Santa Fe Institute Operating Principles Written by Cormac McCarthy "Occasionally we find that an invited guest is insane. This generally cheers us all up. We know we're on the right track."

I made a trailer for the future of humanity (e/acc)

In my latest, I argue that Culture beats Policy when it comes to modulating birth rates - and discuss what this means for the future. I bring historical examples, ranging from Communist Romania to 18th Century France. writingruxandrabio.com/p/culture-over… I warn that so far people have

EVERY ANGEL IS TERRIFYING For those who strive to build new worlds A film created by Riva, MM, and Praxis

Since 2000, U.S. corporations have, on net, bought back $5.5 trillion of stock, amounting to more demand than any other market participant (it’s not even close) Goldman Sachs

$AMZN Proxy out. Reminder they have arguably the best comp structure on the planet for shareholder alignment. And some fun nuggets like the bill for Jeff Bezos's bodyguards. Comp Highlights -Primary compensation for all execs is periodic grants of time-vested RSUs w/ nominal

The sheer scale of debt in developing markets is jaw dropping. Half of the world's population lives in countries where the government spends more on interest payments than they do on health and education services.

Boom! The book Byrne Hobart and I are publishing with Stripe Press is now available for pre-order: amazon.com/Boom-Bubbles-S…

Saudi Aramco keeps its quarterly dividend (important for the government’s finances) at $31 bn, well above its free cash flow of $19 bn. Aramco is depleting its cash reserves to keep Mohammed bin Salman’s spending plans on track. At some point, a dividend cut is coming | #OOTT

A quote from Peter Thiel that has stuck in my mind: “Whenever people think you can just muddle through, you’re probably set up for some kind of disaster.” I believed the opposite for a long time. Civilization seemed so large and so robust that I thought its trajectory was

Saudi Aramco is taking on debt to sustain its dividend (that mostly goes to the gov). In nine months, its position has moved from net cash of $27.4 bn to net debt of $8.9 bn. That means in 2024 Aramco has spent ~$130 million **daily** that it didn’t have. aramco.com/-/media/public…

Growth and order seem to have an inverse relationship. Why? Switzerland is one of the only countries that maintains both. opusletter.substack.com/p/opus-26-can-…

In 1954, Atomic Energy Chairman Lewis Strauss promised energy "too cheap to meter." In 2025, we interviewed 15 pioneers working to shape the future of energy. Our second frontier film is out now: 'TOO CHEAP TO METER' — their vision may finally deliver on that promise.

This decade will be full of crises. The solutions will not be found in consensus frameworks—but in the anomalies they fail to explain. I started a frontier tech fund last year to continue investing in these anomalies. Byrne Hobart & Tobias Huber are joining the next phase.

A new essay on The Great Decoupling a look at how society is splitting into an Agency Class that orchestrates the world and a Managed Class that medicates against it. link to follow

This weekend, I took to the S*bstack soapbox in response to the coordinated mockery campaign on "In the 1950s, a single income..." Lots of requests to unlock it, so I have

on becoming "legible to capital": the most underrated factor in the success of firms is the degree to which they are legible to Capital. defining this precisely is hard ("you know it when you see it"): but an idea, a firm, or a person is legible to Capital (cap-C) when by dint

x.com/i/article/2018…

Google's capex guide this year is higher than their cumulative capex from founding through the end of 2021.