krichless @KyleRichless

How to destroy a city. Win an election by promising half the tenants frozen rents paid for by increased rents on the rest of the city’s tenants who often live in the same buildings with their subsidized neighbors. Pit neighbor against neighbor. Create a city hostile to developers of apartments eliminating the potential for new supply. Freeze rents so it is cheaper not to rent the apartment than to spend the capital required to renovate and rent it, shrinking the supply further. Place all of the increased burden on the unregulated, market-rate tenants and the owners of buildings with no market rate apartments that can’t raise rents forcing them into foreclosure and the buildings into disrepair. That’s all you need to do.

Paula Pant @AffordAnything

6 days ago

We're going to be seeing more and more of this -- NYC rent is about to skyrocket for market-rate tenants in buildings with a mix of stabilized and market-rate units. The mayor created a system in which neighbors are forced to subsidize neighbors -- irrespective of income.

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Correct.

Pablo Alcalde @HProductiva

6 days ago

La mayoría de libros de autoayuda alargan en 200 páginas algo que este clip dice en segundos

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Great piece. One thought from our experience: tasks don’t become the moat. They become the input. The real moat is the live operational feedback loop: proprietary workflows, real-world outcomes, human corrections, and continuous supervision. Static datasets depreciate. Operational learning compounds. The biggest winners won’t just train better models, they’ll build better managers of AI labor.

🇺🇸🇺🇸 Hell yeah!! 🇺🇸🇺🇸

This is because the anti-capitalist left is not actually against people being crazy rich. They're against certain types of people being crazy rich. Artists and athletes make sense to them because they've played music and sports and because their success can be explained by "luck" and "talent". Messi's wealth is not offensive to them because they understand Messi is much better at football than they are. But when it comes to business, the anti-capitalist leftist has no framework for understanding why Jeff Bezos might be super rich since 99% of them have never ever created a product, business or service that was of value to other people. They've never taken entrepreneurial risk. They've never employed people and felt the burden of responsibility that comes with that. They've never pick up a business and given it a play in the way they've picked up a ball or a guitar. They *literally* don't understand wealth creation. They think there is a fixed amount of money and the only thing a business does is split it unfairly. It's why they rage at Elon and other successful business leaders. Because they genuinely don't understand why they're wealthy. Also, and this is just as important, athletes and artists are disproportionately young, attractive, "diverse", left wing etc. Business leaders are "evil" middle aged white men whose success offends the average anti-capitalist leftist because they don't understand a) what it is they do and b) that Elon Musk has the same talent advantage on them as Messi does, it's just harder to measure.

Rob Henderson @robkhenderson

2 weeks ago

It’s criminal the CEO makes 400X what the average worker makes but it’s perfectly fine that Taylor Swift makes 100000X more than the people who clean the arena after her concerts. A just society is one that rewards the exceptional qualities of the musician but not the executive.

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Legacy Media types are calling this Alex Karp interview a “crash-out” so that’s your first clue that he is actually saying something extremely insightful. He is articulating what real “AI safety” looks like in the enterprise. Not abstract alignment research or certification by a government-run DMV for AI. Real AI safety for businesses is the ability to control their own data, model weights, and compute — so a frontier lab can’t hoover up their proprietary knowledge and turn it into their next product. As Karp explains, technical customers want “control over their compute, their models, their data stack, and their alpha. They want to know they own the means of production, and it’s not being transferred to someone else.” Don’t think that can happen? Just look at Figma. According to The Information, Anthropic “blindsided” its then-business partner with the launch of Claude Design. Figma’s founder said Anthropic had not been “consistently honest” with them. Anthropic’s chief product officer had even served on Figma’s board until three days before the launch of Claude Design. Figma’s stock has fallen sharply this year while Anthropic’s valuation has surged. This isn’t an isolated example. Anthropic has launched Claude Science, Claude Security, Claude Legal, and of course Claude Code — each expanding into categories previously served by companies building on top of their models. The pattern is consistent: watch where value is being created, then move in directly. Dominate the model layer, then use that position to capture the most lucrative verticals. Dario has argued that open source models powerful enough to compete with Anthropic are “dangerous.” But dangerous to whom? Not to enterprises that want to retain control over their data and workflows. Dangerous to a business model that benefits from customers having few real alternatives at the model layer. As Karp exposes, true enterprise safety isn’t trusting that a lab’s future roadmap won’t include your business. It’s retaining the ability to choose — at the model layer — who gets to see and use your alpha.

