Starting to collect important questions for 2021 and beyond in this thread.
Please send questions you are interested in too!
1. Will demand for compute continue to double every few months? Tons of implications for semiconductor design and manufacture. mule.substack.com/p/gpt-3-and-th…
2. What will be the next major use of mRNA vaccines? What will our new understanding of protein folding lead to?
3. How will better data and workflows improve our health care system (prediction, prevention, price of care, outcomes, compliance)?
4. Will we fully unbundle undergrad and graduate school into the information/learning component (which should be a fraction the cost for multiples the quality) and the networking component?
5. Digital art creation and collection make sense to me, but how will digital art be displayed?
6. What are the primary implications of Jensen Huang’s idea that “the data center is the computer”? What will serverless building unlock?
7. Will we see a challenger app platform to iOS and google play?
8. What percent reversal will we see to in-office work and business related travel?
(we are likely almost all remote and plan work travel to be down >75%)
9. Will a city emerge, built and organized by a single company, that fully blends work and life?
10. Will we see a major shift if methods like direct air capture to actually reverse carbon load in atmosphere?
11. What will the demand look like for starship payload placement? How much of the market can/will starlink serve?
12. What will drive per capita GDP growth in frontier/developing markets? I’m excited to watch India, Africa, Latin America break out and take advantage of brain power, demographics, remote work etc.
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1/ GameStop is one of the most fun businesses to study for both its success and failure.
Relative to other specialty retailers, it dominated up until the financial crisis, but has since done very poorly.
But unlike Tower Records or Blockbuster, it is still in business
2/ Thanks to the tailwind gaming has provided, its revenues have grown long-term but EBITDA and margins have been terrible as the gaming world has digitized over the past 5 years.
3/ As I learned in @joosterizer book One Up, their early physical retail edge rested on counterpositioning: doing things Walmart and others couldn't:
1. Accessibility 2. Deeply trained expert staff 3. Tailored loyalty program 4. Custom inventory management for used game sales
For the last year at @OSAMResearch, we’ve been building.
Excited to share this new post that shares the lessons we've learned. We now believe the future of asset management will be defined by a new category: "custom indexing."
@OSAMResearch When we launched Canvas (canvas.osam.com), we followed the advice of @chetanp to find a small, great set of partners and then stop taking new ones for a long time.
A year ago we did so, partnering with 9 RIA firms, and building out the platform based on their needs...
🚨 a new job that’s a huge opportunity for someone early in their career looking to skip a few steps forward.
The role is a business operations lead for the podcast company. The team has been building behind the scenes and they need help. Here’s the link: coda.io/d/Business-Ope…
Our mission is to capture and share the world’s best knowledge on business and investing.
This means our product itself is a business and investing education that we believe will far surpass even the best graduate degree.
You’ll be working for @DBrychcy, who is the CEO. A bit of history on him below, because he’s effectively hiring for a role that he was once hired into...
1/ The most influential video I've ever seen remains "inventing on principle," by @worrydream.
A well formed principle guides action through time. Here's Brett's principle attached.
I realized today this is why I'm so interested in Unreal Engine 5.
@worrydream 2/ His specific principle (more on finding your own principle shortly) has given me a new lens to see the world: does this enable human creativity?
Unreal Engine 5 will empower creators in fascinating ways. I love any technology that does so. Look at this image:
@worrydream 3/ First, watch Brett's video starting at [2:34] to see what he means by immediate connection to one's creation.
Then watch this incredible video (h/t @eldsjal) on making The Mandalorian using Unreal Engine (I've linked to the moment of the video I mean)
@CliffordAsness Forgetting all data and backtests, I think we must also consider the basics of equity returns:
1. fundamental company growth 2. multiple expansion/contraction 3. return of capital
Historically value has earned its excess return through #2 and a bit of #3
@CliffordAsness #2 only happens if there is real fundamental recovery--the multiple expansion happens in anticipation of real business growth. So it is fair to ask if its different this time and we simply won't see a recovery of value businesses while Microsoft and friends continue to dominate.