The Canada Pension Plan (CPP) has over 2,000 employees.
Top 5 managers, make more than $5 million per year.
They have never beaten the market.
Nevada has 1 guy. Who invests in ETFs.
Does nothing. All day.
And he outperforms the CPP.
Consistently.
For further context, if CPP invested in QQQ, for the last 10 years, instead of $800 billion in assets, we would have $2.4 Trillion.
VOO would put it at $1.6 trillion.
Lesson: The government will never outperform the market.
So don’t think the Sovereign Debt Fund will be any different.
Being able to pay Google to show up above your competitor when someone searches specifically for your competitor is honestly one of the scummiest little growth-hacker products big tech ever cooked up.
“Did you mean the company you deliberately did not search for?”
No.
No, we did not.
@jrodgers@tokifyi@831Calgary I am a member. It’s run by @TateHackert.
You’re correct. It’s a small space and has lots of events. But, good community hub.
A large builder space would be a challenge.
@joelle_lb All of them. Anger. Hope. Disappointment. More. In a shared space.
Art does this for weirdos but lots of people need a different type of dramatic story as outlet. Less self-reflection after the experience though.
A fuge state for emotional outbursts, but socially acceptable.
CEOs are uniquely prone to AI psychosis because they’re sufficiently distant from the last mile of work that still has to happen to generate most value with AI.
So when they play with AI, they see the happy path results, often not considering the next 10 or 20 things that have to happen to get sustainable results from agents.
“Look I made this awesome product prototype”. Yes but you didn’t have to review the code before it went into production and fix a bunch of issues.
“Look I generated a contract”. Yes but you didn’t verify all the terms before it goes out to the counterparty and didn’t have to wire up all the past contracts to work with.
The best thing you can do as a CEO is to use AI a *ton* to figure out the real implications of agents in the enterprise, and come out the other side with an appreciation for both the upside and the real work that goes into them.
“Give them a massive amount of oil, agricultural land, copper, freshwater, and every natural resource in the world. Now make them neighbors with the biggest market in the world. Great, now have them leave the resources in the ground and instead flip condos to each other”.