1/ Chronic kidney disease (CKD) is one of the most prevalent medical conditions, affecting more than 1 in 7 U.S. adults (as well as my late father). We spend up to $500B/yr to treat CKD with drugs and dialysis, which may incrementally slow down the disease but not reverse it
2/ Today we partnered with ProKidney, which is changing how we treat CKD. Their clinical data shows its treatment can not only significantly slow the onset of CKD compared to existing therapies, but even REVERSE the loss of kidney function, a first for CKD patients
3/ By taking ProKidney public, they will have the capital to continue Phase 3 clinical trials which have already commenced this month. We are excited to work with a company that has the opportunity to change how millions of people worldwide cope with this terrible disease
4/ Our investment thesis in ProKidney attached.

Disclaimer: bit.ly/dnac-info

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More from @chamath

Oct 8, 2021
1/ $CLOV - upgraded MA PPO rating of 3.5 Stars (vs prior 3.0 Stars) - Proud of the @CloverHealth team and excited to see what the future holds 💪
2/ Shows CLOVs ability to execute and validates their wide-open network approach to access a larger TAM compared with narrow-network plans offered by competitors
3/ Around 50% of $CLOV's membership who self-identify are those of minority background vs only 34% average for the industry
Read 4 tweets
Jul 11, 2021
1/ People misunderstand space and its implications. Since the Apollo project, focusing on space has allowed engineers and scientists to push the boundaries of the possible.
2/ Those advances would then find their way into our day to day lives - because when things are engineered for microscopic tolerances in space, they enable seemingly magical things on earth.
3/ We are now on the verge of a global expansion of space - from pervasive internet connectivity and interplanetary travel to space tourism.
Read 6 tweets
Jun 11, 2021
We wrapped up our climate change competition and are pleased to announce our winners.
-1k+ applications
-180 were excellent
-35+ teams interviewed
-8 proposals stood out as particularly innovative

So we have 8 winning teams vs 3 as planned, and each will receive a $25k award.
I want to also recognize our semifinalists for their excellent proposals: @Bill_Gross, @ckalra, Caitie Reck, @vcinsd, @atmanpandya, @IPO201, and @Olya_Irzak.
Read 4 tweets
Apr 8, 2021
The biggest risk/correlation to equity markets over the next decade has nothing to do with interest rates.

It will be carbon tariffs and it will blow up every DCF model of every company in the public markets...
Imagine a new trade war between the US and China. Or imagine an increasingly aggressive European Union fighting climate change.

The simplest solution to enact both would be a carbon tariff.
A carbon tariff would require every company to have a detailed provenance of the energy used to produce a good or service entering a border.

Love that iPhone case? It's price will depend on how much coal was burned in China to make it. More coal == more tariff == more cost.
Read 4 tweets
Apr 6, 2021
I’m not an investor in @coinbase. I totally missed it. That said, I also got really lucky because many years earlier, I invested as an LP with an investor who owns a large stake.

What did I get wrong?
What did he get right?
They were investors in BTC with me but I didn’t get his incremental decision. I remember them talking to me about it and I was skeptical. My logic was that there was better convexity in Bitcoin itself.

“Why own the exchange when you can own the currency itself?”
As it turned out, there was an important secret hiding in plain sight:

Bitcoin was the first asset where you could own the protocol AND the companies built on top of it.

This unique feature is still poorly understood in crypto-land.
Read 5 tweets
Mar 29, 2021
A quick recap of what's happened since early March highs in tech markets:

1. Fears of inflation have driven many institutional investors to the hills. They are unwinding trades that have worked for DECADES.
2. Factor rotation out of tech and into more defensive/cyclical stocks that tend to do better during times of inflation.

3. Commodities have spiked which tend to do better during inflation

4. Bonds have puked as yields have risen as they forecast inflation.
5. $1.9T stimulus bill; potential for $3T infrastructure bill and another several trillion stimulus bill in the offing will give inflation fears more juice.

6. Pensions and others are going through a big rebalancing through Q1 which isn't done.
Read 5 tweets

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