Thought provoking

We couldn’t wrap our heads around air mattresses on the living room floors as the next hotel room and did not chase the deal. Others saw the amazing team that we saw, funded them, and the rest is history... We made the classic mistake that all investors make. We focused too much on what they were doing at the time and not enough on what they could ... See more

Said differently, we try to measure what we value.

But we inevitably end up valuing what we measure.

But the more and better access everyone has to tools, the clearer it becomes that the final bottleneck to great work is not knowledge or information. Heck it’s not even intelligence—it’s that elusive, intangible, sublime quality—call it taste, imagination, creativity, courage, judgment, intuition, agency.

Because if you strip LLMs to their essence, they are just a much better way of using statistics to aggregate human intelligence and connect everything we’ve all done together to get more use out of it.

"I know now that I'm onto something good when everyone else thinks it’s a bad idea,” he said. “I just didn't figure that out until later."

This search led me to Mortimer Adler , a philosopher and educator best known for his work on the Great Books movement, a project aimed at defining the essential works of Western civilization. In 1940, Adler published How to Read a Book, a guide to deeper reading that has remained influential for decades. His argument was simple: Most people read pa... See more

A new era of quant experimentation

In trading, the objective is to place a series of trades to increase the value of a portfolio. This starts with market research. We use indicators—such as company fundamentals, volatility, and momentum—to deepen our understanding. As we learn about the market, we start to identify patterns and develop hypotheses a... See more