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“We estimate somewhere between 80 and 90% of the institutional flow is basically driven either by the firms that have one month and three month agency or the quants that have to take these price signals into account, and then their models are optimized for this…”

“Think it probably is more impactful than the internet was. It's not only gonna affect obviously every technology company, which, you know, you see in the markets, but it's also Going to impact in this case, I think almost every company that, you know, needs wh…”

“And the cost on the existing use cases probably don't go down at three to five percent at this point in the curve because of the scale brought in, the human capital brought in, the IP bought on, and the fact that you're going to be able to use these general pu…”

“The philosophy we have today is predicated that over a rolling 10 year period, you have about 40 stocks that compound wealth of 20% a year or go up a little bit over six X. So about one percent of the stock market is the, are the valedictorians.”

“About 80% of those companies actually start their compounding journey. As small cap companies.”

“In the world of Positive real rates, which is the entire history of the US equity market, except for that short period of time, which I don't know if we will see again. There's on average about 40 compounders, and during the period of time of free money, there…”

“When you look at these compounders that were six X companies in 10 years, the 40 of them, the average one of them has a period of time where the stock goes down 50%, and it doesn't go down 50% only when the market is down 20. They go down 50% when they basical…”

“What was the best Russell, 2000 growth, or for your investors who don't know, benchmarks small cap company over that 10 year period in the 2010? Well, actually it was Domino's Pizza.”

“If you look at The last public market earnings season, which was companies reporting Q two this past year. If you study earnings volatility, It was more volatile than any earnings season since the financial crisis.”

“And since they basically, you know, got on the same curve, 62% of all retail has gone to those three.”

“The average loss-making company in 2022, in the Russell 2000 growth, went down over 70%.”

“There's basically over a dozen Fortune, 500 CEOs in the United States who basically started their jobs at Danaher, including the guy who just have turned around GE.”

“Amazon, they took that three to five percent cost advantage of getting that box to you and their ability to put more than one box, one item in the box. And they use that economic advantage to then go build Fulfillment centers that are physical to basically rei…”

“What Amazon was able to do is ride a cost curve where they were deflating the cost of Sending a box out at three to five percent a year for 20 straight years.”

“Basically for 20 years, cable networks grew 20% with 20 ROEs, so they were compounders, and that's how you had all these entrepreneurs that had become, you know, billionaires, and that's how you basically had media companies that really fought over a balance o…”