Juan Orbea

Imagine being a product of this regimen, one of the kids who thrived in it, the sort who winds up at elite schools. All your life you have been pleasing your elders, performing and enjoying the hundreds of enrichment tasks that dominated your early years. You are a mentor magnet. You spent your formative years excelling in school, sports, and extra... See more

We believe that investors in any market need “edge” … knowing something (thesis) or somebody (access) better than almost any other investor. We also focus heavily on geographies.

I had a recent discussion with someone who argued that new senior leaders deliberately push for major changes even though they suspect the efforts will fail. If this is your approach to leadership, please know that you’re awful and take the time to work on yourself until the well-being and success of an entire company matters to you more than being... See more

Everything that has occurred in Silicon Valley in the last couple of decades also occurred in the 1850s. Anyone who thinks that wild-ass high tech venture capitalism is a late-20th-century California phenomenon needs to read about the maniacs who built the first transatlantic cable projects. The only things that have changed since then are that the... See more

I don't think of this as an affront to the idea that "no one can predict the future." It is, instead, a statement of belief. You're putting your capital and resources behind a future you believe in. Will Bezos' 2,300% internet growth be long-term? Or more volatile, like OpenSea's NFT volumes?

Again, this doesn't have to be a deep multi-year fundamental understanding of a market. This often comes from an appreciation of reality as it is . The internet is growing 2,300% and it seems to have legs. Building infrastructure is really hard, and we've gotten really good at it.

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

Portfolio construction is the careful calculus of a number of different decisions related to how a fund is run and the impact that each of those inputs have on each other . The major contributing factors to portfolio construction are: