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About the same time that he was trying to decide whether to sink more money into Twitter, Sam was handing $450 million to a former Jane Street trader named Lily Zhang, to create a second crypto quant trading fund based in the Bahamas, called Modulo Capital. So far as Ramnik could see, Sam had told no one about that until he’d done it.

Although you’ve probably never heard of him, when it comes to creating opportunities in unknown territory, Chet Pipkin is something of a master. He began teaching himself how when he was sixteen years old, on what could be called the other side of the tracks from downtown Los Angeles. As the founder and CEO of Belkin, a company that produces a wide

In September 1995, Pierre Omidyar, a 28-year-old computer programmer, finished the code for what would soon become eBay. Searching around for a test item, Omidyar grabbed a broken laser pointer and posted it for sale with a starting price of $1. The laser pointer sold for $14.83. Astonished, Omidyar contacted the winning bidder to make sure he unde

Up until early summer 1998, eBay’s primary competition was Jerry Kaplan’s Onsale Exchange, which had launched in October 1997 and had failed to attract a critical mass. When Bob Kagle introduced eBay to Benchmark’s limited partners at the annual meeting in early June, eBay had an 89 percent market share. Kagle said that the company anticipated majo