See the world
more profitably.

Horse girls lead you to good investments. We're telling ourselves it's orange juice, when it really is a mimosa. A sacrifice that you can borrow against wasn't much of a sacrifice. The nudge itself signals. Sometimes it's enough to just maim your competition. We used to have the group of death. Now we have the group of mild headache. Prime Day is Restaurant Week for the U.S. consumer. NVIDIA is on everyone's cap table. Cost cutting makes people nervous because they see that they too are a cost that can be trimmed. Stealing the crown jewels is profitable, but cat and mouse usually isn't. BWT is a European water treatment business. Gucci is Gucci. The kicker is what clears the hurdle. Discounting is gating in reverse. A bar in NYC is naturally already a long position on the Knicks. The Mets won too recently to benefit from suffering. Doing a deal quickly and smoothly can be great. It can also be a symptom of overpaying. What tells you something is wrong is the absence of a named replacement combined with surprise. Expertise needs a new home or it starts to degrade. If you have 3X levered hot fudge on your sundae, can you still call it a sundae? How they take rejection shows what they are selling. A loss leader can set the anchor for a market. Your luck might be in the care of the great IPO sorting hat. There isn't a big market for personal email services in a world of Gmail. The two birds are flying in opposite directions. A nice summer sweat for the ones who assumed prices only go up. Barter predates revenue by at least a few thousand years. Somehow, always, water finds its level. It's always nice to have more to offer. There are free lunches, after all. Purchases as positions. Come for the tool, stay for the network. Distress is the last word you want in the back of your mind when it comes to a cruise. Cool is ephemeral but very powerful. In the lumber industry, it took a while to realize that sawdust could be valuable. Filtering is the ultimate control nozzle. Pricing models don't provide any moat. Everyone knows that someone knows. Much better to realize you are in someone's sights than to keep blissfully roaming in the Valley. Today that wouldn't pass as a joke, but rather a Wednesday. We've laundered risk through vocabulary. It's hard to compete with people having fun. The time to eat is when hors d'oeuvres are being passed. Soon is usually never. The product isn't always the product. We're all writing for the LLMs now too. Everything is signaling.