With all due respect to one of the Godfathers of neural nets, who has forgotten more math than I will ever know, there is nothing wise about what he is saying here at all.

1) We're already making progress on 'alignment' and/or teaching machines what we want them to understand.

Many investors are surprised that Nvidia $NVDA has surpassed Apple $AAPL, and will pass Microsoft $MSFT any day now to become the world’s most valuable company.

I want to make it abundantly clear that from a technological standpoint Nvidia has run circles around the FAANGs

Everyone thinks that success is down to:

Hard work. Luck. Intelligence.

They're wrong.

After building 2 startups in Silicon Valley, I've seen one rare trait all successful founders have.

Here's what it is (and how you can build this rare trait too):

A sign of Nvidia's short term topping.

'The more you buy, the more you save. This is CEO's math. It is not accurate but it is correct!'
- Jensen Huang

Last week, 26th China Semi Annual Conf claims with the existential crisis behind now, Chinese is now progressing into advanced node process and beyond Moore's Law via new ecosystem & re-globalization.

Nvidia $NVDA reported after the close and I expect the stock to trade higher tomorrow.

I can get to ~$35 EPS (street ~$31) in CY 2025, with upside to $40 in a bull case scenario. At $35 EPS and a stock price ~$1,000 – the stock is trading ~28-29x earnings. ~25x at $40 EPS. This

The rise of electric vehicles is dividing the global auto market into two—one that welcomes China-made cars, and the other that effectively rejects them wsj.com/business/autos… 通过 The Wall Street Journal

Thoughts from --> Michael Hartnett, BofA | The Obvious 'Pain Trade' Of The Second Half Of 2024

- the biggest picture: the total return of the 30Y Treasury, a catastrophic -45% since April 2020
- tale of the tape: whereas the 90s/00s/10s period was market by a '2+2=4' economy,

Ran into US Ambassador to China Nicholas Burns at BJ Airport. I like a lot his travel blog across China on X and look forward to more Ambassador Nicholas Burns

Hedge Funds: Raising Money for a New Fund

Raising money is exhausting. You do hundreds of meetings set up through cap intro and travel to all the major financial hubs…such as suburban Philadelphia. 95-99.9% of these meetings end in no follow up and sometimes it seems like a

A quiet morning at Beijing Friendship Hotel

Sam Altman on how startups can survive GPT's advancements & build a sustainable business.

The framework he found which was working is either building a business which bets against the AI model capabilities or a business which relies on the next gen AI models.

He suggests not to

OpenAI is expected to demo a real-time voice assistant tomorrow. What does it take to deliver an immersive, or even magical experience?

Almost all voice AI go through 3 stages:
1. Speech recognition or 'ASR': audio -> text1, think Whisper;
2. LLM that plans what to say next:

Moore's Law in semi sector is also following Jevons Paradox. Aish

China MoF's specific plan to sell Rmb1tn ($140bn) of long-dated bonds: respective timetable, durations, amounts (in Rmb100M).

“If you want to invest in China AI, just buy Alibaba stock. It’s a China AI ETF. ”

Alibaba leverages cloud business to become a leading AI investor in China - on.ft.com/3QJeyo1 via Financial Times

It’s no secret that LLM training data is running out. How close are we to the limit? To answer that, here's an estimate of the total amount of text in the world from every major source:

RIP to the man that solved the markets, Jim Simons

8 quotes from the legend:

A NEW MENTAL MODEL MEGATHREAD HAS ARRIVED!

In 20 tweets I’ll summarize 20 of the most useful principles I know.

Estimated reading time: 4 minutes.

Value: A lifetime.

Thread: