Feynman's letter on a disputed tenure case at Caltech is very appropriate. The insight is the experimentalist Valentin Telegdi's: given a choice between a simple and clear (and retweetable!) account and a complex, uncertain account (not viral!), the complex account is more often correct...

$LVMH CEO Bernard Arnault on the difference between iPhones and Dom Pérignon: "In 50 years' time, will the iPhone still be used? Or the people who are making it today, will they have found what will be at the cutting edge at that time? But I believe I can say without being mistaken that in 50 years' time, we'll still be drinking Dom Pérignon." - $LVMH 2012

The key question every investor in Constellation Software wants to know is simple. How are you going to deploy ever larger amounts of capital at high rates of return? Well we got the opportunity to ask a Head of M&A at $CSU just that! Register below (no paywall) to access!

The key question every investor in Constellation Software wants to know is simple. How are you going to deploy ever larger amounts of capital at high rates of return? Well we got the opportunity to ask a Head of M&A at $CSU just that! Register below (no paywall) to access!

Hardware wasn’t the big opportunity for $AXON It was creating a software ecosystem that tied the cameras and the millions of hours of video they would generate to a platform that police departments embedded into their work flow and prosecutors relied on.

The Sims 1 came with a manual. At the end, it included a reading list to ‘enhance your understanding of some of the background and social issues entertained in The Sims.’”

Kris Fredrickson is the Founder of Verified Capital. Prior to founding Verified Capital, Kris was a Managing Partner at Coatue, and before that a Principal at Benchmark Capital. Before joining Benchmark, Kris founded two companies: Curology and Munchery. He started his career at Goldman Sachs. Matt Jacobson is a Partner at ICONIQ. Prior to joining ICONIQ, Matt was an investor at Battery Ventures and Technology Crossover Ventures (TCV). In between TCV and Battery, Matt served as the CEO of Groupon’s New York operations. He started his career in Lehman Brothers’ investment banking division. Mark Goldberg is a Cofounder and Managing Partner of Chemistry VC. Prior to cofounding Chemistry, Mark was a Partner at Index Ventures. Before joining Index, Mark was a Business Strategy & Operations Lead at Dropbox, and before that, a Senior Associate at Hudson Clean Energy Partners. He started his career as an investment banking analyst at Morgan Stanley in their Power & Utilities and Leveraged Finance groups. Letter #289: Kris Fredrickson, Matt Jacobson, and Mark Goldberg (2020) Today’s letter is the transcript of a webinar hosted by Mark Goldberg while he was at Index Ventures alongside Kris Fredrickson and Matt Jacobs called The New Fundraising Landscape, which took place just a month after California became the first US state to mandate a statewide shelter-in-place order (SIPO). In this conversation, Kris and Matt introduce their respective firms (Coatue and ICONIQ) before jumping into a wide-ranging discussion covering how their fund and personal perspectives have shifted since SIPO was implemented, advice they’re giving their portfolio companies, whether goalposts have changed in terms of evaluating new deals, building relationships remotely, how to approach fundraising, the increasing importance of references, valuation expectations, the fundraising market, advice for remote pitches, investing for market share vs cutting costs, market dynamics, term sheet construction, how to think about M&A, some general advice, and more! [Full transcript in link in bio]

It's more fun to go down untrodden paths

when i started investing, i was trained in a "mechanistic" view of markets and always found something was missing... complexity has been the biggest framework unlock in how I think about markets (ex. markets act more as an organism, and less like a machine

This is incredible.