Stephen Read

It's little reminders like these that make financial independence so sweet. The last 5 clients are estimated to earn an additional $485k over the next decade. That's like retiring 5 years early and avoiding 85,775 times of logging into Microsoft kind of dough.

@stephenbalaban Nunabio may be your answer, they are a startup building DNA micro foundries.

Owning the means of scientific production (API access to computational & scientific equipment for bio / chemistry / physics) will be an interesting business for some period of time if we get to "a country of geniuses in a data center"-level AI.

I really wish I had a reason to own machines that handle picoliters and nanoliters of liquids and array them out for me very precisely and satisfying in a little grid. Is there a way to make money doing this?

@lynchbages You're assuming the extra workers don't produce (they will)

I'm interested in the concept of "phantom GDP" especially as it relates to AI. If a company uses AI to produce more output at a lower cost by using fewer workers, labor costs fall->less income flowing through the economy causes GDP to decline even though output has increased. And if the product's price declines because it's cheaper to produce, that's also negative for GDP. Not a big deal right now, but it seems that as AI usage increases, output will increase and GDP will decline. Counterintuitive? Better recalibrate your economic models.

Stackers Household Net Worth - 1980 to today Our Secret Sauce: Spend Less Earn More Save More Invest More Join the Stackers Club - hitinvestments.com/subscribe

An investment thesis that has served us (and the world) well for the past decade, and decades to come.....

@stephenbalaban @LambdaAPI @chuanli11 Thanks Stephen, your hustle and our investments in you is helping 1517, HIT Investments, and my partners to succeed! Keep On Hustling :)

Pic from Lambda's booth at NIPS 2017. @chuanli11 and I built our booth with parts from Walmart and IKEA. At that time, nearly a decade ago, Lambda was at a $3M revenue run rate yet we remained extremely frugal. Everybody else had these super fancy and expensive booths. When we first hung the black sheet over the IKEA bookshelves, we realized that it was wrinkly. So, we took it back to the hotel room and ironed it out so that it draped nicely. There's some sort of lesson there about caring about the details even when you don't have a lot of resources. I also used to personally hand out $2,000 off discounted quotes for conference attendees. Video below. I cringe a bit looking at this but I know that's the kind of hustle that is required to make it. If the flier led to a purchase, it often meant winning a customer for life. So the math works out. I'm sure some people on X still remember our fliers. I don't know who needs to see this, maybe it's a founder out there, maybe it's a future or current Lambda team member. I hope that the message of frugality, not being afraid of putting yourself out there, and caring deeply helps somebody.

Timing the market is simple, right?

@shortbus_ace What fund is 2bps and focuses on shareholder yield, or any of the top value factors? Shareholder yield, EBIT/EV, EBITDA/EV, P/E, FCF/EV

Charging 59bps to underperform what retail could buy for 2bps also seems like penalizing the retail investor, but maybe that’s just me 🤷‍♀️

Great short interview w/ Positron's @trsohmers w/ on how Positron has built a chip that achieves a miraculous 1:1 ratio of matrix-matrix to matrix-vector performance: youtube.com/watch?v=B8O3pL…

Come on down to Texas!

Get yourself some slappy happy meals.

Smalls and mids still trading at a big discount to large. Recovered a some of the discount but traded at a premium to large for most of the decade. Got to this level in 2022 before falling back. Question is not if but when they can get back to a premium over large.

This is the first time I've been able to tell my wife I have expensive tastes. I love waking up to a hot cup of coffee and eating a burger for dinner. Thanks for the chart of pain Charlie!

Unless you're the dad who stacks and has put his family in a position to self insure.

@fpontaza I've got a few jobs I'd like it to take!

AI is coming to take a job near you!

Are publicly traded private credit funds trading below their intrinsic value or will they be writing off 25% of their assets?

Is the U.S. credit industry coming to a head? HPS, North Haven, Apollo, Ares, and Cliffwater have all put cap on their redemptions.

The current oil price increase doesn't look as bad when compared to the civil war, Iran/Iraq war, and the Libyan civil war. What's your perspective?

"The republicans will shrink the government" "The democrats will raise taxes" "Donald Trump will make America great again" Debt isn't bad until it is. Let's change the trajectory.

Between TSA and airfare...... the skies have not been so friendly to our time and wallets.