Byrne Hobart
Writes The Diff, a newsletter on inflections in finance and tech read by hedge fund managers, founders and VCs. Previously worked in finance at SAC Capital/Point72.
Byrne Hobart did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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Their wordsIt's easier than it used to be to put together disparate clues and uncover secrets. So everyone is, at multiple levels, going to get quieter in any venue that AIs might be trawling through.
↗Doing Business in the Dark Forestthediff.co 1st of 2 in this piece
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Their wordsonce any competitor who spends a few minutes setting this up can get instantly alerted if a company is considering a new market, vertically integrating, prepping for an IPO, etc., the incentive is to make the job listings more vague.
↗Doing Business in the Dark Forestthediff.co 2nd of 2 in this piece
- 4 weeks earlier
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Their wordsit is simply ridiculous that a ruinously expensive policy can be budget-neutral if the expense consists of wasted time rather than wasted money. But that's still a cost!
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Their wordsIt's not a blanket case against recycling: recycled metals are still valuable, but plastics mostly aren't.
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Their wordsbanks can't globalize the way other firms can because the banking system is so close to a form of sovereignty: governments very carefully guard the privilege to create more money, and when they give it out, there are strings attached.
- 5 days earlier
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Their wordsOne live possibility is that a deliberately slower pace of releases would still feel like an acceleration from the previous pace of AI improvement
↗The Economics and Politics of Pacing the Frontierthediff.co 1st of 3 in this piece
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Their wordsThe problem with that view is that models have more pricing power when they're literally the best tool for some specific job.
↗The Economics and Politics of Pacing the Frontierthediff.co 2nd of 3 in this piece
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Their wordsthat doesn't have to persist long for AI to join the ranks of systems that are important enough that there's someone senior in the government who's responsible for regulating them.
↗The Economics and Politics of Pacing the Frontierthediff.co 3rd of 3 in this piece
- 2 days earlier
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Their wordsOne way to look at this is that there's a part of the labor market that competes purely on price-in this case, basically by being the poorest place rich enough to afford fast Internet-and this category is the most vulnerable to technological disruption.
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Our reading
A more fragmented but media-savvy population will lead to more small-scale, meme-driven terrorism.
Their wordsOne potential upshot of this: a more fragmented media environment but a much more media-aware population will lead to more small-scale, meme terrorism.
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Our reading
Higher real interest rates reflect a more optimistic collective view of future economic abundance.
Their wordsHigher real rates mean that the average view of the future is more abundant, and that it's worth sacrificing more to get to that future sooner.