Henry Kravis, co-founder of private equity firm KKR "Dont congratulate us when we buy a company, congratulate us when we sell it. Any fool can overpay and buy a company as long as money will last"

No Catholic family should try to homestead alone as an ultimate goal. We need: •Guilds of skilled tradesmen (plumbers, butchers, midwives, sawyers, tanners). •Catholic investment pools to help others buy land. •Common-use lands for hunting, firewood, and pilgrimage.

1/ The extractive industries are critical to reinvigorating our industrial base. Two key drivers of improvement in these sectors: innovative tools and effective use of data. New Founding has made a big bet to help realize this—highlighted by a $100M mining case study. 🧵

GM. We are going to revitalize the US industrial base

On the ground in Côte d'Ivoire One of our engagement managers is on-site this week, supporting the rollout of our mining data platform at a major open-pit operation. We believe that transformation starts with reality. That means collecting real-time, ground-level data—not just

This anecdote doesn't suggest that "venture buyouts" are impossible, but that acquirers from SV will have trouble operating well in a traditional business. PE has done this forever. The key to the new model is transformation based on tech solutions vs. operational best practices

To Western nations: You can’t build, or even fix, anything on top of societal disorder. Take traffic, for example. The most logical solution is public transport. But without order, anyone who can afford a car will avoid it, simply because they don’t feel safe using it. In El

Thanks to Atelier Missor for the tour of their workshop outside of Paris today. They are building monumental sculpture that will inspire a generation of Industrial leaders--and are moving to the US because they believe we are the best place to innovate.

Trend in private markets seems to be growing demand for secondary liquidity. Thesis: advanced data/BI solutions (like Palantir and Volis) can help enable this by reducing information asymmetry and making it easier for minority buyers to analyze private company equity.

If used correctly, AI will revitalize Middle America and bring back the archetype of the American Builder. Unlike SaaS, whose value accrues to huge enterprises, AI’s value accrues to individual users. If true, the main question is how to find and equip these potential Builders

Dear Elon Musk We want to build a statue of Prometheus in titanium and offer it to Starbase — a gift from the people, in gratitude for pushing humanity forward. Let's make Starbase the most spectacular city, as it will be depicted as a true milestone in history books.

spectator.co.uk/article/the-fr…

Predictable move, but it will fail. “Reinvention” is inherently unsuited to a consulting services model. Far too high principle-agent problems. AI will accelerate the end of the managerial age—and the decline of firms like Accenture.

The alpha from AI innovation is likely to accrue to individuals and small / medium businesses (e.g., heartland industrial firms), not to global enterprises as with the last generation of SaaS tools

The most effective companies are doing decentralized experimentation of a single AI use-case (e.g., quoting automation, call centers), with multiple branches testing their own configurations at the same time to see which applications come out on top

AI applications on the market today don't have your data or know how your business works. The tasks most core to your business (e.g., predicting delays in a project for a general contractor) will not be done successfully by off-the-shelf applications anytime soon. Big oppt'y

The question is whether this paradigm shift will be internal to PE industry or through external disruption (cf. handful of venture buyout plays from VC firms)