Welcome Avatar! Considering all the tech news we thought it would be a good time to quantify how some of our mega themes are playing out. The mega themes are still the same: 1) degeneracy, 2) loneliness, 3) K-shape Economy - rich vs. poor and 4) digital immersion. There is still practically nothing that is going to sway us from those four general trends. Like anyone else, they are “strong convictions loosely held”. If there is real evidence showing us the contrary we would happily flag it, adjust our strategies and move on.
This post may give you a little bit of flashback to our older writings. Back in Efficiency/Triangle Investing days, we said that you wanted to work for a company with expanding profit margin and high growth rates. This largely led you to FAANG type companies and it turned out fine. With AI we’re going to introduce another simple way to think about the Company you work for. Said differently, if you wouldn’t buy the stock with your own money, that says a ton about what you really think.