Evan Armstrong was a lead writer at Every who explored profit and power in technology in Napkin Math.
Mistral AI Memo Review
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Jun 22, 2023 · 1 min readUpdated Sep 10, 2026
Hey! We are continually trying out new experiments here at Every. A recent startup named Mistral AI just raised over $100M four weeks after starting. This is, observably, nuts. The easy thing is to dunk on this transaction and this team—however these are all smart people making a risk adjusted bet. It is worth examining seriously.
As a bonus for paying subscribers, Dan and I both went through this doc and gave notes/context on it. Whether you believe AI is the next big thing or not, people are investing like it is so you should pay attention to how and why capital is being deployed. All credit for sourcing this memo goes to the team at Sifted. Paying subscribers can click the link below to gain access. Comment mode is on! Feel free to leave your thoughts—Dan and I will respond.
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