My goal for these blog posts is to provide useful information so that you can make more accurate decisions.
- Noise is facts/data/news that cannot be processed into useful information (<— WHAT MOST STUFF IS)
- Useful information can be used to make more accurate decisions (<— WHAT I’M TRYING TO PROVIDE)
Since there is an endless and ever growing amount of things to learn, I hope that these posts are helpful in summarizing important topics related to investing.
Here’s my most recent three things that I’ve learned from books, podcasts, articles, newsletters and company call/presentation transcripts.
#1
Gerstner, Brad, and Bill Gurley. “All Things AI w/ @altcap, @sama & @satyanadella. A Halloween Special.” BG2Pod, 31 Oct. 2025, https://bg2pod.com.
Quote: “Let me just say one thing, Brad, as both a partner and an investor, there has not been a single business plan that I’ve seen from OpenAI that they’ve put out and not beaten it.” — Satya Nadella (CEO of Microsoft)
The fundamental performance of OpenAI (i.e. how much money they make and thus how much they can afford to pay their suppliers) has been a lingering concern of mine for the past few months, but hearing the above quote from Satya (in addition to hearing the CEO of OpenAI say in response to the same question that OpenAI is already earning “well more” than the $13 billion revenue figure that’s been reported in the press) provided some comfort since Satya has been closely monitoring the business performance of OpenAI since 2019.
#2
Sorkin, Andrew Ross. 1929: Inside the Greatest Crash in Wall Street History – and How it Shattered a Nation. Viking, 2025.
Quote: “Ultimately, the story of 1929 is not about rates or regulation, nor about the cleverness of short sellers or the failures of bankers. It is about something far more enduring: human nature.” — Andrew Ross Sorkin
It seems silly in hindsight, but human nature (i.e. people doing risky things after watching their friends get rich by doing risky things) drove many middle-class Americans to buy stocks on margin (often only putting 10-20% down) which led to a significant market rally in the 1920s followed by an 89% decline (!) between September 3, 1929 and July 8, 1932. Perhaps what is even more amazing is that stocks have still managed to earn 10% annualized returns since 1926 (i.e. before this crash occurred).
#3
“The New Nuclear Age.” The Daily Upside, 12 Oct. 2025, https://www.thedailyupside.com.
Quote: “About 60% of the grid should be coming from nuclear; replace all natural gas and coal with nuclear. That’s the goal: Make the United States look like France.” — Kevin Kong (Founder & CEO of Everstar, an AI-driven nuclear compliance platform)
The growing number of data centers under construction in the U.S. will require a significant increase in power generation. Currently, the U.S. generates just under 20% of total electricity supply from nuclear power which is much lower than France (67%) and South Korea (>30%) where costs for power have been declining thanks to greater nuclear capacity. It will take many years for the U.S. to catch up but I was encouraged to learn that there is at least a roadmap in place!
