The Wisdom Wall

“The reason Silicon Valley has been so successful is because it's so fucking far away from Washington, D.C.”

“They're spreading a negative open source, uh, uh, message, and I think it's precisely because they know it's their biggest threat, and I think what Meta's done with Llama II.”

“regulation is the friend of the incumbent.”

“The reason Silicon Valley's been so successful is because it's so fucking far away from Washington, D.C.”

“a vast majority of the reason venture outperforms other asset classes has to do with these tiny windows when you have a super probably market, and if you don't, if you aren't around for that part, you know, if you strip those years out of a forty-year assessment, it's actually not that interesting an asset class”

“I think if, if, if 50 entrepreneurs try that trick, 49 are gonna auger in.”

“I think where capitalism's broken is where the capture's the highest, right?”

“When you get to that place, sometimes going public is just the easiest way to clean it all up.”

“it doesn't happen like a sine curve, which is what we all imagine when we think of a cyclical business. It's more like a sawtooth. Risk, risk on is a very slow process, and it, and it's, it's reflexive, so it grows, and grows, and grows, and grows, and then risk off tends to be very abrupt”

“what I realized was that the, the IRR numbers and the ROI numbers on the venture capital category were heavily dependent on performance in the, in the hottest That's part of the cycle”

“regulation is the friend of the incumbent and it's the, it's the opposite of innovation. It locks in things and it's very resistant to change.”

“I think the best way to protect yourself from AI is to be the most AI enabled version of yourself you can be.”

“the way startups disrupt is they come in with lower feature products, but uh, a, a feature that really matters to the customer and a simpler product, and they move up.”