Every AI Company inside one Studio creates adjacency. Adjacency is an advantage only if it is disclosed before anyone finds it.
Any commercial arrangement between portfolio Companies is approved at the Board of each, priced at arm's length and reported separately from headline revenue.
Where a portfolio Company licenses technology from a business connected to a principal, the terms are approved by independent directors, priced at arm's length and disclosed.
Hardware and manufacturing partners are reviewed by trade counsel for export-control, sanctions and foreign-entity rules before any agreement.
Positions held outside Kingmaker are disclosed in the data room of every portfolio Company at the time of any financing.
Disclosed beats discovered. An investor who finds an undisclosed adjacency prices it as a governance problem. One who is told in the first meeting prices it as a network.