"Not Even Wrong" Podcast
Investing in fundamentally new concepts and engineering practices with large impact.
Why do some companies succeed with difficult engineering projects, such as Tesla? Why do some fail, such as Google X with Loon and others? The answer lies in the mechanics of progress. It's the combination of creativity with Popperian criticism or constant iteration. The lack of self criticism impedes progress.
Taxing wealth is like taking out the soul of the American Dream. Longterm wealth creation is what this country was built on. President Biden must not impede this mission with short term thinking.Please do the right thing.
Some market participants are blaming the Fed for missing out on the market rally. Too much risk appetite due to high liquidity in the markt. This is precisely what the Fed wanted. Blaming the Fed is pointing at "Them" instead of taking responsibility for own strategy. We focus on fundamental prospects of portfolio companies.
How should a hedge fund be paid? Take a percentage of profits. The concept of carry goes way back to the whaling industry and works because it allows for skin in the game. This conversation goes much further as it relates to the alignment problem.
The mechanics of wealth generation. Creative solutions to new problems coupled with Popperian criticism. Replace concepts and engineering practices with better ones. The same applies to science and society at large. This is one of the key principles we derive from "The Beginning of Infinity".
Discussing the book "Ask your Developer" by Jeff Lawson, CEO and founder of Twillio. Software is big business because the supply chain of software is built out. Developers are work horses of the software economy. Focus on them and you have better success. How is Tesla doing with their developer focus?
Why philosophy of investing matters. It's because you need to answer the question, "what should I do next". In our case we focus on new concepts and engineering practices. Best place to start is with academia. Another interesting idea is that the value of resources is a function of knowledge. You can analyze the value of companies by the type of resources they are using.
Intel appoints new CEO Pat Gelsinger. We like the replacement of Bob Swan, but we don't like the choice of the board. Gelsinger is an acronym CEO and lacks clarity and direction. VMW has done worse than INTC in the past 2 years, so how will he be the person for the turnaround? INTC is stuck in inertia and denial.
An interview with Paul Dabrowski, CEO of Synthego on why Crispr technology is poised for a productive future and what the implications are for healthcare, pharmaceuticals and medicine. Key is the merger of software engineering with life sciences.
Why do we accept clients. Other than commercial reasons, the main argument for customers is to retain sharpness, accountability and focus.
Our two contrarian calls for 2021. 1/2 US is going to have moderate inflation in coming 5-8 years. 2/2 China is not nearly as far advanced in AI as many in the West think. Implications for Tesla and Chinese competition. Tesla is far ahead in AI.
What happens when a key employee leaves the company. In short, nothing. It's even a good sign, since a fast growing disruptor should be adjusting the talent base frequently. The challenge is to balance agility with stability. Example Editas, CSO leaving.