Palantir @PalantirTech

2 weeks ago

Palantir CEO Alex Karp on what customers actually want, the real business of frontier labs, and the importance of open source models: “What the technical customers want is control over their compute, their models, their data stack, and their alpha. They want to know they own the

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i think a lot of ink is going to be spilt on this interview, but my strong view is there is no theory in the world today that isn't best expressed in a company, there are no companies that are not theories. the corporate structure is totalizing now, karp is the purest form

ₕₐₘₚₜₒₙ @hamptonism

2 weeks ago

This is by far one of the most important things I’ve watched in 2026.

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This is by far one of the most important things I’ve watched in 2026.

@TiffanyFong I can name; off the top of my hear; 15 venture backed companies doing this *exact* same thing

Half the land area of Boston, a quarter of NYC, and 15% of San Francisco were raised from the sea before 1970. Since then, land values have grown by 30x but land reclamation has ground to a halt. This failure follows the spread environmental law around the world rather than any geographic, technological, or economic constraint. Thus, our lack of land reclamation and the severe land constraints in our most important cities are self-imposed and avoidable. We should make more land! worksinprogress.co/issue/why-the-… Land reclamation was common practice in American cities in the 19th and 20th centuries. Seattle, Chicago, Boston, Charleston, San Francisco, New York, Philadelphia, Norfolk, DC, Oakland, and LA all had major land reclamation projects that extended residential living space or infrastructure or both. The Bay Area alone reclaimed an area of land equivalent to ten Manhattans between 1850 and 1957, at an inflation-adjusted cost of $330,000 per acre. Today, an acre of single-family-zoned land in San Francisco County averages $24 million. Even if the cost of land reclamation grew faster than inflation, despite technological leaps in dredging and construction technology, there should be plenty of room for profitable arbitrage. And yet, land reclamation is extinct in the Bay Area as well as in every other American city. This isn’t because we ran out of good spots to reclaim: Two thirds of the San Francisco Bay is shallower than Boston’s Back Bay was when it was reclaimed in the 1860s. Nor is it because of better transportation: We’ve used up all of the easy suburban expansions enabled by the train and the automobile so prices are rising even in outlying suburbs. Instead, land reclamation’s death is due to environmental law. Evidence for this claim shows up in the coincident timing of land reclamation’s demise across dozens of cities in the US and in the environmental compliance process of the few reclamation projects still inching along today, but the best evidence is found internationally. No country has more experience or more reason to reclaim land than the Netherlands. The Dutch built 5% of their country out of the sea over the first half of the 20th century and by 1975 they had another artificial lake in the Zuiderzee ready to drain at the flip of a switch, which would have made tens of thousands of acres of land just east of Amsterdam. But a 1969 environmental review law, similar to NEPA in the US, stopped the project before it was finished and the site is now a protected bird sanctuary. Their one major reclamation since, the Maasvlakte 2 extension of the port of Rotterdam, took 11 years and 6,000 pages of environmental review before construction began. Inversely, countries without these laws, like China, Singapore, and Japan have continued major land reclamation projects into the 21st century. China has reclaimed over 5,000 square kilometers since 2000, including a city of half a million outside Shanghai and Singapore has grown by a quarter since 1975. Every major American city has a land shortage. But we have more than enough shallow water, dredging capacity, and market incentive to make more land, just like we did 150 years ago. The only obstacle is our own choice to make making land illegal. The benefits of more land in our most productive cities are large enough to justify the effort of reforming the laws that currently prevent it. Let’s make more land!

