Ryan Markus
42 posts
I agree. I’m also terrified of what happens when model IQ increases by another 50 pts and it can think more abstractly with infinite context.
It’s fine tho. There’s always money in the banana stand.
Boring_Business@BoringBiz_
From my personal experience, AI has made it 10x more fun to work in finance and look at potential investment opportunities All of the grunt work that used to take up hours of time is now being automated. Instead of having to aggregate data from various sources, I am having Claude or ChatGPT complete these tasks and do research overnight By the time I wake up, I essentially have work ready to be reviewed and then I send the agent back on the hunt for new information and analysis It is literally like having a bunch of qualified interns and analysts under you doing the job, while you get to focus on the big picture and critical thinking, which are the more fun parts of the role anyway My excitement and capacity to do more work have literally 10xed because of agentic AI. Truly amazing.
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@RHouseResearch Have you listened to 20VC recently? Very high quality
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Genuinely the most unlikable prick in all of venture capital, which is saying a lot
LinkedIn Lunatics@LinkedInLunat1c
Who’s this guy putting himself in elite company?
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You can really tell who’s a low level back office bitch and a real risk taker based on how they talk about people who fail.
Real risk takers almost always react like you just told them someone died in an accident or some war. While others are like what an idiot I’m so much smarter than would never happen to me…
It happens to everyone. Even renntech had larger than 20% drawdowns.
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America's goal should be to expand our Empire
Be it immigration, acquisition or invitation, if you believe we have the best system then you should embrace expansion.
If Cuba, Puerto Rico, Greenland, Greece, Venezuela, Quebec or The Dominican Republic want to join the Union let’s do it!
Let’s get to 60 States in these United!
Let’s be the most populous and prosperous country in the world.
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@FazalBalaj No, I haven’t done that yet, just sold other stuff
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I bought more $NVDA today and am buying more next week
Really starting to think all-in Nvidia isn’t such a bad strategy here and now
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300 views. Y’all gonna stay poor if you don’t step it up. Tic toc.
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NEW: Exclusive Interview with Jaimin Rangwalla, Chief Investment Officer of Public Investments at Coatue
In @coatuemgmt's Spring 2026 Investor Update, Jaimin walks through the unexpected winners of the AI cycle: memory, optical, CPUs, & the infrastructure layer quietly outperforming the Mag 7.
We cover:
- Why Coatue is "following the gigawatts"
- Private companies breaking into the global top 25 pre-IPO (OpenAI, Anthropic, SpaceX)
- Cash flow transferring from hyperscalers to AI infrastructure
- The $12T funding engine behind the AI buildout
- Sellers of shortage vs. buyers of shortage
- The Token Economy
- The CPU/GPU flip reshaping compute demand
- Coatue's $6T+ AI market estimate
- Agents launching agents / "1,000 analysts working 24/7"
Read the full deck & watch the update replay below
𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Jaimin Rangwalla, CIO of Public Investments at Coatue
(00:56) Inside Coatue HQ
(02:48) Investor Update Kickoff
(04:36) Mapping the AI Stack
(06:02) Why Supply Stays Tight
(07:03) How Jaimin's Became CIO
(10:43) Private Giants vs Mag 7
(12:40) Market Breadth and Reordering
(15:24) Where AI Revenue Comes From
(17:04) Tokens and Economy
(19:43) Agents Change Everything
(21:58) OpenClaw Explained
(24:49) Memory Demand Explosion
(27:12) Architecture Shifts Ahead
(27:24) Agents Gain Memory
(27:58) CPU Demand Surge
(28:38) CPU GPU Ratio Flip
(30:21) Key Chip Players
(30:45) Intel Comeback Thesis
(31:41) Semis Go Mainstream
(33:24) Nvidia Mania and GTC
(33:59) Tracking Data Center Buildouts
(35:21) Jobs Lost and Created
(37:30) Sellers Versus Buyers
(40:54) Optical Breakouts
(41:27) Bottlenecks Everywhere
(44:48) Sentiment Versus Fundamentals
(47:10) Handling Volatility
(49:17) Finding New Leaders
(51:18) Trillion Dollar IPOs
(52:48) Risks and Disruptions
(55:00) Coatue Growth Story
(55:58) Staying Curious to Win
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@firstadopter Love your stuff Tae - why are you so sure explicit opposed to strategic ambiguity (trump, Obama, Clinton, back to Nixon) is the right route?
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As Trump is transparently considering throwing Taiwan under the bus as a “negotiating chip” to get China to pressure Iran, every person in Congress in both parties needs to speak up now in support of Taiwan. Deterrence works. Showing weakness could lead to a kinetic war and a global depression.
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I say this as a MSFT long- it’s not really THAT cheap when you consider the gravity of the structural moat questions it needs to answer. Likely fine long term but ppl need to stop acting like it’s a steal. GOOG was a better setup for a better core business/AI talent IMO.
