Notes on startups, finance, technology, leadership and the lessons that come from building companies.https://nicolagiunchi.it/en-ushttps://nicolagiunchi.it/en/blog/dieci-esami-in-dieci-giorni/https://nicolagiunchi.it/en/blog/dieci-esami-in-dieci-giorni/June 2025: ten exams in ten days, from microeconomics to labour law, with three small children and the companies. The block plan, the pen, the AI, the stress.Thu, 24 Sep 2026 00:00:00 GMTuniversitàuniversityexam sessionstudying while workingstudy methodAIhttps://nicolagiunchi.it/en/blog/tre-anni-in-due-pianificare-gli-esami-all-indietro/https://nicolagiunchi.it/en/blog/tre-anni-in-due-pianificare-gli-esami-all-indietro/How I planned 180 credits in two years starting from the graduation date: hours per credit, a personal coefficient, a buffer exam and the marketing mistake.Wed, 23 Sep 2026 00:00:00 GMTuniversitàuniversityplanningcreditsstudying while workingstudy methodhttps://nicolagiunchi.it/en/blog/ai-tutor-che-interroga-non-studia-al-posto-tuo/https://nicolagiunchi.it/en/blog/ai-tutor-che-interroga-non-studia-al-posto-tuo/How I used AI to prepare for exams without shortcuts: the tutor's rules, a six-move loop, an error log, and the four mistakes the AI made.Tue, 22 Sep 2026 00:00:00 GMTuniversitàAIstudy methoduniversityClauderetrieval practicehttps://nicolagiunchi.it/en/blog/iscritto-a-41-anni-imparare-da-adulti/https://nicolagiunchi.it/en/blog/iscritto-a-41-anni-imparare-da-adulti/Enrolled at 41, working full time, three years of exams in two. The head start I had, the part you can copy, and why studying as an adult is a different trade.Mon, 21 Sep 2026 00:00:00 GMTuniversitàuniversitylearning as an adultsecond actstudy methodAIhttps://nicolagiunchi.it/en/blog/capannone-o-btp/https://nicolagiunchi.it/en/blog/capannone-o-btp/Of €42,000 in rent, €7,668 is left. Vacancy, property tax, works, closing costs and not being able to sell in a day: every hidden cost has a number. The full comparison against a 10-year Italian bond, everything net, as of 16 September 2026.Thu, 17 Sep 2026 00:00:00 GMTfinanzareal estatebondsinvestingreturnsdue diligencehttps://nicolagiunchi.it/en/blog/capitale-circolante-normalizzato/https://nicolagiunchi.it/en/blog/capitale-circolante-normalizzato/What net working capital is in a deal, how the peg is set, and why the cash a seller frees up in December comes back as a price adjustment. A worked example.Mon, 14 Sep 2026 00:00:00 GMTeconomiaworking capitalM&Abusiness valuationexitdue diligencehttps://nicolagiunchi.it/en/blog/pfn-perimetro-equity/https://nicolagiunchi.it/en/blog/pfn-perimetro-equity/What net debt is, how to calculate it under the ESMA schedule, what stays out and why. With the same EBITDA and multiple the perimeter moves 26% of the value. And what monthly net debt tells you if you are not selling.Thu, 10 Sep 2026 00:00:00 GMTeconomianet debtM&Abusiness valuationexitdue diligencehttps://nicolagiunchi.it/en/blog/esce-gpt-6-astra-e-fa-un-powerpoint/https://nicolagiunchi.it/en/blog/esce-gpt-6-astra-e-fa-un-powerpoint/The most capable model ever released, and the showcase use case is a deck consistent with your corporate template. I spent three years in a corporate watching meetings where the deck existed so nobody had to decide: the problem isn't making better PowerPoints.Fri, 04 Sep 2026 