jrm

[Molly O’Shea @MollySOShea]

Cerebras CEO Andrew Feldman (@andrewdfeldman) says he's created ~1,000 employee millionaires over his career.

"Your investors, it's great to deliver for them. They bet on you. But they're diversified. They bet on you and 20 other companies."

"When someone bets 5 or 7 years of their career... a career is 30 years. They're betting a sixth of their professional career."

"When you get to deliver for them and they get to achieve the financial goals that they wanted, that's a great feeling and one I'm proud of every day."

[Core Memory @corememory]

Your robotic coworkers and house helpers will almost certainly be made in China unless the US figures out how to build cheap actuators. Here's our big and wonderful story on the massive industrial issue people have been ignoring. https://t.co/enQgrzvQy8

[jrm @j_mayer_]

@PastamanV_Mises @litcapital @DavidBCollum FCF collapsing aka they are investing. Why would I pay a P/B premium for them to hold onto cash that I could just hold onto myself. The entire value is in them spending the money they make to create more value.

[Naval Podcast @navalpodcast]

Part 3 of our conversation with three founders.

The Regulatory Frontier
Battling red tape at scale

00:00 Previously…

00:34 The Regulatory Red Queen Race

05:13 Why There’s No Innovation in Health Care

09:30 We Need a True 50-State Experiment

13:12 China’s FDA Is Beating Ours

16:18 Healthcare Is a Communist Society Inside Capitalism

18:38 Sid’s Story: N-of-1 Medicine (@sytses)

With @rauchg, @maxhodak_, and @bscholl.

Fourth and final part coming tomorrow.

[Haider. @haider1]

demis hassabis today at google i/o:

"AGI is just a few years away

and when we look back at this time, we'll realize we were standing at the foothills of the singularity"

i have reported almost five times that demis AGI timeline has been shrinking to around 5 years, from 5-10

[jrm @j_mayer_]

@aleabitoreddit What’s your view on $EWY versus something like $DRAM from these levels?

[Naval @naval]

New podcast on vibe coding - A Return to Code.

A Return to Coding 00:20

The Personal App Store 03:17

Vibe Coding Is a Video Game with Real-World Rewards 06:22

Pure Software Is Uninvestable 10:33

A Place for Each Model 14:22

AI Is Eager to Please 17:57

Why Math and Coding? 22:10

The Beginning of the End of Apple’s Dominance 24:17

Coding Agents As Customer Service Reps 27:55

[Stephanie Zhan @stephzhan]

@karpathy and I are back! At @sequoia AI Ascent 2026. And a lot has changed. Last year, he coined “vibe coding”. This year, he’s never felt more behind as a programmer.

The big shift: vibe coding raised the floor. Agentic engineering raises the ceiling.

We talk about what it means to build seriously in the agent era. Not just moving faster. Building new things, with new tools, while preserving the parts that still require human taste, judgment, and understanding.

[Sebastian Mallaby @scmallaby]

Proving it is better to be lucky than smart, I negotiated deep access to Demis Hassabis and DeepMind in November 2022. A week later, ChatGPT launched, and I began my deep-dive conversations with Demis and his team just as AI moved from the fringe to the mainstream. The result is The Infinity Machine. It's been a wild and fascinating ride.

[Gautam Baid @Gautam__Baid]

Warren Buffett's last letter to Berkshire shareholders.

https://t.co/J7XNXqRNeW

[Palantir @PalantirTech]

Palantir CEO Alex Karp takes the stage at AIPCon 8 and outlines what Silicon Valley has gotten wrong about LLMs.

[Vincent Deluard @VincentDeluard]

My podcast with @kofinas is out and it is fantastic, if I may say so myself.

Listen to it on and subscribe to Demetri's work at:

https://t.co/hwBAg0Yr0v

[Sam Altman @sama]

https://t.co/UH1lbzni41

[Kai Wu @ckaiwu]

The CFA Institute just published a huge 144-page report on the failures of accounting for intangible assets.

"Intangible assets are fundamental to the modern economy but largely omitted from financial statements."

Here's a quick recap 🧵

[𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐇𝐲𝐩𝐞 @EffMktHype]

This is possibly the most important chart a bond trader needs to look at right now. Not only will this determine your curve sector bias and inform your macro regime expression, it will be one of your key road-markers over the next 12 months.

[Nighthawk @KrikorianB15]

“Guess where Brad Marchand is getting traded to?”

Bruins fans:

[Council on Foreign Relations @CFR_org]

🎧🌍 In the series finale of The World Next Week podcast, @robertmcmahon and @robbinscarla sit down with special guest @deborahamos to discuss Trump at Davos, prisoner swaps in the Israel-Hamas cease-fire, and upcoming elections in 2025.

Listen below ⬇️ https://t.co/12qjVHpqRo

[Kareem Carr, Ph.D. @kareem_carr]

Nassim Taleb has written a devastatingly strong critique of IQ, but since he writes at such a technical level, his most powerful insights are being missed.

Let me explain just one of them. 🧵

[Hyperfixed Podcast @hyperfixedpod]

Kyle needed to know if “measuring from the one” was a myth or not… so we got a Mythbuster to walk us through it.

Listen now: https://t.co/8xiuep0lZ0