Google, Nvidia, and OpenAI
OpenAI messed up their Rebels blowing up the Death Star moment.
OpenAI’s refusal to implement advertising after three years—while committing to over a trillion dollars in compute—represents a strategic failure that leaves the door open for Google
On Uber: AVs, Take Rates, and Fragmentation
A 20% AV take rate is actually more profitable than the current 30% human-driver rate, delivering ~65% more profit per ride ($3.90 vs $2.37) due to elimination of insurance liability and driver incentives.
The 1% Compounder: Lessons from Henry Ellenbogen
The Act 2 founders is a great lesson that I’ll keep I mind going forward.
Dan Ivascyn is Excited About a New Era in Fixed Income
It’s always good to check in with large bond managers to see how they are positioning themselves.