🇨🇦 Engineers behind AI were educated in Ontario
OpenAI: Co-Founder Ilya Sutskever (UofT)
xAI: Co-founders Elon Musk (Queen's), Zhang Guodong (UofT) and Zihang Dai (UofT)
In 10 years we'll all agree failing to attract them to build in Ontario is our biggest policy failure ever.
From 2002-2012, John Arnold's fund compounded at a STAGGERING 100%+ annually
In 06 alone, it famously made 300%+
In 07, at just 32, he became the youngest billionaire
Here's how he did it:
"At the time when Enron went down, Enron was the largest natural gas trader.
I was the head trader at Enron. And so I had a very big reputation in the business.
New York Times wrote a story in early 2002, talking about the amount of money that my trading book had made in 2001, which was in excess of $600 million.
And so all of a sudden, it kind of validated me externally.
And so I started getting a lot of calls from people saying, Enron went down. There must be a lot of opportunity in this space. Can we invest with you? And second quarter of 2002, there starts to be a new scandal hitting the papers on Enron almost every week including on the power trading side.
And so that was a very different operation than what I was doing, but it was close enough to where all the potential investors kind of stopped calling me back.
Because they don't know what's going on. They don't know if my track record was real or not. They don't know if I'm going to be tied up in court proceedings for years....
When I got started in the summer of 2002, I had $8 million from 3 investors one of which was me...
From 2002 to 2012, we compounded over 10 years 100%+ a year on average.
We had some years that were 300%, had one year that was pretty much flat, but on average. 100% a year..."
Absolutely STUNNING
Warren Buffett: "You couldn't think of a way to incentivize people more to kick up their own salaries than to have them read what somebody next door is making. It's just exactly the opposite of what was intended."
@garrytan Do you believe that sales/operations professional will benefit more from Claude code? Or do you think the technical/developer professional will benefit more? On average? To me it’s clearly the sales ops person who benefits (I’m bias as this person)
Berkshire Hathaway’s Charlie Munger was making gutsy investments, forging unlikely friendships and facing new challenges to the end. https://t.co/VHjM51wJ6d via @WSJ
Green Flags in a Man's Spreadsheet:
1. Starts in B2
2. Input cells shaded
3. Notes on assumptions
4. Good error trapping
5. "Accounting" not "Currency"
6. Global variables on separate tab
7. Chart format is informative, not fancy
8. Date series formulaic, not hard coded
Peter Lynch is the reason I left my career as a golf course Superintendent and became passionate business. He is the most successful fund manager of all time, but his wisdom is incredibly simple and applicable to retail investors. 🐐
https://t.co/QPZ3umhmLC via @YouTube