AkhenOsiris
The Generalist on Scaling Laws:
The AI community cannot resolve this holy war any time soon; there are no facts to be brought to this feelings fight. Instead, we should turn our attention to what it would mean for AI to question its devotion to scaling laws. A loss of faith could have cascading effects beyond LLMS, impacting all industries and markets.
It should be said that we haven't yet exhausted scaling laws in most areas of AI/ ML; there are more miracles to come. However, if doubt does creep in, it will become much harder for investors and builders alike to have similarly high conviction in the terminal state of performance for "earlier in the curve" categories like biotech and robotics. Put another way, if we see LLMS begin to slow down and stray from the anointed path, the belief systems of many founders and investors will collapse in adjacent areas.
Whether or not this is fair is a different question. open.substack.com/pub/thegen…
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The Generalist on Scaling Laws:
The AI community cannot resolve this holy war any time soon; there are no facts to be brought to this feelings fight. Instead, we should turn our attention to what it would mean for AI to question its devotion to scaling laws. A loss of faith could have cascading effects beyond LLMS, impacting all industries and markets.
It should be said that we haven't yet exhausted scaling laws in most areas of AI/ ML; there are more miracles to come. However, if doubt does creep in, it will become much harder for investors and builders alike to have similarly high conviction in the terminal state of performance for "earlier in the curve" categories like biotech and robotics. Put another way, if we see LLMS begin to slow down and stray from the anointed path, the belief systems of many founders and investors will collapse in adjacent areas.
Whether or not this is fair is a different question. open.substack.com/pub/thegen…
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Dimitry Nakhla | Babylon Capital®
What Dev Kantesaria of Valley Forge looks for when investing in stocks📚
“We are looking for companies that provide essential products & services that have a long history of pricing power, that have a dominant market position that we think is not subject to significant disruption.
We like to see a company operate in an industry whose volumes are going up significantly overtime. The companies that we invest in often have many different levels to win.”
#stocks #investing
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What Dev Kantesaria of Valley Forge looks for when investing in stocks📚
“We are looking for companies that provide essential products & services that have a long history of pricing power, that have a dominant market position that we think is not subject to significant disruption.
We like to see a company operate in an industry whose volumes are going up significantly overtime. The companies that we invest in often have many different levels to win.”
#stocks #investing
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Dimitry Nakhla | Babylon Capital®
$PEP trading near its lowest earnings multiple in the last 5 years🥤
#stocks #investing #dividends https://t.co/5620Onr3IZ
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$PEP trading near its lowest earnings multiple in the last 5 years🥤
#stocks #investing #dividends https://t.co/5620Onr3IZ
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Stock Analysis Compilation
Harding Loevner on Clicks Group $CLS SJ
Thesis: Clicks’s dominant market position and vertically integrated model set the stage for accelerated growth in South Africa’s underpenetrated pharmacy sector, with expanding market share and high ROE as key drivers
(Extract from their Q3 letter)
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Harding Loevner on Clicks Group $CLS SJ
Thesis: Clicks’s dominant market position and vertically integrated model set the stage for accelerated growth in South Africa’s underpenetrated pharmacy sector, with expanding market share and high ROE as key drivers
(Extract from their Q3 letter)
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Offshore
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Stock Analysis Compilation
Ennismore on Auto Trader $AUTO LN
Thesis: Auto Trader’s dominance in the UK market and its accelerating digital retail growth set it up for sustained double-digit revenue growth, making it a compelling play on the automotive classifieds sector
(Extract from their Q3 letter) https://t.co/bgFqfH2HDb
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Ennismore on Auto Trader $AUTO LN
Thesis: Auto Trader’s dominance in the UK market and its accelerating digital retail growth set it up for sustained double-digit revenue growth, making it a compelling play on the automotive classifieds sector
(Extract from their Q3 letter) https://t.co/bgFqfH2HDb
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Startup Archive
Steve Jobs: The difference between good people and great people in software is 50-to-1
“I’ve always considered part of my job was to keep the quality level of people in the organizations I work with very high. I mean that’s what I consider one of the few things I can contribute individually myself — versus the team that work with — is to really try to instill in the organization the goal of having only A players.”
Steve argues this is especially important in technology where there’s a huge range between the best person and the worst person:
“In a lot of fields, the difference between, say, the worst taxicab driver and the best taxicab driver to get you across town in Manhattan might be 2-to-1. The best one will get you there in 15 minutes, the worst one will get you there in half an hour… Or the best cook and the worst cook, maybe it’s 3-to-1… But in the field that I’m in. In software in particular. The difference between the best person and the worst person is about 100-to-1 or more.”
