Juan Orbea

Often, companies are underestimated because people believe the market isn't large enough, and the execution will have risks (e.g. Crowdstrike). So how does that translate into the valuation I can pay today? If you have a fundamentally different belief about the size of the market then you believe that the company will be able to address more... See more

Melanie Perkins (CEO), Clifford Obrecht (COO), and Cameron Adams (CPO) founded Canva in 2012 in Perth, Australia. As a design instructor at the University of Western Australia in 2006, Melanie didn’t understand why design software required an entire semester to learn. She wanted anyone in the world to create beautiful designs, not just a few who... See more

In a dialogue with two psychiatrists (Jean-Michel Oughourlian and Guy Lefort), Girard probes an encyclopedic array of topics, ranging across the entire spectrum of anthropology, psychoanalysis, and cultural production.

One of the biggest challenges for nuclear fission is economic: New plants take years to build and cost billions of dollars. A number of factors contribute to nuclear fission’s economic challenges, which have only increased over the past few decades. In addition to the obvious capital costs, onerous regulations stretch out the development times for... See more

Bill and I have been frequently paired in a variety of venues as pessimist and optimist respectively. Recently a Noble Prize winning panelist dismissed Bill’s concerns, exclaiming that, “we’re not going to see self-replicating nanoengineered entities for a hundred years.” I pointed out that 100 years was indeed a reasonable estimate of the amount... See more

Is the human brain different from a computer?The answer depends on what we mean by the word “computer.” Certainly the brain uses very different methods from conventional contemporary computers. Most computers today are all digital and perform one (or perhaps a few) computations at a time at extremely high speed. With regard to digital versus analog... See more

Should SaaS companies trade at a 24x Enterprise Value (EV) to Next Twelve Month (NTM) Revenue multiple as they did in November 2021? Probably not and we think 10x (May 2022) seems more in line with the historical trend.