Offshore
Photo
Stock Analysis Compilation
Middle Coast Investing on DMC Global $BOOM US
Thesis: DMC is in a special situation with a potential buyout offer, and its diversified industrial units make it a compelling opportunity, especially if management focuses on Arcadia division
(Extract from their Q3 letter) https://t.co/Ndt8hsUVap
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Middle Coast Investing on DMC Global $BOOM US
Thesis: DMC is in a special situation with a potential buyout offer, and its diversified industrial units make it a compelling opportunity, especially if management focuses on Arcadia division
(Extract from their Q3 letter) https://t.co/Ndt8hsUVap
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Video
Startup Archive
Sam Altman and John Collison explain that every startup goes through "the dark times"
Even though Open AI was recently valued at $157 billion, the journey to this point wasn’t as smooth as you might think.
As Sam Altman puts it:
“No one is as honest about how bad the early days are as they should be because it’s so embarrassing in retrospect.”
He talks through just how unpromising everything looked in the early days:
“We were this extremely ragtag group of people. We were mocked by everyone serious in the field. And we didn’t have working technical progress. We had some little things that kind of worked, but it was deeply unclear how we were going to make AGI, and we were unbelievably outgunned by Deep Mind at the time. A lot of people were like ‘why are you doing this? Deep Mind is untouchable.’… so yeah, it was pretty hard but we just kept putting one foot in front of the other. We were constantly not able to find enough money or compute or people. But you just keep going and eventually something works.”
Stripe cofounder John Collison reiterates this:
“Every company that is going to get to some scale definitely goes through a period of the dark times. If I think back to Stripe’s dark times, there was this point just after launch where the endorphins had worn off, and we had a bunch of early people leave all at once. It was very draining. You know, you lose some of your own confidence.”
What kept the Stripe founders going—besides having an idea that they were really excited about—was momentum from serving customers. When you have customers using your product, you kind of have no choice but to continue serving them.
Sam echoes this point:
“Once you have customers that you have to serve, they really pull it out of you.”
Open AI didn’t have customers and was more focused on foundational research, but to keep their sanity, they tried to set up external touch points that faked the equivalent of having customer feedback.
Video source: @stripe (2023)
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Sam Altman and John Collison explain that every startup goes through "the dark times"
Even though Open AI was recently valued at $157 billion, the journey to this point wasn’t as smooth as you might think.
As Sam Altman puts it:
“No one is as honest about how bad the early days are as they should be because it’s so embarrassing in retrospect.”
He talks through just how unpromising everything looked in the early days:
“We were this extremely ragtag group of people. We were mocked by everyone serious in the field. And we didn’t have working technical progress. We had some little things that kind of worked, but it was deeply unclear how we were going to make AGI, and we were unbelievably outgunned by Deep Mind at the time. A lot of people were like ‘why are you doing this? Deep Mind is untouchable.’… so yeah, it was pretty hard but we just kept putting one foot in front of the other. We were constantly not able to find enough money or compute or people. But you just keep going and eventually something works.”
Stripe cofounder John Collison reiterates this:
“Every company that is going to get to some scale definitely goes through a period of the dark times. If I think back to Stripe’s dark times, there was this point just after launch where the endorphins had worn off, and we had a bunch of early people leave all at once. It was very draining. You know, you lose some of your own confidence.”
What kept the Stripe founders going—besides having an idea that they were really excited about—was momentum from serving customers. When you have customers using your product, you kind of have no choice but to continue serving them.
Sam echoes this point:
“Once you have customers that you have to serve, they really pull it out of you.”
Open AI didn’t have customers and was more focused on foundational research, but to keep their sanity, they tried to set up external touch points that faked the equivalent of having customer feedback.
Video source: @stripe (2023)
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Stock Analysis Compilation
Donville Kent on Enterprise Group $E CN
Thesis: Enterprise Group’s Evolution Power Projects division, with 50% IRRs and exclusive technology, positions the company for significant growth and profitability in the energy and mining sectors.
(Extract from their Q3 letter) https://t.co/3GoX4erBvW
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Donville Kent on Enterprise Group $E CN
Thesis: Enterprise Group’s Evolution Power Projects division, with 50% IRRs and exclusive technology, positions the company for significant growth and profitability in the energy and mining sectors.
(Extract from their Q3 letter) https://t.co/3GoX4erBvW
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Value Spotlight (Andrew Sather)
Pitching the stock that is the #1 biggest position in my portfolio tomorrow morning at the Starting 5 Conference. @GeoInvesting
You can find the link through this Substack: https://t.co/IPFVxGiVdj https://t.co/Vk5zr689l2
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Pitching the stock that is the #1 biggest position in my portfolio tomorrow morning at the Starting 5 Conference. @GeoInvesting
You can find the link through this Substack: https://t.co/IPFVxGiVdj https://t.co/Vk5zr689l2
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AkhenOsiris
RT @SaaSletter: 🤔 Quick take: With @theinformation "OpenAI Shifts Strategy as Rate of ‘GPT’ AI Improvements Slows" (h/t @steph_palazzolo) receiving a *lot* of attention this weekend ->
The early returns on AI ROI, *suggest* that *current* models are *sufficient* to justify the levels of AI enthusiasm in a *B2B* context.
See studies from @ICONIQGrowth, Morgan Stanley, ETR, Bain - see attachment.
Beyond ROI, I would note that some of the factors noted in The Information article (like a data wall) do not necessarily map to B2B use cases (i.e. corporations have stores of data to use that are not available to rate of progress for ChatGPT style models). Further, the quality improvements in open source models is a *very* positive development for long-term viability of AI in B2B settings.
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RT @SaaSletter: 🤔 Quick take: With @theinformation "OpenAI Shifts Strategy as Rate of ‘GPT’ AI Improvements Slows" (h/t @steph_palazzolo) receiving a *lot* of attention this weekend ->
The early returns on AI ROI, *suggest* that *current* models are *sufficient* to justify the levels of AI enthusiasm in a *B2B* context.
See studies from @ICONIQGrowth, Morgan Stanley, ETR, Bain - see attachment.
Beyond ROI, I would note that some of the factors noted in The Information article (like a data wall) do not necessarily map to B2B use cases (i.e. corporations have stores of data to use that are not available to rate of progress for ChatGPT style models). Further, the quality improvements in open source models is a *very* positive development for long-term viability of AI in B2B settings.
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AkhenOsiris
RT @heartbreakout: Does the gap between $nvda and $amd shrink as we move from training to more inference? I’ve heard differing opinions. Anyone have a view?
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RT @heartbreakout: Does the gap between $nvda and $amd shrink as we move from training to more inference? I’ve heard differing opinions. Anyone have a view?
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Offshore
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Stock Analysis Compilation
White Brook Capital on Wayfair $W US
Thesis: Wayfair is well-positioned to capitalize on a housing recovery and is expected to thrive even in the face of potential tariffs, with strong free cash flow generation ahead
(Extract from their Q3 letter) https://t.co/atuIC0sSXh
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White Brook Capital on Wayfair $W US
Thesis: Wayfair is well-positioned to capitalize on a housing recovery and is expected to thrive even in the face of potential tariffs, with strong free cash flow generation ahead
(Extract from their Q3 letter) https://t.co/atuIC0sSXh
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