Steve Jobs at 26 had crazy aura

The transition at the end is unreal. You’ll never guess the next song or the next person in the shot.

Good article today in BBG on mid-size PE really struggling. They really went hard after Trilantic, citing serious trouble fundraising and a ton of attrition. Onex, Crestview, Vestar, and Madison Dearborn were also called out.

Many such cases

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Great M&A!

I absolutely love this venture // art parallel Ramtin Naimi

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huge

The start of KKR. The lesson remains the same: "You either start or you don't..." Jerome Kohlberg, 49 years old, with $100k Henry Kravis, 30 yo $10k George Roberts, 31 yo $10k They all decided to jump. (And their office today.)

so much steeze

Venture capital is often about velocity of startup growth (within some safety rail boundaries of burn, margin etc)

Private equity is increasingly becoming a boring business From Matt Levine’s Money Stuff

Today we’re introducing GDPval, a new evaluation that measures AI on real-world, economically valuable tasks. Evals ground progress in evidence instead of speculation and help track how AI improves at the kind of work that matters most. openai.com/index/gdpval-v0

We have three cool announcements today: (1) OpenAI is launching commerce in ChatGPT. Their new Instant Checkout is powered by Stripe. (2) We're releasing the Agentic Commerce Protocol, codeveloped by Stripe and OpenAI. (3) Stripe is launching an API for agentic payments,

Agentic commerce will be so natural it will feel like it always existed. My GPT will buy my black T-shirts, book my hotel rooms & give me an awesome feed of product ideas. Like the perfect assistant - never fill out a web order form again.

welp, i guess now *everyone* knows why zuck was willing to pay $1b for researchers. lots of peeps think openai is a google competitor. it’s not at all really. search is purely incidental. in some sense what they’re doing is closing the product loop on behavior, not queries.

I think the best investor of the future will be someone that starts an AI focused fund with a fundamental secular winners/losers orientation. Similar to what tiger cubs were doing during the rise of the internet, mobile, cloud or what Leopold is trying to do now (albeit with way

Every day starts with the full arc of joy and despair. The commencement of the morning coffee, and then its end.