2023 Performance (examined and verified by an independent accounting firm): 170.13% (net of all fees)

Report available upon request for interested allocators

(dm open)

I was wrong with my number yesterday. Got the final number and the wire is complete. Wanted to be accurate.

Do I expect all of it to be used wisely. Of course not.

But I'm still proud to be able to give back to our country.

I've said it for years. After military…

There are financial fundamentals, then there are technology fundamentals

An investor must grasp *both* to succeed in the public markets in the next 3 decades

I pay what I owe.

Tomorrow I will wire transfer to the IRS

$288,000,000.00

This country has done so much for me, I’m proud to pay my taxes every single year.

Tag a former president that you know doesn’t

🚨 🚨 🚨 panic levels on this site presently about 3x what they should be.

Devin (named “the world’s first AI engineer” from the start) and looked to me it’s far more marketing and hype than reality.

But even I didn’t assume how their own staged video would blatantly lie. It does. A software engineer looked closer. Damning:

youtu.be/tNmgmwEtoWE?si…

'U.S. Steel shareholders approve $14.9 billion buyout by Nippon Steel' finance.yahoo.com/news/u-steel-s…
'over 98% of the votes were in favor of the deal'

🤣🙃

Saudi Arabia and the UAE both investing heavily in AI data centers

Sovereign AI is picking up steam in the Middle East. Liquid cooling to follow (air in the desert is not the same as air in Prineville, Oregon)
bloomberg.com/news/articles/…

Fact checking this pod episode some more, the term 'catfishing' is almost exclusively used in the context of fake online personas to dupe or scam people on social media, data apps, etc. Even in a business context, it's the same meaning applied to describe corporate scams

It is…

An interesting think tank report, sadly diminished by a misleading headline

Half of this 3.4B to BYD came in the form of purchase subsidies, i.e. incentives for consumers to buy EVs. The fact that BYD got the most just means people wanted BYD EVs the most.

Tesla was 2nd.

ByteDance profit surged 60% in 2023 per Bloomberg

EBITDA is $40+ billion. Secondary market trades ByteDance at ~$200 billion -- a mere 5x EBITDA

Who knew DC can be such a great source of alpha
bloomberg.com/news/articles/…

Who knew always sounding convincing but wrong can be such a great business model

Life of a professional opinion-haver I suppose

Some additional thoughts that further shows this NYT pod is sadly a hit piece on Tesla with a tropey China backdrop -- uninformative and misleading

1. if Tesla was the industrial 'catfish' China lured to boost itself, well, it almost killed BYD. When Tesla set up Shanghai…

This is an important observation that deserves more emphasis

Much of US-China tech competition narrative focuses on semis and genAI. Consensus view: China is behind but trying hard to catch up. On AI, Joe Tsai says 2 years, I've said 2-4 years, others said at least 1 year --…

It’s quite a leap to accuse/insinuate “China” of co-opting technology in a space that is led by Chinese players that are doing the execution.

It reflects the sad state of understanding in this country of how things these days are *physically produced.