From satellites to cryo-em––resolution of CAPTURE is exponentially increasing thanks to new technologies we are aggressively funding...
6/ All of this matters because TECH that CAPTURES + SIMULATES reality (with a compute layer iterating between the two)
is now embodying the best theory I have found in cognitive science for consciousness: the Memory-Prediction Framework...
7/ Consider
if you see me a few days in a row
you visually SENSE and capture my shoes
you form a MEMORY recalling the image
and make a MODEL predicting if you see the shoes again > you infer you will see me.
But if you see someone different
you have surprise + update priors
8/ This is what any system from robotic surgery to autonomous vehicle does: capturing state of the world––especially dynamic/changes––makes prediction of next state + then either adjusts (and updates) its model OR adjusts (and updates) position to match ground-truth reality state
• • •
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1/ The eventual reversion + shift
from GROWTH to VALUE
will take a while––
but I see ONE key catalyst:
a series of AOL/TimeWarner-like deals.
where smaller (more highly valued growth stock currency) consumes larger (cheaper cash-generating value biz’s, deemed in decline)...
2/ It will post facto finally bring reward to VALUE investors––
(who are facing growing, classic, end-of-cycle claims of the death of their strategy; from fund shutdowns to questioning Buffet to Damodoran as apologist)
––NOT because market sees the value they do...
3/ But IN SPITE of it––
as the market will have created crazy HIGH valuations of bad businesses that will buy good businesses at crazy LOW valuations
That will 1. put VALUE back in vogue 2. create tremendous SHORT opps as the combos fail
(but are good for book publishers)...
1/ We’re pleased to unveil Lux’s NEWEST investment vehicle
Lux Health Tech Acquisition Corp
a $300M special purpose acquisition company
which begins publicly trading on the Nasdaq [LUXAU] this morning...
2/ We formed Lux Health Tech
for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses at the intersection of the healthcare and technology industries...
3/ In PLAIN SPEAK:
we believe the time is now to take public and build generational technology companies that will have a profound positive impact on healthcare.