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One of the most overlooked charts in markets right now 👀
Goldman expects Russell 2000 EPS growth near 40% in both 2026 and 2027.
That’s well above:
• S&P 500 around 20%
• Nasdaq roughly 25–30%
If those estimates actually hold, small caps could quietly become one of the biggest earnings growth stories of the next cycle.
Interesting part?
Almost nobody is positioned for that narrative yet.
Whether a company survives will come down to two questions:
1. How hard is it for customers to switch to a competitor?
2. Does the value of the product compound with scale?
https://t.co/Sq03qB8mu9
“The lesson here is that whatever the world thought would end just ended up being vastly larger than anyone thought. And the thing that people thought would forever be replaced was not simply legacy but ended up being a key enabler.”
Parts of music have been automated for years through electronic instruments, recordings, and streaming. Yet demand for musicians has never been higher. Ticket prices are at all-time highs. Live art remains fundamentally un-AI-able.
"The conversation around AI and work has calcified into two camps. [...] Neither camp captures what it actually feels like to live through this. The truth is messier. You can hold wonder and grief in the same hand, mourn a version of yourself while sprinting toward a new one."
I liked this perspective "In the five days after that weekend, I produced more code than I had in the previous five years. That is not an exaggeration. The software I was making was better than the code I had produced on my own in the past, and far more ambitious."
Every great story has its characters. But sometimes the most compelling narrative isn’t the truth. Like in The Usual Suspects, we may only realize was happening with AI after the story has already been written.
https://t.co/swWg2ZSi7y
My information consumption is now 1/4 X, 1/4 podcast interviews of the smartest practitioners, 1/4 talking to the leading AI models, and 1/4 reading old books. The opportunity cost of anything else is far too high, and rising daily.
My conversation with @NicolaiTang1
Tangen runs the world's largest sovereign wealth fund and sees AI as a once-in-a-lifetime inflection point. He is responsible for managing $2.1 trillion. That's roughly 1.7% of all listed companies on Earth.
This episode is full of surprising insights.
Enjoy!
(Includes paid promotions)
Eileen Gu on the mindset that wins medals:
I'm very introspective. I break down all of my thought processes. I apply an analytical lens to my own thinking, and modify it because it's so interesting. You can control what and how you think, therefore, you can control who you are
“The point isn’t to work harder. It’s to apply the same work through better structures. Code. Media. Capital. Judgment. Each one operates differently, but they share one trait: they decouple your output from your input”
https://t.co/vTM0YPLbkx
My conversation with @vladtenev, co-founder and CEO of @RobinhoodApp and co-founder of @HarmonicMath
We discuss:
• Gamestop and what actually happened
• Going "founder mode" and firing himself
• Why "juicy falsehoods" are more appealing then "boring truths"
• How to reverse decisions
• The advantages of a crisis
• Why communication is a clarity test
This conversation changed how I think about running a business during a crisis and the future of finance.
Enjoy.
(Includes paid partnerships.)
This was interesting after rewatching Enemy of the State. “People often talk about how AI breaks many of the foundational floorboards of our society […] Sure, we know it is possible for us to be monitored, but why would anyone bother watching the tapes?” https://t.co/eJuzthRkKh
Avoid ruin.
Stay patient.
Let compounding work.
That’s good personal finance advice.
It’s also Berkshire Hathaway’s operating system.
https://t.co/tQ3qJGm4Ql
The CEOs who follow legends rarely succeed by trying to replace them.
The ones who succeed prove the system works without them. https://t.co/tQ3qJGm4Ql