AI’s second-order impacts. “The second-order impacts of AI are the most interesting thing to invest in in 2026.” Isn’t it convenient when someone else does the pre-work for us? ~ learn more
The Frontier in 2025. This is great! “How did the world change this year? Which results are speculative? Which are biggest, if true? We collected and scored 202 results. Filter by field, our best guess of the probability that they […]
The world needs a better measure of manufacturing output than GDP. “the fundamental problem is that economics treats manufacturing as a flow (inputs, outputs, productivity per hour) when the strategic question is actually about stock. what capabilities exist? who holds […]
Google brings on the AI deflation. “Google’s latest model underprices the state of the art by 70% to 79%, with very similar levels of performance.” ~ learn more
What exactly is Production Capital? The term refers to “a wide and growing range of approaches for financing the emerging physical technologies aimed at transforming critical industries like energy, aerospace and defense, manufacturing, materials, and transportation.” This piece sketches a […]
Stripe research confirms money helps grow businesses. A nearly two-year randomized trial revealed that businesses accepting loans from Stripe Capital “grew annual revenue around 27% faster.” Patrick Collison emphasizes this highlights the persistent issue of capital scarcity for many businesses. […]
Is it a bubble? Here’s how Howard Marks of Oaktree Capital sees it. “Memories are short, and prudence and natural risk aversion are no match for the dream of getting rich on the back of a revolutionary technology that ‘everyone […]
Al Goldstein tells the Pangea Properties story. This comes from a fantastic entrepreneur who saw opportunity where everyone else saw risk. “In late 2008 (a full month after I officially left Enova), while banks were imploding, we started buying foreclosed […]
The $1B Al company training ChatGPT, Claude & Gemini. Surge AI, with fewer than 100 employees, “surpassed $1 billion in revenue last year, completely bootstrapped—the fastest company in history to reach this milestone.” This is an opinionated interview with Edwin […]
Hack reveals the phone farm flooding TikTok with Al influencers. “The hacker also shared a list with me of more than 400 TikTok accounts Doublespeed operates. Around 200 of those were actively promoting products on TikTok, mostly without disclosing the […]