The Wisdom Wall

“And this progress is in large part due to stablecoins, where borderlessness allows fintechs to set up infrastructure that works everywhere. Global by default financial services are for the first time a real possibility.”

“people, people are not capable of being sufficiently optimistic about a business that really works. They, it just, it blows through all their projections.”

“you talk to university students and often their ideas for companies are pretty half-baked. Yeah, it's find my friends. It's like a college textbook exchange app, you know, but you know, there's like the five apps or whatever. Whereas so frequently what happens is people go out and they build successful products in the…”

“I feel like investor updates with a lot of words and no metrics. Oh yeah, those are bad. Those are bad. And actually like, no investor updates is fine. Like you didn't have to send me. Yeah, yeah, exactly. Yeah, no with either very good or very bad. Yeah. Um, metrics is fine, but like, a lot of words in no metrics is…”

“What the startups were interested in were often better product experiences, and so if the startups want stable coins or usage-based billing or what have you, we should build for those needs, not just because we'll have a good startup business, but the enterprises will come around, and it took us, I would say, many…”

“You get way better outcomes with one-on-one tutoring focused on mastery learning, where you only progress through topics once the student has mastered the prior topic, and you kind of move your way sequentially through things. And schools almost definitionally can't do that.”

“One is where the regs are just bad, and the second is where the regulations are not standardized, where places where, you know, employment law is really annoyingly different across European countries, and so if you're a ten-person startup and you employ people across Europe, it's actually really cumbersome, whereas in…”

“as we add more functionality to it, just the right way to navigate this big product surface area is an AI that's read all the API docs for you.”

“it turns out there's a lot of switches in the dashboard. Yeah. You know, there's no API for, and we are all as an industry collectively discovering that.”

“But as with the early internet, the future success of agentic commerce is contingent on universal interoperability. Our ascent through those five levels we discussed depends on our ability to all work together.”

“Part of the reason this is an evergreen pitch is because companies don't actually have all their data at their fingertips. Companies do not eat their data infrastructure vegetables.”

“if you're serious about all these layers of the stack, you can't bind them all together because just like there's no way you're going to get that much. You know, if Microsoft is serious about the office suite, they're going to have it run on Mac and Windows because you're just not going to get a meaningful market share…”

“If you interpret Henry Kaiser, Howard Hughes, Elon Musk, they decide that their circle of competence is not rockets or roads or what have you, but is engineering, and that engineering competence can be broadly applied to many potential domains.”

“Often the, um, longest tenured institutions are universities and breweries.”