Investing
Where I'd put money, and where I wouldn't.
I invest my own money in founders, so I live with these views. Every article is dated. If you're asking what enough looks like for you rather than for a buyer, start with the five money stages.
Investments I've made
The bets I put my own money behind, written up when I made them.
- Vurvey Labs boardListen Labs Sold for 67x Revenue. Airtable Sold for 2.7x.
- EnergyWhy I Own Tankers and Oil Companies Right Now
- Multisites.aiAI Agents Are Shopping for Apartments
Working out your own numbers? Try what your company is worth or what you'd take home if you sold, or check how exposed your portfolio is to AI.
LatestEssay · Oct 23, 2026
Why California's Poor Will Pay the Billionaire Tax
California's billionaire tax sounds like a bill for a few hundred people. Meta built Mark Zuckerberg a way to pay it without giving up any control, and the cost flows back to everyday Californians through higher prices.
Read it →Latest
Newest first, not yet filed under a topic.
Valuation
What the multiple is paying for, and when the revenue is hollow.
Buying and selling
How the buyers think, and what they do the week after they own you.
Where I'd put money
The bets I'd take, and the ones I'd stay out of.
- Oct 23, 2026Own Assets or Be Left BehindElon Musk's $1 billion Skydance investment is the latest example of owners putting their ownership to work.
- Oct 20, 2026How to Spot a Bubble, According to Ray DalioBubbles take years to form and years to burst.
- Oct 19, 2026Why Elon Musk and Anthropic Are Giving Away SharesAI is making the people who own it richer, fast, while people with only a paycheck fall behind.
- Oct 19, 2026What Berkshire's Bending Spoons Bet Says About SoftwareBending Spoons buys software brands cheaply and runs them for profit, and the market values it at about four…
- Oct 18, 2026What Andrew Ross Sorkin's 1929 Teaches AI InvestorsGood leaders in 1929 propped up a market they had doubts about, and they weren't villains.
- Oct 17, 2026What Elon Musk’s Net Worth Teaches About OwnershipYou can start owning businesses without founding one or buying a whole share.
- Oct 17, 2026Is AI Propping Up the US Economy?Business owners using AI well are running with far fewer people.
- Oct 6, 2026Tesla Is Having Its iPhone MomentI think Tesla has passed its tipping point.
- Sep 13, 2026The Industries I Would Avoid Starting in Right NowContent mills and SEO agencies, then generic outsourced back-office work.
- Apr 8, 2026AI Only Picks One WinnerAI does not hand you ten results to compare.
Follow what I'm building and backing
I post on LinkedIn and X about the companies I back and the products I build.
Join 2,310 people following along.