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← Most investments are really speculations, because only a handful of…
17 connected korrents · 15 moments on record from 20 Feb 2024 to 7 Sept 2026.
Everything filed under startups
startups
Everything filed under tariffs
tariffs
Everything filed under venture capital
venture capital
Everything filed under market efficiency
market efficiency Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Most investments are really speculations, because only a handful of businesses can be predicted with any confidence. Most investments are really speculations, because only a handful of businesses can be predicted with any confidence. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: An investor who never borrows against their securities can afford to think, because no fall in price can force them to sell. — tap to centre the map on it An investor who never borrows against their securities can afford to think, because no fall in price can force them… Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: Great ideas are not all taken: many multi-billion-dollar businesses were buildable years earlier and nobody built them for no reason other than that nobody did. — tap to centre the map on it Great ideas are not all taken: many multi-billion-dollar businesses were buildable years earlier and nobody built… Last stated a month ago
28 Jul 2026
BS
Blake Scholl — holds since 2026-07-28 — tap for who they are
Same subject: AI companies will not fix their own security without outside pressure, because they bear the cost of investing and everyone else bears the cost of their not investing. — tap to centre the map on it AI companies will not fix their own security without outside pressure, because they bear the cost of investing and… Last stated 2 years ago
10 Jan 2025
MB
Miles Brundage — holds since 2025-01-10 — tap for who they are
Same subject: Most active investors are not hunting for information; they are betting on mean reversion in data everyone already has. — tap to centre the map on it Most active investors are not hunting for information; they are betting on mean reversion in data everyone already has. Last stated 3 months ago
18 Jun 2026
AD
Aswath Damodaran — holds since 2026-06-18 — tap for who they are
Same subject: A founder who takes their bearings from what everyone around them is saying will end up nowhere; you have to build your own compass for what the future looks like. — tap to centre the map on it A founder who takes their bearings from what everyone around them is saying will end up nowhere; you have to build… Last stated a month ago
29 Jul 2026
AW
Alexandr Wang — holds since 2026-07-29 — tap for who they are
Same subject: Uncertainty about how long a tariff will last, not the rate itself, is what stops anyone from building a factory. — tap to centre the map on it Uncertainty about how long a tariff will last, not the rate itself, is what stops anyone from building a factory. Last stated a year ago
6 Apr 2025
MH
Molson Hart — holds since 2025-04-06 — tap for who they are
Same subject: Startup opportunities are not fleeting; Silicon Valley has reliably had a surfeit of them for decades. — tap to centre the map on it Startup opportunities are not fleeting; Silicon Valley has reliably had a surfeit of them for decades. Last stated a month ago
31 Jul 2026
PC
Patrick Collison — holds since 2026-07-31 — tap for who they are
Same subject: Even the most advanced AI cannot be followed blindly in investing, where value added is zero-sum and what is widely known is therefore worth little. — tap to centre the map on it Even the most advanced AI cannot be followed blindly in investing, where value added is zero-sum and what is widely… Last stated 3 months ago
10 Jun 2026
RD
Ray Dalio — holds since 2026-06-10 — tap for who they are
Same subject: A belief nobody else shares is a warning, and a belief everybody shares is also a warning; the right number of people who agree with you is small but not zero. — tap to centre the map on it A belief nobody else shares is a warning, and a belief everybody shares is also a warning; the right number of… Last stated a month ago
28 Jul 2026
SA
Sam Altman — holds since 2026-07-28 — tap for who they are
Same subject: A founder cannot delegate judgment: the chief executive has to make the decision that makes sense to them, however much momentum the alternative has. — tap to centre the map on it A founder cannot delegate judgment: the chief executive has to make the decision that makes sense to them, however… Last stated a month ago
7 Aug 2026
MH
Max Hodak — holds since 2026-08-07 — tap for who they are
Same subject: A founder needs ambition rather than a sense of duty, because a startup is grueling enough that dutifulness will not carry anyone through it. — tap to centre the map on it A founder needs ambition rather than a sense of duty, because a startup is grueling enough that dutifulness will… Last stated 4 days ago
