It’s very obvious that when it comes to writing, all that matters is whether the words are useful or enjoyable to read. Most of this will be the result of a tight AI/Human hybrid workflow, though much will be all AI. The anxiety around authorial provenance is all pearl clutching

lovely conversation & worth your time. why it’s interesting to me is that a lot of jeremy’s ideas can be reduced to basic economics. e.g. why is the billionaire class potentially suddenly subservient to the poaster class? & why the hell would a dumb poaster inherit the priesthood? simple, cuz you can’t buy the damn position. there is no clean market for it. & more importantly the moment there is a transaction, everyone can see what happened. the poaster who joins the big lab is now inside the cap table, inside the hierarchy if you will, & ultimately inside the billionaire’s cathedral (there are many examples). trusted voices are scarce here, so their value continuously compounds. more good posts, more followers, more prominence, more social capital, & so on. if the dollar is a commodity, the post is the exact opposite. someone besides elon will eventually figure out how to become both billionaire & poaster, that kinda feels inevitable at this point.

My second conversation with @jeremygiffon. His first episode became one of the most popular we've ever done. Since then he's become a friend I talk to every day, so this is a taste of one of those conversations. We discuss: - The billion dollar PDF - Why billionaires have become subservient to the "poaster" class - The philosophers who secretly shaped Silicon Valley - Lessons from the last 18 months in private markets - East v. West coast finance - Buffett + beating the market - and much more Enjoy! 0:00 Intro 5:50 The Billion Dollar PDF 11:31 Algorithms and Power Laws 20:28 Peak Guy 31:19 Opting Out of the Timeline 36:14 AI and White-Collar Jobs 43:31 The Next Era of Finance 53:56 The New Economics of Software 1:03:22 Underwriting Emerging Managers 1:18:17 Silicon Valley’s Hidden Philosophy

I know you've all been waiting for a long time, but it's finally here: Jeremy Giffon Simulator is now in public beta. For the first time ever, you can play through @jeremygiffon 's entire podcast interview with @patrick_oshag on Invest Like the Best.

I love these sorts of posts because I had always hoped as a younger man that I could find some secret, shared trait common amongst the world's most wealthy but the only thing I found that came close in reality was prodigious Diet Coke consumption.

This is good capital allocation, but it requires permanent capital. People don't actually want best returns. They want to feel clever and do some like weird little thing that makes them feel interesting or different or something. But sometimes you just got to do the obvious thing and just be really strong on it. I always admire those managers who have been paid 2 and 20 for like 40 years to just own Berkshire. It's awesome because they were right, and they were providing a service. The service is that the LP does not have the personal confidence to own Berkshire on their own. So they actually need to pay a huge premium for someone else to give them the confidence to own Berkshire. It's just a tax that they pay for not having the conviction to do it themselves. And I think that's great and solves a real problem for a lot of people.

Posting is the end state, it's the treasure that awaited Alexander at the end of his conquest. It's all that's left for man after gaining the world. It's all there is at the very end of it all. Celebrities, billionaires, industrialists, scholars, all wind up as the humble poster