underscored

@underscored

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The lesson of history is that there have always been more buyers of stability than sellers of it. When uncertainty rises, the price of certainty rises with it — and those willing to sell certainty at that moment earn returns that compound for decades.

Howard Marks, The Most Important Thing (2011)
1mo ago

"There's a hype cycle game that sometimes works. And one model someone gave me was B2B software, AI whatever, in 2026 is much more like crypto in 2021, than [it is like] B2B in 2021. The hype matters. The hype goes into the next round. When you have that round and you have the valuation, you get more investors, you get more customers, you get more employees. Hopefully, then, you're using that to build real things, and rinse and repeat. But there is a hype 'fake it 'til you make it' game that I think can work."

1mo ago

Underscored — save the words that stop you in your tracks.

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