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Patrick

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Host of Invest Like the Best podcast

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Claims by Patrick (20 of 26)

Familiar Platforms Partially Represent Metaverse

Existing platforms such as Minecraft, Fortnite, Ready Player One, and Facebook's Horizon each represent metaverse elements to differing degrees, so none alone fully captures what the metaverse is.

definitiontechnology

Supply Chain Now Top of Mind Globally

Supply chain issues, previously largely ignored, have suddenly become a topic everyone is thinking about and discussing in late 2021.

factualbusiness

Long-Term Trust Is Rare in Business

Deep, durable trust between business partners like that built between Howard and Grazer since the mid-1980s is rare in the world of business, and the process of how such trust is built over time is rarely discussed even though everyone praises trust as valuable.

factualbusiness

Uber Eats built on Uber's preexisting platform rails

Uber Eats is a notable case of a new product built inside a large existing company that took advantage of the preexisting rails (infrastructure, logistics, technology) of the parent company, and it worked to a meaningful extent.

factualbusiness

Second-act products are rare despite being widely desired

Most big companies hope for second acts or subsequent products and expansions, but while everyone says they want this kind of innovation, very few actually achieve it successfully.

factualbusiness

Most Firms Treat Capital as Simple Product

Most investment firms, especially at the early stage of private markets, treat their product as simply capital exchanged for equity and a board seat, operating without the product mindset they expect from the companies they back.

factualfinance

137 Ventures Provides Liquidity Solutions

137 Ventures is a venture capital fund focused on providing liquidity solutions to founders, investors, and employees of private businesses.

definitionfinance

Value Creation Versus Value Capture Distinction

There is a meaningful difference between value creation and value capture, and a shift in where value is captured can materially affect investment returns.

definitionfinance

Infrastructure Is Underrated

Infrastructure is systematically underrated, including the payback on infrastructure investment, and the history of how it gets built in the digital world is poorly recorded by the people who actually build it.

normativetechnology

Outsiders Project Shaped Investing Mind

The Outsiders project and its study of skilled capital allocators reshaped Thorndike's investing mind, leading him to continue the concept through the 50X project focused on multi-decade holding periods and businesses that compound returns at high rates for abnormally long periods.

factualfinance

Sophisticated Investing Democratizing Down to Individuals

The sophisticated asset allocation models used by large institutions like the Yale endowment are increasingly accessible further down the chain to individual investors, accompanied by a democratization of the types of investors and the backgrounds of GPs.

forecastfinance

Today's World More Chaotic Than Past 40 Years

The current geopolitical environment—marked by the war in Ukraine with Russia and the distinct Chinese system—appears more chaotic and volatile than the world of the previous 40 years.

factualpolitics

Early Debt Shaped Risk Psychology

Carrying $27,000 of student debt early in life shaped Chamath's long-term approach to risk and personal finance, becoming a foundational motivation in how he thinks about financial security.

factualfinance

POW Camp Paper Reveals Market Fundamentals

The paper 'The Economic Organization of a P.O.W. Camp' offers foundational lessons about how markets and economies form spontaneously even in constrained environments, which informs Elliott's investing worldview.

factualeconomics

Post-COVID economy exceeded bull-case hopes

The economic recovery one year after the depths of the COVID crisis went about as well as could have been hoped for even in the bull case, despite both speakers being deeply concerned a year earlier about COVID's knock-on effects on the economy.

factualeconomics

Beshore sees broad cross-section of main street businesses

Brent Beshore occupies a unique vantage point in the economy because he sees a large number of main street businesses across the country, giving him insight into on-the-ground economic dynamics.

factualbusiness

Thrasio Profitable Since Founding

Thrasio, an acquirer of third-party Amazon sellers, has been profitable since its founding in 2018 and was most recently valued at more than $1 billion, an unusual profile for a high-growth company.

factualbusiness

Bessemer Most Willing to Evolve Among Firms

Among venture firms, Bessemer Venture Partners is the one most willing to evolve with the times—changing its investing style, its 'stripes,' and how it presents itself to the world—which is notable given its long history.

factualbusiness

Bessemer Is Over 100 Years Old

Bessemer Venture Partners is over 100 years old, making it one of the oldest venture firms in the world, with a unique operating model that holds lessons for other investment firms.

factualbusiness

Investors Have Physics Envy

Investors exhibit 'physics envy' — a tendency to always try to cram business reality into clean formulas like the 'seven powers' framework for competitive advantage.

factualfinance

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