@rabois A lot of words TL:DR Frontier AI labs will soon look less like tech companies and more like defense contractors …with governments increasingly controlling who can access their most powerful models Seems not that controversial IMO

You are smarter than this Ro. Imagine if Bernie had taxed @elonmusk 100% on his PayPal capital gains. We would have no @Tesla or @SpaceX - none of those jobs or GDP. Who do you think allocated the capital better for society? He will already pay $100 B + in taxes - more than any human ever. I hope he donates some to kids via @TrumpAccounts to make every kid a shareholder in 🇺🇸 & continues investing all his heart, soul & money for the benefit of America & all humanity! 🇺🇸🚀🤍

Ro Khanna @RoKhanna

a month ago

Musk is worth more than South Africa’s GDP. @BernieSanders and I proposed a 5% tax on people like him. In one year, it could fund: - free public college & trade school -$10/day childcare - Special-needs education nationwide Wealth inequality is the moral failure of our time.

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I loved this episode between @patrick_oshag and Alex Sacerdote. Probably one of my favorite investing podcasts of all time. For my way of thinking and investing, this was an A+ 💯. As I was nearing the end of the episode, I thought to myself "Alex has mapped out the entire global tech stack and ecosystem and uses that map as his guide to the future.” As soon as I was thinking of that, Patrick said that Alex has "built a research machine to understand the world through the lens of companies.” I think it's the same thought, just different way of saying it. Alex also gives a nice shout-out to @shaunmmaguire who was talking to Alex about the opportunities in hardware three years ago. Here are some of the quotes I am filing away… “Anytime you have a new compute paradigm, there is a new [tech] stack, and that creates new winners and losers on the old stack.” “We have this infrastructure layer S-curve, which we think is like 10% penetrated, and by the way, we think it’s still one of the best ways to play Ai.” “Sundar said its 10 basis points of the knowledge workers in the world [currently using Ai coding tools].” “We think the enterprise application Ai market is less than 1% penetrated. We talk about S-curves, but we call this an L-curve.” “We’re at 10 basis points of people really using Ai and we’re already sold out of compute…there’s not enough compute in the world. So, Anthropic has half of what they need right now.” “We do 2,000 to 3,000 face-to-face meetings with management teams each year, and about 10% to 15% of those are with privates.” “We have an investing framework of (1) S-curves, (2) competitive advantage, and then (3) underappreciated earnings power…when you get the right part of the S-curve you get exponential unit growth if you have a very strong business model (which in tech there are so many of those for so many different types of moats), your earnings don’t grow linearly, they grow exponentially, and that is the last piece…invest when there is underappreciated long-term earnings power, and very often the earnings can grow from $1 to $10 or 50 cents to $20, and it happens way more than you think, and it allows you to buy some of the best companies in the world for extremely low P/Es. When we were buying Nvidia in 2023, we were paying 4x earnings. When we bought Tesla in 2019 for the car S-curve, we were paying 5x earnings. When we were owning Apple, we were paying 4x earnings. When we bought Amazon for AWS we were getting it for free.” [Fascinating about how the bottom part of the S, before the exponential growth phase, can last 10+ years]: “Smartphones were out ten years before the iPhone. The Internet was out 20 years before Netscape…Tesla went public 15 years before 2019 when it went vertical.” “Andy Grove says when you have strategic inflection points you can’t trust the data. Strategic inflection points are about intuition, anecdotal evidence.” “BTW, it’s OK to be late. It’s OK to miss the first one, two, three years in a lot of cases because if the top of the S-curve is half a trillion, the growth can go on for a long time. It’s OK to miss the first 100%.” “I started at Fidelity and Peter Lynch loved to mentor young kids, so I got some time with him, and he said “whiteout the chart. It’s all about the future.” “First we look at the S-curve and then we do an exhaustive study of everyone with exposure in that area and try and find the one with a very powerful competitive advantage.” “Warren Buffett didn’t like tech because he couldn’t predict the future. But the S-curve is our map for looking into the future.” “We sold almost all of our application software…entering this year we were actually net short [SaaS].” “You can imagine a world where in one, two, four, five years you could have a brand-new AI native company going after each one of these very strong [SaaS] incumbents.” “In software there is the Rule of 40…for chip investing we have a new Rule of 40: what percent of your sales are AI and what is your market share in that category (say 30% and 30%, you’d be 60%...that’s a great place to look because you’ve got exposure and you’ve got a strong market position). The problem with software is their AI is 1%-2% of sales and it’s a long way to go.” “AI could make some of these software platforms more important because what’s the first thing you do with Claude??? You plug it into Slack.” “The workloads in AI are growing 10x every year. And it is pushing every single aspect of hardware to the physical limits of what it can do. So not only are you creating tremendous unit growth, but we are experiencing the de-commoditization of the hardware industry. I met with Shaun Maguire like three years ago and he said I wish I could come back and be a hardware hedge fund because all the companies are public, and they all have powerful IP…and we’re in this renaissance of chips so not only do you have tremendous unit growth but it’s requiring tremendous innovation across every aspect of the server and so…” “We need you for the next four years designing this road map with us.” “No one has paid attention to hardware and chips at all. So, we’ve got all these newbies coming into it.” “One thing that bothers me is there is a lot of negativity in the general population about AI. And there is a lot of negativity in some aspects of the government…But I do think that the genie is out of the bottle. Another risk is that if AI slows down in its improvements…then the open-source models will catch up and then it could be a race to the bottom and it wouldn’t be good for the stocks, probably…it could be good for the chip companies because chip companies don’t care who wins.” “We’re meeting with as many companies as humanly possible…the [scuttlebutt] system we use is right out of Common Stocks and Uncommon Profits by Phil Fisher.” “Phil Fisher said get to know ten or fifteen like-minded people [investors] around the country and share ideas…you share ideas and it’s important that it’s a two-way street. I call it the tripod when I like something, and then my analyst like it, and then somebody who I really respect also likes it. Those three legs of the stool can really help the conviction.” “We think there is a huge structural underweight of the largest tech companies in the world…[partly because] there is a belief that there is no alpha in large caps]…[investors worry there is not alpha in big companies] but we realized this is just a product of the digital economy in that in tech the leader usually grows bigger and wins and develops very high market share quickly and there is great competitive advantages, and they are also selling around the globe so this is going to lead to massive profit pools and massive market caps…And most endowments are betting against this because they are completely underweight this…I think there is tremendous alpha in the largest cap because with a small cap it takes just one person to figure out it’s good and move it up. But it takes 100 diversified PMs to realize Google is not a loser, it’s a winner, and can we figure that out before 95% of those generalist PMs?…and we’ve been able to do it and we like our odds on that. Disclosure: I am an investor in and the portfolio manager of the Bastion Industrial and Infrastructure portfolio, which owns shares of Nvidia, Alphabet, and Amazon. I personally own shares of Apple and Tesla.

