Incremental Insights #78
The best of what I read, listened to, and watched during the week
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.