AI-Native Firms: Keep Humans in Control of the Last Mile

Key points

Key takeaways from Source interview with Mighty Capital Managing Partner Sc Moatti (October 2026):

Judgment and relationships stay human. Sc Moatti argues the last things AI will touch are judgment and relationships; everything else in the investment process can be automated.

AI-native, not AI-led. Mighty Capital will not let AI make investment decisions, at least not for a while, and will not have AI take meetings. Physical AI is a few years out for that — everything else is approached from AI-native principles.

The three-agent loop. The firm's model is a human in the loop, an executing agent doing the work, and a governing agent keeping it in check.

The 10-80-10 framework. Moatti compares this to the old executive assistant model: 10% you think exactly about what you want, 80% the executive assistant executes the work (drafting the email in your inbox), and the last 10% you edit and improve the draft yourself.

Why it maps to investing. Adopting an executor plus a governor preserves firm quality while scaling output — without a governor, firms face the alternative now visible in the market: agents running without oversight.

Read more: YouTube - How I Invest Podcast