Patrick OShaughnessy @patrick_oshag

a month ago

My conversation with Alex Sacerdote, founder of Whale Rock Capital Management. Alex runs more than $17B and has been one of the best performing tech investors for years, though he keeps a low public profile. As you'll hear, he is singular in how he thinks about investing

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there are two critical functions in sales ... - get them into "imagine" mode - project manage their buying process like a psychopath

@patrick_oshag @patrick_oshag “Zero/Zero. Stay Desperate. at All Times” If I could force every founder I know to memorize one sentence, it might be this. …in related news… My therapist would like a word… 😂😂

Imagine if @NYPDPC Jessica Tisch were fired by Mamdani

Polymarket Sports @PolymarketSport

a month ago

🚨BREAKING: New York City crime has hit a new historic low in 2026... NYC's fewest murders & shootings in the first 5 months of a year in it's history.

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This is what "f you money" looks like. You can just call out the most famous 3 VCs out there and tell the horror stories publicly instead of just going "anon VC" did me this and that

Matthew Prince 🌥 @eastdakota

a month ago

Two of our worst VC stories: 1. A Sequoia partner passed on Cloudflare because he didn’t think a woman could lead a security infrastructure company. Seriously. 🙄 2. I got introduced to @pmarca. Meeting got scheduled for a Monday, which should have been a clue. I thought it was

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Ray Dalio correctly predicting 3 out of the last 37 crashes:

Polymarket @Polymarket

a month ago

JUST IN: Ray Dalio warns the AI bubble will burst when investors convert paper wealth into real money.

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Excellent advice

Patrick OShaughnessy @patrick_oshag

a month ago

As a father of two young kids, I keep thinking about this from Dara: "I think we're doing our kids a disservice by giving them too much, being around too much. You want to love your kids, you want to know that they're absolutely loved and appreciated. But it's the challenges

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