The 11, Vol. 3: Loyalty. What remains when everything changes.
The 11 is a collection of limited-edition photobooks. Each volume explores a human quality at the heart of entrepreneurship, through a conversation between an entrepreneur and a photographer. No preset thesis. A word emerges from the dialogue. It becomes the thread of the book.
After Emergence and Resilience, this third volume takes on a quieter, more enduring virtue: loyalty. For this edition, we brought together Matthieu Picon, co-founder and CEO of Tageos, and Robin Hammond, photographer for National Geographic.
When Matthieu described loyalty as the defining principle of his entrepreneurial commitment, something clicked. His words were simple and direct: "Loyalty doesn't seek the spotlight. It's quiet. But when it guides your choices unconditionally, it builds something indestructible: trust."
I witnessed that loyalty firsthand. Newfund backed Tageos in 2012. Fourteen years later, we still sit around the same table with the three co-founders, as the company has established itself as a global leader in RFID. Through the highs, the lows, the hard moments, one thing never wavered: the fundamental honesty of our relationship. The deep conviction that the project transcended our own interests. That collaboration was essential, and that everyone accepted its consequences without complacency.
This hits close to home. At Newfund, trust has been my guiding principle from the start. The trust our investors place in us drives everything we do. The trust we place in entrepreneurs is what makes great things possible. That trust, simply because it exists, gives meaning to the work. It connects us to what is essential, beyond our own small interests.
That is what Robin's photographs convey. His archives come from devastated worlds. They show a raw, visceral loyalty, whether it is a deep connection to the land or a fierce defense of one's values. For him, loyalty is a force that "compels us to discard the periphery and focus on what truly matters."
There is also a striking symmetry between this human value and Tageos' core technology. By giving objects a digital identity, the company defines exactly what they are and where they come from. Identity is the foundation of loyalty: knowing who you are and what you stand for. That clarity is what allows a founder, and an investor, to stay the course through doubt and breakthrough alike.
Loyalty is available in a limited edition. Printed in risography by Éditions Bessard, each book features an integrated Tageos RFID chip: a unique digital signature serving as technological proof of trust and authenticity.
If you haven’t picked up the first two volumes yet (Emergence and Resilience), now is a good time to start. Stay tuned for Vol. 4, featuring a conversation between entrepreneur Tristan le Corre (Shotgun) and photographer Linda Zhengova.