3 Sept 2026
PG
Paul Graham — holds since 2026-09-03 — tap for who they are
Same subject: A country's large trade deficit in manufactured goods reduces its manufacturing employment below what it would be with balanced trade. — tap to centre the map on it A country's large trade deficit in manufactured goods reduces its manufacturing employment below what it would… Last stated today
7 Sept 2026
PK
Paul Krugman — holds since 2026-09-07 — tap for who they are
Same subject: Cutting off trade with tariffs would force a huge interest-rate spike and probably a debt crisis, because the budget deficit would have to be financed at home. — tap to centre the map on it Cutting off trade with tariffs would force a huge interest-rate spike and probably a debt crisis… Last stated a year ago
14 Apr 2025
JC
John H. Cochrane — holds since 2025-04-14 — tap for who they are
Same subject: Rebuilding American manufacturing is a decades-long educational and cultural project, not something tariffs can do. — tap to centre the map on it Rebuilding American manufacturing is a decades-long educational and cultural project, not… Last stated 8 months ago
25 Dec 2025
MH
Molson Hart — holds since 2025-12-25 — tap for who they are
Same subject: A company that grows enough eventually has no need for investors. — tap to centre the map on it A company that grows enough eventually has no need for investors. Last stated 6 days ago
1 Sept 2026
PG
Paul Graham — holds since 2026-09-01 — tap for who they are
Same subject: About 5% is the most common final ownership stake for the founder of a VC-funded startup that works out. — tap to centre the map on it About 5% is the most common final ownership stake for the founder of a VC-funded startup that works out. Last stated 2 months ago
18 Jul 2026
PL
Pieter Levels — holds since 2026-07-18 — tap for who they are
Same subject: AI factories and foundries are too capital-intensive for venture money; they need government or sovereign funds behind them. — tap to centre the map on it AI factories and foundries are too capital-intensive for venture money; they need government or sovereign funds… Last stated 3 months ago
18 Jun 2026
LT
Lip-Bu Tan — holds since 2026-06-18 — tap for who they are
At the centre
Most investments are really speculations, because only a handful of businesses can be predicted with any confidence.
Holds BA Bill AckmanRead this korrent →
An investor who never borrows against their securities can afford to think, because no fall in price can force them to sell.
Holds BA Bill Ackman
Great ideas are not all taken: many multi-billion-dollar businesses were buildable years earlier and nobody built them for no reason other than that nobody did.
Holds BS Blake Scholl
AI companies will not fix their own security without outside pressure, because they bear the cost of investing and everyone else bears the cost of their not investing.
Holds MB Miles Brundage
Most active investors are not hunting for information; they are betting on mean reversion in data everyone already has.
Holds AD Aswath Damodaran
A founder who takes their bearings from what everyone around them is saying will end up nowhere; you have to build your own compass for what the future looks like.
Holds AW Alexandr Wang
Uncertainty about how long a tariff will last, not the rate itself, is what stops anyone from building a factory.
Holds MH Molson Hart
Startup opportunities are not fleeting; Silicon Valley has reliably had a surfeit of them for decades.
Holds
Even the most advanced AI cannot be followed blindly in investing, where value added is zero-sum and what is widely known is therefore worth little.
Holds
A belief nobody else shares is a warning, and a belief everybody shares is also a warning; the right number of people who agree with you is small but not zero.
Holds
A founder cannot delegate judgment: the chief executive has to make the decision that makes sense to them, however much momentum the alternative has.
Holds MH Max Hodak
A founder needs ambition rather than a sense of duty, because a startup is grueling enough that dutifulness will not carry anyone through it.
Holds
A country's large trade deficit in manufactured goods reduces its manufacturing employment below what it would be with balanced trade.
Holds PK Paul Krugman
Cutting off trade with tariffs would force a huge interest-rate spike and probably a debt crisis, because the budget deficit would have to be financed at home.
Holds JC John H. Cochrane
Rebuilding American manufacturing is a decades-long educational and cultural project, not something tariffs can do.
Holds MH Molson Hart
A company that grows enough eventually has no need for investors.
Holds
About 5% is the most common final ownership stake for the founder of a VC-funded startup that works out.
Holds
AI factories and foundries are too capital-intensive for venture money; they need government or sovereign funds behind them.
Holds LT Lip-Bu Tan