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@firstadopter @cqkten Tae - you’re really short GOOG? Get out of here, respectfully
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Investors seem unaware that Google is missing the boat on agentic AI, but alas! $GOOGL
tae kim@firstadopter
Woah. @alexeheath is reporting that Google's new Gemini model unveiling next week will not be a major advance overall, nor in agentic coding. OUCH!
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@stratechery it's not clear that "good enough compute" will indeed be good enough to compete at the frontier, hard to cite many other examples where that is true
increasingly hard to bet against NVDA + their absurd profits to plow back into SOTA computing systems
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The Inference Shift
Agentic inference is going to be different than the inference we use today, and it will change compute infrastructure because speed won't matter when humans aren't involved.
stratechery.com/2026/the-infer…
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(2) Also what happened to the $500M of AI Cloud Services Revenue ARR they guided for this quarter…?! $IREN
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So $IREN is issuing $NVDA a huge call option for the right to buy more GPU’s from…$NVDA?! Lol, ok.
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@apoorv03 @firstadopter Thanks Apoorv! Loved the Nvidia Way as well
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@firstadopter Of course! Welcome any feedback Tae! Really enjoyed your book as well, thanks for writing 🙏
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I want to thank @apoorv03 for putting his AI supercycle class on the internet. I have LOVED watching all four class episodes so far. Some of the highest signal stuff I've seen online.
Apoorv Agrawal@apoorv03
MS&E 435 with @alighodsi - the most insight dense conversation I've had this year. We cover the death of software, AI's jagged frontier, AGI implications, open source AI vs closed, advice for students as they navigate education and careers!
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@PythiaR @obsidiancap1 @NYC_Rivera @TMTBreakout How does MSFT have right to win/capture value going forward?
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big opportunity to buy $GOOG after eddy cue testimony exactly a yr ago sent stock down >10% to 150. W/ SOTP could see entire search biz was priced for LSD MSD multi. Limited downside & AI optionality. @NYC_Rivera @TMTBreakout both showed their work in detail. Great case study
Kaushik@WisemanCap
$GOOGL May 7, 2025- Google is dead and stock tanks below $150. Fast forward one year, we are at $400. Congrats guys!
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@ContrarianCurse Why is the stock flat last couple of years? Airbnb esque
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$UBER has two incredible products
On demand delivery / rides
On demand income
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@firstadopter You should listen to his recent invest like the best interview. Almost spit out my water when he said that was the most pressing regulation
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lol. Paul Tudor Jones goes full AI doomer mode "world might end" type tone, we need regulation! Then pivots to BUY AI STOCKS! CHIPS CHIPS CHIPS, 1999 BABY!
I'm dying laughing.
tae kim@firstadopter
Paul Tudor Jones on @cnbc “bought more AI stocks” “semiconductors” “It’s a crazy crazy time” brings up introduction of PC, Claude Code -> Microsoft 1981, Windows 95/internet. “beginning of productivity miracles that lasted 4-5 years” “we have a year or two to run” or “we continue to feel like 99” “October/November 1999” in terms of multiples. (either two years to run, another ramp to go)
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@firstadopter Do you agree with his framing? OAI/Ant are creating a fundamentally different technology that Databricks/TradSoftware do not control the direction of.
I get his point but it also feels like he is hand waving away the clear differences between Databricks vs frontier labs
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Databricks CEO Ali Ghodsi: "If all software is dead, isn't OpenAI, Anthropic dead? They're software companies with a bunch of researchers writing software .. Nvidia should be dead because they just have really smart people who create chip designs, humans that use some software .. Software obviously isn't dead. Nvidia, OpenAI, and Anthropic are not going to be dead companies."
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@ContrarianCurse 100%, he is always talking about “solving the loneliness crisis” in interviews. Hopefully bro starts with himself
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Brother just needs a wife and kids
x.com/patrick_oshag/…
Patrick OShaughnessy@patrick_oshag
Brian Chesky shares why the saddest day of his life happened the day after Airbnb went public at $100B: "We go public, we have a hundred billion dollar valuation. It's one of the best days of my life. The next day, I go on a Zoom meeting, and it was like it never happened." "It became like the saddest day of my life. Because I realized, I got all this adulation, and I don't feel any different." "Adulation is like a cup with a hole at the bottom. You keep filling it in, thinking it's love, except it just keeps coming out the bottom." "That made me reevaluate what I'm doing this for. I want to do things for pure intrinsic reasons. Do the work like you used to do, like when you were a kid. It was light. Just make stuff. Make it for yourself." "So many entrepreneurs focus on what they want to be. "I want to be a giant tech founder. I want to run a billion-dollar company." Instead of focusing on, "What do I want to make." There's no way to fail if you're making what you love."
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My latest: Jensen Huang - Your Ambition Is ‘Not High Enough’ $NVDA taekim.substack.com/p/jensen-huang…
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Brad Gerstner talked about the ridiculous valuation of memory stocks and said he will be on a podcast with the Micron CEO in a few weeks.
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