Lots of talk about tariffs for obvious reasons today. I keep seeing people asking for the "smart" argument for tariffs. I am not sure I agree with how the administration is doing this but let me give it a try. A thread....

Thats a beautiful explanation John Caple

Naval on when to trust your gut: “I think the gut is what decides. The head is kind of what rationalizes it afterwards. The gut is the ultimate decision-maker. And what is a gut? The gut is refined judgment, it's taste. [The gut is an aggregator]…it could be aggregated

My favorite people are walking paradoxes.

“You escape competition through authenticity.” - Naval

I'm guessing that the 700 expert calls arranged in past week by sell-side on impact of tariffs will be repeated with updated expertise

Warren Buffett: "There's a lot of interest in investing and people are going to yak about it all the time. In the end, what counts is buying a good business at a decent price and then forgetting about it for a long, long, long time. Some people can do it and some people can't."

Man invests $1.2m in Berkshire Hathaway stock at $2,000/sh which is now worth over $450,000,000+ today The most crazy rich mfs you will ever meet irl will be at the Berkshire Hathaway annual shareholder meeting. Nothing else comes remotely close.

Druckenmiller discusses why he believes in putting all your eggs in one basket and watching that basket very closely

More than anything else, love how AI brings structure to my writing & thinking - i vomit all that i know and it helps me understand, rephrase emails & makes much more sense to things i want to deep dive…just love this technology

Excellent advice from Jimmy Iovine:

Enjoy watching like I did….

How long before people intentionally put in typos to make sure people believe an LLM didn’t write a thing?

Earnings concalls are where analysts with 3 years work experience tell management who've built business over 3 decades how to make pricing & marketing decisions

Peter Thiel on advice to his younger self: “Before getting swept up in the competitions that define so much of life, ask yourself whether you even want the prize on offer.”

Code has the highest elasticity of anything in industrial society. The easier it is to make, the more of it gets made. "Effectively, there’s unlimited demand for code." — Marc Andreessen 🇺🇸 on Lex Fridman

Costco is immune to AI. We did an entire a16z pod on all the ways AI WILL disrupt commerce, and the businesses that are at risk - but this is my favorite clip. Alex Rampell on why Costco is "the greatest company in the world" ⬇️

A problem with the world is that people are afraid to think. Not to speak. But to think. They are not afraid of speaking their mind. They are afraid of thinking for themselves. Think for yourself.

How is this app free….goldmine!

Li Lu explains a concept from Charlie Munger that a few investors truly understand . Must read