPortfolioWriting
Compound
Reference

Business Model
Database

For those with a hammer, looking for a nail

Compound as a firm is devoted to helping highly technical, n-of-1 companies with untrodden commercialization paths.

We hope this resource helps the teams that know their technology inside and out but have less exposure to thinking through the intricacies of how to identify the best possible business model to build a sustainable and self-reinforcing business.

Of course, the specifics always depend on the exact situation. We have many more thoughts than those summarized in each section and would love to jam with you about what you're building. Please reach out over twitter or email.

Relevant Reading

  • Sequencing vs. Equal Odds in building applied research companies
  • The Venturification of Research and The Resulting Prisoner's Dilemma
  • Narrative Cycle Entry or how companies should position their narrative w.r.t. hype cycle
  • The Evolution of Perception Markets: Schelling Point Companies, Reality Ratios, & Narrative Receptacles
Thesis DBPortfolioTwitter
23
Models
6
Categories

2026 Compound

Filter & Search
Platforms
AI/ML

Platforms

Facilitate relationships between users and 3rd-party developers

AI/MLHealthcare
Read
Aggregators
AI/ML

Aggregators

Aggregate critical mass of end demand

AI/MLHealthcare
Read
Franchising
Other

Franchising

For supply-constrained goods requiring local operators

Other
Read
High Tech CROs
Bio

High Tech CROs

Physical services for core biopharma workflows

Bio
Read
Usage-Based Pricing
AI/ML

Usage-Based Pricing

For products with power users & high marginal costs

AI/ML
Read
Subscription-Based Pricing
AI/ML

Subscription-Based Pricing

Making the most of the fabled recurring revenue

AI/MLCrypto
Read
Partnership
AI/ML

Partnership

KKR / McKinsey / Cravath-style partnership as a startup

AI/ML
Read
Block Building
Crypto

Block Building

MEV in exchange for lengthening the chain

Crypto
Read
Crypto Terminals
Crypto

Crypto Terminals

Bloomberg tooling x crypto-native infra

Crypto
Read
JVs for Physical Products
Other

JVs for Physical Products

Partner with incumbents for scale up, own the royalties

OtherBio
Read
SaaS for Healthcare
Healthcare

SaaS for Healthcare

Selling software to hospitals, doctors, insurance, payers, patients

Healthcare
Read
Modality Biotech Platform
Bio

Modality Biotech Platform

New or improved modality

Bio
Read
Full-Stack Robotics
Robotics

Full-Stack Robotics

Selling end-to-end solutions

Robotics
Read
DePIN
Crypto

DePIN

Physical infra, but decentralized

CryptoRobotics
Read
RaaS
Robotics

RaaS

Leasing a robot to a customer

Robotics
Read
DTC
AI/ML

DTC

In theory, the intermediaries are removed

AI/MLBio
Read
2-Sided Marketplace
AI/ML

2-Sided Marketplace

Solving search, trust, and friction

AI/MLHealthcare
Read
Forward Deployed Engineer
AI/ML

Forward Deployed Engineer

Palantir did it so it must be good

AI/MLBio
Read
Hub-and-Spoke Biotech Platforms
Bio

Hub-and-Spoke Biotech Platforms

Applying portfolio theory to bio startups

Bio
Read
DeSci
Bio

DeSci

Science meets decentralization and tokenomics

BioHealthcare
Read
SaaS for Biopharma
Bio

SaaS for Biopharma

Selling white coats software

Bio
Read
Discovery Bio Platforms
Bio

Discovery Bio Platforms

Discover biological insights and / or develop drugs for targets

Bio
Read
Selling Data
Bio

Selling Data

Sell pharma data, rather than partnering on drugs

Bio
Read