A lot of people don’t understand this, when manufacturing is reshored in earnest it’s going to be a catalyst for a lot of businesses to make the hard tech investments that weren’t possible under a more brittle administration. China is FILLED with facilities that are fully lights

Hamilton Lane with a great recap on the current state of private markets, key takeaways below: • Private equity underperformance vs. public markets has continued, largely driven by the concentration of gains in AI-focused mega-cap stocks. • Infrastructure and private credit

Of course they do, humans are evolutionarily predisposed to play status games. Wealth is a relatively new construct that is often subconsciously pursued to eventually achieve status. For 95% of our existence there was no concept of stored or portable wealth, individuals possessed

Record levels of dry powder, pressure for deployment and DPI, and a flight to quality are going to be big drivers towards healthcare and tech-enabled services for private equity. Expecting to see a significant rerate.

Super interesting as you think about the topography of these states - Louisiana has the second most shoreline miles on the Gulf and East Coasts, a significant amount of captive RE value if they could figure out internal disarray

Biggest financial mistake of my life was being a poor analyst during COVID

Tariffs need to be paired with subsidies to stimulate domestic production, 37% of all US imports from China are intermediate goods used in production. How are manufacturers supposed to pay higher inputs AND make LT capital allocation decisions off of transitory policy w/o support

It’s not and certainly not a way to derisk, sub scale businesses are generally higher beta (more concentration, more operating leverage, worse access to capital markets) and tend to cycle harder than institutionalized assets in a downturn. Private equity is focused on two things

If $5k is the needle mover, you do not want that person bringing life into this world..

Now this is a real salt of the Earth, meat and potatoes American, you couldn't make someone who looks more like a DA Davidson Industrials banker in a lab

ASML Twinscan EXE:5200 High-NA EUV lithography scanner

This is completely divorced from reality. PE performance has remained stable over the past five years and has continued to deliver returns that compensate investors for longer duration and illiquidity that occasionally arises during periods of dislocation. You can't compare the

Is this how the Rothschilds felt sending their sons to London, Paris, and Vienna?

Well written. The latest arrow in the quiver of identity politics is not aimed at promoting pluriversality, but rather at deconstructing, and often artificially discrediting, Eurocentric frameworks to better align with contemporary narratives.

I’d be willing to bet big that this guy went to Indiana State and owns and operates a $12m EBITDA freight brokerage business

Chamath deciding whose dick to ride on the next All-In episode

Don’t see how this possibly works, too many tactical hurdles - value attribution to sellers, negotiation of 3+ docs, go forward management team, etc. I think average middle market deal has a < 40% chance of transacting, would imagine for something like this it must be a fraction

I think all these burners could collectively stand on each others shoulders under a trench coat and get close to forming a fully grown adult man