00:00:00 GMTtechAIGPT-6 AstraPowerPointmeetingsdecisionsfuture of workhttps://nicolagiunchi.it/en/blog/bolla-ai-uniamo-i-puntini/https://nicolagiunchi.it/en/blog/bolla-ai-uniamo-i-puntini/Nvidia guarantees 105 billion on OpenAI's campus. But the real risk is the 3 trillion off balance sheet that nobody has measured yet. Let's connect the dots.Wed, 19 Aug 2026 00:00:00 GMTfinanzaAIAI bubbleNvidiaAnthropicmarketsriskhttps://nicolagiunchi.it/en/blog/laurea-in-meno-di-due-anni-a-41-anni/https://nicolagiunchi.it/en/blog/laurea-in-meno-di-due-anni-a-41-anni/Enrolled at 41, degree in under two years as a non-attending student: how I used AI to study, never to cheat. And why university pays off more after 40.Wed, 08 Jul 2026 00:00:00 GMTuniversitàuniversityAIlearningsecond actmerithttps://nicolagiunchi.it/en/blog/sono-diventato-il-collo-di-bottiglia-della-mia-ai/https://nicolagiunchi.it/en/blog/sono-diventato-il-collo-di-bottiglia-della-mia-ai/For 25 years the bottlenecks were other people. With AI I do 90% of it myself, and the brake is me: the productivity paradox I wasn't expecting.Tue, 30 Jun 2026 00:00:00 GMTtechAIproductivityorchestrationentrepreneurshipmultitaskinghttps://nicolagiunchi.it/en/blog/ai-non-uccide-i-junior-uccide-la-rendita/https://nicolagiunchi.it/en/blog/ai-non-uccide-i-junior-uccide-la-rendita/Everyone says AI will erase young people from companies. I think the exact opposite: the ones who should be worried aren't those trying to get in, they're those already inside who have been living off their position for years.Mon, 29 Jun 2026 00:00:00 GMTleadershipAIworkjuniorsmeritfuture of workhttps://nicolagiunchi.it/en/blog/ai-software-in-casa-vs-50-saas/https://nicolagiunchi.it/en/blog/ai-software-in-casa-vs-50-saas/What I saw at WMF 2026, why 'AI wrappers' are the symptom and not the cure, and why the CEO of Microsoft thinks so too.Thu, 25 Jun 2026 00:00:00 GMTstartupAIstartupSaaSwrapperWMF 2026https://nicolagiunchi.it/en/blog/ai-agent-come-leggere-il-marketing/https://nicolagiunchi.it/en/blog/ai-agent-come-leggere-il-marketing/Self-improving, headline benchmarks and GitHub stars going vertical: how to tell real value from marketing in AI agents, starting with the Hermes case.Sat, 30 May 2026 00:00:00 GMTtechAIAI agentsClaude Codemarketingproductivityhttps://nicolagiunchi.it/en/blog/punti-di-forza-punto-cieco/https://nicolagiunchi.it/en/blog/punti-di-forza-punto-cieco/I ran a marathon and realised my mistake in the gym is the same one many entrepreneurs make: we train our strengths and neglect the fundamentals.Mon, 04 May 2026 00:00:00 GMTleadershipleadershiplongevitydisciplinefundamentalsentrepreneurshiphttps://nicolagiunchi.it/en/blog/i-bond-proteggono-davvero-il-portafoglio/https://nicolagiunchi.it/en/blog/i-bond-proteggono-davvero-il-portafoglio/Holding bonds doesn't mean you're protected in a crisis. The difference between government, credit and emerging-market bonds, explained with the numbers.Mon, 27 Apr 2026 00:00:00 GMTfinanzabondsportfolioriskdiversificationfinancehttps://nicolagiunchi.it/en/blog/benvenuto/https://nicolagiunchi.it/en/blog/benvenuto/After 20+ years of building companies, I decided to share what I learned. Not MBA theory, but lessons from the field, mistakes included.Thu, 02 Apr 2026 00:00:00 GMTstartupentrepreneurshipstartuplessonsblog