The US is entering a period where natural gas demand is set to explode — driven by AI data centers, LNG export terminals, and industrial reshoring — but the pipeline infrastructure to move that gas simply hasn't been built. The bottleneck isn't the gas itself; it's the ability to get it from where it's produced to where it's needed.
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The best business returns are usually achieved by companies that are doing something that is quite easy to understand. The trick is getting first to a strong market position and then exploiting the advantages that follow. What you want is a natural franchise. A company can have a perfectly marvelous product and still be in a lousy business.
Peter Lynch — One Up on Wall Street
I joined in 2023 as Anthropic's first technical product manager, when the entire product team was five engineers, and has since helped ship every model from Claude 2 through Fable, and helped incubate Claude Code, MCP, Skills, computer use, tool use, and reasoning.
Lenny Rachitsky
Risk means more things can happen than will happen. The practical definition of risk is not volatility or a standard deviation — it's the possibility of permanent loss of capital. Volatility is opportunity dressed in frightening clothes.
Howard Marks — The Most Important Thing: Uncommon Sense for the Thoughtful Investor