Sublime
An inspiration engine for ideas
But SBF extended this willingness to gamble to infinity—he was willing to make a 50/50 coin flip on the future of humanity! This is dangerous and depraved. SBF had been a major investor in the AI company Anthropic.
Nate Silver • On the Edge: The Art of Risking Everything
When ETFs changed hands, Jane Street was often present to take an ant-bite-sized piece of the transaction. The role of the Jane Street trader—one of the biggest sources of profits—was to keep the prices of all of these ETFs in line with the assets inside of them. The price of any pool of assets should always, in theory, be equal to the sum of the a
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
“In finance, you always have to have an alternative,” Byers said. “Otherwise, you’re sure to be eaten alive.” “Even with a blue-chip company like AT&T?” “With any large company. That’s why I recommend that you look into a Reg D with a retail investment bank.” “What’s a Reg D?” “Regulation D allows you to sell stock to individual investors of hi
... See moreJerry Kaplan • Startup: A Silicon Valley Adventure
(It is interesting to note that any profitable market strategy, no matter how obviously it is driven by greed, always is deemed good for society by those who reap the profits.)
Eugene Linden • The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market
Because of the widespread instability, it’s not enough for a business to be the market leader or the most profitable company. Rather the stake is to take the vast majority of the market[254], at (almost) any cost. Those who generate superior increasing returns to scale can crush competition and realize a sizable return on investment over the long t
... See moreNicolas Colin • Hedge: A Greater Safety Net for the Entrepreneurial Age
Edward Chancellor’s history of financial manias, Devil Take the Hindmost, urging them to read it. Chancellor’s account of England’s railway mania of 1845 had made an especially deep impression on Kagle, who saw all of the similarities between the railroad, then hailed as a revolutionary advance without historical parallel, and the Internet. In both
... See moreRandall E. Stross • eBoys: The First Inside Account of Venture Capitalists at Work
Back in the 1970s, the Bahamas had been slow to create regulations for the insurance industry, and had lost out on a massive potential economic opportunity when a booming reinsurance industry set itself up in Bermuda, whose regulators had moved more quickly. By remaining entirely dependent on cruise ship tourism, the Bahamas had paid a price and ru
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
