@chamath This logic makes sense, but practically won’t happen short term. The time horizon is too long / requires too much $$ to automate the bulk of use cases.
The more likely scenario is incumbents are driven out of the market by lower cost, highly automated competitors in 3-5 years
@chamath Chamath - how then, can anyone rationalize investing in individual stocks when the market is so incredibly hard to beat? All the best investing books(A Random Walk Down Wall Street, The Intelligent Investor, etc) support this notion. Curious to hear your POV.
@bgurley Bill - I read this book per your recommendation on the Tim Ferriss show. Great read.
The thesis of the book is that over the long run, it’s near impossible to beat the market. It’s quite convincing. My question - after reading this book, why do you still invest in indiv. stocks?
Just woke up, seeing the end of Blazers-Jazz. Are these referees BLIND? Are you kidding me? What’s the point of replay review if you can’t review this OBVIOUS goaltending by Gobert? What a horrific JOKE! The NBA needs to get it right and change the rule. I’m going back to bed.