Juan Orbea

Traditional tax principles treat many pooled smart contracts and decentralized autonomous organizations as entities. It’s hard to determine what kind of entities they are, who their equity holders are, and how they are supposed to pay taxes, file tax returns and information reports. This article examines the problems with treating smart contracts... See more

The world seems chaotic. But it’s not. Underlying all this apparent complexity is some wonderfully simple math. Follow the math to your destination. Understanding the primacy of networks will give you a superpower to see what others do not and navigate life’s big decisions more effectively.

Over the past few months, venture activity in nuclear has converged upon nuclear fusion. Nuclear fusion has been garnering a significant amount of attention—perhaps at the neglect of its older sibling, nuclear fission. While the technology and progress of nuclear fusion is astonishing, we think the future of nuclear fission holds equal potential to... See more

To appreciate the nature and significance of the coming “singularity,” it is important to ponder the nature of exponential growth. By the end of the first half of the chess board, the inventor had accumulated one large field’s worth (4 billion grains), and the emperor did start to take notice. Incidentally, with regard to the doublings of... See more

Most people who want to pursue a research career feel they need a degree to get taken seriously. But Chris not only doesn’t have a PhD, but doesn’t even have an undergraduate degree. After dropping out of university to help defend an acquaintance who was facing bogus criminal charges, Chris started independently working on machine learning... See more

Downloading the Human Brain

Performance Metrics

Total Value to Paid-In Capital (TVPI)

TVPI is a measure of both the realized and unrealized value of a fund as a proportion of the total paid-in, or contributed, capital. It is calculated by (total value) / (paid-in capital) where total value is (distributions + net asset value). A TVPI over 1.00x means an investment’s value

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