weekend notes

Hope all goes well… “Builders make the most money,” I said at the luncheon, high in some tower, looking out over Dallas. “That’s why I’m sitting here today,” said the entrepreneur to my left, confident, smiling. “If you’re not building a company, the next best thing is to own equity,” I said to the oil, gas, tech execs, family offices. We discussed the new administration, geopolitics, markets, ris

Hope all goes well… Dusted off an anecdote from 2021 about youth, technology, and what real revolutions look like (see below). Back next Sunday with full weekend notes. All the very best, E Week-in-Review: Mon: ECB chief economist warns “inflation could materially fall below target”. Incoming Energy Secretary in Trump administration expresses support for all forms of energy, including wind and sol

Anecdote: “I’ve been here all my life, never left, and I’m not leaving now,” she said. It was 2008, Santa Barbara, California. She was our neighbor, an old widow, kind, stubborn, proud. “I’ll be fine, but you all get going. I’ll be here when you get back,” she said, waving me off. Mara had packed our four kids in the car, flames in the hills, the sky blood red, our car covered in white ash. “Ask h

Hope all goes well… “I was really worried from the beginning about becoming this sort of decider of what is true in the world,” said Mark Zuckerberg. “That’s kind of a crazy position to be in for billions of people using your service,” continued Meta’s CEO, racing to adopt Musk’s approach to crowdsourced fact-checking on X. Zuckerberg is moving content moderation people to Texas to address user’s

Hope all goes well… Thinking about the year ahead, trade conflict, industrial policy, existential technology competitions, great power conflict in the coming age of AI. And I recalled an anecdote from 2017, back when these frictions were just beginning to be brought to light and called by their proper names (see below). Back next Sunday with full weekend notes. Wishing you all the very best in 202

Hope all goes well… Did a recent podcast on Capital Allocators with Ted Seides covering macro paradigm shifts, investment philosophy, and what I’m up to at both One River and Coinbase [click here to listen]. Dusted off a climbing anecdote that I reflect on as each new year approaches (see below). Back in a couple weeks with full wknd notes. All the very best, E Week-in-Review: Mon: US launches pro

Hope all goes well… Zipped out to Wyoming for Christmas with Mara and our crew, their girlfriends, boyfriend, a few others in tow. Bringing in the new year at altitude, the Tetons. Dusted off an anecdote from 2016 about the wonderful places that shape us, and we them. The value of roaming. Merry Christmas, Happy Hannukah, to you and your crew. E Week-in-Review: Mon: China’s 30-year bond yields fal

Hope all goes well… Army’s helicopters crossed the 50-yard line slow and low. Thump, thump, thump. The stadium went wild. Eight thousand Naval Academy and West Point cadets. Navy’s jets tore the sky in two, the sound of freedom. The crowd roared. I had flown to DC directly from Abu Dhabi, our family together again, an increasingly rare event, friends too. The Army/Navy football game is a day every

Anecdote: “I tried to help Charlie understand the importance of choosing his own path,” said Jackson, my oldest. We were walking, talking, high in the Tetons this past July. “I encouraged him to keep an open mind, watch us, collect information. By the time Charlie makes his choice, I’ll have been a Marine for nearly four years. Liv and Teddy will be off to the Army too. And none of us really know