Notes on the year
A short note to close the year.
The family grew in January: Bourse joined, bringing the public record of companies, markets, and filings alongside Cairn’s places and Docket’s record of government. Relative is now three companies. Each ended the year covering more sources, holding fresher records, and serving more customers than it started with. We will leave the numbers to them.
The thesis we started with held up better than we expected. The largest reader of the public record is now software, and the gap between how the record is published and how software needs it keeps widening. Nothing we saw this year suggested otherwise. Most of what we saw suggested we are still early.
We also learned, again, the value of saying no. We looked seriously at more than a dozen platforms this year and acquired one. The bar is a team that treats correctness as the product, and it is a high bar. We intend to keep it there.
Next year we expect the family to grow again, at the same deliberate pace. Thank you to the teams at Cairn, Docket, and Bourse for a good year of quiet work.