Invest Like the Best with Patrick O'Shaughnessy

Jeremy Giffon - The Billion Dollar PDF - [Invest Like the Best, EP.481]

The thing that's so interesting about private markets is that the fundamental informational advantage is not that you have better data — it's that you have access to data at all. In public markets, everyone has the same 10-K. In private markets, whether you get the information memo is itself a function of your network and reputation.

Book of the Day

Ben Crump says 'Worse Than a Lie' is a legal thriller wrapped in Black culture

My grandmother, when I was a little boy, she would say, "What's worse than a lie?" And that is to tell the truth and nobody believe you.

Decoder with Nilay Patel

Musk v Altman: Much ado about nothing

In a courtroom full of untrustworthy, unreliable people all fighting with each other, did anyone even have a reputation left to lose?

Decoder with Nilay Patel

Ronan Farrow on Sam Altman's "unconstrained" relationship with the truth

Sam Altman, against the backdrop of Silicon Valley hype culture and startups that balloon to massive valuations based on promises that may or may not come to pass in the future, and an increasing embrace of a founder culture that thinks telling different groups different conflicting things is a feature, not a bug…Even against that backdrop, Sam Altman is an extraordinary case where everyone in Silicon Valley who expects those things can't stop talking about this question of his trustworthiness and his honesty.