Former Citadel head of equity quant research Dan Morillo on why crowding is how you get paid:
"The analogy that we sometimes use is this idea of sitting at a poker table."
"If I think I'm better than you and the three people who've shown up, having more people at the table is great."
"I come into a position before it's crowded and the way I make money is it becomes crowded."
"Crowding in a sense is the mechanical way in which you get paid from being early in an idea."
"If I got there because I was early, and then I got paid slowly as people came to be in my view, that is very different from somebody who's chasing the idea."
"How you get there is super critical."
attended a live physics lecture by Prof. Brian Cox in an arena, and it reminded me of my JEE days (in a good way)!
I am definitely revisiting HC Verma in the year end holidays now.
Los volvió multimillonarios a todos, y en el mundo corporativo gringo el reemplazo del CEO ingeniero siempre termina siendo un MBA de McKinsey que solo sabe de reducir costos, despedir gente y buscar artimañas para cobrar más por lo mismo.
The audacity of the govt to threaten citizens with 3 months imprisonment for an expired pollution certificate while forcing us to breathe 400 AQI air everyday.
“why don’t boys read anymore” idk man. maybe mass literacy was a historical aberration. maybe reading is not so central to the human experience as is commonly supposed. why is the act of reading itself treated with an almost moral reverence.
western civilization is kind of an oxymoron but the rest of the world was mapping the stars, exploring mathematics and creating trade empires. A knights suit of armor is an engineering marvel in the same sense a machine gun is; A product of a sad hyper violent society
"Rajiv Gandhi was a novice. He had little understanding of Political matters. Margaret Alva and I tried to guide him. But he made hasty decisions related to defence contracts. His inexperience led to scandals like Bofors."
- P Chidambaram on Rajiv Gandhi
The Lodha Theoretical Physics Institute is quite different from any institute you may have heard about.
The story behind its founding director’s career in theoretical physics is also quite unique.
What makes it different:
- Launched in Mumbai in May 2026 by the Lodha Foundation
-Theory only: no teaching, no grant-chasing, no admin, no degrees
-At public institutions, a professor can get “five minutes a day” for research, says Jain
Its founding director, Jainendra Jain, is a recipient of the Wolf Prize — in physics, it’s considered second only to the Nobel.
(Even after his physics PhD, his father kept mailing him UPSC forms so his son could become an IAS officer. Thankfully, Jain stuck to his guns.)
From Sambhar to Yale:
- Hindi-medium government school in a Rajasthan salt town
-Lost his mother and a foot in a tram accident at 12
-IIT Kanpur fees: ~Rs 35 a month, paid by a since-scrapped national scholarship
The puzzle he cracked:
-Squeeze electrons into an ultra-thin layer under a strong magnet, and their resistance moves in neat steps: 1, 2, 3
-Then came steps at odd fractions — 1/3, 2/5, 3/7 — that nobody could fully explain
-Jain’s idea, over Christmas 1988: each electron grabs a bit of the magnetic field and becomes a new particle, for which the fractions are whole numbers
A wonderful profile of Jainendra Jain and what the new institute is trying to do by @astrokaran (link in next tweet)
Jensen isn't a figurehead CEO. He's deeply technical and has a serious influence on product roadmap at the firm. It's not going to be trivial to replace him. Fumble this and the Nvidia board could derail the company and the whole AI trajectory.