Juan Orbea

Our conclusion was that this isn’t a temporary blip that will swiftly trend-back up in a V-shaped recovery of valuations but rather represented a new normal on how the market will price these companies somewhat permanently. We drew this conclusion after a meeting we had with Morgan Stanley where they showed us historical 15 & 20 year valuation... See more

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

An organization is some sort of association of individuals for common ends or who interact with one another in a patterned way.  For those who have studied corporate law, we know associations are of two main types: unincorporated and incorporated. 

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

However, “autonomous” does not mean “automatic” and, even if it did, smart contracts are not automatic. Smart contracts also obviously are not autonomous because they are unconscious and inert, not spontaneous and self-controlled.