He continues:
“The difference between a good software person and a great software person is probably 50-to-1 or 25-to-1. Huge dynamic range. And therefore, I have found — and not just in software but in almost everything I’ve done — it really pays to go after the best people in the world.”
But as Steve points out, this isn’t always easy:
“It’s very painful when you have some people that are not the best people in the world, and you have to get rid of them. But I’ve found that my job has sometimes been exactly that, to get rid of some of the people that didn’t measure up. And I’ve always tried to do it in a humane way, but nonetheless it has to be done and it’s not ever fun.”
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Steve Jobs: The difference between good people and great people in software is 50-to-1
“I’ve always considered part of my job was to keep the quality level of people in the organizations I work with very high. I mean that’s what I consider one of the few things I can contribute individually myself — versus the team that work with — is to really try to instill in the organization the goal of having only A players.”
Steve argues this is especially important in technology where there’s a huge range between the best person and the worst person:
“In a lot of fields, the difference between, say, the worst taxicab driver and the best taxicab driver to get you across town in Manhattan might be 2-to-1. The best one will get you there in 15 minutes, the worst one will get you there in half an hour… Or the best cook and the worst cook, maybe it’s 3-to-1… But in the field that I’m in. In software in particular. The difference between the best person and the worst person is about 100-to-1 or more.”
He continues:
“The difference between a good software person and a great software person is probably 50-to-1 or 25-to-1. Huge dynamic range. And therefore, I have found — and not just in software but in almost everything I’ve done — it really pays to go after the best people in the world.”
But as Steve points out, this isn’t always easy:
“It’s very painful when you have some people that are not the best people in the world, and you have to get rid of them. But I’ve found that my job has sometimes been exactly that, to get rid of some of the people that didn’t measure up. And I’ve always tried to do it in a humane way, but nonetheless it has to be done and it’s not ever fun.”
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Investing visuals
Celsius $CELH is turning up the heat on giants like Red Bull and Monster $MNST. Yet, the stock is down nearly 75% since its May peak.
Here's everything you need to know about $CELH 👇 https://t.co/Vcy3SrGRvT
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Celsius $CELH is turning up the heat on giants like Red Bull and Monster $MNST. Yet, the stock is down nearly 75% since its May peak.
Here's everything you need to know about $CELH 👇 https://t.co/Vcy3SrGRvT
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Stock Analysis Compilation
Ennismore on Flutter Entertainment $FLTR LN
Thesis: Flutter’s dominant global position, strategic acquisitions, and booming US market potential position it for triple-digit earnings growth, making it a top pick in the online gambling sector.
(Extract from their Q3 letter) https://t.co/utTaBuhbUx
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Ennismore on Flutter Entertainment $FLTR LN
Thesis: Flutter’s dominant global position, strategic acquisitions, and booming US market potential position it for triple-digit earnings growth, making it a top pick in the online gambling sector.
(Extract from their Q3 letter) https://t.co/utTaBuhbUx
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Startup Archive
RT @foundertribune: How to be Elon Musk by @justinemusk https://t.co/k8f5RsZM3v
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RT @foundertribune: How to be Elon Musk by @justinemusk https://t.co/k8f5RsZM3v
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Startup Archive
Justine Musk on How to be Elon Musk:
"Be obsessed. If you're not obsessed, then stop what you're doing and find whatever does obsess you. It helps to have an ego, but you must be in service to something bigger if you are to inspire the people you need to help you (and make no mistake, you will need them)...
Don't pursue something because you 'want to be great'. Pursue something because it fascinates you, because the pursuit itself engages and compels you. Extreme people combine brilliance and talent with an insane work ethic, so if the work itself doesn't drive you, you will burn out or fall by the wayside or your extreme competitors will crush you and make you cry."
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Justine Musk on How to be Elon Musk:
"Be obsessed. If you're not obsessed, then stop what you're doing and find whatever does obsess you. It helps to have an ego, but you must be in service to something bigger if you are to inspire the people you need to help you (and make no mistake, you will need them)...
Don't pursue something because you 'want to be great'. Pursue something because it fascinates you, because the pursuit itself engages and compels you. Extreme people combine brilliance and talent with an insane work ethic, so if the work itself doesn't drive you, you will burn out or fall by the wayside or your extreme competitors will crush you and make you cry."
How to be Elon Musk by @justinemusk https://t.co/k8f5RsZM3v tweet