Private markets are entering a moment where the macro is tightly linked but investment outcomes are increasingly scattered. HarbourVest's Scott Voss goes Inside the ICE House to unpack "idiosynchronicity," the theme driving the firm's 2026 mid-year outlook. He explores how AI has become an asset class of its own and why the IPO window is open but highly selective. Voss also examines the blurring line between public and private markets and why operational improvement is replacing financial engineering as the key source of alpha. He closes with his "$100 trillion question" on who writes the rules for the ocean floor, AI, and space.

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